AHHHH, financial aid sux

[callmehere]

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Hey,

I just received my Financial Aid Package today (online). I see that after my subsidized loans and stuff, I'm still in deficit of $40k under the expected cost of attendence (I'm going to a state school too!!). So it looks like I'm going to have to take out $40k in unsubsidized loans 😡 just for the first year. Is this the normal average most students take out? $40k in unsubsidized loans sounds like a lot to me, just for one year? I knew dental school was expensive, but I thought most of the loans would be subsidized while I was in school, so I wouldn't have to worry about the interest till I graduated. Any info would be much appreciated. Thanx 🙂

 

[rcmonkeypie]

it is so painful to look at the FA package, painful, painful....

 

[JavadiCavity]

It's absolutely normal for unsubsidized loans to make up the lion share of your financial aid. And, with interest rates around 2%, that is almost as good as free.

 

[bbpower]

Doesn't sound good!!! 🙁
Sean, how did u access your FAN? via email ur URSA? I'm waiting for mine as well... need to make plans.

 

[dane4695]

It's a shame that that is "normal."

 

[onetoothleft]

how much are you allowed to (or how much did you) borrow your first year (if you don't mind me asking)?

in:

Subsidized?
Unsubsidized?
Private loans?

The reason I ask is because I think I will need to borrow a ton . . .

 

[callmehere]

Okay, so here's a little update.

From what I've heard from a lot of med students (I work with a lot...grimey med students haha j/k), the max for subsidized loans was ~10k last year. I don't know if that's variable due to financial need or if it's like that across the board, but I'm guessing that's going to be the range for maximum subsidized loans. So I guess it's okay... My conception of how I was going to fund my education was a little too optimistic I suppose. BBpower, I checked my financial aid package by logging onto URSA. They say that the FAN is unavaible, but they break down next year's financial aid summary on the bottom of the page (financial aid page). Oh well, 2% it is...

 

[callmehere]

BBpower,

I'm not going to use URSA as a reliable source of financial aid notifications anymore, I'm just going to wait until I receive the actual hard copy. Earlier this morning, my package was for ~15g's subsidized, now's it's down to $11.5g's. It's either that the financial aid summary posted is not final, or that Frank didn't like my original post and deducted $3.5g's to get me back... 😱 Nah, he'll take care of everyone I'm sure 😀

 

[HBomb]

Hey,

I just received my Financial Aid Package today (online). I see that after my subsidized loans and stuff, I'm still in deficit of $40k under the expected cost of attendence (I'm going to a state school too!!). So it looks like I'm going to have to take out $40k in unsubsidized loans 😡 just for the first year. Is this the normal average most students take out? $40k in unsubsidized loans sounds like a lot to me, just for one year? I knew dental school was expensive, but I thought most of the loans would be subsidized while I was in school, so I wouldn't have to worry about the interest till I graduated. Any info would be much appreciated. Thanx 🙂

I believe these points are correct:
1) You'll max out in subsidized and unsubsidized at 38,500.
2) Whatever you were offered initially in subsidized/unsubsidized Stafford, you can request the remainder in unsubsidized from the FA office up $38,500 combined subsidized/unsubsidized Stafford. It's just a quick form you fill out.
3) The rest if there is any, you can get from a private loan.
4) I think interests rates this year for unsub is 2.77%
5) UCLA's and UCSF's tuition next year will rise 20% and 10% the following. At least this is what I hear.