Financial Aid question!!

[especial]

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Hi all!

I just had a question about what to do after acceptance.
I'm now choosing between two dental schools, NYU and Case Western.
Although I'm from one of the Southern states, I currently am studying in NYC.
I definitely have to consider cost, which I believe NYU is a lot more than Case Western.
But, after acceptance, how am I supposed to know how much financial aid I'm going to receive from those schools that I got into?
I know we have to complete FAFSA in the late winter, but I have to put in my first deposit around then too.
Is there anyway I can know my financial aid packages from the schools I got into
so that I can consider those when I choose a school?

Thank you lots,
and good good luck with your cycles!

 

[DentalFox]

The max you can get is about 46K. After that you need to look at other options like a loan plus or a private loan. If your parents are willing to cosign, then the loan may be large enough to cover all expenses.

 

[free99]

The max you can get is about 46K. After that you need to look at other options like a loan plus or a private loan. If your parents are willing to cosign, then the loan may be large enough to cover all expenses.

You can get govt loans to cover the total cost of attendance as designated by the school. $40,500 was the maximum this year for direct unsubsidized loans, and you may borrow the remainder as grad plus loans (slightly higher interest rate). You have to qualify for grad plus, so folks with poor credit may have an issue and may need a cosigner. I would be hesitant to take out private loans, but some people do, as those will be ineligible for government repayment programs (paye, ibr).

 

[DentalFox]

You can get govt loans to cover the total cost of attendance as designated by the school. $40,500 was the maximum this year for direct unsubsidized loans, and you may borrow the remainder as grad plus loans (slightly higher interest rate). You have to qualify for grad plus, so folks with poor credit may have an issue and may need a cosigner. I would be hesitant to take out private loans, but some people do, as those will be ineligible for government repayment programs (paye, ibr).

Is there a limit on the grad plus loans? Does the amount depend on the each individual school?

 

[free99]

Is there a limit on the grad plus loans? Does the amount depend on the each individual school?

The limit is set by the school and their estimated cost of attendance (that includes tuition, fees, equipment, and living expenses calculated from National averages by the financial aid dept). By no means do you have to take out the total COA (personally I'm 10 grand under what my school allotted), but some people do. Most find they have excess money at the end of the semester and opt to return it. You'll get all this in your financial aid prezzies during orientation week. For now celebrate hard your acceptances... Free time is soon to be in short supply.

 

[hGmatureapp]

I am curious...
is financial aid the equivalent to loans?
what are the interest rates like for these financial aids?

 

[cacajuate]

I am curious...
is financial aid the equivalent to loans?
what are the interest rates like for these financial aids?

Yes they are loans.