A student is graduating from college in 12 months but will need a loan in the amount of $10,958 for the last two semester. The student may receive either an unsubsidized Stafford Loan or a PLUS Loan. The terms of each loan are:

Unsubsidized Stafford Loan: annual interest rate of 3.85%, compounded monthly, and a grace period of six months from time of graduation

PLUS loan: annual interest rate of 4.15%, compounded monthly, with a balance of $11,421.51 at the time of repayment

Which loan will have a higher balance, and by how much at the time of repayment?