How to apply for loans?

[acvdental937]

Basically, I know nothing about loans but was wondering how I can learn what my options are. What resources can I use to apply for loans? What type of loans would someone in my position qualify for? Where can I find out more?

I had a full scholarship during undergrad, so I never had to take out any loans. I know dental school is really expensive, and my parents don't qualify for any need based financial aid. However, they will not be able to help me pay for dental school.

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[Mr.Smile12]

Let's start out with: Financing options and .

 

[artist2022]

Basically, I know nothing about loans but was wondering how I can learn what my options are. What resources can I use to apply for loans? What type of loans would someone in my position qualify for? Where can I find out more?

There are federal loans and private loans. Federal loans are usually your best bet. As a graduate student, you have Direct unsubsidized and Grad PLUS loans available to you. Direct unsubsidized has an annual limit of 40k, and the remainder of your COA will be Grad PLUS loans. To apply for these, you need to fill FAFSA out (would do asap as the priority deadline was 3/2/20), and then your school will send you a financial aid packet that you will accept. After, you'll sign loan doc like a Master Promissory Note, and then the loans will be disbursed to your student/bank acct before school starts.

On FAFSA, you can choose to include your parent's information and based on that, you may receive university aid (university loans, grants, and scholarships) and the Health Professional Loan (low interest, subsidized). I would contact the school you'll be attending for more info on their university aid, as they usually require additional forms/info than just what FAFSA has.

This is a really brief overview on the whole process, but the links @Mr.Smile12 have above are a good start, as well as the Federal Student Aid website -- this has TONS of info and you should take a good look at it.

 

[batman12345]

There are federal loans and private loans. Federal loans are usually your best bet. As a graduate student, you have Direct unsubsidized and Grad PLUS loans available to you. Direct unsubsidized has an annual limit of 20k, and the remainder of your COA will be Grad PLUS loans. To apply for these, you need to fill FAFSA out (would do asap as the priority deadline was 3/2/20), and then your school will send you a financial aid packet that you will accept. After, you'll sign loan doc like a Master Promissory Note, and then the loans will be disbursed to your student/bank acct before school starts.

On FAFSA, you can choose to include your parent's information and based on that, you may receive university aid (university loans, grants, and scholarships) and the Health Professional Loan (low interest, subsidized). I would contact the school you'll be attending for more info on their university aid, as they usually require additional forms/info than just what FAFSA has.

This is a really brief overview on the whole process, but the links @Mr.Smile12 have above are a good start, as well as the Federal Student Aid website -- this has TONS of info and you should take a good look at it.

Isn’t it 40k max of federal unsub for dental students?

 

[artist2022]

Isn’t it 40k max of federal unsub for dental students?

Edit: went back and read and yes, it's a higher limit for students in certain health professional programs.

$47167 for a full 12mo year, $40,500 for 9 mo (like UCLA's first year).

 

[batman12345]

Edit: went back and read and yes, it's a higher limit for students in certain health professional programs.
View attachment 304949
$47167 for a full 12mo year, $40,500 for 9 mo (like UCLA's first year).

Thank god, get that lower interest rate

 

[acvdental937]

There are federal loans and private loans. Federal loans are usually your best bet. As a graduate student, you have Direct unsubsidized and Grad PLUS loans available to you. Direct unsubsidized has an annual limit of 40k, and the remainder of your COA will be Grad PLUS loans. To apply for these, you need to fill FAFSA out (would do asap as the priority deadline was 3/2/20), and then your school will send you a financial aid packet that you will accept. After, you'll sign loan doc like a Master Promissory Note, and then the loans will be disbursed to your student/bank acct before school starts.

On FAFSA, you can choose to include your parent's information and based on that, you may receive university aid (university loans, grants, and scholarships) and the Health Professional Loan (low interest, subsidized). I would contact the school you'll be attending for more info on their university aid, as they usually require additional forms/info than just what FAFSA has.

This is a really brief overview on the whole process, but the links @Mr.Smile12 have above are a good start, as well as the Federal Student Aid website -- this has TONS of info and you should take a good look at it.

Thanks so much for the informative response! I didn't know where to begin so I really appreciate it.