<p>I have a question about the subsidized loan my daughter has been offered - if we accept the full amount now, can we change it later, if we decide we don't need to use the entire amount - like in the middle of the year?</p>
<p>Or if we decline it now, is it possible to get the amount later, if we decide we need it for the 2nd semester?</p>
<p>And one other question - if we turn down the entire loan for this year, will we still be offered a loan for the next year, if we qualify for it according to our EFC? Or would the college be less likely to offer a loan the next time around?</p>
<p>Thanks for any help anyone can provide!</p>
<p>You can change it at any time. You can get more now & reduce/cancel the second semester disbursement. You can turn it down now & request it later (as long as the student is at least half-time when it is requested). You can turn it down for this year but get it next year, as long as your financial situation next year qualifies you for a sub loan (although you would get an unsub, no matter what).</p>
<p>Thank you so much! You wrote that we’d get an unsub loan the following year no matter what - so only the loan you take the freshman year is subsidized?</p>
<p>Subsidized loans are only given if you qualify for need. You need to requal each year. Anyone who fills out a FAFSA can qualify for an unsub loan (no need component).</p>