<p>If we decided to turn down a subsidized loan (I know, why would anyone do that, but just say we did), would that affect our FA for next year? Would there be an assumption we don't need it if we pay more than our EFC? Any FA experts, Barkowitz, for instance, I'd love your opinion on this. Thanks in advance.</p>
<p>No, it won't. We turned down the freshman Stafford in favor of a better term time job. H gave preference to FA kids. This year with the job firmly established (they can't live without her), we took the loan. FA was very comparable this year.</p>
<p>Having spent a lot of time in the industry I might just caution you a little here.</p>
<p>At my current school, this would be no problem. In fact, we don't even pre-package student loans any more; instead we offer something we call self-help and then ask students to tell us how much of the self-help should be loan and how much work.</p>
<p>But other colleges may look at the lack of Stafford borrowing (especially if you appeal for additional funding in later years) as indication that the Freshmen award was too generous. I'm not talking here about the top or second tier schools...</p>
<p>Anyway, I agree that I wouldn't take a loan just because it is there, but I might use my favorite approach, the double blind call. Have student and parent both call FAO, ask the question, note who you talked with and when. If you are concerned the FAO will note information down on you, don't identify yourself, but I think you are probably safe.</p>
<p>Thanks, B. This is actually a top tier school; he's not a freshman but a junior qualifying for the first time. By next year, our income will be seriously lower, so we're hoping for grants as well as the loans and work study. But we don't want to jeopardize anything. Actually, I called this afternoon and the person said they'd find it "curious." Hmmm.</p>
<p>I turned down an unsubsidized Stafford because I was living at home. I didn't think that it'd be an issue, but now I'm getting scared.</p>
<p>Vt--this one I'm talking about is subsidized, so I think it would be more likely to raise a flag. We've turned down unsub in the past. I don't think it would be seen the same way.</p>
<p>They re-evaluate FA every year at most top schools. I can't imagine that they will even know whether or not you took the loan when they review your package. Your financial status is really all that matters. If you reduced cash on hand by not taking the loan, your situation might merit more FA.</p>
<p>I was wondering that, too, Bandit.</p>