question about northwestern...

[AtYourCervix]

is it true that northwestern only considers you a dependent the first year when calculating financial aid? i was shocked to see the $60,000 price tag that came with the first year...does it get any cheaper for subsequent years?

thanks...
dukegirlie :wink:

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[poindexter]

I don't think that's true...

From the introduction on the "Dependency Status Worksheet 2002-03":

Your dependency status does not change after you have matriculated, even if you get married or your parents are unable to provide the contribution we determine.

So it looks like the subsequent years probably get worse, rather than better.

Hope this helps!

 

[Papa Smurf]

You guys are joking, right? 60K+ every year for all 4 years? They actually expect you to take out about $250K in loans, or do they give many grants? Damn, and I thought $200K was bad! Haha, I wonder if there comes a certain point above which you don't even flinch when you see how much debt you owe. Scary stuff.

 

[Mr. H]

Hey there guys, I think you might be mistaken for the cost of one year. The tuition at NU is 33 K per YEAR, so its not as expensive as you thought.

 

[poindexter]

The $60K is for the entire M1 budget, $33K tuition, $15K room and board, $3K for computer, $2K for insurance. (Warning: I haven't actually gotten the package, so these numbers might be off.) Obviously, you don't have to take out this much, if you feel you can live for less, but that's what the school has calculated for the budget.

Northwestern's (unfortunate) outlook on financial aid is that everyone will have the resources to attend the school (read: resources=loans) and that the ultimate responsibility of the cost of med school lies with the student and his/her parents. Pretty ****ty policy, but it doesn't seem that they have problems getting students! It's definitely frustrating though.

 

[Esco]

I actually received my financial aid award from NW yesterday and the approximate price tag for attending is mor in the range of 50-52, 000, depending on where you live (off/on campus, wicker park or uptown) and what you expect your overall lifestyle to be. Just to ease any fears, I didn't see the number 60K anywhere on my sheet. Also, NW's financial aid practices debt capping...which is basically a set amount of money that nobody surpasses in terms of graduation debt. I believe this year it was 120K or so, but it goes up every year of course.

 

[drjo2002]

Just to make sure you know, the dept capping is only for need-based loans, not ones that people take out to cover their family contribution. Also, they pay off the interest on any need-based unsubsidized loans while you are in school...I don't think it is that bad at all. If the debt gets capped at 120 or 130 K I won't be paying that much more than UIC with it's 32K budget and I won't be paying the four years of interest while I'm in school.

 

[AtYourCervix]

the figure they gave me was in the 58k range...and this they claimed was a "standard student budget" for the M1 year. and the debt-capping isnt all its cracked up to be...it wont cover the 30k in "optional" loans they offered me to cover the expected family contribution. seems i will fall right under the debt cap average, so i will have to pay back the full amount of loans i take out. some of the few students i talked to claimed they indeed expected to be "a quarter of a million dollars" in debt by the end of four years, and this is because many of them had to borrow lots to cover the expected family contribution.

i was almost totally sure i would be going to northwestern, but i am not so sure now. its hard to pass up umichs instate tuition and reputation at this point.

dukegirlie :wink:

 

[Milhouse Van Houten]

yeah, i'm in a similar position dukegirlie. i got into ucsd, my state school. northwestern gave me a 58K price tag. i want to go to northwestern for the experience of living in a new place, as well as the high quality of life. but a quarter million dollars in loans? that's ridiculous and almost insulting.