Can you cancel loans after signing the master premissory note?
I was emailed to sign the MPN from FAFSA, but the thing is, I'm not sure if I need one of the loans.
I have $6,500 in outside scholarships that still is in the process of being processed through my FA account (I called the FA office and they said it will take awhile, because there are so many scholarships to process).
My COA is:
Room and Board :$10,074.00
Misc/Personal : $2,616.00
Direct Loan fees : $57.00
My FA package:
School Scholarship: 3,000
My school is term scheduled, and this fall term I will only spend about $125 on books, so I can't imagine books/supplies being more than $500. Should I cancel the unsub loan? Do I have to sign 2 MPNs if I want both the unsub and sub, so can I just not sign one of them? Should I lower the subsidized loan to 3,000 as well?