Is it possible to finance all your tuition by loan?
Started by fxok425
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$35K for tuition alone? You can definitely find a less expensive school if it really is an issue. the school I am applying to is under $15,000/year for residents of the state.
I plan to finance pretty much all of my tuition AND living expenses through loans while in pharmacy shcool. I thought I read somewhere that pharm students are eligible for around $40,000/year in Stafford loans but I am having trouble finding that info again to confirm that it is true.
If anything you should be able to do a combo of government/private student loans to cover it.
I plan to finance pretty much all of my tuition AND living expenses through loans while in pharmacy shcool. I thought I read somewhere that pharm students are eligible for around $40,000/year in Stafford loans but I am having trouble finding that info again to confirm that it is true.
If anything you should be able to do a combo of government/private student loans to cover it.
I get 46 k a year to cover everything. My tuition is only 9 a semester, though, so I have plenty to live off of.
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M
Mandu08
I have a 35K/yr for 4 yrs loan from my bank.
ofcourse everybody lives off of loans. Federal loans will cover all of your living and tuition expenses, but if you have good credit you can get private loans too and if you don't have good credit you can get a cosigner and get one. My friend get extra 50K a year from private loans for his brand new bmw, best computers, watches, shoes, $300 pair of pants etc... and once you graduate you pay it back. But it is your personal choice how you want to live and how much money is enough.
I dont get it through my bank.
Stafford pays up to 32500/year. I pay the other 2000 to cover the difference in tuition. You can then get a grad plus loan for another 18K+/- per year. After that it's private loans. Currently I'm using savings for the difference of Tuition-Stafford. When Savings runs out I should be halfway through my 3rd year. Depending on whether or not I've cashed out my 401K from my old job or not, I'll have to figure things out then. Probably go GradPlus and hope I've got a decent intern job to make ends meet. I expect to be 150K in debt by the time I graduate.
Yes, it's a private school, like UOP, the tuition is about 35k or more a year. I probablly wouldn't get accepted to a school in 2 years, but I have to prepare for it. I shouldn't have any problem on living expense, but the tuition is a big pain.
If I have equilty on my house, will it hurt when I apply for a federal loan?
If I have equilty on my house, will it hurt when I apply for a federal loan?
Moving to financial aid forum for discussion.
Nope. Home equity and retirement savings are not considered in assessing your financial aid.
Also, for loans, you can generally borrow up to the whole cost of attendance set by your school (this includes living expenses) less any other aid with GradPlus loans. With the GradPlus loans, there really should be no need to get a private loan unless you can't live on the budget set by your school.
Sorry to revive this thread... I heard from someone going through the process of ugrad... She earns 45k a year, and has a home (200-400k range). Son got into USC. Upon applying for financial need, they said she didn't qualify, that she could mortgage her home or even sell it.
So... for med school, will it depend on the school when they assess your financial need in determining how much aid you will get from the school itself? (non-federal aid)
For example, currently I earn little, so of course my w-2 is crappy and I should be able to borrow max amount in unsub loans. When I apply for grant/aid money from the school, I have to show my parental income for contribution. Will my parent's home (900k+ at least) be taken into account, like it did for that lady and her son with USC?
So... for med school, will it depend on the school when they assess your financial need in determining how much aid you will get from the school itself? (non-federal aid)
For example, currently I earn little, so of course my w-2 is crappy and I should be able to borrow max amount in unsub loans. When I apply for grant/aid money from the school, I have to show my parental income for contribution. Will my parent's home (900k+ at least) be taken into account, like it did for that lady and her son with USC?
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