Fed Financial

if i take an additional student loan will it subtract from my federal financial aid?

i have financial aid through FAFSA but it isn't exactly enough and I need to take out an additional loan, if it is a student loan will my financial aid be revised and will i be given less? or does it have no influence on the money i receive from FAFSA? I ask this because student loans are usually run through your university's financial aid office...help please. asap.

Public Comments

1. It is true you can't receive more fin aid than the cost of attendance at your school. So if the additional loan will go OVER that amount (and in my experience it very rarely does because when they consider the cost of attendance they are also considering living expenses and such) then yes it COULD reduce the amount of other aid. If you are considering taking out a private student loan - DON'T DO IT. Those substandard loans have higher fees, higher interest rates and substandard terms. See if you are taking out the max of Stafford loans from your fin aid office. If you are, then consider transferring to a cheaper school. Most do go to college without having to take out private loans. Here is a good publication about loans.
2. in your situation the best is: SCHOLARSHIP I found interesting information about your answer, THE BEST college loans,SCHOLARSHIPS, college grants here.http://all-student-loan-consolidation.blogspot.com/2007/07/scholarships.html