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Katelynn
Student
Salt Lake City, Utah
5
Questions
Asked
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How did you determine how much federal loans to take out?
I'm on the fence on how much of the federal aid I was offered to accept? I don't want to be stressed while in the program to be working to pay it off, but I don't want to be buried in student loans in my future either?
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1 answer
Miha B
Academic and Career Counselor | Human Resources Specialist | Internal Auditor
30
Answers
Winter Park, Florida
Updated
Miha’s Answer
Hi Katelynn,
That’s a really important question, and it’s great that you’re thinking about it early on.
When deciding how much federal aid to accept, it helps to start by creating a basic budget.
Consider tuition, fees, books, living expenses, and any personal bills you’ll still need to cover. From there, determine how much funding you actually need versus what was offered.
Federal loans can be a smart option because they usually have lower interest rates and flexible repayment options, but it’s still important to borrow only what’s necessary to avoid long-term debt.
Some students accept just enough to cover tuition and essentials, then work part-time or use savings to reduce borrowing.
Others take the full amount to avoid working and focus fully on school. It really depends on your comfort level with debt and how much you want to balance work and school.
A good rule of thumb: Borrow only what you need, and always think ahead to how repayment might fit into your future budget after graduation.
That’s a really important question, and it’s great that you’re thinking about it early on.
When deciding how much federal aid to accept, it helps to start by creating a basic budget.
Consider tuition, fees, books, living expenses, and any personal bills you’ll still need to cover. From there, determine how much funding you actually need versus what was offered.
Federal loans can be a smart option because they usually have lower interest rates and flexible repayment options, but it’s still important to borrow only what’s necessary to avoid long-term debt.
Some students accept just enough to cover tuition and essentials, then work part-time or use savings to reduce borrowing.
Others take the full amount to avoid working and focus fully on school. It really depends on your comfort level with debt and how much you want to balance work and school.
A good rule of thumb: Borrow only what you need, and always think ahead to how repayment might fit into your future budget after graduation.