Private College Student Loan

College Loans and Grants!!?

So I am going to school part time in the fall. I received some grants but need to take a stafford loan as well. I was thinking of taking an extra 1000 out so I can work a little less. If I take out more will it lower my grants?

Public Comments

1. No, taking out more in loans will not lower your grants where Stafford is concerned. You are going to be limited by either the Stafford annual amount, or the total of your cost of attendance budget, whichever you reach first. It is a good idea to balance academics and work so that the former does not suffer, but keep in mind that loans add up over time and are going to increase the amount you will pay per month the more of them you take out in your name.