Financial aid timeline

[lakewood]

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I must have overlooked something because I am really confused by the financial aid process.

I have been accepted to four programs (PsyD, mostly professional schools) and each has sent me an estimate for my loan eligibility.

One has not, and according to emails from the financial aid department, they will not let me know about my award until AFTER registration.

If I don't get full loans, my registration is out of the question. I can't make a decision without this information. Is this more normal than it seems? How can they not tell me how much financial aid to expect, and yet ask me to send a thousand dollar seat deposit?? I need to know!

 

[positivepsych]

How could they? Well, they could if they just care about getting your $$$, and not care about your financial well-being. Remember that professional schools are businesses first and foremost. I'm not saying that you can't get good clinical training there, but their primary objective is to keep the wheels of capitalism rolling along.

 

[psych00]

I think some schools, even ones who offer straightup funding and not even loans, don't give final numbers until everyone decides and they know for sure how much they have for everyone. But, like Positivepsych said, professional schools are kind of different anyway. They probably are structured more like.....you will be taking loans either way, so they know either they offer you what they can, or you would just have to take out other loans if they can't cover everything. This is my guess, don't just go by my word since I am not all that familiar with how professional schools work, but I'd definitely contact their financial aid office and explain your situation, and try to find out what you should/can do? Maybe if they know the only way you could attend is with their loan program, they might work with you more. Good luck

 

[psychwanabe]

How could they? Well, they could if they just care about getting your $$$, and not care about your financial well-being. Remember that professional schools are businesses first and foremost. I'm not saying that you can't get good clinical training there, but their primary objective is to keep the wheels of capitalism rolling along.

I would not limit these comments to just professional schools. All Universities, research-based and otherwise, are focused on the almighty dollar. A big part of earning tenure is how much grant money you bring in. For tuition remission and a very small stipend, graduate students at fully-funded programs are expected to work hard at the research that brings the funding via grants. You get the education, but they get a slave!! 😉

 

[lakewood]

For what it's worth, this is the one program that is at a university (Nova). Still not funded, and to many critics it is still modeled like a
professional school. But it is rather surprising to me, since the three professional schools I got accepted to at least sent me "estimates" of my loans. The deadline for my thousand dollar deposit check is next week, and I can't imagine giving up a thousand bucks if I don't know I'll be able to borrow the rest of the money. I've emailed financial aid and they say awards are not given until after registration. When I asked about some kind of estimate, I got an email back saying to refer to the previous email--that helps! Plus they addressed me as "Ms." instead of "Mr." When it comes down to a tough decision like this, this is pretty disappointing.

 

[Therapist4Chnge]

Unfortunately their financial aid people are flaky; I'd just try and keep after them until you get an answer.

-t