how do loans work?

[drboris]

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After I fill out my fafsa and finally receive my award package, do I choose how much of a loan I want to take for that year or am I told how much I get? I am kind of paranoid about how the whole loan system in med school works. Do I take as much as I think I need for that year or is that decided for me?

Thanks

 

[mpp]

They will give you a maximum and you can take what you need. If you don't take the maximum at first, you may be able to take more later if you need it (although it could take several weeks to get the money). Talk to your financial aid office.