Financial Aid

[ajcp13]

For undergrad, I was extremely fortunate and did not have to take out any student loans. For PT school, I will be paying for it all myself, so I will need to take out loans for the first time in my life. For those of you who have put some research into it, or have the loan process down, do you have suggestions as to the best loans to take out for PT school? As we have all heard, working during PT school is not feasible, so we will not only need loans for school, rent, etc. but also for basic living expenses or any other recreational expenses. Which loans allow for expenses outside of those directly related to school? Thanks again and sorry if these questions seem elementary!

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[DesertPT]

the best will always being whatever the government will give you. You can borrow either subsidized or unsubsidized direct loans from the government, with amounts varying depending on how much financial need you have. You can borrow grad plus loans, which have a higher interest rate, to cover up to what is considered the cost of attendance of your program. If you need more than that, you have to move to private loans, where you need to tread very carefully. All the information you need on this subject can be found with a google search for federal financial aid.

 

[ajcp13]

the best will always being whatever the government will give you. You can borrow either subsidized or unsubsidized direct loans from the government, with amounts varying depending on how much financial need you have. You can borrow grad plus loans, which have a higher interest rate, to cover up to what is considered the cost of attendance of your program. If you need more than that, you have to move to private loans, where you need to tread very carefully. All the information you need on this subject can be found with a google search for federal financial aid.

Thank you! Yeah it seems like most people and sites recommend government loans over private. The biggest thing I've been struggling to understand is that almost every loan I have looked at says that a loan can be taken out for the amount needed for tuition, rent, etc. But obviously, things like groceries, gas, etc. are not school related expenses, but still need to be paid for with loans if you don't have a job. I've been primarily looking at Wells Fargo for private loans, and theirs also doesn't seem to allow for these extra-curricular expenses.

 

[Azimuthal]

Food and transportation are not "extra-curricular" and will be included in your loan determination.

 

[ajcp13]

Food and transportation are not "extra-curricular" and will be included in your loan determination.

Great thank you! I just meant expenses not directly related to school I guess I appreciate the clarification!

 

[sunnyskies26]

I know you can also take out loans through some credit care companies, specifically Discover. There are so union scholarships that are more rare, but you can check depending on where your parents work. I got a Kaiser scholarship one year because my dad is a kaiser employee. Other than that, hopefully saved funds will help! Haha. I'm dreading all these loans too :/

 

[jdaniels360]

Stafford covers 20.5k per year for the most part. At Nova we get 30.5k for stafford. Grad PLUS covers the rest. That includes living expenses.

 

[Hopefulone13]

Stafford covers 20.5k per year for the most part. At Nova we get 30.5k for stafford. Grad PLUS covers the rest. That includes living expenses.

Do you need great credit to get the Grad plus loan?

 

[jdaniels360]

Nope it just can't be adverse credit etc