<p>I've received almost all of my unofficial financial aid reward letters from all of the UCs that i got into. I'll be getting most of my costs covered by grants/scholarships, but i still have a net cost of roughly $8000. In order to alleviate this, each college is saying i can take out loans. Even though it'd be small loans, something like $2000 from 3/4 different firms, i'm kind of reluctant to take them out. Mainly because i hear of people having HUGE debts from taking out loans. What do you guys think i should do? I'm really hoping i can get some scholarships to cover the costs, but i know i'm probably going to have to take out a loan anyway.
With that in mind, what would be the best loan to take out?( Federal Perkins, Federal Direct Stafford, Federal Direct Unsub. Stafford?
Thanks in advance for any help you can provide me with!</p>
<p>Personally, I wouldn’t take any loans unless I absolutely had to. 8000 dollars is a lot of money but not that much, if you get a summer job this summer you could at least bring that number down a bit.</p>
<p>The universities will let you know which of those you qualify for. Pick up the phone and call them about it. The ones that are subsidized (you don’t have to pay interest while you are in college) are the best to take out.</p>
<p>HP, I think he has already been told he can have the following loans</p>
<p>With that in mind, what would be the best loan to take out?( Federal Perkins, Federal Direct Stafford, Federal Direct Unsub. Stafford?</p>
<p>I would put Unsub Stafford at the bottem. Subsidized mean interest does not accrue while in college, much better</p>