Financial Aid/Loan Questions

[Cbabcock22]

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Hey all,
My fiancé will be paying for my housing for vet school which is awesome but I figured out that with the money I’m giving myself for monthly expenses (approx $600/month for groceries, gas, phone, socializing), I would be able to take out approx $2000 less in loans. Is this worth it or should I just take out the full amount for emergencies (car trouble, pet trouble)? Going off this, I know you can return unused loans but does anyone have better info on this? I could try to spend about $500/month to be able to take out even less loans but I just feel like either cases it’s such a small number compared to the total (OOS @ KSU) that I don’t know if it worth the risk of not having enough money. My fiancé makes good money and is willing to cover additional expenses but I don’t want to depend on him entirely but it will only help us down the road so I guess I’m just stuck lol.

 

[itsrocky]

You can certainly borrow the full amount and put back what you don’t use. It’s fairly easy to get in touch with your servicer to do this. Many students do this. Those little differences in what you save can add up to make your owed amount less, sure. But it’s nice to have some extra money around for emergencies!

 

[WildZoo]

You have 120 days I believe to return what you don't use each semester without acquiring interest on it. That's almost but not quite the whole semester. I like having emergency money so that's what I did, just make sure that 1) you stick to your budget and don't use the extra money just because you've got it and 2) you remember to actually send it back lol