Question About Financial Aid and Undergraduate Debt

[theboatman]

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Hi there,

So I took out some loans for undergraduate (around $12k) that I could hypothetically pay back now. However, I will be matriculating this year and have a question regarding financial aid.

Do financial aid offices take into account my undergraduate debt in my financial aid package? Would it be to my advantage to not pay off these loans at this time in order to increase my potential aid package I receive from the schools?

My loans don't begin accruing interest for 6 months so I don't need to worry about interest.

Thanks

 

[xffan624]

Hi there,

So I took out some loans for undergraduate (around $12k) that I could hypothetically pay back now. However, I will be matriculating this year and have a question regarding financial aid.

Do financial aid offices take into account my undergraduate debt in my financial aid package? Would it be to my advantage to not pay off these loans at this time in order to increase my potential aid package I receive from the schools?

My loans don't begin accruing interest for 6 months so I don't need to worry about interest.

Thanks

No. They don't care about previous debt, particularly yours. The main decider in need based aid (if your school actually gives it, not all do) is your parental income.