FREAKIN ABOUT NOVA FINANCIAL AID!!! HELP

Discussion in 'Medical Students - DO' started by CVPA, Jan 23, 2002.

  1. CVPA

    CVPA Senior Member
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    Hey Guys:

    I sat down tonight to go through my budget in case I get in this year. Tuition for Nova is $20K. With a house and 2-kids, I need another $37K/year to live. I think, but I'm not 100%sure, they will only allow $20K.

    Are there ANY other sources?? I thought this was worked out last year, but our savings hasn't materialized as we had planned. Now I am totally FREAKED that the past 1 1/2 years of prep are all for not if I can't get any more financial aid. HELP!!
     
  2. mikeaparker

    mikeaparker Senior Member
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    well you get 38,500 from stafford loans...
    then check out the other loan programs... so you can get more... these are based on credit wrothiness alone.....


    Mike

    <a href="http://www.nsucom2006.com/yabbse/index.php?board=1;action=display;threadid=25" target="_blank">http://www.nsucom2006.com/yabbse/index.php?board=1;action=display;threadid=25</a>
     
  3. CVPA

    CVPA Senior Member
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    Thanks, Mike!! That definately helps. I'll call the school today.
     
  4. PainMan

    PainMan Senior Member
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    You can get loans above your "cost of attendance" set by the school, which is crap for students with kids. These are credit based also. Try the link below, you can get up to $20k/yr, and it is sent directly to YOU not the school. If it goes to the school first they will deduct the amount out of your staffords if you are above your COA....

    <a href="http://www.chelafinancial.com/?refrurl=Typed-Url" target="_blank">Supp Loan</a>
     
  5. CVPA

    CVPA Senior Member
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    You guys are awesome. This may be my answer. I am wondering, however, if I will have to pay interest during school or not. Any ideas? If I do, I do, as long as it gets me through.

    Thanks again, guys!
     
  6. bluejay

    bluejay Member
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    Hey, I go to NSU-COM. My understanding is that the 20K is for people without dependants. If memory serves, you get more for each dependant (not spouse, but kidlet). Don't panic until you call financial aid and double check.

    :D BJ
     
  7. PainMan

    PainMan Senior Member
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    you have the option of not paying interest during school. Even with the supplemental loans. However, with the supplemental loans the interest charged goes up a couple points if you defer the interest. So even right now you are looking at 9+% accruing during school...ouch.
     
  8. electra

    electra SDN Moderator
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    your spouse will need to work. your budget can be increased for 1/2 of your (verified) costs for childcare, but your loans are for your tutition and your living.

    file the fafsa and call your FAO.
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
  9. CVPA

    CVPA Senior Member
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    My wife works out of the house part-time as a Paralegal for a local law firm. By the time I would start, my oldest will be 2 1/2 and in school 3 days/week and the youngest (who will only be 1-month old) will obviously be at home.

    Does my current income play a factor in my allowed financial aid for 2002-2003 academic year? I would think not, as they would know that as a full-time student my income will drop to zero, right?
     
  10. Neurogirl

    Neurogirl Resident Extraordinaire
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    Be very careful. You CANNOT borrow more than your COA. You MUST report ALL income...even other loans, and if you borrow other money, your staffords will be reduced by an equal amount. Like someone said earlier...if the check goes to the school they will reduce the amount of your staffords. Why do you think they are able to do this? BECAUSE IT IS FEDERAL LAW. If you have the check sent directly to you, without disclosing the income to your school, you will have committed fraud. If you are caught, you will be unable to get future stafford loans! This happened to one of my classmates! These outside loans are generally used by those who have maxed out on their staffords (happened to me during my senior year of med school). Of course, the rules may have changed, but I seriously doubt it. Just make sure you know what you're doing.
     
  11. CVPA

    CVPA Senior Member
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    I knew this was too good to be true. It didn't seem right that a loan company would be willing to send me a check directly.

    This is just one crazy emotional rollercoaster. I guess I am just going to have to wait until the interview in 2-weeks at which time we will be getting a financial aid briefing at the end of the day. I will address my concerns to the FA staff at that time.

    Thanks for the information. As depressing as it may be, I need to know.
     

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