It's usually best to wait until you have received your bill before applying for a loan so you have a better of the amount you need. But if you need to apply before you receive your bill, yes, you should estimate how much you'll need to borrow. You are permitted to borrow up to the cost of attendance minus any financial aid you receive, but we recommend that you keep your debt to a minimum and only borrow what you think you will need. The cost of attendance includes tuition and fees, books and supplies, personal costs, housing, and your meal plan. It usually includes off-campus housing, though check with the financial aid office to be sure. We have a tool, our College Cost Calculator, that can help you determine how much you may need to borrow.