NYCOM cost

[Chrisobean]

i was wondering if any current NYCOM'ers could give me some insight into the cost of attendance.
At my interview the financial aid people said they estimate one year to be about 60g, and I find that extremely high.

I will need to borrow for tuition, books + supplies, rent, gas money, food... (i already have medical insurance for the first year).

are you able to change the amount of your loan from year to year? do most students usually take out the max in stafford loans and then borrow some more cash privately?

anyone want to give a breakdown? feel free to PM if you dont want anyone to know that you are rolling in dough

thanks!!

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[Dr JPH]

$60,000 a year in estimated costs is high.

At PCOM, a typical 1st or 2nd year student has an estimated cost around $52,000. And that's high. Our tuition is $31,101

 

[Cowboy DO]

I am definitely not paying 60g's. I think my loan is for mid to high 40's...I should probably know this shouldn?t I?

 

[sia_simba]

Tuition cost about 30k per year.
Housing cost about 700-800 which is about 8400-9600 per year.
Books - unless you are really anal, you dont need all the books so that'll save you a few hundred dollars. but no more than 1k I am guessing if you choose to buy all the books.

Gas - depends on the type of car you drive, 25mpg, you dont really have to worry about gas. because commute should be 15mins the longest if you stay around the school.

Max the school let you borrow first year I think is 48k, not 100% sure, but the amount decrease second year. However, you are able to apply for scholarship and such, should take advantage of that.

PLus, everyone who leaves school owes tons of money, so why dont you borrow some extra money and buy yourself a nice car too. =) or maybe a rolex. Gota be in style right ?

 

[oceandocDO]

Housing cost about 700-800 which is about 8400-9600 per year

I've never paid more than about $600 a month for an apartment and actually my first two years I never paid more than $475. It's expensive, but it's not $700-800 a month... if you're paying that you're either living alone or living it up...

$1000 a year for books is a bit high too... I dont think I've ever spent more than $300 a year... and that's generous.

 

[Chrisobean]

did anyone take out private loans on top of the stafford? i think the stafford max is 38500 and i dont think that will cover me.

can you change your loan amount from year to year if its too much or too little?

i have absolutely no idea what i am doing here. i need my mommy! hehe

 

[labruy69]

my rent is $1050, but I live in a studio with my husband. If you're don't mind living with people, 400-600 is average.
I took out the 38500 1st year + max amt private loans...total was about 50K
2nd year I took 38500 stafford and max private = about 52K
for 3rd year I will be taking max stafford of about 42K and 10K private loans.
We live ok on this money plus my husbands mediocore salary, but we;re still emptying the bank the few weeks before loan checks come.
If you don't take max loans, you can always request more money in private loans or perkins during the school year.
If you take too much money, you can always use it to pay some of the interest on you loans. This does not mess anything up with your loans b.c I did it 1st year and everything is ok with my loans.
Once you live in LI, your car insurance will be outrageous! We move here and now we pay $1500 more a year in car insurance.

 

[jakp0t]

can we back up?
after filling out the FAFSA is there anything else I need to do? i still have no idea how much im gonna get.
also, when you guys talk about taking out a private loan... are you getting that from your bank??

 

[labruy69]

yeah, private loans from a bank. I got mine through key bank's Medachiever loan. you request what you think you'll need, up to the maximum (I think it's 54K next year). key bank decides if you're credit worthy enough, approves you and sends you a master promissory note. you send it to nycom and they do what they need to do with it. if you request 15000k from key bank, but the school sets a max less than (stafford + 15000k), you will get the max - stafford for private loans. example of numbers:
stafford = 38500K
max school sets = 54K
amount you can request from key bank = 54000-38500 = 15500
if you are confused, call financial aid. if they don't make sense, call key bank and tell them you're interested in the med achiever loan. they'll tell you what to do.

the school sends you this pink folder like thing with the fafsa application in it and a few forms to fill out. the pink folder has due dates for each of the forms and lists what each form is for. if you didnt' get this yet, call financial aid.

 

[jakp0t]

that was the best explanation of all this crazy loan buisness... thanks!

i guess im getting worried cause i turned in my FAFSA over a month ago and i havent received anything from nycom yet.

again, thanks!