housing and loans

Discussion in 'Physical Therapy' started by southerndptstudent, 05.12.14.

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  1. southerndptstudent

    southerndptstudent

    Joined:
    05.12.14
    Messages:
    6
    Status:
    Physical Therapy Student
    Hello everyone! I would love if someone more experienced can share some advice with me. I'll be starting my DPT program this upcoming Fall in a new state (VA) and now I'm getting to the point of trying to find housing and financial aid. I've heard of the GradPlus loan which I will no doubt apply for but will it cover things like rent for an apartment? I can't see myself living in graduate dorms with the rules of a freshman apparently from what the dean of men has told me but I don't think I'll have time to hold a job as well.
     
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  3. rltruong

    rltruong 2+ Year Member

    Joined:
    10.23.12
    Messages:
    99
    Status:
    Rehab Sci Student
    I'm actually in the same process right now. My program is in texas and tuition here is ridiculously low compared to anywhere else so this may not be the same situation. My program cost ~9k for tuition per year. So the financial aid office has estimated 40k per year for tuition and living expenses which is way more than any body would need. of the 40k it is about half and half split between the unsubsidized direct loan and grad plus. when i filled out my fafsa i indicated that i would be living off campus. We didn't have to do any extra applications besides the fafsa for the unsubsidized loan or the GRAD PLUS loan.

    My plan is to only accept the unsubsidized loan because of the lower interest rate. Unlike undergraduate school, grad students no longer are awarded the subsidized loan so interest starts while we are in school as oppose to 6 months after graduation.

    You have to think about how much interest is added while we are in school. for every 10k you decide to take out at 6%(estimate) thats $600 dollars of interest per year added to the principle. I don't know about you but i don't want to spend the next 20 years paying off loans.
     
  4. southerndptstudent

    southerndptstudent

    Joined:
    05.12.14
    Messages:
    6
    Status:
    Physical Therapy Student
    Thanks for responding! I just got accepted Friday so I'm trying to figure all of this out now. I am so with you about not spending the next 20 years paying off loans. I'm just so confused as to whether I should find an apartment or suffer and live basically as an undergrad freshman (with two beds in one room, rules, etc.) again for my first year which will be miserable but cheaper. I don't plan on working while in school because I've been told by PTs I've observed that it would not be wise.
     

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