Are loans worth it?

Lololo5
Wed, 13 Apr 2016 01:25:50 +0000

School has gifted me $27,121, and the COA is $36,721.
My parents make $32k a year. I’m not accepting work-study, so I’d have to pay $1500 on my own.

They offered me these loans:
FEDERAL PERKINS LOAN: $1,500
FEDERAL DIRECT STAFFORD LOAN: $3,500
FED DIRECT UNSUB STAFFORD LOAN: $2,000
FEDERAL DIRECT PARENT PLUS LOAN: $1,100

I have a household of eight; three younger siblings, parents, and grandparents.
Is the loan worth it? Would it be difficult to pay off although the amounts don’t seem that large?