Do we have to take the full amount offered if we don’t need it, but need a partial amount instead? If so how do we go about only taking what we need? Thanks
Ok I’m no expert and every school might do this their way, but at my D’s school in her financial aid section of her student portal she can accept/decline and reduce amount of loans.
Yes, you don’t have to take the full amount.
mmm, I don’t ever remember seeing that option on my daughters school portal, only accept or decline. Guess i just have to call and ask. Thanks
You can email or call the FA office and ask them to decrease to the desired amount. But, you might WANT to take the full subsidized amount and bank what you don’t need for now. You don’t count banked loan money as an asset on FA forms, btw.
you may need that money in a future school year.
^^ Good to know about the banked $$. Thanx!!!
If I remember correctly, where it says accept/decline there were numbers filled in already, like $3,500 for subsidized loan, $2,000 for unsubsidized. She could change those numbers and then accept.Or decline either loan or all loans.
She had to do that in June.
There was also a change form you could fill out if you had to change something later.
You could ask your D’s school how she would do that.
Every school should have a way for you to only accept a partial amount. The less borrowed, the better! 
Ask the aid office, if you can’t find the info on the website.