<p>I was offered a very generous financial aid package from University of South Florida. From the grants and scholarships that I will be receiving, it seems that I won't have to take out any loans for my first year. My question is if I decline all my loans (fed sub loan) for this year, will they still offer me the same amount of loans of next year just in case something happens and I have to take out some loans?</p>
<p>Yes, of course. In fact, you don’t have to decline them. Just don’t accept them. You have until the last day of the semester to accept your loans for that semester, if you choose not to accept them, next year they’ll still give it to you as well. </p>
<p>Though perhaps just a piece of advice…if they’re offering you federal subsidized loans, it might be smart to accept them, and save them for next year as the federal government pays for all your interest. If your parents’ income goes up next year, you might get the unsubsidized loans like me, and interest is 6.8% a year on those, and the interest compounds. Meaning for every hundred dollars I borrow, I will pay back $148 by the time I graduate with a masters, and more if I have to make small monthly payments.</p>
<p>Thanks, so u think its better just to accept only the subsidized loan and put in the bank for emergency or if I have any problems with financial aid in the near future? Or just decline the loans?</p>
<p>I think it’s better accept the subsidized portion to stash it in the bank for emergencies, unless of course financially your parents have more than enough for your education. Or else in the future, if you need that money, it may be unsubsidized. The federal government is trying to balance its budget and the only reason why interest rates on unsub loans aren’t higher is that this is an election year and the politicians want college students to vote for them. Next year though…expect an interest rate hike in the loans and cuts to grants =/</p>
<p>How much does it really cost for on-campus undergrad to attend USF? USF’s estimated COA for me is $20,090/year, but I’ve heard that for several people their budget is not really that high.</p>
<p>Well, it really depends on how much you spend. Like posted in the other thread, you can get by with $18k for the year, or you can blow $20k in one semester. </p>
<p>Here is the breakdown of that 20k figure:
[USF:</a> USFAS - 2012-2013 Cost of Attendance](<a href=“http://usfweb2.usf.edu/finaid/12-13/1213_budget.aspx]USF:”>http://usfweb2.usf.edu/finaid/12-13/1213_budget.aspx)</p>
<p>Housing costs only about $4k (so $1k less) if you go for a suite style dorm in Andros instead of Juniper-Poplar. As for books and supplies, see what you can buy off of old textbook sites online and you can save. And of course, they factor in $4k of expenses for your personal use, and depending on how much you spend, that number can be $1k for toiletries and carpooling with someone, or $10k if your parents have deep pockets.</p>
<p>Either way, I heard someone said they managed to slide by just $16k a year at USF, and I also heard someone that told me they blew $20k at USF before Christmas time (he was an extreme party-er).</p>