Adjusting Cost of Attendance

[JewlsdB]

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Hi all,

I have a question regarding the likelyhood of the financial aid department adjusting the cost of attendance to meet costs of living. I hear it's rare, but I am a single mother. I don't see how 15K a year will pay for all costs associated with living on your own while earning a doctorate, especially with a child. I have no problem living off of ramen noodles, but I doubt my growing child will be able to. Some schools report they will add a day care allowance, but that will probably still leave me short.

I realize I will have to contact each university's financial aid department seperately, but any insight or personal experience will be helpful. I still have some time to figure out how I am going to pull off the cost of higher education.

Thanks!

 

[nontrdgsbuiucmd]

I believe this is determined state-by-state, in mine the only adjustment that I have heard of is an increase, capped at roughly $700 per month, to pay for childcare. You have my respect and sympathy as I could not have done this (raised kids) w/out a spouse.

Personal experience from living through tough financial times -- we shop at many different stores -- bulk meat from the butcher is purchased 6 months at a time, it goes around $3.50/lb ranging from hamburger to steak cut however we want; staples from Target/Walmart, fruit/vegetables from a local grocer that's got the best quality at relatively low prices.

+ being careful with time. I'd stopped volunteering, after some time, as with kids, a household, etc, it is not feasible to spend hundreds of hours doing something for free, versus working to help support the household. You may need to consider some type of work, if not then when the little one is a bit older? It sounds like a tough path!

 

[clinicallabguy]

Hi all,

I have a question regarding the likelyhood of the financial aid department adjusting the cost of attendance to meet costs of living. I hear it's rare, but I am a single mother. I don't see how 15K a year will pay for all costs associated with living on your own while earning a doctorate, especially with a child. I have no problem living off of ramen noodles, but I doubt my growing child will be able to. Some schools report they will add a day care allowance, but that will probably still leave me short.

I realize I will have to contact each university's financial aid department seperately, but any insight or personal experience will be helpful. I still have some time to figure out how I am going to pull off the cost of higher education.

Thanks!

Hey Jewls,

I am married with soon to be two kids (the 2nd one is coming within the week, I hope). I will start medical school this fall. My wife and I would like for her not to have to work, so that's 4 people on a COA that's estimated for 1 person. The school I plan on attending will not allow an increase in COA for me except for the difference that I will pay on the school's health insurance plan from a single person. Other than that, I have to try to figure out how to live on 14.5K from August to June.

It has caused me a lot of angst to consider what I should do, but I think that I am going to get a direct-to-consumer loan above the cost of attendance. You can get private loans that do not need to be certified by your school, and I think that I would rather do that than be forced to work or force my wife to work.

I considered both, but whenever you ask on SDN "Should I work in med school?" people start questioning your sanity. I may consider it again after my first exam.

I don't know if this helps, but maybe it helps to know that there are people in somewhat similar situations. I admire your ambition going it as a single mom. Good luck!

 

[JewlsdB]

Nontrdgsbuiucmd and Cliniclabguy- Thanks for the info! I am already thinking of the many ways to get creative about saving money. I have been doing more research and see that some schools allow adjustments for room and board, and then there are others that won't seem to budge other than daycare expenses. I will only apply to schools that seem to have more options for students with children. My daughter is 7, so luckily she'll be in school during the day. I'll only need care for her after school.

I have thought about getting a job as well. I too, have also heard it's not possible. I'll have clinic rotations during the day and lectures at night. School is year round, but a lighter load during the summer. I can try to work my tail off during those three months to earn the money I need to close the gaps. Cliniclabguy, I feel for you. Maybe your wife can get a job where she can bring the kiddos. I had a job at a church for a while and I was able to bring my daughter with me. It was such a loving environment, everyone was so nice. It's just a suggestion from my personal experience. Raising kids isn't easy.

I probably won't utilize any private loans because I feel they are the devil, and they scare me to death. 🙂 I don't like the variable interest rates, who knows how high they will get as the economy improves. These loans you talk of will loan you money above COA?

Thank you for the encouraging words. If there is a will there is a way... there always is. I have yet to let my circumstances get in the way of my education. I wish you and your families the best. It will all work out.

 

[clinicallabguy]

Nontrdgsbuiucmd and Cliniclabguy- Thanks for the info! I am already thinking of the many ways to get creative about saving money. I have been doing more research and see that some schools allow adjustments for room and board, and then there are others that won't seem to budge other than daycare expenses. I will only apply to schools that seem to have more options for students with children. My daughter is 7, so luckily she'll be in school during the day. I'll only need care for her after school.

I have thought about getting a job as well. I too, have also heard it's not possible. I'll have clinic rotations during the day and lectures at night. School is year round, but a lighter load during the summer. I can try to work my tail off during those three months to earn the money I need to close the gaps. Cliniclabguy, I feel for you. Maybe your wife can get a job where she can bring the kiddos. I had a job at a church for a while and I was able to bring my daughter with me. It was such a loving environment, everyone was so nice. It's just a suggestion from my personal experience. Raising kids isn't easy.

I probably won't utilize any private loans because I feel they are the devil, and they scare me to death. 🙂 I don't like the variable interest rates, who knows how high they will get as the economy improves. These loans you talk of will loan you money above COA?

Thank you for the encouraging words. If there is a will there is a way... there always is. I have yet to let my circumstances get in the way of my education. I wish you and your families the best. It will all work out.

I think that things will go well for you because it seems like you are preparing well in advance. I didn't know that some schools would adjust the COA while others wouldn't when I applied to schools, so it wasn't something that I considered. I am really happy with the school I ended up at, though, so I think that things are going to work out.

You're probably right about private loans being the devil (and all of this medical school debt is the devil!). But, I think I will go through with it. And, yes there are some education loans that you can find that are above the COA.

https://www.wellsfargo.com/student/graduate/education/

Right now this is the only one that I've found. I figure I need an extra $5K a year, so I think I will get one lump sum of 20-25K during MSI.

 

[JewlsdB]

Clinicallabguy- I tried PMing you about Wells Fargo private loans. Not sure if it worked though. It's not in my outbox. If not i'll resend.
Thanks!

 

[clinicallabguy]

Clinicallabguy- I tried PMing you about Wells Fargo private loans. Not sure if it worked though. It's not in my outbox. If not i'll resend.
Thanks!

I got it. Thanks.