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Should I take maximum amount of allowed loans?
Posted: Fri May 30, 2014 12:08 pm
by linkx13
I don't think I'll need all of the loans I'm eligible for, but I'm pursuing public interest law and I think having the extra funds around may help me out as a cushion.
My grad plus loan amount is basically equal to a work study salary, so I'm wondering if it's a better call to just only take stafford loans
Re: Should I take maximum amount of allowed loans?
Posted: Sat May 31, 2014 8:18 am
by Puttanesca
linkx13 wrote:I don't think I'll need all of the loans I'm eligible for, but I'm pursuing public interest law and I think having the extra funds around may help me out as a cushion.
My grad plus loan amount is basically equal to a work study salary, so I'm wondering if it's a better call to just only take stafford loans
Don't take out more loans than you need b/c that is just unnecessary interest building up. If, however, you won't have any money in your bank account by only taking out stafford loans, then you might consider a small grad plus loan to provide for an emergency fund. The other thing you should think about is taking out only stafford loans at this point, and then getting gradplus loans for the spring semester if it the stafford loans don't seem to be enough.