Preparing for/Accepting my first direct subsidized loan

I am working through my entrance counseling on studentloans.gov, and it's just a load of information that I am sorting through.

This will be my first loan ever. Does anyone have any advice?

Some things about my situation:

The loan is subsidized and for $5500; I'm planning to accept $3000 this year to cover the rest of my tuition (fafsa covered most of it) and books/supplies.

• Are disbursement periods dependent on the school year system (semester v. quarter)? I currently understand it to be two disbursements per year.

I'm a 3rd year transfer to Cal Poly Pomona, expected to complete my program in 3-4 years, and I have already been in community college for about 5 years.

• If I am coming from 5 years at CC and now starting a 4 year program, am I still eligible for 6 years (150%) before repayment? Does my eligibility period take into account prior years of study?

I plan on working during the summer and applying for work-study next year to reduce the amount of borrowed money I spend.

• Will work-study reduce my financial aid award? Typically, how much of an impact does this have on the loan amount I am offered the following year?

Thanks for any help you can offer. I'll continue reading as much as I can in the meantime.