Disillusioned with Financial Aid

[vlklngboy11]

I guess I should have known better going into this but has anyone become really disillusioned with their financial aid and the cost of getting an MPH?

I received back two of my financial aid packages for WashU and BU and its really dampened my spirits. I just had BU calculate my need as $2,000 a semester coming off of a year that I made about that with no assets. Even all the loans they threw into my package didn't come close to covering the cost of attendance. WashU didn't even give me that in their package.

It looks like I might be attending UNT just because no where else I got into seems like they will even be in the stratosphere of reasonable pricing, which is a bummer because I have my doubts that UNT will take me to places I want to go in life.

Should I expect better from some of my other schools or is this just the reality of how much it will cost?

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[Stories]

Graduate school programs don't give nearly as much financial support as any undergrad program. Just a rule of thumb to know going in. Doing a PhD is one way of avoid costs--but at the expensive of much harder path to get accepted and longer (and specific) course of study.

 

[moonwave89]

What really helped me is actually laying out all of the costs in a spreadsheet, figuring out about how much I'd expect to make coming out of the MPH, and then comparing the difference. So for instance, I took my financial aid packages and calculated the amount of debt I'd have after the program is over. Then I looked at the types of positions I could expect to obtain after I graduated and their salary ranges (I took the lowest salary for the jobs I found as the least desirable scenario compared to what I actually hoped to get paid). I subtracted out living expenses e.g. rent, groceries, average credit card bill, as well as my undergrad loans, health and dental insurance (using my current position as a starting point), and then looked at how much I had left. That amount I figured would either go into savings or paying back the loans, and it really depends on how much you can/are willing to pay. With my tentative plan, I'd pay back my loans in less than 8 years. I'd be saving less than I'd prefer during that time period, but I ultimately decided I wanted to prioritize reducing my debt. Laying it all out took about 10 minutes and in the end made me feel a lot better because I at least have an idea of what I am getting myself into.

I don't know your circumstances, and it's definitely not an ideal scenario to go into debt. Nor is it a light decision to make, but like many others say, you're making an investment in your future by going back to graduate school and that really requires some careful and thoughtful planning and thinking about what you hope to get out of the program and what you hope to do/gain in the long term. Hope that helps!

 

[vlklngboy11]

Thanks for the responses, I've set up a spreadsheet with cost of tuition, cost of living on and off campus and the price index of the cities. My main surprise is that I didn't expect the amount I would have to borrow would exceed the amount offered in stafford loans.

 

[MissIrish]

The maximum Stafford that can be taken out each year is $20,500. Grad PLUS loans are also available from the government up to the cost of attendance and they can fill the gap. They are applied for separately.

I am disillusioned as well and am currently exploring alternative avenues for earning the MPH. I haven't done my taxes or filled out the FAFSA because grad school financial aid is all loans for most people unless you are a PhD student. Scholarships/grants are the perfect recruiting tool, so a program that knows what it is doing tells you that amount when an offer of admission is made, or not long afterwards.

 

[vlklngboy11]

The maximum Stafford that can be taken out each year is $20,500. Grad PLUS loans are also available from the government up to the cost of attendance and they can fill the gap. They are applied for separately.

I am disillusioned as well and am currently exploring alternative avenues for earning the MPH. I haven't done my taxes or filled out the FAFSA because grad school financial aid is all loans for most people unless you are a PhD student. Scholarships/grants are the perfect recruiting tool, so a program that knows what it is doing tells you that amount when an offer of admission is made, or not long afterwards.

Ah okay, I was kind of confused about that. Thanks for the information about the stafford and grad plus loans, I will look into it more; but hell, the schools don't even make that info very easy to obtain. Yeah I guess the most annoying part for me is colleges that advertise their need-based aid, but then don't even come close to meeting that need. It seems a little deceitful.

 

[MissIrish]

I understand. I think it is misleading to call work-study or loans "need based." I know there are funds earmarked for work-study and that jobs exist because of that, but it's still a job. Anyone can get one. Need based to me means free money, tuition discount, etc. Not, "You already have nothing, so let's give you the privilege of having negative nothing by burying you under $100K worth of loans!"

 

[Stories]

I understand. I think it is misleading to call work-study or loans "need based." I know there are funds earmarked for work-study and that jobs exist because of that, but it's still a job. Anyone can get one. Need based to me means free money, tuition discount, etc. Not, "You already have nothing, so let's give you the privilege of having negative nothing by burying you under $100K worth of loans!"

At least with a work-study position, the job is guaranteed and starts as soon as you arrive on campus.

That said, the other option is no loans at all. Or being financed entirely with a private loan. At least we have the option of going to school even if we can't actually pay for it initially.

 

[vanilladicedicebaby]

I guess I should have known better going into this but has anyone become really disillusioned with their financial aid and the cost of getting an MPH?

I received back two of my financial aid packages for WashU and BU and its really dampened my spirits. I just had BU calculate my need as $2,000 a semester coming off of a year that I made about that with no assets. Even all the loans they threw into my package didn't come close to covering the cost of attendance. WashU didn't even give me that in their package.

It looks like I might be attending UNT just because no where else I got into seems like they will even be in the stratosphere of reasonable pricing, which is a bummer because I have my doubts that UNT will take me to places I want to go in life.

Should I expect better from some of my other schools or is this just the reality of how much it will cost?

This makes me so sad - I don't want you to settle for UNT. and YES - it will be settling. YOU CAN DO BETTER! There is a 95% chance it will poison your spirit and make you hate what you were previously passionate about.

 

[Pudu2009]

This makes me so sad - I don't want you to settle for UNT. and YES - it will be settling. YOU CAN DO BETTER! There is a 95% chance it will poison your spirit and make you hate what you were previously passionate about.

If you look at his signature, it says that he is attending UMich.

 

[vanilladicedicebaby]

If you look at his signature, it says that he is attending UMich.

You know, I might have, but I also might not have. So - in the big scheme of things, why do you find it necessary to point out what others overlook on a graduate school forum?

 

[sloth17]

You know, I might have, but I also might not have. So - in the big scheme of things, why do you find it necessary to point out what others overlook on a graduate school forum?

This original post was posted in February. It is highly unlikely that someone is still deciding on a program during the last week of June, as the deadline to commit passed a while ago. You have also recently commented on a post from 4 years ago with the same sentiment about UNT. Either you are not looking at dates, or you are commenting for your own amusement. Nobody is being purposefully rude, but we all come here to either help others or to receive help from others.

 

[vlklngboy11]

Thanks for the sentiment. I wound up ~following my dreams~ and I will be starting at UMich in the fall.