Should I take a subsidized loan?

AndyM6
Tue, 13 Sep 2016 16:57:51 +0000

Hi all!

Thus far in my college life, I have been able to pay for classes up front in full (community college is partially responsible for that). I’ve calculated that with my current job, my parents help, and the money I’ve saved by going to a CC, I will be able to barely pay for my bachelors degree without having to take out a loan. But now I’m wondering if I am making a mistake by not taking the loans they’re offering (excluding grants). After filing out my FAFSA for this year, I was determined to be qualified for the direct subsidized & unsubsidized loan. Would taking the subsidized loan be a good idea since interest doesn’t incur for me until I graduate? I am aware of the origination fee, but I’ve thought about taking the money being saved for college (would basically pay for my bachelors), and put that into a high interest CD (Highest I’ve seen so far is 1.14%). Then use the subsidized loan to pay for school/extra spending money. Would you recommend this (Or taking the loan at all)?