Financial aid

[FutureDocBerg]

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So its a requirement to apply to fafsa, but did anyone actually receive a decent amount from the government?

I know it depends on your circumstances, but those of you that are independent and made 11k last year. What can I expect? Anything?

 

[USCbiograd]

The purpose of filling out the fafsa form is to check for your eligibility for federal loans. This means that what ever amount of money you are eligible for (~42K per year for professional students in most cases) will be loaned to you. Some of it will be subsidized (the gov. pays your interest while in school) and some of it will be unsubsidized (the loan amount accrues interest while you are still in school). If this amount is not enough to cover expenses you may apply for a GradPlus loan (fixed at ~8%) through your lender. If you are not eligible for any of the money (unlikely unless you are very wealthy) you will have to take out loans from private companies (banks, etc.) that will likely have higher interest rates.

If you are speaking about what you can expect as far as Grants (free money from gov.), I would not expect anything. I believe that grants are only available to undergraduates. As far as scholarships go, they are essentially nonexistent unless you are willing to commit to serve in the armed forces after graduation.

 

[FutureDocBerg]

Ah, so the purpose is to determine eligibility for loans. Damn. Was hoping they would see how poor I am and give me scholarships such as undergrad. Oh well, sometimes you just have to man up and take out loans. Thanks for the insight. At least I am going to attend an inexpensive school!

Cheers