Subsidized Federal Loans Question

Paying for College
1

<p>Hi I have a few questions regarding Federal Subsidized Loans. </p>

<p>Ok so here is the deal, I was offered a pretty good financial aid package. Here is a basic rundown:</p>

<p>estimated Cost of Attendance: $15,000
Pell grant: $5,200
State grant: $1,000
PTK Scholarship: $5,000
Transfer Scholarship: $2,000
person savings contribution: $2,000
Total: $15,200</p>

<p>I will be a Junior transferring from a community college. I have an additional $3,500 in subsidized loans to pay. In addition to the $2,000 in savings for next year(indicated above), I have $2,000 for the following year. </p>

<p>Would it be in my best interest to take the subsidized loans and put them in a separate savings account? Should I avoid loans?</p>

<p>If I start repayment on a Federal Loan can I only pay part of it in advance?</p>

<p>Thanks for any information,</p>

<p>tdccarpenter</p>

2

<p>You already have more in scholarships and grants than the COA. Have you actually been awarded sub loan? I would not think you are eligible based on what you posted.</p>

3

<p>The $2,000 In “personal savings contribution” is not on the award. I have some money in savings I have allocated for education.</p>

4

<p>Is the COA you cite the COA the school uses to award aid? Is your EFC 0 or some other number? I am asking because you didn’t include sub loans with the awards, and I am not certain you are actually eligible …</p>