General Admissions & OTCAS How do you pay for OT school?

[OT20162017]

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I just wanted to see how everyone pays for/plans to pay for OT school? (what loans, scholarships, ect)

I am not really familiar at all with the process or what most people do and I do plan to have a financial aid meeting with the school I will be attending, but I do not want to go in blind.

Any feedback at all would be great!

Thanks!

 

[MasterOf.Science.]

Luckily for me, my grandparents have hinted that they would pay for the majority of it.
If something happens though, I'll take out loans. I've been trying to learn about the loan process- not sure how someone is able to get that much in student loans. I always thought there was a cap.

 

[cb31]

I just wanted to see how everyone pays for/plans to pay for OT school? (what loans, scholarships, ect)

I am not really familiar at all with the process or what most people do and I do plan to have a financial aid meeting with the school I will be attending, but I do not want to go in blind.

Any feedback at all would be great!

Thanks!

I think that majority of people take out loans (unless they have a savings or family is paying). There aren't many scholarships available for OT students (there are a few for second year OT students, but those are very competitive and still wouldn't cover much of ur tuition and cost of living). Grants are also hard (if even possibly) to get as a graduate students which again leaves loans. Some school may have scholarship or maybe fellowships/assistanships within their department, but u would have to search high and low those schools (as its not offered everywhere).The only thing that my school offered was work-study, no scholarship or any type of fellowship/asistantship was available to me. Also, in some areas u can sign a contract with a hospital... so u agree to work for them after u gruaduate for a predetermined time (usualy about 2-3 yrs) and they wil pay most (if not all) of ur tuition. But again this option isnt every where. So yes there are alternatives, but the likelihood that you will find and be able to get/do these alternatives is slim.

Also, there is a cap for the amount of stafford loan one can take out a year, but you still have the graduate plus loan that you can get. The plus loan allows you to take as as much as you to need cover tuition and cost of living. For this loan u just can't exceed the expected cost that your school designates that you would need.

Hope this helps. Loans suck, but again most people have to take them out to get this degree which is why many of us on here advocate to go to the cheapest possible OT school that you can find.

 

[c2902]

It may not be much, but look into what your state may offer in terms of grants, if you are planning to stay in the state where you reside. I went to school in Virginia (where I am a resident), where we have something called the VTAG - it's for graduate students in health professions and basically all state residents who apply, get it. It's not much money at all, but it's free money since it's a grant, not a loan, so some is more than none, you know?