Good evening!
So I was offered $3K in loans per semester from FAFSA at SDSU. The loans are direct unsubsidized loans. I was wondering if I could activate the loan only for 1 semester so $3K instead of all $6K? Last time I activated, it was for both semesters.
You can borrow whatever portion you want. Usually on the portal there is an offer to accept or decline the loan, and an option to change the amount to less. It is per semester. Just decline the amount for the second semester.
@twoinanddone Ah I figured it out. However, I took out the loan and they will disburse it to me equally each semester so I wanted 3,000 for this semester but instead they will give me $1500 now and $1500 later even though I qualified for 3,000 a semester. I guess it would’ve been smarter to borrow $6000 and then decline the 2nd semester but it’ll be fine hopefully 
You should be able to increase that loan for this semester if you want to…and then decline for next. Go talk to your financial aid office and tell them you would like the whole amount now.
@DefineGravity What year are you in? If a Freshman then is the loan $6,000 or the Stafford Max of $5,500? I thought sophomore was $6,500 which is more than they offered you.
You definitely can accept the full amount now & decline the spring semester amount. I work with students all the time to do that (I am a financial aid director). It is best to decline in enough time that the reduction can be processed before the spring disbursement is made (that way, you won’t have to repay your refund to the school in order to reduce the loan). I ask my students to see me in late November/early December if they want to reduce their loan for second semester - check with your aid office to find out their timeline and process.
@kelsmom Thank you! I might increase it, but do you typically know how long it will take for these funds to be disbursed to me (it’s almost the end of this semester anyways so I wouldn’t mind waiting for the spring disbursement) I just took out the loans on Thursday night.
@MassDaD68 I’m a sophomore! I took out $5.5K first year, but this year I’m on scholarship which covers my tuition, but I’m looking to take out some for my room & board since my summer job hasn’t been able to cover everything. I was hoping I could just take out a one time $3K for this semester and decline the 2nd semester, which I can still do, but since it’s already towards the end of the semester when I finally considered taking out the loan, I think I can wait for the Spring disbursement.
Hopefully I am understanding this process correctly, I am not too good with financial stufff which is why I’m here! Haha, thanks for your lovely helps!
The time it takes to process a loan request depends on the school. I used to work at a large school, and it could take quite a bit of time for a financial aid officer to process the request. Now I work at a small school, and while it’s quick & easy to request and get it processed … it can take time to get the funds disbursed & refund checks cut. Every school is different.
@kelsmom That makes sense. I go to SDSU so it might take some time. Hopefully I’ll get disbursed by the end of the semester.