MPH FAFSA

[sohel.dmc63]

I am planning to go for the Johns Hopkins MPH. It will cost me about 80,000 (62,000 tution fee + 18,000). I don't have much idea about FAFSA, since it is my first time dealing with it. My plan is to pay all of the expense with FAFSA loan. Is it possible to get this high amount of loan from FAFSA in a year (Including Grad PLUS)?
If not, then how do people usually manage this high tution fee?

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[Pudu2009]

FAFSA provides $20,500 per year in Stafford loans, and the rest can be paid for with GradPlus loans, private loans, and/or out of pocket. Stafford loans have a low interest rate while GradPlus loans have a high interest rate, and both can be applied for via FAFSA. Private loans have varying interest rates depending on company and your credit score. The higher your credit score, the lower your interest. For some people, it is cheaper to take out private loans than GradPlus, so check what's out there. Discover seems to be pretty good, and Wells Fargo keeps e-mailing me with a pretty good interest rate for their student loan. Also, look into credit cards that reward you for being a good student; it's a little off topic, but they can help you save money.

 

[sohel.dmc63]

FAFSA provides $20,500 per year in Stafford loans, and the rest can be paid for with GradPlus loans, private loans, and/or out of pocket. Stafford loans have a low interest rate while GradPlus loans have a high interest rate, and both can be applied for via FAFSA. Private loans have varying interest rates depending on company and your credit score. The higher your credit score, the lower your interest. For some people, it is cheaper to take out private loans than GradPlus, so check what's out there. Discover seems to be pretty good, and Wells Fargo keeps e-mailing me with a pretty good interest rate for their student loan. Also, look into credit cards that reward you for being a good student; it's a little off topic, but they can help you save money.

Thank you Pudu2009 for your long reply.
Is it possible to get rest of the loan only by the Grad PLUS? Theoritically they say that Grad PLUS fills the gap between stafford loan and COA. Actually I don't want to go for private loan. I don't have any external source to fund my degree. My EFC is also 0. Can I get all the loans from FAFSA only (Stafford + Grad PLUS)?

 

[Pudu2009]

Thank you Pudu2009 for your long reply.
Is it possible to get rest of the loan only by the Grad PLUS? Theoritically they say that Grad PLUS fills the gap between stafford loan and COA. Actually I don't want to go for private loan. I don't have any external source to fund my degree. My EFC is also 0. Can I get all the loans from FAFSA only (Stafford + Grad PLUS)?

Yes it's possible (and I think the most common option). I think you have to do special GradPlus loan counseling to get one though. Also start looking for part-time work in Baltimore so that can start earning as soon as you get there. That will help with your living expenses and maybe loan interest.

 

[sohel.dmc63]

Yes it's possible (and I think the most common option). I think you have to do special GradPlus loan counseling to get one though. Also start looking for part-time work in Baltimore so that can start earning as soon as you get there. That will help with your living expenses and maybe loan interest.

Thanks a lot Pudu2009. You are really such a nice and helpful person.