<p>Hi! I hope this is not a stupid question, but I’m just a tad confused.
I’m wanting to accept my Financial Aid award, but I also want to make sure of something. I will be taking out, most likely, the full $5500 Direct Sub/Unsub Loans for undergrad, and possibly $4000 (probably will be around $2500 or so, but I’m assuming the $4000) in the Direct Parent PLUS Loan. If I end up not needing to accept that much in loans, will I be able to return these loans, so I don’t have to pay back the loans I didn’t end up needing? I am reading something about a “refund” if the financial aid exceeds the bill, but I wasn’t sure how that worked out exactly.</p>
<p>Does that make sense?
Thank you!</p>
<p>I may be mistaken, but one should be able to request unsubsidized Stafford and Parent PLUS loans at any time provided one has filed a FAFSA and would otherwise qualify for the loans.</p>
<p>If you take out a loan, you can pay it back early if you so desire. You will pay any origination fees, but other than that there is no extra charge to pay early. It’s recommended that students pay any interest accrued on the loans instead of deferring it (if interest deferment is allowed) so they’ll owe less at graduation.</p>
<p>Your loans will be split into two semesters. the first semester take the half. If the next semester comes and you have left over loan money from the first, tell the fa office that you want less for the second semester.</p>
<p>Oh okay, that makes sense! Thank you both!</p>