<p>Hi, i just got my acceptance letter from Stevens Insitute of Technology :-) and on my award letter it says all i have to take out is a $7,000 loan out of $54,000 and $2,000 of it is unsubsidize loans. Should i accept the loans they offer or should i look for another loan that doesnt include a unsubsidize loan??????????</p>
<p>The only place you will get subsidized loans is from the financial aid awarded by your school. Subsidized loans are subsidized by the Govt and are part of a FA award - you can’t just go and look for one elsewhere. It sounds like you have the max in subsidized loans. The maximum sub Stafford a freshman can get is $3500. It sounds like you have the max sub Stafford and also a Perkins loan and the balance as unsub Stafford.</p>
<p>thanks, so you saying i should accept the loans ???</p>
<p>Accept them, or figure out a way to earn enough that they aren’t needed.</p>
<p>BTW…congrats! What were your stats? Can you list what was in your FA package?</p>
<p>Unless you have the credit for private loans at a better interest rate or you can afford to pay for school yourself you should accept the loans. If you do not need the unsubsidized (the part you pay interest on) portion of the loan you can choose to accept only the subsidized. It is your personal choice depending on how much money you need.</p>