<p>i think if you accept then you would have to take them. so you should probably hold off on accepting until you know for sure you are not getting any scholarships from outside sources</p>
<p>What about for transfers, If you have an EFC of 0 can you get a decent package? Do you have to apply for transfer scholarships?</p>
<p>Wait, can we accept the grants and work out a way to directly pay the amount of the loans, instead of actually taking out a loan? </p>
<p>And the reason I’m angry at UT’s financial aid, is that with the discontinuation of National Merit, I hoped I would get more money, but instead I seemed to be screwed two times over. No NM and not that much aid!</p>
<p>i would think that you could do that, i guess their were to many national merit kids</p>
<p>The problem is UT has a deadline of April 8 to decide. Many of us don’t know what scholarships we might still be getting. Could be zero, could be the mother lode. I don’t want to accept a loan now and then not need it. </p>
<p>I think you can accept the grants and decline the loans. I didn’t get past like the second page of it because I had no clue. </p>
<p>Anyone, would you tell us what is on the remaining pages? I wish they would put up all the pages so we would know what we’re getting into.</p>
<p>The popup window on the subsidized loan states you can decrease the size if you don’t need it all but how much can you decrease it and how much are the fees and other charges to decrease it? Can you decline it closer to August or not? What if you decline it now but then needed it Spring semester? So, the government pays the interest on the subsidized loan, right? Six months after you graduate (drop out, etc.) then you pick up the payments and interest at that time? Would you be subject to pay any interest or fees if you paid it off in full the day you graduated? Am I wrong thinking you could just pay back the initial loan amount and that’s that? Sort of like a no interest loan if paid back upon graduation??? </p>
<p>What is the actual name of the subsidized loan? Stafford or what? </p>
<p>Ok, so scholarships and grants are applied to your account, right? Are loans paid directly to UT or are they given to the student? Not that I’m going to blow it all partying (seriously, no way!), but there are general living expenses students need.</p>
<p>Those are all very good questions. I’m wondering the same thing too. Maybe an email to the financial aid office would do us some good if nobody knows the answer here. About the last question, I think they pay off any debt you own to them first (tuition, fees, housing) and then mail the rest to you in a check or give it to you in an account for you to use for living expense.</p>
<p>They give grants too. I got some TEXAS grant + Pell grant + loans for my current year.</p>
<p>BTW, I just got an email saying that UT has received my FAFSA and it’s processing it. </p>
<p>Does any one know when they’re going to notify continuing applying student(2nd year) the FA package? end of April? I turned FAFSA in before March 1.</p>
<p>Check to see if you got it yet. If not, it’s probably on it’s way.</p>
<p>I’m in a similiar situation. They proposed I take out almost $7000 in lonas even though my EFC is just over $1000. I didn’t get the Texas Grant. </p>
<p>I asked them what would happen with the loans if I received scholarship money because I would like to take out as few loans as possible. </p>
<p>There answer was basically this: You can reinstate your loans (in full) WHENEVER. If you decide in the middle of the semester (or after you find out about your scholarships) that you need the loans, you can call the office and ask them to reinstate them. </p>
<p>If you decide that you want to get the loans and you end up getting the scholarships. Your scholarship money will reduce the loans. </p>
<p>Scholarship Money + Reduced Loans = Tuition Cost</p>
<p>I hope this helps :)</p>
<p>So its okay to accept the loans that they offered…then if you get scholarships they will just reduce the amount of the loan?</p>
<p>Yes, but the loans will not go away altogether. </p>
<p>The good news is that your loans don’t even begin to accumulate interest nor even distribute until the first day of school.</p>
<p>And like I said before, you can always deny the loans now and reinstate them later.</p>
<p>O okay thanks!</p>
<p>Just wondering where you saw that the deadline is April 8th?? I have been looking on every page and hav enot found a deadline to accept or deny the loans…</p>
<p>um i think it was on my what to do complete next page.
just click all the link options on the financial aid page of be a longhorn and its on one of them in bold.</p>
<p>I’m a returning student and I got an email last month notifying me that they had received my financial aid application. I’m still anxiously waiting for the package…</p>
<p>@SWTCAT: S’s fin aid page indicates April 11 as his deadline date to accept/reduce/refuse his loans.</p>
<p>On another note: WHY does Texas require you to make a FA decision when they don’t even pretend that their scholarship decisions have been made yet? I have not seen this at any of the other schools my son has applied…it’s crazy. I understand they have to redistribute money, but so do the other schools. But I am also amazed that the scholarship/financial aid processes are apparently completely unrelated at Texas. It seems a very inefficient way to make money decisions, both for the school and for the families.</p>
<p>Sorry. I just needed to ventilate.</p>
<p>I just went ahead and accepted the loans, because it said you don’t HAVE to borrow the money. We can decide what to do later.</p>
<p>Texas seems to handle things differently in a lot of areas! I’m not sure why.</p>
<p>I am “afraid” to go past page 3 and accept the loans as I am not sure yet if that’s what we want to do…so are you saying MaineLonghorn that even if you accept them, you can change your mind?</p>
<p>@SWTCAT - As usual, I asked the question on the UT site first, and then found the answer! On the “My Financial Aid” page, there was a link to each loan we’d accepted. When I clicked on that, it came up with information. For each loan, it said, “This is a loan and must be repaid. If you do not need the full amount, you may reduce it.” Seems obvious, but I’ll let you know if I hear anything different. It sounds like a line of credit - that’s why I liked it. I HOPE we don’t need it, but we might (two more kids to put through college, and we’re OOS).</p>
<p>Thanks ML…I don’t know why they have to makes things confusing :)</p>