Need help with loans/paying for college

Hi! I m 16, and I m currently a senior in high school. I ve applied to multiple colleges in and out of state, though I decided to just go to college in state then move out after. I ve gotten accepted into Michigan Technological University and Western Michigan (I live in Michigan ig you haven t guessed haha). I m still waiting for a decision from Michigan State. I apparently have a savings account in my name that s put away for tuition, room and board- it s about $30,000 there. I filled out my FAFSA already and I m currently applying for many scholarships. I already know that I’ll have to use loans and that loans from fafsa most likely wont be enough. I ve looked up student loans, but I m clueless about it and don t wanna mess up. I heard about Discover, Sallie Mae and Wells Fargo- they cover up to 100% of costs apparently, but I don t know which or if I should even sign up for one. I could work during college, and my parents are gonna contribute I believe. Help?

Have you run the net calculators for each school? That’s the place to start. Assuming your parents don’t own a business or farm, the results should be reasonably accurate in telling you how much the school will expect your family to pay (your EFC.)
Congratulations on having savings! That will help.
FAFSA isn’t an entity that gives loans or scholarships. It is a federal form that schools use to calculate your need. Completing the FAFSA allows you to take out federal student loans (also known as Stafford loans), but the amount you can personally borrow each year is fixed at $5,500 for freshman year, $6,500 for sophomore year, and $7,500 each for junior and senior years. All of the other loans – Sallie Mae, Parent PLUS, etc. – are loans that your PARENTS must take out. There is also a PELL Grant that, if your family income is low enough, you may qualify for each year. I don’t remember the amount, but it’s under $7,000 per year.
Your first step is to run the calculators and find your EFC for each school. Then consider your savings, student loans, PELL and work study (if applicable), and parental contributions WITHOUT loans. How close are you? You can certainly work summers and breaks to earn a few thousand each year. Depending on your major, it may or may not be possible for you to work during the semesters and keep up with your work. If parent loans are in the picture, keep in mind that each year you borrow, your credit rating changes to reflect that, and borrowing in subsequent years can be difficult.
As for scholarships, look locally and at the school(s) you’re considering. The best source of scholarships are at the school, since others tend to be for small amounts or for only one year.
I hope this helped a bit. Good luck!

If this is assessed at the student rate of 20% that would be 6k added to the EFC, which may probably knock student out of consideration for PELL

And if all of that $30,000 really is meant for college expenses and it’s not already in a 529 account, putting it in a 529 will guarantee that it’s assessed at the lower parent rate of approximately 5.6%.