I have a son heading to college in the fall. He is eligible for a Stafford loan. My question is–if he has money that he got from graduation and money from a CD that will come due in August, and generous grandparents that would give him a “loan” (he would pay off)
this coming year through workstudy rather that in four years. Should he still take the loan? I would like him to pay what he can now and not have to worry about a loan to pay off in four years.