Fin Aid

[PodHopeful]

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Anyone going to KSUCPM in the fall hear about financial aid yet?

 

[Da Ghost]

I haven't heard anything back from my school Temple, so it's good to hear we're not the only ones

 

[PodHopeful]

Yea, I'm getting a little nervous. I don't want something happening like - not enough funding. Not even sure if that's a possibility. Anyone know more?

 

[Robert De Niro]

Yea, I'm getting a little nervous. I don't want something happening like - not enough funding. Not even sure if that's a possibility. Anyone know more?

Talked to the Kent a few days ago. They told me they are in the process of awarding everyone who has submitted their FAFSA and will send them out in about a week or two. They will be also sending out our school emails and usernames so we can log into their site and accept our financial aid packages online. Hope this helps.

 

[PodHopeful]

Thank you for that info! See you in the fall!

Another thing I was wondering about was - if we don't get enough financial aid to meet the cost of attendance, what happens after that?

 

[dchunts22]

I think you should get enough to cover the cost of attendance and if not then you'll have to apply for the grad plus loan and take out whatever you need extra. Unless you have an adverse credit history, you shouldn't have any issues getting one. That is what I have been told at least. Hope that helps!

 

[Robert De Niro]

Dchunts is right. Grad plus is there to meet your financial needs. Once you receive your award package in the mail, you can apply for a grad plus online.

 

[wakaflocka88]

If you need extra money for living/personal expenses on top of tuition, I suggest looking outside for private loans such as from banks. I went through Wells Fargo and was approved for a loan with a much lower interest rate than the Direct Grad Loan. A little more work, but the lower interest rate was what I wanted.

 

[dchunts22]

I agree that is definitely a better option because of the interest rate. You mostly likely will need a cosigner for private loans unless you have a good income to qualify for the loan. If you don't have either of those then grad plus is an option but does have a higher interest rate unfortunately.

 

[wakaflocka88]

I agree that is definitely a better option because of the interest rate. You mostly likely will need a cosigner for private loans unless you have a good income to qualify for the loan. If you don't have either of those then grad plus is an option but does have a higher interest rate unfortunately.

No, I did not need a co-signer. I have a strong credit history/score and been with Wells Fargo for a while, so I was approved for whatever amount I needed quikcly. Its a loan program called MedCap if you are interested, these loans are geared towards healthcare students.

 

[dchunts22]

good to know! I'll look into that. Thanks!

 

[jonod1107]

One thing to think about though is that bank loans might be variable rate, meaning it may jump up to a really high % interest in the future. Keep in mind that the loan probably won't be paid off for 10-15+ years so if it jumps up to a higher % than the Federal loans, that wouldn't be good.

Example: Loan % is 4 % for 3 years and then it can be varies from month to month from 2%-15%.

 

[wakaflocka88]

One thing to think about though is that bank loans might be variable rate, meaning it may jump up to a really high % interest in the future. Keep in mind that the loan probably won't be paid off for 10-15+ years so if it jumps up to a higher % than the Federal loans, that wouldn't be good.

Example: Loan % is 4 % for 3 years and then it can be varies from month to month from 2%-15%.

That is true, but the MedCap loan gave me the choice of a fixed rate or a variable rate. If variable, then yes it will fluctuate as you stated. However, the fixed rate was still lower than the interest rate of the Direct Grad Plus loan. I would definitely choose a fixed rate over the variable, given the uncertainty of the market in the future.