Federal Direct Loan Deadline Question

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1nygiantsfan

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Hello,

I was awarded a federal direct unsubsidized loan recently to an MD school and have to respond within 30 days whether I’ll accept/reduce/reject it. I’m still waiting to hear back from other MD schools post-interview and am on the waitlist for other MD schools. I’m wondering, what is advised in my situation?

1. Should I wait until close to the 30 day deadline to accept the loan?
2. Can I reject/return the loan after initially accepting it?
3. Can I transfer the loan to another school if I choose to matriculate into a different MD school than the one I accepted the loan for?

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