Financial aid package

[Prolab007]

For those already in pharm. school,

By when should I be expecting my financial aid package? (UOP and UCSF) I am thinking mind as well see which school offers me more $$$ before I make a final decision....

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[EarlyEditionDude]

You should get your FA package for Pacific some time in early to mid May. I think that UCSF will offer you more FA, with a better deal considering the insane cost for Pacific.

 

[jdpharmd?]

For those already in pharm. school,

By when should I be expecting my financial aid package? (UOP and UCSF) I am thinking mind as well see which school offers me more $$$ before I make a final decision....

There is no way that you should pick a school based on the financial aid (unless someone is offering a scholarship). They are all just loans. Most schools are going to have comparable budgets, and you'll be able to live off of either one. There are private lenders if you need more $.

 

[EarlyEditionDude]

I received my FA package from Pacific today and it is sad, VERY very sad.

It looks like I will need an additional 30K in private loans.

 

[Prolab007]

Earlyedition,

was the financial aid from UOP all loans? damn...

 

[Cdiddy]

WOW. How how much is tuition at Pacific. I thought we can borrow up to 38k in sub/nonsub loans.

Chris

 

[jdpharmd?]

WOW. How how much is tuition at Pacific. I thought we can borrow up to 38k in sub/nonsub loans.

Chris

Tuition is over 36k.

 

[28657]

I received my FA package from Pacific today and it is sad, VERY very sad.

It looks like I will need an additional 30K in private loans.

It's safe to assume that most students attending private universities (maybe even public schools too?) will have to get private loans. I know Midwestern limits Stafford loan amounts to $35k a year, and I think they estimate the average total cost of attendance to be around $48k. So a lot of students who don't live with their parents (or who don't get allowance from their parents) have to get that extra $13k in private loans to make ends meet.

I know it SUCKS to think about that much debt, but it's definitely worth it!

 

[EarlyEditionDude]

Yep, Prolab, it was ALL LOANS!!!!!!!!!

 

[28657]

Earlyedition,

was the financial aid from UOP all loans? damn...

Are you asking "All loans as opposed to grants"? I don't think it's possible to qualify for grants for pharmacy school.

 

[Dloi]

hey earlyedition
i received my financial aid packet from uop too....they gave me $34,000 in loans...but since i have to live there, i need about another $20,000 or so from a private lender...so sad, so sad

 

[EarlyEditionDude]

hey earlyedition
i received my financial aid packet from uop too....they gave me $34,000 in loans...but since i have to live there, i need about another $20,000 or so from a private lender...so sad, so sad

I got the same amount, so....

54K for EVERYTHING
-34K Federal Loans

We'll need only 20K more. I am going to try to ask more from private lenders to pay off those pesky credit card bills.

 

[Prolab007]

yup i just got mine today. Got 34k also.

 

[sunkiki486]

I have a question about financial aid packages and was wondering if anybody can give me an insight as to what I should do...

Creighton University sent me my financial aid package last week and told me to reply by May 5. They're giving me 40K in loans (which is the exact amount that they expect me to spend for tuition/housing/books). On the bottom of the financial aid offer, there is a "accept" or "decline" box and a place for my signature. My question is, is it okay to accept the offer even if I might not end up going to Creighton? I'm still waiting to hear back from two schools (one I called yesterday and they said the earliest I'll hear back is in a week) and if I get into my first choice then obviously I'm giving up my spot in Creighton.

Is there some type of "contract" once I accept the offer?? I'm guessing there has to be a way out...

Thanks in advance

 

[imperial frog]

My financial aid is my wife. She gave me $20 today, but I had to buy dinner with it so that left $5.

 

[oc2004]

When you mentioned Federal Loans, are you talking about subsidized loans or unsubsidized loans in the financial aid package? Thanks

 

[bananaface]

My financial aid is my wife. She gave me $20 today, but I had to buy dinner with it so that left $5.

I think my husband is going to be my financial aid this year, as well. I recieved just enough to cover tuition, with about $100 extra per quarter. The funny thing is my tuition is only 10.5K per year. But, I still have to make my mortgage payment and all those other living expenses.

How did tuition elsewhere get so costly? I know here out of state tuition is about 21K. And, you can get residency in 1 year. The disparity in tuition is pretty ghastly. It's not as if UW is running the program out of a shack or anything.

Anna

 

[jdpharmd?]

How did tuition elsewhere get so costly? I know here out of state tuition is about 21K. And, you can get residency in 1 year. The disparity in tuition is pretty ghastly. It's not as if UW is running the program out of a shack or anything.

Out of state tuituion is frequently twice the rate of in-state tuition. I have never heard of a school offering in-state rates to an out of state student after one year. The schools have always told me that I would have to live in their state for at least one year WITHOUT going to school. For instance, if I took a year off and worked in some state for a year and paid taxes there(without going to school), I could apply for the NEXT year as in-state.

Private school tuition is expensive. Most private pharmacy schools are 20-36k/year. I think the range of pharmacy school costs is currently something like 8k-37k/year.

 

[bananaface]

In WA I believe you can be considered a resident if you reside in the state consecutively for 1 year, regardless of taxes. I know alot of undergrads who made in-state tuition their second year of school. There is some wierd deal at UW where professional students who can demonstrate that they are here for something other than school, regardless of whether they flew "home" for a visit, can get their out of state status waived. Word in the student lounge is that anything as simple as I have a boyfriend/girlfriend here will fly with the dean. They say almost nobody pays out of state tuition here after the first year.

I know private school is more. But 34k is crazy. And aren't the CA state schools ridiculously expensive too? That is what I'm supposed to pay when my KIDS (not concieved yet) go to college.

Anna

 

[jemc2000]

I'm considering applying to Creighton for the fall, but the cost is scaring me. Since my credit won't give me any private loans, I need to figure out how much Stafford and FAFSA will give me. Their tuition for the online program appears to be about $10K per semester, plus plane fare and 2-3 weeks room and board every summer. Does anyone have any other info on this stuff? Or a different link that my search didn't turn up?

Thanks.

 

[endlesslove]

I got the same amount, so....

54K for EVERYTHING
-34K Federal Loans

We'll need only 20K more. I am going to try to ask more from private lenders to pay off those pesky credit card bills.

to EarlyEditionDude and I guess any pharm students out there, what was your guys' EFC (Expected Family Contribution), if I may ask? Whether your EFC is ZERO or $20,000, do you still get all loans or do you get less loans (more grants/scholarships) if your EFC is lower?

 

[WVUPharm2007]

to EarlyEditionDude and I guess any pharm students out there, what was your guys' EFC (Expected Family Contribution), if I may ask? Whether your EFC is ZERO or $20,000, do you still get all loans or do you get less loans (more grants/scholarships) if your EFC is lower?

Well, that depends on the loan. A lot of grants and loans with defered interest are for low EFC students. For example, I have a EFC of zero, a total family income of $0 (my dad hasn't had a job for a year, he divorced his second wife recently, not that she had a job either, and I have no legal relation to my mother,) and a personal income of about $3000 last year. I get a Pell Grant for $1500 a semester, a need-based school scholarship at $1250/semester, a Federal Subsidized Loan for $1724/semester after the fees they have for taking it, and a $1750/semester Perkins loan. I also have a work study allowance of $900/semester. My tuition is about $6000/semester as undergrad. I'm on the low end of what I should be receiving because I filed my FAFSA a few days after the priority deadline. Also, due to the divorce and my dad's ex-wife pending tax evasion/tax fraud charges (The witch is gonna go to jail! Hooray!) he still hasn't filed taxes for 2003 so his information was incomplete. I'm supposedly approved for something like $12,000 in PLUS loans, but I know my dad wouldn't get approved by any creditor.

My friends that aren't poor don't get things like the Pell Grant and have unsubsidized federal loans... but I'd like to hear what anyone else willing to share gets. I should note I'm out of state, so that affects how much I get from the college. If I was in-state, I would be a PROMISE scholar and 70% of my tuition would be covered... *grumble*

I usually don't cover tuition fully, but thankfully my grandmother, who is a saint, has been saving for my college education since she found out my mother was pregnant. She's the whole reason that I'm able to make up the difference, since my father's low credit and my lack of credit have made private loans impossible (though I think once I'm enrolled in professional school, that will change.) I would like to publically recant any statement I made before the age of 16 proclaiming that I wish I got presents from my grandmother instead of college money.

*note: This is WVURxGal, not WVURxMan. I'm too lazy to sign out of my boyfriend's user name.*

 

[endlesslove]

Well, that depends on the loan. A lot of grants and loans with defered interest are for low EFC students. For example, I have a EFC of zero, a total family income of $0 (my dad hasn't had a job for a year, he divorced his second wife recently, not that she had a job either, and I have no legal relation to my mother,) and a personal income of about $3000 last year. I get a Pell Grant for $1500 a semester, a need-based school scholarship at $1250/semester, a Federal Subsidized Loan for $1724/semester after the fees they have for taking it, and a $1750/semester Perkins loan. I also have a work study allowance of $900/semester. My tuition is about $6000/semester as undergrad. I'm on the low end of what I should be receiving because I filed my FAFSA a few days after the priority deadline. Also, due to the divorce and my dad's ex-wife pending tax evasion/tax fraud charges (The witch is gonna go to jail! Hooray!) he still hasn't filed taxes for 2003 so his information was incomplete. I'm supposedly approved for something like $12,000 in PLUS loans, but I know my dad wouldn't get approved by any creditor.

My friends that aren't poor don't get things like the Pell Grant and have unsubsidized federal loans... but I'd like to hear what anyone else willing to share gets. I should note I'm out of state, so that affects how much I get from the college. If I was in-state, I would be a PROMISE scholar and 70% of my tuition would be covered... *grumble*

I usually don't cover tuition fully, but thankfully my grandmother, who is a saint, has been saving for my college education since she found out my mother was pregnant. She's the whole reason that I'm able to make up the difference, since my father's low credit and my lack of credit have made private loans impossible (though I think once I'm enrolled in professional school, that will change.) I would like to publically recant any statement I made before the age of 16 proclaiming that I wish I got presents from my grandmother instead of college money.

*note: This is WVURxGal, not WVURxMan. I'm too lazy to sign out of my boyfriend's user name.*

Thanks for the info but that pertains mainly to the UNDERGRAD financial aid package right? I was actually asking about financial aid packages (i.e. scholarships, grants, loans) for students at the PROFESSIONAL/GRADUATE level and how EFC affects it. If you're doing one of those pharm programs where you come straight out of hs, your financial aid package will change once you become a "professional" student (I know b/c I asked about it when I was accepted to UOP and USC 5 and 8, respectively, year programs from hs).

 

[dgroulx]

Here's what's displayed on ISIS at UF for me:

Cost of Attendance from 08/23/2004 to 05/02/2005: 19846.00
Expected Parental Contribution: 0.00
Expected Student/Spouse Contribution: 15060.00
Equals your gross financial need: 4786.00

FEDERAL DIRECT UNSUB LOAN
Awarded
Fall 9782.00
Spring 9782.00
Summer-A 0.00
Summer-B 0.00
Total 19564.00

After tuition is taken out, I'm left with about $6,000 each semester for living expenses.

 

[WVURxGal]

Thanks for the info but that pertains mainly to the UNDERGRAD financial aid package right? I was actually asking about financial aid packages (i.e. scholarships, grants, loans) for students at the PROFESSIONAL/GRADUATE level and how EFC affects it. If you're doing one of those pharm programs where you come straight out of hs, your financial aid package will change once you become a "professional" student (I know b/c I asked about it when I was accepted to UOP and USC 5 and 8, respectively, year programs from hs).

I guess it must be different everywhere else, but here, a first year PharmD student is a undergrad junior, second year undergrad senior, third year is first year graduate-level, etc. The types of aid you can get are still the same, except for the possibility of additional money (if grades are kept up, I believe the Health Sciences Center has their own grant.) When I start pharmacy school, at least for the first two years, I'll be processed as an undergraduate on my FAFSA. Federal loans will be the same, but school ones may change. Maybe that rule varies by state.

 

[endlesslove]

I guess it must be different everywhere else, but here, a first year PharmD student is a undergrad junior, second year undergrad senior, third year is first year graduate-level, etc. The types of aid you can get are still the same, except for the possibility of additional money (if grades are kept up, I believe the Health Sciences Center has their own grant.) When I start pharmacy school, at least for the first two years, I'll be processed as an undergraduate on my FAFSA. Federal loans will be the same, but school ones may change. Maybe that rule varies by state.

interesting...yeah, must be diff. thanks for the info. can CA residents attending CA pharmacy schools please shed some light on their financial aid package/EFC? I'd just like to get a heads up on what to expect! thanks!

 

[Glycerin]

interesting...yeah, must be diff.

It's usually that way with state/public schools.

 

[endlesslove]

It's usually that way with state/public schools.

Hmm, it's not like that in CA b/c once u matriculate into P1, you are no longer an undergrad. The 1 minor exception is for those who opted not to earn a bachelors and go straight to pharm school...but then with the competition of pharm schools in CA, a bachelors is highly favorable, so most ppl already have one and are therefore graduate students, not undergrads. Once you're a grad student, u don't get a lot of the same stuff as undergrads, like CalGrants and Pell Grants and other nice loans that are reserved for undergrads.

With that sad, I was wondering for those whose EFCs are 0 and got a lot of the nice stuff in undergrad, do they still try to give you a few extra scholarships compared to those whose EFCs are like $40,000 or do you basically get a buncha loans like everybody with high EFCs? Thanks!

 

[WVURxGal]

Hmm, it's not like that in CA b/c once u matriculate into P1, you are no longer an undergrad. The 1 minor exception is for those who opted not to earn a bachelors and go straight to pharm school...but then with the competition of pharm schools in CA, a bachelors is highly favorable, so most ppl already have one and are therefore graduate students, not undergrads.

Aah, well, that's probably where our difference is, not just in the state! I believe a large majority of people at WVUSoP don't hold bachelors degrees, and the most important factor is pre-req GPA, so higher level classes wouldn't even help. Just talking credit hours, I'll be a second-semester junior when I start pharmacy school. My boyfriend says most people are 21-22, so that sounds like mostly juniors. Either way... hooray for two more years of the Pell Grant!