Do i need to take out loans for college?
How do i tell my college that i dont want any federal loan part of my financial package?
Depends. What college is it? What’s your EFC? You can tell them, but it will have zero impact on their decision.
When you get your financial aid package, you will be given the iotooon if accepting or declining portions of the award. If you don’t want the loans…decline.
Do all colleges give an option to decline?
The college is towson university in maryland
Efc is $12,000
The cost for towson is $9000 and im going to commute, but they are giving me federal loan but i dont want to take any loans for undergrad. I can work instead of getting a loan if im tight on money.
You can contact the financial aid office and decline the loan. To actually GET the loan, you need to do entrance counseling and complete a master promissory note. Don’t do that and you won’t get a loan.
If you find you NEED the loan later in the academic year, you can always ask for it.
Make sure your FA package is not based on being on campus, if you have decided to live off campus then your FA package needs to show this.
Of course you don’t have to accept a loan if you don’t want it. I misunderstood your question. I thought you were asking if you can tell the college to give you grants instead of loans. If your total financial package is, for example $20k, with $5k as loans and $15k as grants, you can simply decline the loans. Then your total financial package will be $15k. But they won’t replace the $5k offer of loans with $5k in grants.
thank you
when I applied to Towson university I stated that I would be living on campus, but I have recently changed my mind. I would now like to commute, so is there a way to tell the college that I wont be living on campus. And will it affect my financial aid?
If your original financial aid offer was based on you living on campus, if you are now a commuter student, you can expect a change in your financial aid package. While any entitlement aid (federal or state grants ) will remain unchanged there may be a change in your institutional aid
It might affect the aid you receive. You need to contact the college and let them know you will be commuting.
You can look on the college website to see what the cost of attendance is for commuters vs students who live in the dorms.
Did you receive institutional aid from Towson?