<p>Hi, Smith students and parents, I got my official aid letter and was trying to decide what amount of loan to decline if any. Since I am a junior, they gave me the max. amt. for fed. subsidized loan i.e $5,500/year. I have a schorlaship of $5,000 that would cover most of the deficiency after the grants have been applied. This leaves me with $2,000/year left for tuition, room and board. Should I just take the $2,000 that I need to pay for the tuition plus maybe another $1,500 for books and supplies or should I take the full amount and if there is anything left return it...
can I even return the left-over loan amount?
what exactly can I use the loan for?
(I talked to a SFS person who though helpful didn't know how to answer some of these questions or was in a hurry to hang up :( so any help is greatly appreciated!)</p>