Regarding Financial Aid

[Glgll]

Hello
I just need some help accepting financial Aid. I will become first year student this fall, and will be living with loans.
My question is, how much should i take from financial aid loan? should i just take out maximum because it will be my first year and don't know how it is going to be?
I tried to calculate and im curious that on different thread, I saw you can graduate with 200000 loan, but i dont think it is possible because tuition solely is 47000 per year. And I also saw the post sayint graduating with 300K plus should seriously reconsider because it is poor financial decision. I am confused again here because if you have to live 4 years with only loans, and get money which school calculated for you, plus interest, it will be 300K.

I am veryyy confuseddd. please help this poor incoming student.
And sorry if this was stupid question

Thank you so much,,

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[Treaty of Dorsi]

Hello
I just need some help accepting financial Aid. I will become first year student this fall, and will be living with loans.
My question is, how much should i take from financial aid loan? should i just take out maximum because it will be my first year and don't know how it is going to be?
I tried to calculate and im curious that on different thread, I saw you can graduate with 200000 loan, but i dont think it is possible because tuition solely is 47000 per year. And I also saw the post sayint graduating with 300K plus should seriously reconsider because it is poor financial decision. I am confused again here because if you have to live 4 years with only loans, and get money which school calculated for you, plus interest, it will be 300K.

I am veryyy confuseddd. please help this poor incoming student.
And sorry if this was stupid question

Thank you so much,,

+1

 

[SGLT]

should i just take out maximum because it will be my first year and don't know how it is going to be?

I don't know much you should be taking out but there's no point in taking the max at the beginning. You can always takeout more at any time during the year so why let the interest build when you don't have to

 

[DexterMorganSK]

Hello
I just need some help accepting financial Aid. I will become first year student this fall, and will be living with loans.
My question is, how much should i take from financial aid loan? should i just take out maximum because it will be my first year and don't know how it is going to be?
I tried to calculate and im curious that on different thread, I saw you can graduate with 200000 loan, but i dont think it is possible because tuition solely is 47000 per year. And I also saw the post sayint graduating with 300K plus should seriously reconsider because it is poor financial decision. I am confused again here because if you have to live 4 years with only loans, and get money which school calculated for you, plus interest, it will be 300K.

I am veryyy confuseddd. please help this poor incoming student.
And sorry if this was stupid question

Thank you so much,,

If you are living on campus then the total COA for 4 years can easily be 200-300K, depending on the program you attend.

To lessen the overall cost, you can become an RA of your dorm (rent will probably be less for you), also factor in any scholarship funds you may receive throughout the 4 years, can also find a cheaper living option off-campus may be from 2nd year and on. Agreeing with the above, and IMO you should take out the max for the first year and see things go from there. If you are not using the additional funds then you have an option to return the money back to the Gov't (Financial aid office will give you a date for this).

 

[sad1980s]

Yeah it's a lot to swallow. I've always known the schools tuition and four years on loans for any of the 9 is around ~250k with the current pricing if you have to pay for living expenses. My scholarship isn't bad (5k) but there really isn't anything anyone going to pod school can do unless you're very well off beforehand.

Whether or not it's financially smart is pretty normal to worry about when it's this much money. I know one DPM irl and she does well (she didn't tell me her exact salary just said over 200k) but then I read stories on here from multiple people saying things like you mentioned and how rough the job market is. It's all anecdotes, it seems insanely hard to actually get a consensus on pod salary.

At the end of the day the only reason I'm not as worried is my willingness to move anywhere after residency for a good job. I never planned on living in a big city and never have.