Cost of attendance too much (I think)

[sakigt]

I believe there to be about a $5k overrage I will not need, however I know that if I decline that additional amount I cant change my mind about it. Is there any disadvantage in accepting unsubsidized government loans and simply borrowing less or using the balance to pay back the loans at the end of four years?

I was expecting to get through Pharmacy school with $100k in loans but this additional amount is making it $120k.

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[TMP-SMX]

Yeah there is a difference. You have four years of interest on that money you didn't need.

 

[Aznfarmerboi]

I believe there to be about a $5k overrage I will not need, however I know that if I decline that additional amount I cant change my mind about it. Is there any disadvantage in accepting unsubsidized government loans and simply borrowing less or using the balance to pay back the loans at the end of four years?

I was expecting to get through Pharmacy school with $100k in loans but this additional amount is making it $120k.

Dont do it. You will be grateful. That 5k will mushroom to 8k in a few years. Once you factor in that you will be using taxed money (8k is 15k pre taxed), it is a lot.

 

[sakigt]

I didnt realize that the total cost for the amount borrowed would be so high. Is there a calculator for these kinds of things?

In any case, any dollar amount spent for money I dont need is wasteful. Sounds good. So I just accept a partial amount, right? (Its been a long time since Ive done this)

 

[sakigt]

Also, I know I can choose to pay intrest during school but they dont say exactly how much those payments are. Granted, it depends how much I borrow (dur) but is it a certain $$$ amount per $$$ owed? I just need a ballpark estimate.

 

[TMP-SMX]

Yes you can accept a partial amount. As for payments during school, it usually doesn't make sense to make any. You are taking loan money to pay off loans. You'd be better off taking less or keeping the extra for emergencies.

 

[sumstorm]

Just don't forget that you will not have funding over the summer. Depending on your position and ability to find summer work, that might not be an issue...but if it is problematic...