Financial Aid

[StephanieOD2B]

Hello all optometry students!

I will be attending optometry school in the fall, and I am worried that I will not get enough financial aid to offset the cost of school and the cost of living, i.e. rent or mortgage, insurance, groceries, etc. (My tuition will be around 30K a year if I go to UMSL, my first choice)

So, I am just wondering if any of you could tell me if you got enough aid to cover your expenses during school and so that you didn't have to live off of ramen and popcorn . Thanks for the help!

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[sco1styear]

I would suggest contacting the school's financial aid office and discussing your concerns with them. I have never had a problem with not having enough money but you do need to be careful not to borrow more than you need.

And, I've NEVER eaten Ramen noodles for a meal - they are disgusting!!!

 

[prettygreeneyes]

Mmmmm.... Ramen noodles and tomato juice. Poor man's spaghetti.

While I do love my Ramen, I eat it once a month, at most. (My arteries thank me!) You should have plenty of money to eat decently.

sco1styear gives great advice in telling you to contact your school's financial aid office. They will be able to give you the exact break down of what you should receive. Then you can plan your budget (and menu) accordingly.

 

[planex]

Hello all optometry students!

I will be attending optometry school in the fall, and I am worried that I will not get enough financial aid to offset the cost of school and the cost of living, i.e. rent or mortgage, insurance, groceries, etc. (My tuition will be around 30K a year if I go to UMSL, my first choice)

So, I am just wondering if any of you could tell me if you got enough aid to cover your expenses during school and so that you didn't have to live off of ramen and popcorn . Thanks for the help!

The financial aid office will certainly help you to get all that you need. But as you go up in loan amounts, the rates and terms get ugly. So like has been said, borrow only what is needed.
Having said that, if I could go back, I would have tried to buy a home for the four years while away at school. Consider the money lost to rent each year and compare that with buying a small home and selling that home(even at a small loss) following four years.
If you are willing, you could even share the house and collect rent from an underclassman and really get ahead.
Ramen is awsome with an egg dropped in it as it is finishing boiling...like egg drop soup...still eat them each week...the MSG is addictive

 

[StephanieOD2B]

Thanks for the input. My husband I are actually looking at houses, as we feel the same way about rent being a bit of a waste. I am just afraid we will take out a loan on a house, and then I won't get enough financial aid to cover my share of the expenses. How stressful!!!

Did anyone else here buy a house with no income other than financial aid?

 

[eyestrain]

I also agree with buying a house. If i could do it over again, I would definitely look for a place to buy.

 

[prettygreeneyes]

Thanks for the input. My husband I are actually looking at houses, as we feel the same way about rent being a bit of a waste. I am just afraid we will take out a loan on a house, and then I won't get enough financial aid to cover my share of the expenses. How stressful!!!

Did anyone else here buy a house with no income other than financial aid?

You shouldn't be worried about not getting enough loan money if you buy a house because the federal loans (Stafford, etc.) are not based on your credit. As an optometry student, you get a certain amount up based on the budget established by your school. (If I'm wrong... correct me here guys!) As long as you meet the criteria established by the government, you should get the loans.

The loans that ARE based on your credit are private loans, like from your local bank, etc. Generally, you get those only if you forsee not having enough money from your federal loans, scholarships, WICHE (if that applies) etc.

I attend Pacific, and my husband is applying to Pacific as well for next year. We are actually right in the middle of getting pre-approved, so I'll let you know how it goes. Our circumstances are a little different though, because my husband still works as an engineer, and we are getting the loans based on his income alone, because I don't think you can count student loan money as income. We are basing our desired payments on our budget while both of us are getting loans. Hopefully... it all works out!

(This is all based on my experience... always best to check with those who get paid to deal with this for a living!)

 

[rkl_OD2be]

I'm a first year UMSL student this year. We decided to buy a house instead of rent. My situation is "not typical" as I'm an older "non-trad" student with a wife and 2 children (ages 4 & 6).

Feel free to send me a PM if you have more specific questions about UMSL, etc.

 

[Army Captain]

Have you considered a Health Professions Scholarship for Optometry? It provides full tuition, book allowance and a generous stipend of $1300 per month.