You will get extra time to pay it back was the last line. You don't need it but it will be some extra money in your bank until you graduate, so its good to have more cash...a lot better than using credit cards , plus who knows you might need more cash anytime. Also if you don't get a job later after graduation, things like deferment, forgiveness, cancellation, waived, bankruptcy ,,one or other might be helpful to you depending on ur situation. . You also will be able to deduct the amount you pay on student loan interest each year when you do your taxes. ...Good luck slack ..