<p>The 2014/2015 school year is about to start for me (I'm taking classes in the summer quarter). Currently, my financial aid offer on the school (De Anza) MyPortal site says that I have accepted a state fee waiver and federal Pell grant, and been offered federal student loans. Financial aid told me I'll get work study and gave my boss the confirmation paperwork with grant amount, but it's not on the website yet. What I want to do is neither accept nor decline the student loans, leaving their status as offered, while receiving the fee waiver and Pell grant. As it stands, I don't need loans to cover my costs of attendance, but I will need loans later on, and I'm planning on graduate school, so I have to pay for more than just three years CC and two CSU. So, if I can avoid loans, I would do so. The problem is that I'm moving out soon, and I don't know what's going to happen. Supposedly I share an apartment with my dad, but I don't fully trust him, so things might fall apart and end up with me renting a room somewhere at a higher cost. I also don't know what'll happen financially between me and my dad this upcoming year. While I don't want to take loans, having some sort of financial backup if things go south would be rather comforting and go a long way towards easing stress. So, I'd like to leave the loans an option to take or leave as the situation merits. Is this considered acceptable, or do I have to make a decision on all offered federal financial aid before I can receive my Pell grant and work study?</p>
<p>First, these are the amounts of loans you are eligible for</p>
<p>Freshman 5,500
Sophomore 6,500
Junior 7.500</p>
<h2>Senior 7,500</h2>
<p>27.000 —> maximum allowed as an undergraduate no matter how many semesters it takes</p>
<p>Grads can get their own loans for larger amounts, with a larger maximum.</p>
<p>Usually students plan for their need for the year at the beginning of the school year cycle. If you take the freshman loan you get 1/2 this semester and 1/2 next semester. Next year you will be eligible for the sophomore loans but if you didn’t take the freshman year loans you wouldn’t be able to get them later when the year has passed. But if you don’t want to take them now, likely you can still request them from the aid office later during the year. Perhaps it is best if you talk to them about the procedures before you accept or decline. If you accept, you might want to put it in an account that is separate from your regular bank account and not touch it until needed. That way if you save it, you don’t have to put it as an asset next year if you didn’t touch it, I think.</p>
<p>I’m paying my D’s full fall semester amount out of pocket. For the spring semester I’ll pay some out of pocket and probably take some in an unsubsidized loan. She is eligible for the $5500 for her freshman year all the way to the end of the Spring 2015 semester. I’ll probably take a portion of the $5500 in January 2015 for the spring semester.</p>