| In the FA award letter, most institutions suggest the Parents Plus loan for the amount of the EFC. You are under no obligation to accept any of the loans or awards. The Parent PLus loan is a federal loan and it is a good option if your parents need loan money. Repayment starts 6 months after the last disbursement and under the new regs that just passed, can be deferred as long as the student is in college at least 1/2 time. It is always more favorable to accept the federal loans before seeking private loans. Also the Work study is not a FA award, but rather what the government feels you can earn at the school that "subscribes to WS. It is finding a job and getting paid at whatever rate and you paying for whatever expenses that need to be taken care of while you are in college, such as books, travel, school supplies. It is not deducted from your tuition. If your parents financial situation changes then you must notify the FA office and inform them, They may be able to help you in some way. I hope this helps. | 
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