Should You Turn Down Parts of An Award Package?

Many parents think that by turning down part of the financial aid package, they are turning donw current (and in some cases future) aid that could be awarded by the school. In some cases, this may be true, but when you have a chance to get grants, scholarships, work-study or need-based loans, take them all. If you tell the FAO's that you are turning down the loan or offer, they are going to give it to someone that "needs" it and you probably will have a difficult time getting it if you want it later.

The best thing to do if you are not sure if you need the money is to accept it now. You can always turn around and pay if off later if something else comes up.