Uh Oh! Financial Aid Package Came in the Mail Today

[ZekeMD]

I received my Financial Aid Package from Rochester today. So I opened it up to see that I had received ~10K in scholarships . I was very excited about that, until I looked at the rest. I'll be taking about 40K in loans this year alone ! Is anyone else feeling a bit overwhelmed by this? I felt like I was signing my life away when I was filling out the promissary note. Please tell me I'm not alone in this and some of you are also taking out lots and lots of loans!

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[Cerberus]

wow! thats a lot! HPSP sound really good....

 

[ice_23]

Damn I feel for you. I don't know what my aid packages are going to be, but I'm sure that other people are in a similar situation.

-Ice

 

[SaltySqueegee]

"OM NAMO BHAGAVATE VASUDEVAYA"

-Ice

namas de? .

 

[ice_23]

namas de? .

huh?

-Ice

 

[SaltySqueegee]

huh?

-Ice

hmmm... maybe not... your quote looked distinctly hindu... never mind.

 

[jlee9531]

outside of the rich kids and the merit kids....

most of us will take everything out via loans. so you have a 40K head start on the rest of us. lucky you.

 

[josehernandez94]

I received my Financial Aid Package from Rochester today. So I opened it up to see that I had received ~10K in scholarships . I was very excited about that, until I looked at the rest. I'll be taking about 40K in loans this year alone ! Is anyone else feeling a bit overwhelmed by this? I felt like I was signing my life away when I was filling out the promissary note. Please tell me I'm not alone in this and some of you are also taking out lots and lots of loans!

Zeke,

When did you submit your financial aid application to Rochester (i.e., how long did it take you to hear from them with their decision?). I only submitted mine last week, so I was wondering how long I should expect to wait. Also, do they give you a breakdown for how much they allocate for housing, transportation, food, etc or do they just give you a lump sum? I'm most curious about the housing allocation (it was $600 last year for rent+utilities) and I'm curious if it's going up at all for this upcoming year.

 

[joker]

$40,000 is loans is not THAT bad. im going to be borrowing around $59,000 to go to UPENN next year (assuming they don't give me any need based scholarships). Which brings me to another point...I know I will get the $38,500 in govt loans, but where should I go to get the private loans which will cover my living expenses and stuff? I'm new to this, so any help would be appreciated!