Class of 2017.... how you doin?

[kernel]

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FAFSA award letter came in yesterday. It's quite sobering to stare at all the numbers after you crunch them into those loan payment calculators.

Now I just need to figure out how to cover living expenses for four years 🙁

 

[wildcatj]

FAFSA award letter came in yesterday. It's quite sobering to stare at all the numbers after you crunch them into those loan payment calculators.

Now I just need to figure out how to cover living expenses for four years 🙁

Your fin aid won't cover living expenses?

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[kernel]

Your fin aid won't cover living expenses?

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No, the federal ford direct unsubsidized is capped at 20,500 per year... that's about 1000 less than my yearly tuition 🙁

...At least, this is what I've been told/read. If you're allowed more as a health student, why didn't I get it? I don't look needy on paper (parents...) but when you fill out FAFSA as a grad student you are automatically considered independent.

 

[wildcatj]

No, the federal ford direct unsubsidized is capped at 20,500 per year... that's about 1000 less than my yearly tuition 🙁

...At least, this is what I've been told/read. If you're allowed more as a health student, why didn't I get it? I don't look needy on paper (parents...) but when you fill out FAFSA as a grad student you are automatically considered independent.

If you're talking about vet school you're eligible for 40500 in direct unsubsidized plus however much you need in grad plus to cover the rest of cost of attendance

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[kernel]

If you're talking about vet school you're eligible for 40500 in direct unsubsidized plus however much you need in grad plus to cover the rest of cost of attendance

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I smell something funky... Do most schools include the "estimated family contribution" for grad/professional programs in the award letters? I know this is standard for undergraduate/dependent loans. The number on mine is really high (and inaccurate) 😡

 

[wildcatj]

I smell something funky... Do most schools include the "estimated family contribution" for grad/professional programs in the award letters? I know this is standard for undergraduate/dependent loans. The number on mine is really high (and inaccurate) 😡

I have no idea on that. I didn't think so because of being a professional student. I won't get my fin aid stuff for a while yet.

 

[BlackDog17]

I smell something funky... Do most schools include the "estimated family contribution" for grad/professional programs in the award letters? I know this is standard for undergraduate/dependent loans. The number on mine is really high (and inaccurate) 😡

For grad/professional school, your parents income should not affect the amount of financial aid you receive.

 

[kernel]

I have no idea on that. I didn't think so because of being a professional student. I won't get my fin aid stuff for a while yet.

For grad/professional school, your parents income should not affect the amount of financial aid you receive.

I have not found anything that indicates that grad/professional students are eligible to receive more than the $20,500 ford direct unsubsidized limit.

My mom just happened to give me a ring this afternoon and we discussed the possibility of private loans for living expenses. Wow, does she know her stuff. It looks like I could get some loan packages with surprisingly good interest rates through our bank. She seems willing to help me go that route...Awesome mom is awesome.

Anyway, I guess getting more money from the government won't be an issue, but I'm still confused as to how this works. What do people with similar financial situations to mine who are paying OOS or even medical school tuition do? $20,500 per year doesn't even put a dent in it...

 

[kakurubird]

My mom just happened to give me a ring this afternoon and we discussed the possibility of private loans for living expenses. Wow, does she know her stuff. It looks like I could get some loan packages with surprisingly good interest rates through our bank. She seems willing to help me go that route...Awesome mom is awesome.

I have nothing to add about financial aid, but finally decided by this you mean that she called you on the phone? I was picturing your mother giving you a box with some jewelry and thought that a loan discussion was interesting after that kind of a gift....

 

[Kpowell14]

I have nothing to add about financial aid, but finally decided by this you mean that she called you on the phone? I was picturing your mother giving you a box with some jewelry and thought that a loan discussion was interesting after that kind of a gift....

I initially had the same thought lol

 

[wildcatj]

I have not found anything that indicates that grad/professional students are eligible to receive more than the $20,500 ford direct unsubsidized limit.

My mom just happened to give me a ring this afternoon and we discussed the possibility of private loans for living expenses. Wow, does she know her stuff. It looks like I could get some loan packages with surprisingly good interest rates through our bank. She seems willing to help me go that route...Awesome mom is awesome.

Anyway, I guess getting more money from the government won't be an issue, but I'm still confused as to how this works. What do people with similar financial situations to mine who are paying OOS or even medical school tuition do? $20,500 per year doesn't even put a dent in it...

I am 100% positive that there is an exception for health professionals that will allow you to get loans to cover all cost of attendance. let me see if I can find a link...

Edit: here's a link for Stafford loan info: http://www.finaid.org/loans/studentloan.phtml
The rest of cost of attendance not covered by the 40.5k will be covered by grad plus loans.

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[Kpowell14]

Wildcat & Kakuru- any idea as to when We get our Fin. Aid package from Mizzou? I know the scholarship app. Deadline isn't until sometime in may, but that's all I know.. ( already sent that thing in so I didn't forget about it lol)

 

[kernel]

I have nothing to add about financial aid, but finally decided by this you mean that she called you on the phone? I was picturing your mother giving you a box with some jewelry and thought that a loan discussion was interesting after that kind of a gift....

I initially had the same thought lol

Ahahahaha at the time I didn't even think twice about using that expression. I guess you don't really see it written, it's more of an oral expression--and probably for this reason exactly. Lol

 

[DVMDream]

I initially had the same thought lol

I thought the same thing too... then figured, well maybe the ring is worth a lot of money and will provide for vet school...

 

[wildcatj]

Not sure, was going to ask on the Facebook page. I can't imagine before June since they have to figure out scholarships.

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[Rainheart]

Wildcat & Kakuru- any idea as to when We get our Fin. Aid package from Mizzou? I know the scholarship app. Deadline isn't until sometime in may, but that's all I know.. ( already sent that thing in so I didn't forget about it lol)

I'm wondering the same thing...

 

[felinelvr44]

I have not found anything that indicates that grad/professional students are eligible to receive more than the $20,500 ford direct unsubsidized limit.

My mom just happened to give me a ring this afternoon and we discussed the possibility of private loans for living expenses. Wow, does she know her stuff. It looks like I could get some loan packages with surprisingly good interest rates through our bank. She seems willing to help me go that route...Awesome mom is awesome.

Anyway, I guess getting more money from the government won't be an issue, but I'm still confused as to how this works. What do people with similar financial situations to mine who are paying OOS or even medical school tuition do? $20,500 per year doesn't even put a dent in it...

As someone who is currently paying private student loans... don't do it. I'm sure it sounds great now (it did to us) but it's not when you have to pay them back and they get sold to some jerk-y faceless company. They aren't eligible for IBR so if you can't find a job you're screwed. They will not work with you at all in terms of repayment... ugh. Just please don't make the same mistake we did. Ask your financial aid office about the direct loan limits and the Plus loan. I'm sure there is more federal money for you to cover the entire cost of attendance...

 

[that redhead]

Grad PLUS loans can cover the extra you need.

 

[felinelvr44]

Grad PLUS loans can cover the extra you need.

can you take out a grad plus loan to cover the entire COA, basically ignoring your EFC? I think that's Kernel's problem. It sounds like OSU is saying that her parents should contribute $X and that she is therefore eligible for COA - $X. I never understood the EFC honestly... in undergrad it was always like "oh, how nice, they think my parents are able to/are going to give me $Y." And my parents never did.

 

[wildcatj]

can you take out a grad plus loan to cover the entire COA, basically ignoring your EFC? I never understood the EFC honestly... in undergrad it was also like "oh, how nice, they think my parents are able to/are going to give me $X." And my parents never did.

It's my understanding that EFC means diddly squat for vet school. So yes.

 

[randombird]

Last night I crunched the numbers for Auburn and Ohio State (the two schools I have left to pick between)..... I calculated the total tuition, living expenses, and interest accrued over the four years, while including the tuition inflation and the cost of living average inflation. Needless to say, I didn't fall asleep until 4 am because I was so nervous... The numbers weren't pretty.... Most days I CANNOT wait to start in the fall, but other days I really worry about what I am getting myself into. It is those random days where I question myself that is scaring me.... Is anyone else having similiar feelings?

Oddly enough, I'm really looking forward to this summer where I can goof off, and sort of trying not to imagine starting in the fall because I know it will be difficult in all sorts of ways. One of my friends who's a third year now almost withdrew her first year, and she's in the honor's society now. But then, I get so excited when I realize I'll be given actual instruction in all my unanswered questions! But then I remember I'll be tested on it and get nervous... it's kind of a roller coaster!

 

[BladeofGrass]

I noticed the topic got directed toward loans, and I discovered an article a few days ago that Sallie Mae reduced their grad loans interest rate: http://www.usnewsuniversitydirector...on-graduat_13006.aspx#.UVNGrVeS8kI?mcid=53052

It looks like it would be better than a Grad PLUS loan in terms of interest rates, although the terms of the loan are likely different than the federal ones. I've also looked in to private loans, but those seem risky for a few different reasons. Maybe this Sallie Mae one is a good compromise for those needing extra funds above the allotted 40,500?

 

[Suomi]

I smell something funky... Do most schools include the "estimated family contribution" for grad/professional programs in the award letters? I know this is standard for undergraduate/dependent loans. The number on mine is really high (and inaccurate) 😡

I got my award letter as well for Oregon State with the same amount offered as you. However, when I filed my FAFSA I did not realize that to be considered for the 40,500 for health profession students, you have to include your parent's tax information. Without it, you only get the direct loan offered to you. Update your FAFSA with your parent's information so you're eligible for that 40,500 and then call OSU's financial aid office to let them know and see if they can adjust your award letter with the new information. That's what I'm going through right now unfortunately 🙂. After that, get Grad Plus loans (max 12,500/year) to cover the cost rather than Private if I were you. Private loans are tricky. The Grad Plus is dependent on a credit check though, as a heads up. Your direct loan, health loan, and grad plus should cover all you need!

 

[wildcatj]

I got my award letter as well for Oregon State with the same amount offered as you. However, when I filed my FAFSA I did not realize that to be considered for the 40,500 for health profession students, you have to include your parent's tax information. Without it, you only get the direct loan offered to you. Update your FAFSA with your parent's information so you're eligible for that 40,500 and then call OSU's financial aid office to let them know and see if they can adjust your award letter with the new information. That's what I'm going through right now unfortunately 🙂. After that, get Grad Plus loans (max 12,500/year) to cover the cost rather than Private if I were you. Private loans are tricky. The Grad Plus is dependent on a credit check though, as a heads up. Your direct loan, health loan, and grad plus should cover all you need!

The 40.5k is from Stafford loans, not health professions. you should be eligible for 40.5 in Stafford plus whatever you need to cover the rest of cost if attendance from grad plus. Most people don't get the health professions loans, they are an added bonus that will be taken out of what you need for in grad plus because the interest rate is lower. You should both call the school because you should be eligible for more.

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[kakurubird]

So I'm having a little bit of freaking out about basically "this is what I'll do the rest of my life." It's in kind of a crazy, over-the-top way, but it's still there. Like today, I read a news story about the dealer training for the new casino opening this week in MD and was thinking, "I should have done that. I could be a craps dealer and move from casino to casino." And this is crazy talk because I don't actually want to deal craps or work in a casino ever, but the idea is there.

Anyone else? Or someone want to talk the bit of crazy out of me?

 

[HorsesRLife]

So I'm having a little bit of freaking out about basically "this is what I'll do the rest of my life." It's in kind of a crazy, over-the-top way, but it's still there. Like today, I read a news story about the dealer training for the new casino opening this week in MD and was thinking, "I should have done that. I could be a craps dealer and move from casino to casino." And this is crazy talk because I don't actually want to deal craps or work in a casino ever, but the idea is there.

Anyone else? Or someone want to talk the bit of crazy out of me?

Oh geez I'm gald I'm not the only one. I have a had different job for every year since I graduated undergrad (3 to be exact) and as a vet tech it has been the closest thing to what I feel like I could do for the rest of my life. No job or amount of school is a death sentence for your career choices and vet med allows you to do so much so don't let it feel like you are limiting yourself by getting a DVM.

 

[equineconstant]

I can't see any welcome packet documents and I haven't gotten any emails from LSU since they got my acceptance form...but I know they got it because the box is checked on my status...I'm kind of freaking out a little bit because I know people have got things like that already.

 

[orca2011]

can you take out a grad plus loan to cover the entire COA, basically ignoring your EFC? I think that's Kernel's problem. It sounds like OSU is saying that her parents should contribute $X and that she is therefore eligible for COA - $X. I never understood the EFC honestly... in undergrad it was always like "oh, how nice, they think my parents are able to/are going to give me $Y." And my parents never did.

You can take out up to your COA. My statement said that my parents should have been contributing like 15k, which they're not, but I was still able to take out as much GradPlus as needed to meet that amount. Actually took out too much this year, so I'll probably take out less next year.

 

[felinelvr44]

You can take out up to your COA. My statement said that my parents should have been contributing like 15k, which they're not, but I was still able to take out as much GradPlus as needed to meat that amount. Actually took out too much this year, so I'll probably take out less next year.

Thanks for the info! 🙂

 

[kernel]

can you take out a grad plus loan to cover the entire COA, basically ignoring your EFC? I think that's Kernel's problem. It sounds like OSU is saying that her parents should contribute $X and that she is therefore eligible for COA - $X. I never understood the EFC honestly... in undergrad it was always like "oh, how nice, they think my parents are able to/are going to give me $Y." And my parents never did.

You can take out up to your COA. My statement said that my parents should have been contributing like 15k, which they're not, but I was still able to take out as much GradPlus as needed to meet that amount. Actually took out too much this year, so I'll probably take out less next year.

Thanks for the info. I need to look into GradPlus, and perhaps have a more detailed chat with my family about those private loans. I don't know, felinelvr, but it seems as though we've got some good incentives. Still, I don't see this as my mom throwing me off in the deep end--she probably has strong reasons for considering this. I'm not privy to the complexities of our family's financial situation (I don't mind--it's complicated), but I certainly trust in my parents' decisions.

 

[macita183]

So I don't want to bug the admissions office (since I'm sure they are inundated at this time of the year) but how long does it typically take for the online portal to get updated to "Admission Accepted" (this is for Illinois)?. I sent my deposit and paperwork in early last week and there has been no change to my portal status. I'm just worried it got lost or something. I live in Wisconsin so they should have gotten it a day after I mailed it.

 

[adams30]

So I don't want to bug the admissions office (since I'm sure they are inundated at this time of the year) but how long does it typically take for the online portal to get updated to "Admission Accepted" (this is for Illinois)?. I sent my deposit and paperwork in early last week and there has been no change to my portal status. I'm just worried it got lost or something. I live in Wisconsin so they should have gotten it a day after I mailed it.

I think it took mine about a week to get updated then again I live down the street from the vet school.

I understand that you don't want to bug them but I think you should call just to double check that they have received it. Better safe than sorry.

 

[trackgirl12]

So I don't want to bug the admissions office (since I'm sure they are inundated at this time of the year) but how long does it typically take for the online portal to get updated to "Admission Accepted" (this is for Illinois)?. I sent my deposit and paperwork in early last week and there has been no change to my portal status. I'm just worried it got lost or something. I live in Wisconsin so they should have gotten it a day after I mailed it.

I sent my deposit in from New Jersey last Monday and my portal was updated yesterday. Since you're so much closer, it would probably be a good idea to give them a call soon.

 

[equineconstant]

I had to call to get my online status changed (even though it did show that they received my form already) but it's updated now. I'm official!

 

[BlackDog17]

So I don't want to bug the admissions office (since I'm sure they are inundated at this time of the year) but how long does it typically take for the online portal to get updated to "Admission Accepted" (this is for Illinois)?. I sent my deposit and paperwork in early last week and there has been no change to my portal status. I'm just worried it got lost or something. I live in Wisconsin so they should have gotten it a day after I mailed it.

I agree with what others have said - it's definitely worthwhile to call and check on your deposit! When I sent my deposit to AVC it never got credited to my account. Fortunately I decided to call and check on it just to be sure! It took me a week and a half of bugging the accounting office before they finally fixed it. So I would definitely advise calling them soon. That way if there is a problem, you'll have time to get it fixed before the deadline!

 

[Abnerrs]

Bump

 

[equineconstant]

I'm talking with a potential roommate for next year and it occurs to me that I have no idea what I'm doing when looking for housing that doesn't involve fighting the res life system.

 

[Kpowell14]

I'm working too much 🙁 my whole body is sore 🙁

 

[wldlfstdnt]

I get to post in here!!! I am so excited!

 

[Abnerrs]

I get to post in here!!! I am so excited!

I was totally going to say get your butt in here!

 

[wldlfstdnt]

I was totally going to say get your butt in here!

I must have read your mind!

 

[equineconstant]

I get to post in here!!! I am so excited!

Yaaaay wld!

 

[Kpowell14]

Congrats wld!!

Headed to Mizzou , about an hour away! Open house is tomorrow and I'm signing a lease on a place to live!!

 

[tropictuco]

Congrats wld!

Me too Kpowell! Well, open house for Auburn. I just drove in today. There's an ice cream social tonight then tomorrow it's an info session and a rush to find housing. So excited!

 

[catlady816]

You can take out up to your COA. My statement said that my parents should have been contributing like 15k, which they're not, but I was still able to take out as much GradPlus as needed to meet that amount. Actually took out too much this year, so I'll probably take out less next year.

I'm in the process of figuring out how much to take out for Penn and I'm curious as to how much I should allot for books. Most students said you only really need the anatomy book for lab but some buy histology to help with lab too. Am I looking at your typical $300+ textbooks or is it more 50 dollar lab books made just for the program? I'm hoping to take out as little as possible in loans. Major penny pinching going on here haha.

 

[bunnity]

The histo book is Bacha and Bacha "the purple book". You'd be fine with an out of date edition. Or really any vet histo book you can get your hands on.

 

[mnkyrat]

I'm in the process of figuring out how much to take out for Penn and I'm curious as to how much I should allot for books. Most students said you only really need the anatomy book for lab but some buy histology to help with lab too. Am I looking at your typical $300+ textbooks or is it more 50 dollar lab books made just for the program? I'm hoping to take out as little as possible in loans. Major penny pinching going on here haha.

Did Penn send out financial packages?

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[catlady816]

Did Penn send out financial packages?

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Not yet, I think they said June/July they'll let you know what your eligibility is for perkins health care loans. I'll probably be taking out a gradplus which if I'm not mistaken, you can take out whenever. I just have anxiety about all my loans so I'm trying to figure stuff out early so I can rest easy.

And thanks for the info bunnity!

 

[mnkyrat]

Not yet, I think they said June/July they'll let you know what your eligibility is for perkins health care loans. I'll probably be taking out a gradplus which if I'm not mistaken, you can take out whenever. I just have anxiety about all my loans so I'm trying to figure stuff out early so I can rest easy.

And thanks for the info bunnity!

me too! I keep doing budgets but I am a little freaked out about what I can actually take out. My mother is disabled and retired so I have to be able to care for her a bit too. Although, these threads have made me feel better. Sounds like I will get what I need! Good luck fellow Pennwe 😀

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[bunnity]

Not yet, I think they said June/July they'll let you know what your eligibility is for perkins health care loans. I'll probably be taking out a gradplus which if I'm not mistaken, you can take out whenever. I just have anxiety about all my loans so I'm trying to figure stuff out early so I can rest easy.

And thanks for the info bunnity!

no prob bob... I don't read this thread much but if ya'll have questions feel free to PM me or post on the Penn thread.