<p>How do we know how much we need to take out in loans if all of the financial aid websites only have an estimate of what you need to pay? Also, since certain fees and books/supplies are different for every student, does that not get included into what you would owe the university (like what you would pay with financial aid and loans)? thanks.</p>
<p>bump (10 char)</p>
<p>I think most people use the financial aid website’s estimate. If your estimate was under the actual cost, I suppose you’ll have to find a way to cover the difference. On the other hand, if your estimate was over the actual cost, USC would likely refund you in one way or another. </p>
<p>Do you (or, specifically, your parents) plan to take out a Federal PLUS loan (if not, I don’t think you have to read below)? I think for most people, they go over with the PLUS loan. A few days after you submit your Federal PLUS loan application, the Financial Aid Office should send you (your parents) a confirmation through snail mail that the application was certified. There should be another paper in the mail that is the “Electronic Fund Transfer (EFT) Disbursement Information” form. Read over that form carefully and submit it either by fax or by mail (instructions are on the form, itself). Options include refunding the excess back to the parents, forwarding the refunds to the student, or canceling the PLUS loan altogether.</p>