What to use?

charlieschm
Tue, 02 Jul 2013 16:16:35 +0000

If there is excess aid, the logical thing is to cancel the $2,000 unsubsidized federal loan (which is much more expensive over the years than the subsidized loans) and reduce the amount of work study during your first semester of your freshman year. If you can do it, it is a good idea to try to avoid too many work study hours during your first semester, when you are learning to adjust to the college work load.

If you need to take out unsubsidized federal loans, it is cheaper to do it your fourth year instead of your first year, because the interest accrues while you are in college.