<p>Im kind of confused about my letter and the wording of some of it…Like for instance, if it has $800 for transportation and like $1500 for personal expenses included into the total cost, leaving my parents with about 14k in loans, but how can they determine that i will need 800 for transportation and 1500 for personal expenses ? what if i never need the loan to cover that much for those categories ? what happens to the loan? thank u</p>
<p>Those figures are just estimates for calculating COA (Cost of Attendance) which is the number colleges use in determining possible aid needed. If you find the loans are more than needed you can modify the amount after your first semester as loan funds are typically dispursed in two amounts (fall and winter) or three (fall, winter, spring) depending on the semester system of the college. If your first semester ends up costing less than the loans dispursed you may be issued a refund check which you can then apply to your loan or save for personal expenses.</p>
<p>By aware their will be personal expenses (i.e. books, laundry fees, possibly printing use fees, toiletries, entertainment, etc) and the money has to come from somewhere. If it isn’t from your loans then it has to come from somewhere else (possibly a work study job or summer earnings.</p>