Gradplus loans are for your living expenses. I think the max is somewhere around $24,000 per year. Graduate school loans have nothing to do with your parents income...you don't even have to fill out that info on FAFSA. For undergrad my family contribution as they tabulated it was rediculously high, but I got the max amount for NYCOM. These loans go by YOUR income, not your parents, even if you are a dependent. Check the max amout for what you want to borrow for stafford...tuition last year was around $37,000. Since you can borrow $42,722, you will get a rebate of $42,722 minus tuition and what ever the school takes out of it for fees or what not. The rebate and your gradplus money will be disbursed to you in two equal payments...one in September, the other in the end of January. You're most likely going to spend more money in the fall than in the spring since you have to buy books (I spent close to $2,000) and medical equipment (I spent about $1000). There is also a 3-day medical convention in October in San Diego that the school pays for your hotel, you need to pay for transportation and food if you want to go. You should calculate yourself in some money for that too.
When you get your rebate checks for the $42,722 minus school costs and your gradplus loans you can do what ever you want with the money. Some people have booked cruises, bought cars, and others spend it wisly! 😀 You should get all the money you need from stafford and gradplus, so I wouldn't worry about private loans at all unless the gradplus max and rebate check from stafford is not enough for you to live on for a year.
