Pull out more money than actually needed?

Question

I keep hearing and reading that you shouldn't pull out more money than you actually need for college. I just received offers for gov't loans but I'm not sure exactly how much to take. It adds up to the cost of my college tuition, but I'm getting two jobs this summer and I'm living in a cheaper dorm than usual and on top of that, I've been applying for scholarships. My point is that all these things could drastically reduce my cost of attendence. So should I just pull out more just to be on the safe side?

Answer 1

Being a financial aid recipient myself, I suggest to only take out what you need. Do not take out more because chances are you are only going to spend it on things that are not school related. which in the long run can cost you more. Also, maybe next year they will offer you money again and offer you loans. Trust me you don't want to be paying off loans after you graduate.