Tuition and living expense

[kitty84]

Hi, I have a question. How do you guys (pharmacy students) pay for tuition and living when you are a non-resident? Do they give you the loan for the first year or how do you handle it? And do they count you as a resident for the second, third and fourth year?

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[tt_vo503]

I'm sorry, but what do you mean by non-resident? Do you mean an out-of-state resident?
If so, then that is my situation. I'm a out-of-state pharmacy student, and you get treated just the same as any other student, loans/financial aid and all. The only difference is your tuition is higher. At my school, it is 3k higher than in-state residents. You qualify to receive the same amount of aid/loans as any other student.
hope that helps.

 

[monsterbrain]

I am considered an out-of-state resident, and so my tuition is over $5,000 per year higher than in-state residents. But I just learned today that after "living" (having an apartment while attending school) in-state for 6 months, I will be considered an in-state resident and my tuition will drop by that $5,000 figure. I will only have to pay an extra ~ $2,500 more for my first semester. What a relief!!

 

[GatorRxGirl]

loans, loans, and more loans.

stafford (sub. and unsub.)
gradplus
occasional work.

 

[fenixtnlfan]

Yeah loans is the way to go, which you will probably be using anyways. It depends on the state whether or not you can become an in-state resident. For the schools I applied to, you can become an in-state after a year in North Carolina and New York. But Indiana you can never be in-state. I think you can't be in-state in Arizona too, though I've never worried about that one since I live here. The price difference can be from a few thousand to double the in-state tuition. Usually all the prices and the school's policy are posted on their website.

 

[kitty84]

yes, I meant an out-of-state school. But wait a minute, how could you handle a higher tuition with the same amount of loans? Does it mean that you should not eat and do anything else???? How about working while taking classes? Is it possible?

Does anybody know about Michigan and Kentucky? Can you become an in-state resident after the first year?

 

[mrblah]

Students don't get the same amount. Your loans will be based on you FAFSA award, which tells the lenders how much to lend you.

The FAFSA award usually gives the same amount for stafford (which is the smallest award, lowest interest, and most students will take the maximum), but your unsubsidize stafford, and grad plus loan amounts will differ if you are out of state (i.e. you will have to take out more) or in state (you take out less).

I wouldn't worry about paying for school. As long as your credit history is clean, you will be offered more than enough to pay for school and to live off of.

 

[monsterbrain]

The FAFSA award usually gives the same amount for stafford (which is the smallest award, lowest interest, and most students will take the maximum), but your unsubsidize stafford, and grad plus loan amounts will differ if you are out of state (i.e. you will have to take out more) or in state (you take out less).

I'm still not really clear on this: is the grad plus loan subsidized or not?

 

[mrblah]

I believe its unsubsidized.

 

[Rumplestiltazepam]

You max out at 8500 subsidized with Grad loans.

A friendly tip....check out the stafford/grad loan website! The answers are all a mouse click away but people still seem lost....funny and sad.

 

[monsterbrain]

You max out at 8500 subsidized with Grad loans.

A friendly tip....check out the stafford/grad loan website! The answers are all a mouse click away but people still seem lost....funny and sad.

OMG, I've totally been there; however, it's just as confusing as getting your license plates renewed at the DMV. Typical government-run project, i.e., tooooo complicated.

 

[imperialto]

i found out for myself what all this stuff means as well...

stafford subsidized= no interest until 6 months after u graduate from pharm school or 6 month after ur last semester w/o attending school. MAX 8.5K/yr?

stafford unsubsidized= 6.8% interest starting from day loan starts (usually when tuition is due)

- You have option to pay interest on unsub. during school if u want to..

gradplus is unsub., i think, also at 6.8%

- i got 33k for 1st yr instate at Texas Tech , was making 50k b4, dunno if it figured into calculations or not.

lemme know if any more questions b/c we're all in the same boat now.

 

[monsterbrain]

gradplus is unsub., i think, also at 6.8%

^ LOL. See, that's what I mean. Anyway, I qualified for $41,000 but will definitely not be using all of that--maybe around $27,000.

Thanks for the info.

 

[RxWildcat]

Those loans add up quick too, I'm getting depressed thinking about it