How am I going to Pay for D-School?!?

[sharksurfer]

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i had a questions regarding the following two loans:

Loans for Disadvantaged Students (LDS)

Health Professions Student Loan (HPSL)


i know that these loans require that ur parents submit their financial info...and im pretty sure that we would qualify (low income, 6 family members, 3 in college). so ya...

i heard that the HPSL is practically a scholarship and that if you are awarded this loan, it is for $20,000 a year at 5% interest.

What about the LDS? how much will this particular loan give you? just trying to figure out how i'm going to afford tuition at usc. if u have any advice or suggestions, it would be very much appreciated!!

 

[goffdent]

You may qualify for additional loans than other people, but you are still going to be paying a premium. Also, the HPSL is a LOAN, not a scholarship. It's a lower interest loan. If it's at 5%, that's good, but subsidized stafford this years is at about 4.5%. Granted.. you don't get as much usually, that's why they have Perkins, unsubsidized stafford and federal direct loans with 6-8.5% interest. EVERYONE is in the same boat as you and will be up to their necks in debt and will most likely be paying it off themselves without any family contribution. As for scholarships, they're usually very small if given from anyone besides the school itself. Often it's only a thousand dollars here and there, and often you must be considered a minority to qualify. Look into scholarships on FASTWEB, but as a grad student in general, you may not qualify for too many.

 

[zriceman]

You may qualify for additional loans than other people, but you are still going to be paying a premium. Also, the HPSL is a LOAN, not a scholarship. It's a lower interest loan. If it's at 5%, that's good, but subsidized stafford this years is at about 4.5%. Granted.. you don't get as much usually, that's why they have Perkins, unsubsidized stafford and federal direct loans with 6-8.5% interest. EVERYONE is in the same boat as you and will be up to their necks in debt and will most likely be paying it off themselves without any family contribution. As for scholarships, they're usually very small if given from anyone besides the school itself. Often it's only a thousand dollars here and there, and often you must be considered a minority to qualify. Look into scholarships on FASTWEB, but as a grad student in general, you may not qualify for too many.

Sub/unsub stafford for dental students are still the old 6.8 interest rates. The 4.5 i beleive only applies to undergraduate students. Not too sure about Perkins, but I believe its also only for undergraduates.

 

[jay47]

Sub/unsub stafford for dental students are still the old 6.8 interest rates. The 4.5 i beleive only applies to undergraduate students. Not too sure about Perkins, but I believe its also only for undergraduates.

I think you are right....we're getting killed here at the 6.8% rate...lucky SOB's a few years ago got em ALL locked down on 3% interest...

 

[zriceman]

I think you are right....we're getting killed here at the 6.8% rate...lucky SOB's a few years ago got em ALL locked down on 3% interest...

Youre at a texas school right? what's their tuition like? A dollar?

 

[DudeDDS]

Youre at a texas school right? what's their tuition like? A dollar?

LOL, yes. Actually it is. One dollar. And we're getting killed having to pay back $1.068. Obviously $1.03 is much better.