Financial aid w/ HPSP

stdmufin27 said:

Hey once again. With the HPSP tuition/stipend monies can you still expect to receive financial aid? Namely unsubsidized/subsidized loans? Being married w/ a kid I don't think that the $1500 or so a month will cut the mustard. Thanks.

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My school allows me to borrow around 17k a year on top of all the HPSP stuff.

MUSC told me that I would qualify for some extra so to go ahead and submit my packet.

jfitzpat said:

My school allows me to borrow around 17k a year on top of all the HPSP stuff.

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My school allows me the same (roughly). You should be able to pull the Stafford loans...I would be surprised if you couldn't.

While the military pays for your tuition, books, and fees you can still get the stafford loans (sub and un-sub) for the remaining living expenses. At our school 1st and 2nd years get ~14k while 3rd and 4th years get ~17k for living expenses for the school year.

Yeah my school told me the same. You should be able to get the Stafford if you want it, which to me is a great relief.

My fin aid person is being a jackass. He says with the HPSP I will only qualify for a maximum of maybe 1500.

Do you guys have any dependents that might be playing in your favor for your aid packages?

KOM said:

My fin aid person is being a jackass. He says with the HPSP I will only qualify for a maximum of maybe 1500.

Do you guys have any dependents that might be playing in your favor for your aid packages?

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Yes I am married and have an 18 month old son. I probably should have noted that in my previous post. Sorry.

jfitzpat said:

My school allows me to borrow around 17k a year on top of all the HPSP stuff.

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Do you have any dependents?

caloriefree said:

Do you have any dependents?

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Yes, but I know people who are also on HPSP that don't and still get the loans. I've heard that it is a school specific thing. Some schools consider the stipend to be living expense and deduct from the award while others don't. I don't think it is fair if they do because it also counts as income on FAFSA so it is kind of like a double whammy.

My school doesn't count the stipend as scholarship b/c it is taxed (in SC) just like regular income. It'll hurt my FAFSA estimated contribution next year, but this year no. Charleston is also pretty expensive to live in (not a NY or CA, but still high).

My stipend was around $900 back when...there was no way I could live on that being married. I hope it works out for you with your financial aid folks. My financial aid office had a formula to calculate exactly how much I was allowed to borrow on top of all the support I got from the Navy. It turned out to be around 13k a year I borrowed as a financial aid package. GL!