sooooo how is everyone planning on paying for this school? even if you get the maximum financial aid, its going to be preeetty expensive compared to alot of the other schools..unless im reading it wrong. isnt this the most expensive school in the nation? trying to see if its even worth going to the interview because me no have monies
So yes, this school is quite expensive, one of
the most expensive in fact. However, there are a few things to consider for any private/expensive school:
1.) The cost of attendance (COA) at GWU has actually decreased slightly in recent years. Part of the reason for GW's probation back in 2008 was their high COA, which they've consequently tried to bring down. GW is still really expensive, but the fact that the cost has actually decreased is somewhat encouraging considering the trend at most schools for tuition to increase a LOT every single year.
2.) You might hit the jackpot with a big scholarship. This is unlikely, but you never know unless you go through the whole application/interview process.
3.) Public service loan forgiveness: Are you interested in any specialties that might have long residencies/fellowships? If so you are likely to be in residency for 5+ years. In that case, so long as you are working for the state or local government or for a non-profit, approved organization, etc, you will be eligible for public service loan forgiveness after 10 total years. Doing income based repayment during a 5+ year residency means you will have minimal payments during residency then <5 years of actual repayment before the rest of your loan balance is
entirely forgiven by the federal govt. Two major assumptions of this are 1.) That you
will in fact be working in an eligible field and 2.) that public service loan forgiveness will even exist in 10+ years. Read the tea leaves as you see fit...
4.) Many
states have some sort of loan forgiveness program. For example, North Carolina offers up to $56,000 in "Forgivable Education Loans" to state residents, and these loans are entirely forgiven if you practice in North Carolina in any specialty for at least four years. I am still trying to determine if these loans can be applied to out-of-state institutions like GW, but make sure you check the websites of your own state's loan programs in case there is something you might be eligible for.
EDIT: I am currently in the process of finding out if I can use NC's forgivable education loans at GW. I'll let you guys know what I find out. Any other NC residents accepted to GW so far?