<p>So I already got my financial aid stuff and its nothing but a bunch of loans. My parents checked it out and they want to decline both the student and parent plus loans, thinking that the interest rate would add up in the long run. We declined the student one but can the parent plus loan be declined as well? There isn't a select button that would let us decide whether or not we can decline it. Or is it mandatory that they have to take it out? Please help!</p>
<p>why would you decline the student loan?? especially if its the subsidized one. </p>
<p>that is weird bc i always had the option to decline the parent plus loan…</p>
<p>no its the unsubsidized one. we checked out how much the student loan would come out if we took it for all 4 years. with a $5500 loan and 6.8% interest rate, i would end up paying around 30k. my parents decided to decline so i would pay only 22k without the 30k. </p>
<p>and yeah, i was wondering why my parent plus loan doesnt have an option…</p>
<p>^Maybe he received the unsubsidized?</p>
<p>it’s okay, i didn’t have a button to decline the parent plus loan either. I think if you want to take out the plus loan, you need to fill out a separate form on the fafsa website. if not, i don’t think you need to do anything else. but i would call the finaid office just to make sure :)</p>
<p>^ exactly. The parent plus loan is something your parents apply for if you follow the link provided. It’s not an accept/decline thing. Don’t panic, my first year I got tons of loans and have gotten much more aid the next two years in the form of grants and scholarships. There’s many resources (many through the financial aid office) to give you more money for school. And if you’re worried about interest rates, check out independent lenders, such as citibank, etc. Some are pretty reasonable if you’re well qualified with a cosigner.</p>