Finaid Loan Amount: Calculate What You Need

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Determining the appropriate amount for a private loan involves careful consideration of tuition costs, personal expenses, and existing financial aid like Stafford loans. One key point of discussion is whether to subtract work-study funds from the total loan amount. While work-study offers a guaranteed amount, it is contingent on employment, which can be unpredictable due to class schedules or job availability. It is advised not to subtract work-study from the loan calculation, as this approach may lead to slightly higher loan interest but provides a more stable financial foundation without relying on uncertain income from work-study positions.
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Ok I am trying to figure out how much money I should take out for a loan(private).
I took my total tuition and subtracted personal expenses and books(I can afford those), then subtracted how much I took out for my stafford.
The thing i can't decide on is do I stubract my work study?
 
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Work study money is a guaranteed amount that has been set aside for you, but you ONLY get it if you work. All you work will be at an hourly waged, and generally you are responsible for finding your own work.

My advice is don't subtract it. You will incur a little bit more loan interest, but you won't have to rely on something that isn't a sure thing since you may have to quit your job or reduce its hours to focus on classes or whatnot.
 

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