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Loans

CruiseLover

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  1. Pre-Medical
    I really don't think I need all the loans that I'm offered for school. I found a place to live with 2 roommates so my living budget is much cheaper. Do I accept loans and then have the ability to "turn down the money." I don't want to refuse it now and then turn out I need it for the spring. I have not had to take out loans in undergrad so I need the help.
     

    hunter1077

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      CruiseLover said:
      I really don't think I need all the loans that I'm offered for school. I found a place to live with 2 roommates so my living budget is much cheaper. Do I accept loans and then have the ability to "turn down the money." I don't want to refuse it now and then turn out I need it for the spring. I have not had to take out loans in undergrad so I need the help.


      Same boat here...I think I am going to put my extra in a savings account until I get finished and then pay back all at once. At least I wont have to worry about while I am in school.
       

      angel80

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        In my school, we were allowed to take out less than the amount offerred, and then later on, if we needed more money, we could take out more. It's a little bit more of a hassle to go through things twice, but at least that way you are not being charged interest from the beginning of the year on the second chunk of money.
         
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        UserNameNeeded

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          angel80 said:
          In my school, we were allowed to take out less than the amount offerred, and then later on, if we needed more money, we could take out more. It's a little bit more of a hassle to go through things twice, but at least that way you are not being charged interest from the beginning of the year on the second chunk of money.

          That's very, very smart. I really would like my unsubsidized loan disbursements to happen at the beginning of the semester and the middle of the semester so I can avoid some of the interest from accruing. I wonder if I can even do it monthly? That'd be even better. Taking small amounts at a time...
           

          OSUdoc08

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            UserNameNeeded said:
            That's very, very smart. I really would like my unsubsidized loan disbursements to happen at the beginning of the semester and the middle of the semester so I can avoid some of the interest from accruing. I wonder if I can even do it monthly? That'd be even better. Taking small amounts at a time...

            Nope. You get it at the beginning of each semester. It's non-negotiable.

            Learn to manage your own money. Don't make the financial aid office do it for you.
             

            OSUdoc08

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              UserNameNeeded said:
              My undergraduate institution let me take out my loan amounts whenever I wanted.



              What are you talking about? :sleep:

              That may be true after school has begun, but you cannot take the loans out until the initial disbursment, and then request more later (if you have not maxed out.)
               
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