Financial Aid

[easb]

Hi guys! I am going to start DPT program this year. This is my first time I am dealing with financial aid, so I would appreciate any advice you can give me.
I applied for Stanford loan, but it is not enough to cover my tuition. I would need about $6000 more a year. I applied for a private loan through my school, but the private loan company wants me to find a cosigner, which will not work for me. My question is where should I go to get $6000 more a year? Maybe some of you have been in similar situation? I would appreciate your input!

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[jdaniels360]

Grad PLUS.

 

[jdaniels360]

Covers the rest plus whatever you need for living.

 

[ayyntee]

Did you try private loans through a bank, that is not through the school? I am also trying to find ways to fund my education but it looks like loans are the only way to go! Let me know what you end up doing...

 

[jdaniels360]

Won't get loans through a bank if they've been told they need a co-signer.

 

[easb]

Thanks, guys!
@ jdaniels360: Is Grad PLUS the loan for $20, 500 a yeas that schools offer to everyone? I did apply for that one. Hopefully I will get approved.
@ayyntee: I did not go to a bank. I have no credit history, so I am sure they will not give me money without a cosigner.

 

[jdaniels360]

You don't need a credit history. You just can't have bad credit. So if you have no record you'll get approved for Grad PLUS. You take out what you need then pay it back at least at the minimum payment once you graduate.

 

[DesertPT]

Unless you are in some kind of extenuating or unusual financial situation, there isn't a lot of reason why you should need private loans from a bank. Private loans should be avoided at all costs unless you have no other alternative. Grad plus should be able to cover everything you need beyond stafford loans just fine.

 

[easb]

My school does not participate in Grad PLUS loans. I can apply for it only through school, right?

 

[jdaniels360]

Grad PLUS isn't by school. Everyone can get it. It's just like stafford for undergrad, they have to give it to you unless you have adverse credit. Studentloans.gov. You'll find it there.

 

[easb]

Thanks, jdaniels360! My schools says that GradPLUS has to go through school, so if they do not participate, I cannot get this loan. Studentloans.gov also says, "
You may also verify that your school participates in this process after you select a loan type below. Your school will tell you what loans, if any, you are eligible to receive... The information that you provide will be sent to the school that you identify in the School and Loan Information section of the request, and will be used by the school to process your application for a Direct PLUS Loan." So it sounds like I cannot apply for it directly. ??? Do you think I am doing something wrong?

 

[IlDestriero]

What schools don't participate in Grad plus loans? Making it harder to attend is stupid.

 

[jdaniels360]

Easb, I've never heard of anyone in this situation, if this is truly the case, that's absolutely ridiculous. I would call the school and ask how others pay to attend their program if grad PLUS is not offered there.

 

[okramango]

I've heard U of St Augustine doesn't participate in Grad Plus loans. Most schools do, though.
easb, are you already decided on a specific program? If they don't give Grad Plus loans, I believe private loans or scholarships would be the only other way to get financial aid beyond the Stafford loans.

 

[jdaniels360]

Private it is then... Better find a cosigner.

 

[easb]

Yes, it is University of St. Augustine. And that is my first-choice program.
Thank you everyone for your input! I appreciate it very much! At least now I know for sure that private loan is the only option for me. I will figure out how to make it work. THANK YOU VERY MUCH, EVERYONE!

 

[okramango]

It could be worth giving their financial aid office a call and seeing if there are any other alternate funding sources that their students use. Good luck!

 

[DesertPT]

Ya I would really do your homework to be sure before you take out private loans.