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Before you decide to borrow, please understand that if you can pay for your college education without having to borrow you should do so. If you do need to borrow, understand that you should only borrow what you need to go to school. With this understanding, however, please note that the loan amounts listed on your award letter were designed, in conjunction with other aid that you may be eligible for, to provide for sufficient funds to meet your entire estimated college costs (both direct and indirect). In other words, to cover not just what you will owe Chaminade, but to pay for other costs such as personal expenses.
It may not be necessary for you to borrow everything that is recommended if you intend to pay portions of what you need for college on your own. Therefore, you (or your parent if considering the PLUS Loan) are not obligated to borrow the amounts listed on your award letter, and for that matter, do not have to borrow any loans at all if you don’t desire. As everyone’s personal finances (as well as philosophies about borrowing) differ, you should use your own judgment as to whether you would want to borrow any of the loans listed on your award offer, and if so, how much.
NOTICE TO STUDENTS ABOUT DIRECT LOANS AND PLUS LOANS
