Should I accept unsubsidized federal loans for college when offered both types?

The main difference is that unsubsidized loans start accruing interest immediately, even while you're in school. With subsidized loans, the government pays your interest while you're enrolled at least half-time. Whether you should accept depends on your financial situation. Some questions to consider: 1. Do you absolutely need the extra $2,000 to cover your educational expenses? 2. Could you work part-time instead to make up the difference? 3. Have you exhausted all grant and scholarship opportunities? Federal loans (even unsubsidized) typically have better interest rates and repayment options than private loans, so if you do need to borrow, they're usually preferable to private alternatives.

I took both subsidized and unsubsidized loans for my undergrad, and I don't regret the subsidized ones, but the unsubsidized definitely grew faster than I expected. That interest adds up when you're not looking! One strategy: accept both but only use what you need. You can return unused loan funds within 120 days of disbursement without penalty or interest. This gives you flexibility if an emergency comes up, but you're not committed to borrowing the full amount if you don't need it.

jst take both loans man thats free money lol. i took everything they gave me and used some for a new laptop and stuff for my dorm

As someone who's spent YEARS paying off my unsubsidized loans, I'd caution you to be very careful. The interest starts accruing immediately, and by the time I graduated, I had thousands in accumulated interest before I even started repaying! If you can cover your expenses without the unsubsidized loan, DON'T TAKE IT. I wish someone had given me this advice. That "free money" turned into a 12-year repayment nightmare for me.

Wait I'm confused - is EFC the same as SAI now? I thought they changed the name or something with the FAFSA updates?

Have you tried calling the Federal Student Aid phone number to discuss your options? I spent days trying to get through to ask about my loan options, then discovered a service called Claimyr that connected me to an agent in minutes. You can watch how it works here: https://youtu.be/TbC8dZQWYNQ or visit claimyr.com The FSA agent I spoke with was super helpful in explaining how the interest works on both types of loans and what repayment options would be available after graduation. Made me feel much more confident about my decisions.

One thing to consider - what's your major/career path? If you're going into a high-paying field, taking on a bit more debt might be reasonable. If not, minimize what you borrow. Personally, I wish I had asked more questions before accepting everything in my aid package. Now I'm on income-based repayment because my teacher's salary can't handle the standard payments on all my loans.

After reading through this thread, I'd suggest creating a detailed budget for your college expenses before deciding. List all your costs (tuition, fees, books, housing, food, etc.) and subtract any grants, scholarships, and money from savings/family. If there's still a gap after the subsidized loan, then consider the unsubsidized loan, but only for the amount you actually need. Remember that federal loans also have loan fees (about 1%) deducted from the disbursement amount, so you receive slightly less than what you borrow.

Great thread with lots of solid advice! As a newcomer here, I wanted to add that another factor to consider is your state's loan forgiveness programs. Some states offer loan repayment assistance for nurses who commit to working in underserved areas for a certain number of years. Since you mentioned nursing as your major, it might be worth researching what's available in your state - this could potentially help offset some of that unsubsidized loan debt down the road if you do decide to take it. The HRSA website has a good database of these programs. Just another angle to consider as you make your decision!