PCOM financial aid

[ErinG]

arrrgh-
I just wrote a post, posted it, and it appears that it has fallen into the internet abyss...truncated version of post:
I just got off the phone with the financial aid office at PCOM, and they weren't much help, soooo, I thought I'd post a question:
Current pcom students, did you find that it was pretty easy to get $$ over and above tuition costs (for rent, etc)? I asked the woman at financial aid, and she didn't really know what I was asking...
Also, what's the deal with claiming your parent's income--I'm 28 years old, married, and receive no money from my parents, and to claim their income will be detrimental because they make too much... What did you all do about this??

Anyway, any general info would be greatly appreciated on my part!

thanks guys-

---

Members don't see this ad.

 

[raptor5]

I am 28 and married and will be attending PCOM in the fall as well. When I recently filled out the Fasfa they considered me independent and I was given the option of filling out the parent section so I opted not to. I was under the impression that you can pretty much count on at 38500 for the first two years and 44500 the last two years. Anything above and beyond that will be based on their definition of need, grants, and scholarships. Do you have the financial aid packet they handed out at the interview in the financial aid office. If not call them and ask them for it.

good luck

 

[ErinG]

Hey raptor5-

Thanks for the info-
I'm so excited to meet you this summer! It's encouraging to know there are others out there who aren't 22 and unmarried...
(Although, sometimes, I do feel geriatric)

What does your wife do? I am a wee bit anxious about making time for my hubby while studying a billion hours a week, but it'll all work out, I'm sure. Are you guys going to live right near school? My husband will be doing his post-doc at Penn, so I think we'll live in center city (we have some friends who live there).

Anyway, thanks so much for the advice--
See you soon!

-Erin

 

[Dr JPH]

First of all, welcome to PCOM.


Secondly, don't worry about money. Worry about classes.

You can borrown $38,500 a year in Stafford Loans. $30,000 unsibsidized and $8,500 subsidized. Your 3rd and 4th years you can borrow up to $45,127.

There are also Perkins loans to students who qualify.

Private loans are a huge source of funding for most students as well. Personally, I recommend THE. They can be found at www.northstar.org

Great people, great rates, and PCOM is really familiar with them. I like them because they dont take origination fees like Sallie Mae does.

Any Q's, please let me know.

Erin: got your email. Congrats on finding a place! Let me know if you need any help with something.

Josh

 

[ErinG]

Hey Josh,

thanks so much for the info! I checked out the website and it seems very good!

Good to see you are back at SDN!

Gary:
Thanks so much for the info also-- can't wait to meet you in August as well! I'm getting really excited! (how many times can I watch 'Gross Anatomy'???)

 

[raptor5]

'Gross Anatomy' What would that be?

 

[medic0129]

One thing that wasn't mentioned is that PCOM as well as other schools have some nebulous formula that they use to calculate the "cost of living." This includes all costs of tuition, books, equipment, all other school stuff, rent, utilities, bills, etc... pretty much almost everything that a student would need to spend money on is calculated for. Anyway, for the school year 2003-2004, this was calculated as a grand total of $53,000. Although Stafford will give you up to $38,800 I believe (I might be wrong here with the total number) they do break it down into subsidized (no interest aquired) and unsubsidized (interest will accrue). I can speak for last year how it went down for me. I got the Stafford loans and anything additional that I needed, I had to go and find a DIRECT LENDING SOURCE, which basically means another source to give me money. I used Citibank, they have a good student plan there and the interest rates were great. The thing you have to remember is that you CAN NOT get a sum of financial aid above what the school has set (in this case max. of $53,000). That's the financial aid cap that the wizards here at the PCOM financial aid office have cooked up. However, I think that for the class of 2008, PCOM has changed their ways. I think that PCOM is actually going to become a DIRECT LENDING SOURCE. This means that you no longer will have to find a direct lending source on your own (such as Citibank, Sally MAE, AES etc..) This should help facilitate the financial aid process. I didn't find the financial aid services that helpful, especially when I called to ask them a question and they said, "you don't understand." and I replied, "exactly! that's why I am calling."
Good luck to you all getting fin. aid. Just remember that there is a ton of money out there. YOU just need to work to get it. PCOM also puts out a good book that has a ton of scholarships in it for all people from all different walks of life.

Hope that this helps.

Good luck in all your endeavors and be prepared to work like you have never worked before.