<p>Hoping those of you that have been there can help with this one.
D is applying to a range of schools of various prices. We are expecting some merit money but of course there will be money due that we have to pay. We more than likely will not qualify for any aid, at least not in the way of grants. We have some money put away, but not enough for 4 years, even at a public U, but are more than willing to take out loans if necessary.
How does the process work? Do we get loans for the enitre cost of 4 years at once or do we get loans a year at a time?
I am just wondering if we would take a loan for the entire 4 years, and then our financial situation changes, how that would affect future aid? (I work for a large public corp, where layoffs are commonplace, I'm pretty secure right now, but that could change at any moment).
This whole process is really overwhelming. Thanks for your help.</p>
<p>Loans are year by year and can vary in amounts. Also subsidized vs. unsubsidized. Her loan vs. a loan in your name. You fill out the FAFSA yearly. And refile for aid, including loans annually.</p>
<p>Kat</p>