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alexhuntercody
college moms help me decide. i dont know what to do!
April 7, 2010 at 11:15 AM

I am taking 2 classes in the summer. They cost 642. That doesn't include books. I checked my online account and  I was awarded 1337 in federal pell grant money and was given a 500.00 student loan for summer 2010 only. that does not include fall; they haven't done falls online thing yet.

Would it be plan stupid to deny the student loan? because 1. the pell covers the tuition and then some and 2. if i do go over i have 500 in the bank i could use. (i can't see it happeneing though with how much i was given in pell)

I dont' want to take out that loan and NOT need it. Seems like a waste to me. ya know?

btw i am starting in summer. I haven't used pell for the 2009-2010 school year that is why i got pell in summer.

 

Replies

  • mom22tumblebugs
    April 7, 2010 at 11:20 AM

    I wouldn't take on student loan debt unless i really needed it, but that is IMO.

  • Sarah993
    April 7, 2010 at 11:22 AM

    No, it would be very smart.  If you don't need the loan then save yourself from the debt that you will have to pay back later.  I wish I didn't need my student loans.  Good luck with school!

  • oboe_chik
    April 7, 2010 at 11:22 AM

     You got a pell grant for over 2 times as much as what your tuition will cost. Why would you need to take out the loan? Just to have spending money?

  • alexhuntercody
    April 7, 2010 at 11:24 AM


    Quoting oboe_chik:

     You got a pell grant for over 2 times as much as what your tuition will cost. Why would you need to take out the loan? Just to have spending money?

    i didnt take it out. the school automatically gave it to me. I dont' want it. But the college was trying to talk me out of denying it. I denied it now though. So i don't have it anymore on my records. :)

  • Mommy2LnJ
    April 7, 2010 at 11:24 AM

    I wouldn't take the loan.. if you don't need it, don't do it.. because you'll just end up having to pay it back.. I refused my loan which was about 2475 because my pell grant was 1375 and it covered everything plus I got $320 back that wasn't used.

  • oboe_chik
    April 7, 2010 at 11:25 AM

     

    Quoting alexhuntercody:

     

    Quoting oboe_chik:

     You got a pell grant for over 2 times as much as what your tuition will cost. Why would you need to take out the loan? Just to have spending money?

    i didnt take it out. the school automatically gave it to me. I dont' want it. But the college was trying to talk me out of denying it. I denied it now though. So i don't have it anymore on my records. :)

     Ok I thought you had already gotten the money from the sound of your post. Yeah I got a few loans for college that were above the cost of tuition and I bought books with them and gave the rest back. I am still about 47K in debt from school.

  • lilmacmama20
    April 7, 2010 at 11:25 AM

     I am taking the loan and pell grant, because we need the money right now.

  • SxyPanamami83
    April 7, 2010 at 11:26 AM

    i know here in colorado say i got the 1337. if i went in summer and spent 1000 of it then that amount would be deducted. say i wanted to go back in fall i would only have 337$left for fall semester. here there is not two different finacial aids for summer andf all its all one. thats why i dont do summer classes i save it all for fall

  • alexhuntercody
    April 7, 2010 at 11:28 AM


    Quoting SxyPanamami83:

    i know here in colorado say i got the 1337. if i went in summer and spent 1000 of it then that amount would be deducted. say i wanted to go back in fall i would only have 337$left for fall semester. here there is not two different finacial aids for summer andf all its all one. thats why i dont do summer classes i save it all for fall

    hmm oh shit. lol.

    from what i was told by finanical aid that isn't how it works here.

    summer was on 2009-2010 school year. so if you went all of the year and wanted to go summer they would use what was left of your pell to pay for it.  If not then you have to pay for it.

    Fall starts the 2010-2011 school year.

    Gosh i really hope i understood them right. I already denied the loan. lol

  • alexhuntercody
    April 7, 2010 at 11:30 AM


    Quoting oboe_chik:

     

    Quoting alexhuntercody:

     

    Quoting oboe_chik:

     You got a pell grant for over 2 times as much as what your tuition will cost. Why would you need to take out the loan? Just to have spending money?

    i didnt take it out. the school automatically gave it to me. I dont' want it. But the college was trying to talk me out of denying it. I denied it now though. So i don't have it anymore on my records. :)

     Ok I thought you had already gotten the money from the sound of your post. Yeah I got a few loans for college that were above the cost of tuition and I bought books with them and gave the rest back. I am still about 47K in debt from school.

    no everything is managed online. So i had to log into their system to accept the awards offered to me. I accepted the pell grant but was unsure about the loan so that is why i called them; they tried to talk me out of it and then i posted here. But before i got any responses i went ahead and denied it. I have 500 in the bank i could use if i have to. SO it makes no sense to take it out.

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