Accept Federal Direct or Nah

[surprise_quiche]

So I received tuition remission through an assistantship and a fellowship, but today the bursar also informed me of a federal direct unsubsidized loan.

Since all tuition and other associated fees should be covered through this fellowship, should I accept the loan?

[Sandmaster]

On 7/10/2018 at 2:38 PM, surprise_quiche said:

So I received tuition remission through an assistantship and a fellowship, but today the bursar also informed me of a federal direct unsubsidized loan.

Since all tuition and other associated fees should be covered through this fellowship, should I accept the loan?

So, I actually work in the financial aid office at the school you are going to (for a few more weeks), feel free to reach out if you want more help and we can set up an appointment to chat too. Otherwise, I would seriously question if you need the money. Loans at the graduate level carry a much higher interest rate than their undergraduate counterparts and since it is unsubsidized, interest begins accruing upon disbursement. If you absolutely need the money to live then sure take out only what you need, but I do not recommend taking it all out if you do not absolutely need it.

Good luck!