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regarding financial aid!

Discussion in 'Dental' started by Jobe, Aug 5, 2011.

  1. Jobe

    2+ Year Member

    Joined:
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    Pre-Dental
    If I have the money to pay for the tuition, is it still better to receive some financial aid for tuition?? or pay on my own??

    I am a citizen here and will be attending NYUCD.

    I will eventually have to pay back + interest.. so it seems like if I can afford it, i don't think it is necessary to get financial aid..?
     
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  3. It really depends on 1. where you are getting your money and 2. what is the difference between the orgination fees and interest you would pay on the loans and how much money you would earn (interest/dividends/etc.) on saving that money. If you can earn more on investments than 6.8% + origination fees, then take out the loans and invest the money you have. If your investments are not pulling more than the 6.8%, then pay the school expenses out of pocket. Now, if you have no credit, then you might want to consider taking out loans for your first two years - each from a different financial institution - so you can help build up your credit.
     
  4. sketo43

    5+ Year Member

    Joined:
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    Status:
    Dental Student
    I would at least apply for financial aid to see what they offer - it will be a mix of different loans and maybe grants. Then you can pick and choose what you want to accept. If they offer any grants, subsidized loans, or low interest loans, take those. For the rest of the cost, I would use your savings - these days it's hard to get 6.8% returns.
     

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