how do we know how much to take out?

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deleted872555

how do we know how much in loans we have to take out? because i doubt a school’s estimated COA is accurate, seems like an overestimation when compared to reality.

say COA is $70k/year, but in reality i can get by with $60k/year. can i take out the full $70k and then return the remaining $10k at the end of the year?

basically what i’m asking is since i don’t really know how much in living expenses im going to need, can i use my first year in finding out that amount? like i’ll take out the full COA, live somewhat frugally enough to get by, then whatever X amount of money i used that year, that’s how much i’ll be taking out for the remaining 3 years?

sorry if i sound like a m0r0n lol

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It’s a valid question . Take out full amount , and you can return it within 3 months interest free (3 of 6? Don’t remember. Ask your financial aid office )
 
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