I was awarded an amount of grant money for school. I was also offered a “direct parent loan” which I did not accept because it would be my mothers responsibility to pay back from what I’m told and I didn’t want to do that too her. I was also offered an Unsubsidized loan for a low amount which I declined after learning about interest it would gain once given to me. The only loan I haven’t yet to decline or accept is the Direct Subsidized loan in the amount of $5500. Now what I wanna know is if my university’s average cost of tuition is 6,800 for me being a full time student. And I’m getting grant money for around the same amount, split up for both halves of my semester. (3 and 3 each semester) should I accept the loan amount or not? I’m very very confused about this whole thing!!! I really really don’t want to have to accept the loan amount but I’m scared about not having enough for school (tuition cost mostly and books which is what I want to use my grant money for)) I’ll be a junior this upcoming year so I’ll only have 2 years of school left. I’m a transfer student so at my community college as long as I was there I only ever needed grants to finish and now I am worrying now that I’ve transferred to a university.
If you need the loan to pay college costs, then take it. Do you have enough grant money to pay your college costs?
@nessabee , if you have been accepted into a 4-yr college, you should have a more exact amount than the “average cost of tuition”.
Speak to the finance department at the university and find out exactly how much this school year will cost. Find out exactly how much grant money you received. You and the finance department should be able to determine if the grant money will cover everything, and if you need (or don’t need) to pursue the subsidized loan.
BTW, since you did not mention it, I assume you will not be living on campus. If you will be living on campus, don’t forget to factor in room+board.
You need to speak to the FINANCIAL AID department…not the finance department.
The financial aid department is the place that handles student financial aid.
The finance department is a major within the university or college and won’t know spit about your financial aid.
D’oh!
Thumper is correct. I misspoke. Speak to the Financial Aid department.