Loan Disbursement

[PT_Hopeful20]

Hi everyone. My school is allowing me to take out ~$46,400 in grad plus loans for my first year (as of now, it's being split evenly between fall, spring, & summer). Would it be possible to defer the summer semester and use the loan for just the fall and spring (I will be using my savings to pay for summer tuition)?

 

[abynormal]

Call the financial aid department. You might decline this summer, but they will come up with a new number for the fall and spring.

 

[PT_Hopeful20]

Call the financial aid department. You might decline this summer, but they will come up with a new number for the fall and spring.

Thanks for the response. I've tried calling my school's financial aid office but they always put me on hold (apparently it's busy season). What are your thoughts on accepting the full amount and returning the remainder before the semester is over? I heard that some people do this but doesn't interest accrue if we hold on to that "extra" money?

 

[abynormal]

I am not sure to be honest. If you hear from financial aid, let me know what they say too.