my federal direct subsidized loans are 3,500 for fall and spring semesters (1k a piece), and unsubsidized are 335 for both. in-state tuition is 9,700 for fall and spring + other fees makes the total direct cost 11k. i do have grants (3.4k, 7.3k, 1k) as well! total estimated cost after grants and loans is 3.8k. i’m going to online school for Social Work. should i accept or decline the loans? i do have some time to wait and see what i should do but its weighing heavily on me rn haha
should i accept or decline subsidized loans?
byu/samcroeulogy inStudentLoans
Posted by samcroeulogy
2 Comments
Are you able to otherwise pay your school out of pocket and still have enough money for living expenses and an emergency fund? Will doing so cause you significant financial strain?
It’s fine to take out student loans as long as you know what you’re taking out and understand that you will have to repay them. But no one here can give you a firm yes or no without knowing your financial situation.
Subsidized loans won’t across interest when you’re in school but unsubsidized will accrue interest. If you have to take out a loan subsidized is the way to go