Must you use Federal student loans in the academic year they are initially offered, or is it possible to decline Federal loans for Freshman and Sophomore years, (or decline the unsubsidized loans), then stack the unused amounts from those years to pay for later years?
We have enough saved for 2 years of in-state public, (or private equivalent with merit), for both sons, ('16, '18), without loans, plus a 3rd year for each with student loans. We may have to take out PLUS loans for the 4th years, (or for the final 2 years of younger S, if we decide to distribute it that way). We do have plans to downsize housing and increase my hours worked once both are in college, to be able to pay more out of current income, but are not counting on that in our calculations.
Especially for the unsubsidized loans, it seems like it would make sense to defer them until later to avoid interest if possible. We'll need both kids to take out their max loans eventually. Is it possible, and if so, does it make sense, to defer the year 1 & 2 loans to years 3 and/or 4? Hope I'm making sense!
Thanks!
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