So I got my financial aid summary and it only covers 45% of the total cost

[full]

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So I got the USC financial aid rewards summary.

It says I'm awarded (through Federal loans) $45,000.

It says student contribution is $58,000

I thought that everything could be covered through loans?

 

[mx41]

Federal, interest-free loans can only cover so much. A while back, the government could loan you full tuition but they stopped that now. You have to get loans from banks to cover the rest of the cost.

 

[kaderoju]

The 45k that u'll be awarded in loans may be subsidized. but the remaining amount that u'll need to cover tuition i think you'll be able to request unsubsidized loans in form o private loans etc. On your FASFA if you are dependent (ie, under 24 ) then i think you would have to put your parents info which may be why your EFC is soooooooo high. But is you have a child then you are independent and they'll give you more aid. So technically you will have full coverage through unsub and sub loans. My financial aid office school stated that the students MUST have good credit! so you'll be fine. i'm sure they aren't expecting you to pay 58k out of pocket.

 

[lovedent]

The 45k that u'll be awarded in loans may be subsidized. but the remaining amount that u'll need to cover tuition i think you'll be able to request unsubsidized loans in form o private loans etc. On your FASFA if you are dependent (ie, under 24 ) then i think you would have to put your parents info which may be why your EFC is soooooooo high. But is you have a child then you are independent and they'll give you more aid. So technically you will have full coverage through unsub and sub loans. My financial aid office school stated that the students MUST have good credit! so you'll be fine. i'm sure they aren't expecting you to pay 58k out of pocket.

I thought all dental students are considered as independent....,,

 

[herkulease]

I thought all dental students are considered as independent....,,

true but the law requires all health professional students to provide their parents income regardless of status if they want health professional student loans.

 

[judottt]

you should call your school's financial aid office, instead of relying on sdn for this one. They would tell you exactly why you didn't get fully covered and what else you can do. Plus, some schools offer their own loans with lower interest than banks and tuition waivers.

I received 45g in federal(sub. + unsub). I have to apply for the federal grad plus loan to get another 30g.

 

[lovedent]

true but the law requires all health professional students to provide their parents income regardless of status if they want health professional student loans.

yea,,,that's what i thought😀

 

[baseballjunkie]

true but the law requires all health professional students to provide their parents income regardless of status if they want health professional student loans.

FALSE. As a graduate student, you are an independent. It does not matter what your age is. The reason why they'll have you put down parent's info is that some states have extra loan/grant money specifically for health professionals. For example, Washington state has many grants and also has a specific Health Professsional loan that'll give $6,000 similar to an unsubsidized loan.

Here is what you do... call up your fin aid office and talk to them. What they'll have you do is write a letter of 'financial circumstance' and fill out some other paperwork. Basically, you write a letter stating "I was making X amount of money before starting school, but now that I'm going back to school I won't have that income anymore". They will reevaluate your financial aid and then adjust your award.

So don't freak out just yet and assume you have to pay that much out of pocket. Call your fin aid department and they should be able to help you out...

 

[BiomajorPreDent]

You need to apply for the federal direct plus loan

 

[herkulease]

FALSE. As a graduate student, you are an independent. It does not matter what your age is. The reason why they'll have you put down parent's info is that some states have extra loan/grant money specifically for health professionals. For example, Washington state has many grants and also has a specific Health Professsional loan that'll give $6,000 similar to an unsubsidized loan.

Here is what you do... call up your fin aid office and talk to them. What they'll have you do is write a letter of 'financial circumstance' and fill out some other paperwork. Basically, you write a letter stating "I was making X amount of money before starting school, but now that I'm going back to school I won't have that income anymore". They will reevaluate your financial aid and then adjust your award.

So don't freak out just yet and assume you have to pay that much out of pocket. Call your fin aid department and they should be able to help you out...

Unless they happen to change a 10 year old law then no. if you're pursuing in this case dental, but it also apples to DPM, DVM, pharmacy, optometry if you want the funds under the HPSL you're required to fill it out. Schools are likely going to try to help you as much as possible so they'll try and get that money. Washington likely ties whatever program they have to it.

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2) PARENTS' FINANCIAL INFORMATIONBeginning with the 1993-94 academic year, all graduate students will be considered independent according to the need analysis formula in Title IV of the Higher Education Act. Nonetheless, institutions still must take parents' information into account for the purpose of awarding HPSL funds. This requirement cannot be waived. In cases where the parents refuse to provide income information, an affidavit documenting such a refusal cannot be accepted in lieu of the required information. Unless the parents are deceased, a student who does not provide parental income information may not be considered for HPSL funds.
The amount of HPSL funds awarded to a student plus the amount of the student's expected family contribution--including parents' contribution--may not exceed the student's cost of attendance. Note that Department of Education programs authorized under Title IV of the Higher Education Act, such as Federal Stafford Loans, Federal Perkins Loans and Federal College Work-Study, do not require parents' contribution to determine eligibility for independent students. HPSL, however, requires parents' contribution for all students without regard to age, tax, marital or independent status. It is possible, therefore, that an independent student's expected family contribution figure will be lower for determining the amount of a student's need for these Department of Education Title IV programs than for the HPSL program, because parents' financial information is not taken into account. For the purpose of awarding HPSL, the Department of Education funds may replace the parents' contribution for students who meet the Higher Education Act's independent student definition for Title IV programs. An overaward will not result as long as the total of the independent student's contribution plus financial aid from all sources and actual other resources does not exceed the cost of attendance.
[42 CFR Part 57.206]

http://bhpr.hrsa.gov/dsa/sfa g/health_professions/2hpslcom-02.htm

You'll have to remove the space. between the "a" and "g" SDN marks the word.

 

[xhamburgersamx]

$45,000 is the combination of federal "stafford" loans (sub + unsub).

You need to apply for GRADPLUS loans which covers the rest of the 100K+ cost of attendance. I/m not sure why you have to contribute money, maybe you forgot to submit that supplemental form? HELLO? Do that or call the financial aid office, not admissions.

 

[full]

I submitted the supplemental form awhile back.

Yeah, I'm gonna contact the financial aid office on Monday.

I feel it's good to people's opinions on this board too in order to get multiple views--the school's financial aid office might be bias or limit what they tell you.

 

[Simiam]

45k covers the Sub/Unsub Stafford loans.

You apply to cover the rest with Grad PLUS loans. (Also through US Gov)

All Graduate/Professional students are considered INDEPENDENT under FAFSA.

If you want to try for HPSL, etc (Limited quantity Subsidized 5% loan), than you are required to give your parental information as well. You are still classified as an INDEPENDENT, but these loans were designed for students that will receive zero aid from family.

Also, there will be various scholarships that require parental/other supplemental information.

 

[Simiam]

For instance, this past year my estimated CoA for Temple was 78k.

45k from Stafford
33k in Grad Plus

 

[harrismp]

45k is the most that is offered for sub/unsub. You can take out grad plus based on what your school deems is the cost of attendance. So if 50k is the cost of attendance you can only take out 5k in the grad plus. If you require more then you must get a private loan.

 

[full]

How do I get these private loans?

 

[judottt]

Just spend the 5 minutes, and call your financial aid office. That's what they are there for. They will be able to tell you about specific loans/scholarships your school offers plus other options for loans.

Don't waste time on SDN getting answers about financial aid, just call your school and get the real answers instead of having to read people disagreeing about the inclusion of parent's info.