<p>I received a Perkins loan for a summer program, but it turns out I did not need the loan. Should I get the loan and use it for the fall or should I wait until they do my financial aid packet for the fall to see if I qualify for more money. The loan was only a $1000, but I know I will need more. Also, I was told it is a possibility I may not qualify for the Perkin loan in the fall and qualify for the unsubsidized loans. Hmmmmmmmmmm!</p>
<p>You'll have to ask your financial aid advisor. Some schools will refund you the money you paid extra straight into your bank account, some will just take it off the principle of the loan. Although I don't see how they can go from giving you a Perkins loan to unsubsidized loans in one year...since such things are based off of need.</p>
<p>I talked with the advisor and her suggestion was to take the loan, because I may not qualify for the loan in the fall.</p>