Other OT-Related Information How to cover OT school tuition?

[OTD2020]

Hi! I’m currently applying to OT schools and getting nervous about cost. I’m having trouble finding information on how federal student aid differs as a grad student, and options other than loans for grad schools. Are grad assistantships an option? Do they cover tuition or just pay you? How have you or do you plan to cover tuition? Did you plan to pay off undergrad before starting or let that go and save up to pay more out of pocket for grad school?

Thanks!

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[careerchangeOT]

The difference for a grad student is you accrue interest when you're in school. My undergrad was paid off but I'm an old student who has been out of school for quite a while.

 

[OTOnTheWay]

Hi! I’m currently applying to OT schools and getting nervous about cost. I’m having trouble finding information on how federal student aid differs as a grad student, and options other than loans for grad schools. Are grad assistantships an option? Do they cover tuition or just pay you? How have you or do you plan to cover tuition? Did you plan to pay off undergrad before starting or let that go and save up to pay more out of pocket for grad school?

Thanks!

As a grad student and if you are going through FAFSA, you get up to $25,500 a year that has a 6.8% interest rate. If you need more than that to cover tuition or cost of living, you can take a unlimited amount of a GRAD plus loan which has a 7.8% interest rate. Interest accumulates throughout your schooling and you are required to start paying off your loans 6 months after you graduate. Some programs have grad assistantships (USC I believe?) but don't count on getting one and don't count for them to pay you much either. Really just depends on the school!