<p>I was recently admitted to a school I'd very much like to go to with an amazing aid package. It included a very generous grant, a little work study, and a few thousand dollars in federal loans. My family is pretty low income, but we could afford to pay the extra few thousand a year the loans cover. I've heard that student loans are a huge hassle and look bad on your credit history, but my parents think that if we turn down the loans we'll look less "needy" and will receive less grant money, every cent of which is very helpful, in the future. Is there any truth to this theory? Has this happened to anyone. I'd really rather not deal with the loans, but I don't want to hurt the rest of the package.</p>
<p>I don’t think it will matter. Many people do not want their children to go into debt, especially the first few years when the major/grad date are uncertain. If your parents are uncertain they’ll be able to handle the difference every year, you might consider taking only the subsidized loans you were offered - first Perkins, then Stafford. You can request a lower amount than offered.</p>
<p>Not taking loans won’t hurt future aid packages. Keeping loans to a minimum is a terrific idea.</p>