school help.

[Sarlon]

I'm a little confused on something and I'm hoping any college students, past or present, can help me out.

I got my tution bill form the school finally, just under $4000 for this semester, not including books, but DOES include all fees I need for my classes.

I've been approved for a pell grant, for just under half the amount I need, which is good since pell grant's don't need to be repaid right?

but I have 2 other options, and not sure which one to take or if I should take both?

Subsidized Direct Loan
Unsubsidized Direct Loan

[Kheldarson]

Don't take an unsubsidized loan unless you have to. They accrue interest as soon as you get them. A subsidized loan defers interest until you're no longer meet the deferment requirements, i.e. have to start making payments.

[Sarlon]

the subsidized amount plus the pell grant is not enough to cover my bill

[Sapphire Silk]

Go ahead and get the unsubsidized loan if you need it. You can reduce the bite by paying the interest as it capitalizes. It'll reduce your overall interest burden.

If you have any extra when you get your disbursement (probably in October), if you don't need it to pay bills, make a payment towards the balance (you can do this) it will help reduce your overall debt when you graduate.

You're right in the Pell Grant does not have to be repaid.

[Kheldarson]

the subsidized amount plus the pell grant is not enough to cover my bill

That's why I said unless you need to.

Since you have a need, then take it, but I wouldn't take more than you need (but I'd include book costs and check to see if a new computer would be beneficial to you; especially if you have online courses).

[Soulstealer]

Take the entirety of the subsidised loan first then apply for the rest with unsubsidised. It's one extra thing to do but will save you a bit with the interest in the long run.

[EricKei]

I'll echo the above stuff ^_^

Use the Pell Grant, then apply subsidised, then the unsubsidised loan (if you have the option to only borrow SOME of it, do so), and then just pay as much of the unsub loan back as you can spare, right away.

e.g.: If you need to take 10K as an unsub loan and have 3K in expenses remaining at that point, pay the 3K to the school/books/etc, and pay back at least 6K on the unsub loan ASAP. More if you can spare it, but it may be wise to hold a bit aside for immediate needs like gas, food, and as a buffer for unexpected expenses.

[Sarlon]

school expense wise I need new clothes (haven't bought new clothes in 7 years, pants and shirts and underthings), books, school supplies (including printer ink), new back pack (haven't bought a new bag since 1995).

my laptop was brand new in October of last year, with the current edition of Microsoft office, as well as my desktop being 5 years old it still runs like brand new with a power punch behind it, also with the current edition of Microsoft office.

school supplies I'm considering are:

• 8gb flash drive
• 2 inch folders for classes
• spare paper (I'm old fashioned with handwriting things)
• pens/pencils
• highlighters
• file folders for inside the folders for hard copy paperwork
• monthly organizer
• large wall calander for keeping up with important dates
• printer ink (black/color)
• printer paper
• Bag of Holding (as backpack)
• wireless mouse for laptop

Any more suggestions?

[aqutalion]

Notebooks for taking notes?
Comfortable shoes, if you have to do a lot of walking to class.
Something to keep your pens from getting lost. Because they will.

[Sarlon]

notebooks color coded (only taking 5 classes this semester), and since I will have to move quickly between 2 classes (10 minute break between my last 2 classes of the day, and in different buildings), I'll be getting a small umbrella and REALLY good walking shoes.

Also going to have a small duffle bag, for when I use the university pool and gym. for waterbottle, swimsuit, towel, and a few things to shower with. I only have an hour and a half break between my morning and afternoon class so I plan on doing this in the afternoon, after my last class of the day (about 3:30), so I don't risk showing up late/stinky.