This is probably a stupid question, but what's considered a "good" deal when it comes to financial packages? As in, I assume that if it's fairly "standard" for all schools to offer $5000 (let's say), then it's not so exciting to see that you got that amount, whereas $10,000 would be more exciting. Any idea what FSM usually gives out? Or what amount would be considered a great deal?
Also, I see 3 lines in my report -- (1) FSM Grant, (2) Unsubsidized Federal Stafford Loan, (3) Federal Graduate Plus Loan. Is my understanding correct that "FSM Grant" is basically the need-based scholarship ("free money," no need to pay back) that the school is giving me? And both (2)+(3) are loans I'll be paying back. On that note, how does the school divide the amounts between the two different loans, and what does that actually mean for me?
Lastly(!), to approximate what my debt would be at the end of medical school, I would just take (2) and (3) loans, add them up, multiply by 4 years, and that would be the number?
Thanks!! I'm not very familiar with these financial packages...