Question: I am curious–when parents applying for financial aid, fill out the application, one of the questions is, would you take a student loan that has to be paid back? Does the answer to this question determine in any way whether your child can recieve a grant or not? This is first time doing this. Thanks for any info.
Answer: Student loans are pretty much the first layer when building a financial aid package for a student. If you say you are interested in loans then the college will include that in your aid package and then see about filling the rest of your need from all other sources, including grants.
If you say that you are not interested in loans then they may leave it out of your aid package, but you won’t get any greater grants. They’ll just subtract the loan amount they would have offered from the total aid offer. Estelle, I doubt that a yes answer to the loan question will influence whether a grant a grant would be given but it could influence the college to give a smaller grant.
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