Quick loan info needed

Paying for College
1

<p>Here is my billing statement for the Fall semester. My question is that if my parents decide to pay off the Perkins loan and direct unsubsidized loan, would my college reduce my loan need for the upcoming semester/year?</p>

<p>ENDING BALANCE CURRENT PERIOD $25,788.50 </p>

<p>ANTICIPATED FINANCIAL AID </p>

<p>GRANT CR $17,150.00
NYS TAP (ESTIMATE) CR $250.00
OUTSIDE AWARD CR $1,000.00
FEDERAL PERKINS LOAN CR $1,000.00
FEDERAL DIRECT SUBSIDIZED LOAN CR $1,742.00
FEDERAL DIRECT UNSUB LOAN CR $995.00
TOTAL ANTICIPATED FINANCIAL AID CR $22,137.00 </p>

<p>NET BALANCE AFTER ACTUAL CREDIT $3,651.50 < (not including the loans)</p>

2

<p>Why should they pay off the Perkins loan? Isn’t it subsidized? They can pay it at the end of your years in school. And yes, you can pay off your unsub loan early or just decline to take it.</p>

3

<p>^^^</p>

<p>She’s right.</p>

<p>But if your parents do pay for the loan, you can still get one next year.</p>