Warelin

There are some universities that have rules that state you can only apply to one program per cycle. As a precaution, I'd check with the Graduate School to make sure it's something they allow.

In off the waitlist at Loyola

There are some universities that have rules that state you can only apply to one program per cycle. As a precaution, I'd check with the Graduate School to make sure it's something they allow.

In further craziness, I just had a paper on Frankenstein accepted for presentation at a conference on the Gothic! I’m shook! I didn’t think I would get accepted and I only applied for practice writing abstracts. It feels really good to be already be building my app for next cycle if I don’t get into Villanova. 

I'd like to expand on @mandelbulb's point here and add this: If you choose the one year option, it's highly likely that you'll need to take an additional gap year before applying. I think most professors are aware that European professors write differently from professors in the United States and they adjust for that. However, I think the concern is that a professor wouldn't know enough about your ability to succeed in grad school if you're asking them for a recommendation letter  after only a few weeks in a grad program. It takes time to form relationships with professors and for them to see your growth as a student so they can write you the best letter of recommendation they can. I think this is true for any 1-year grad program with the exception being if you've previously attended the school as an undergrad and wanted to develop your research interests more and have had previous interactions with the professor.
 
Another strong point is brought up here. It's important to remember that any loans for grad school are unsubsidized. It's also unlikely that you'll be able to afford to use much of your stipend to pay back student loans. This often means that your interest could go up a fair amount while you're attending grad school. This is concerning because there is no guarantee of a job at the end of the degree no matter where you decide to go. 

I think it's important to remember that prestige and "admissions standards" varies greatly between a PHD and an MA program. NYU's English PHD is a very competitive program. However, I imagine their MA program is considerably less competitive and selective to get into because they don't provide a full tuition waiver and a stipend to offset costs of living in NYC. It is important to remember that no college can guarantee that you'll be admitted into a certain (or any) Ph.D. program. A program's reputation at the MA level is different from what it is at the Ph.D. level. Those in academia are more aware of the reputation of different programs at different levels.

FWIW: The unsubsidized Graduate direct student loan rate was 6.6 percent in 2018-2019. There are no subsidized loans for Graduate Students.

Let's assume you decide to go to this unfunded program and take out a total of 60,000 for tuition and living expenses. Let's also assume that you can't afford to pay any of this loan back while in school because you're focused on writing great papers and developing deeper connections with your professors. You finish your 1-year program and take a gap year while working  at a new job and paying for applications.

After the deferment period of 12 months, the new loan balance is $64,059.09 , including $4,059.09 in accrued interest.

Let's suppose you manage to make interest-only payments during your gap year. You work hard;  save up money for grad applications and get accepted into a Ph.D. program. Your stipend isn't high enough to cover payments though so you defer.
 
After the deferment period of 72 months, the new loan balance is $88,864.53 , including $28,864.53 in accrued interest.
Without the interest capitalization there would have been 120 payments of $684.34 , for a total payment of $82,120.80 (including a total of $22,120.80 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 120 payments of $1,013.57 , for a total payment of $121,628.40 (including a total of $32,763.87 in interest plus $28,864.53 in interest accrued during the deferment period).

But: I will pay that off in 25 years, you say.

Without the interest capitalization there would have been 300 payments of $408.88 , for a total payment of $122,664.00 (including a total of $62,664.00 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 300 payments of $605.58 , for a total payment of $181,674.00 (including a total of $92,809.47 in interest plus $28,864.53 in interest accrued during the deferment period).

(Information grabbed from FinAid's calculator)

Costs not covered: Conferences, Moving Expenses, Emergencies,  Private loans if unable to find work, etc.

 

FWIW: The unsubsidized Graduate direct student loan rate was 6.6 percent in 2018-2019. There are no subsidized loans for Graduate Students.

Let's assume you decide to go to this unfunded program and take out a total of 60,000 for tuition and living expenses. Let's also assume that you can't afford to pay any of this loan back while in school because you're focused on writing great papers and developing deeper connections with your professors. You finish your 1-year program and take a gap year while working  at a new job and paying for applications.

After the deferment period of 12 months, the new loan balance is $64,059.09 , including $4,059.09 in accrued interest.

Let's suppose you manage to make interest-only payments during your gap year. You work hard;  save up money for grad applications and get accepted into a Ph.D. program. Your stipend isn't high enough to cover payments though so you defer.
 
After the deferment period of 72 months, the new loan balance is $88,864.53 , including $28,864.53 in accrued interest.
Without the interest capitalization there would have been 120 payments of $684.34 , for a total payment of $82,120.80 (including a total of $22,120.80 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 120 payments of $1,013.57 , for a total payment of $121,628.40 (including a total of $32,763.87 in interest plus $28,864.53 in interest accrued during the deferment period).

But: I will pay that off in 25 years, you say.

Without the interest capitalization there would have been 300 payments of $408.88 , for a total payment of $122,664.00 (including a total of $62,664.00 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 300 payments of $605.58 , for a total payment of $181,674.00 (including a total of $92,809.47 in interest plus $28,864.53 in interest accrued during the deferment period).

(Information grabbed from FinAid's calculator)

Costs not covered: Conferences, Moving Expenses, Emergencies,  Private loans if unable to find work, etc.

 

FWIW: The unsubsidized Graduate direct student loan rate was 6.6 percent in 2018-2019. There are no subsidized loans for Graduate Students.

Let's assume you decide to go to this unfunded program and take out a total of 60,000 for tuition and living expenses. Let's also assume that you can't afford to pay any of this loan back while in school because you're focused on writing great papers and developing deeper connections with your professors. You finish your 1-year program and take a gap year while working  at a new job and paying for applications.

After the deferment period of 12 months, the new loan balance is $64,059.09 , including $4,059.09 in accrued interest.

Let's suppose you manage to make interest-only payments during your gap year. You work hard;  save up money for grad applications and get accepted into a Ph.D. program. Your stipend isn't high enough to cover payments though so you defer.
 
After the deferment period of 72 months, the new loan balance is $88,864.53 , including $28,864.53 in accrued interest.
Without the interest capitalization there would have been 120 payments of $684.34 , for a total payment of $82,120.80 (including a total of $22,120.80 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 120 payments of $1,013.57 , for a total payment of $121,628.40 (including a total of $32,763.87 in interest plus $28,864.53 in interest accrued during the deferment period).

But: I will pay that off in 25 years, you say.

Without the interest capitalization there would have been 300 payments of $408.88 , for a total payment of $122,664.00 (including a total of $62,664.00 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 300 payments of $605.58 , for a total payment of $181,674.00 (including a total of $92,809.47 in interest plus $28,864.53 in interest accrued during the deferment period).

(Information grabbed from FinAid's calculator)

Costs not covered: Conferences, Moving Expenses, Emergencies,  Private loans if unable to find work, etc.

 

FWIW: The unsubsidized Graduate direct student loan rate was 6.6 percent in 2018-2019. There are no subsidized loans for Graduate Students.

Let's assume you decide to go to this unfunded program and take out a total of 60,000 for tuition and living expenses. Let's also assume that you can't afford to pay any of this loan back while in school because you're focused on writing great papers and developing deeper connections with your professors. You finish your 1-year program and take a gap year while working  at a new job and paying for applications.

After the deferment period of 12 months, the new loan balance is $64,059.09 , including $4,059.09 in accrued interest.

Let's suppose you manage to make interest-only payments during your gap year. You work hard;  save up money for grad applications and get accepted into a Ph.D. program. Your stipend isn't high enough to cover payments though so you defer.
 
After the deferment period of 72 months, the new loan balance is $88,864.53 , including $28,864.53 in accrued interest.
Without the interest capitalization there would have been 120 payments of $684.34 , for a total payment of $82,120.80 (including a total of $22,120.80 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 120 payments of $1,013.57 , for a total payment of $121,628.40 (including a total of $32,763.87 in interest plus $28,864.53 in interest accrued during the deferment period).

But: I will pay that off in 25 years, you say.

Without the interest capitalization there would have been 300 payments of $408.88 , for a total payment of $122,664.00 (including a total of $62,664.00 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 300 payments of $605.58 , for a total payment of $181,674.00 (including a total of $92,809.47 in interest plus $28,864.53 in interest accrued during the deferment period).

(Information grabbed from FinAid's calculator)

Costs not covered: Conferences, Moving Expenses, Emergencies,  Private loans if unable to find work, etc.

 

FWIW: The unsubsidized Graduate direct student loan rate was 6.6 percent in 2018-2019. There are no subsidized loans for Graduate Students.

Let's assume you decide to go to this unfunded program and take out a total of 60,000 for tuition and living expenses. Let's also assume that you can't afford to pay any of this loan back while in school because you're focused on writing great papers and developing deeper connections with your professors. You finish your 1-year program and take a gap year while working  at a new job and paying for applications.

After the deferment period of 12 months, the new loan balance is $64,059.09 , including $4,059.09 in accrued interest.

Let's suppose you manage to make interest-only payments during your gap year. You work hard;  save up money for grad applications and get accepted into a Ph.D. program. Your stipend isn't high enough to cover payments though so you defer.
 
After the deferment period of 72 months, the new loan balance is $88,864.53 , including $28,864.53 in accrued interest.
Without the interest capitalization there would have been 120 payments of $684.34 , for a total payment of $82,120.80 (including a total of $22,120.80 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 120 payments of $1,013.57 , for a total payment of $121,628.40 (including a total of $32,763.87 in interest plus $28,864.53 in interest accrued during the deferment period).

But: I will pay that off in 25 years, you say.

Without the interest capitalization there would have been 300 payments of $408.88 , for a total payment of $122,664.00 (including a total of $62,664.00 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 300 payments of $605.58 , for a total payment of $181,674.00 (including a total of $92,809.47 in interest plus $28,864.53 in interest accrued during the deferment period).

(Information grabbed from FinAid's calculator)

Costs not covered: Conferences, Moving Expenses, Emergencies,  Private loans if unable to find work, etc.

 

FWIW: The unsubsidized Graduate direct student loan rate was 6.6 percent in 2018-2019. There are no subsidized loans for Graduate Students.

Let's assume you decide to go to this unfunded program and take out a total of 60,000 for tuition and living expenses. Let's also assume that you can't afford to pay any of this loan back while in school because you're focused on writing great papers and developing deeper connections with your professors. You finish your 1-year program and take a gap year while working  at a new job and paying for applications.

After the deferment period of 12 months, the new loan balance is $64,059.09 , including $4,059.09 in accrued interest.

Let's suppose you manage to make interest-only payments during your gap year. You work hard;  save up money for grad applications and get accepted into a Ph.D. program. Your stipend isn't high enough to cover payments though so you defer.
 
After the deferment period of 72 months, the new loan balance is $88,864.53 , including $28,864.53 in accrued interest.
Without the interest capitalization there would have been 120 payments of $684.34 , for a total payment of $82,120.80 (including a total of $22,120.80 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 120 payments of $1,013.57 , for a total payment of $121,628.40 (including a total of $32,763.87 in interest plus $28,864.53 in interest accrued during the deferment period).

But: I will pay that off in 25 years, you say.

Without the interest capitalization there would have been 300 payments of $408.88 , for a total payment of $122,664.00 (including a total of $62,664.00 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 300 payments of $605.58 , for a total payment of $181,674.00 (including a total of $92,809.47 in interest plus $28,864.53 in interest accrued during the deferment period).

(Information grabbed from FinAid's calculator)

Costs not covered: Conferences, Moving Expenses, Emergencies,  Private loans if unable to find work, etc.

 

FWIW: The unsubsidized Graduate direct student loan rate was 6.6 percent in 2018-2019. There are no subsidized loans for Graduate Students.

Let's assume you decide to go to this unfunded program and take out a total of 60,000 for tuition and living expenses. Let's also assume that you can't afford to pay any of this loan back while in school because you're focused on writing great papers and developing deeper connections with your professors. You finish your 1-year program and take a gap year while working  at a new job and paying for applications.

After the deferment period of 12 months, the new loan balance is $64,059.09 , including $4,059.09 in accrued interest.

Let's suppose you manage to make interest-only payments during your gap year. You work hard;  save up money for grad applications and get accepted into a Ph.D. program. Your stipend isn't high enough to cover payments though so you defer.
 
After the deferment period of 72 months, the new loan balance is $88,864.53 , including $28,864.53 in accrued interest.
Without the interest capitalization there would have been 120 payments of $684.34 , for a total payment of $82,120.80 (including a total of $22,120.80 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 120 payments of $1,013.57 , for a total payment of $121,628.40 (including a total of $32,763.87 in interest plus $28,864.53 in interest accrued during the deferment period).

But: I will pay that off in 25 years, you say.

Without the interest capitalization there would have been 300 payments of $408.88 , for a total payment of $122,664.00 (including a total of $62,664.00 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 300 payments of $605.58 , for a total payment of $181,674.00 (including a total of $92,809.47 in interest plus $28,864.53 in interest accrued during the deferment period).

(Information grabbed from FinAid's calculator)

Costs not covered: Conferences, Moving Expenses, Emergencies,  Private loans if unable to find work, etc.

 

FWIW: The unsubsidized Graduate direct student loan rate was 6.6 percent in 2018-2019. There are no subsidized loans for Graduate Students.

Let's assume you decide to go to this unfunded program and take out a total of 60,000 for tuition and living expenses. Let's also assume that you can't afford to pay any of this loan back while in school because you're focused on writing great papers and developing deeper connections with your professors. You finish your 1-year program and take a gap year while working  at a new job and paying for applications.

After the deferment period of 12 months, the new loan balance is $64,059.09 , including $4,059.09 in accrued interest.

Let's suppose you manage to make interest-only payments during your gap year. You work hard;  save up money for grad applications and get accepted into a Ph.D. program. Your stipend isn't high enough to cover payments though so you defer.
 
After the deferment period of 72 months, the new loan balance is $88,864.53 , including $28,864.53 in accrued interest.
Without the interest capitalization there would have been 120 payments of $684.34 , for a total payment of $82,120.80 (including a total of $22,120.80 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 120 payments of $1,013.57 , for a total payment of $121,628.40 (including a total of $32,763.87 in interest plus $28,864.53 in interest accrued during the deferment period).

But: I will pay that off in 25 years, you say.

Without the interest capitalization there would have been 300 payments of $408.88 , for a total payment of $122,664.00 (including a total of $62,664.00 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 300 payments of $605.58 , for a total payment of $181,674.00 (including a total of $92,809.47 in interest plus $28,864.53 in interest accrued during the deferment period).

(Information grabbed from FinAid's calculator)

Costs not covered: Conferences, Moving Expenses, Emergencies,  Private loans if unable to find work, etc.

 

FWIW: The unsubsidized Graduate direct student loan rate was 6.6 percent in 2018-2019. There are no subsidized loans for Graduate Students.

Let's assume you decide to go to this unfunded program and take out a total of 60,000 for tuition and living expenses. Let's also assume that you can't afford to pay any of this loan back while in school because you're focused on writing great papers and developing deeper connections with your professors. You finish your 1-year program and take a gap year while working  at a new job and paying for applications.

After the deferment period of 12 months, the new loan balance is $64,059.09 , including $4,059.09 in accrued interest.

Let's suppose you manage to make interest-only payments during your gap year. You work hard;  save up money for grad applications and get accepted into a Ph.D. program. Your stipend isn't high enough to cover payments though so you defer.
 
After the deferment period of 72 months, the new loan balance is $88,864.53 , including $28,864.53 in accrued interest.
Without the interest capitalization there would have been 120 payments of $684.34 , for a total payment of $82,120.80 (including a total of $22,120.80 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 120 payments of $1,013.57 , for a total payment of $121,628.40 (including a total of $32,763.87 in interest plus $28,864.53 in interest accrued during the deferment period).

But: I will pay that off in 25 years, you say.

Without the interest capitalization there would have been 300 payments of $408.88 , for a total payment of $122,664.00 (including a total of $62,664.00 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 300 payments of $605.58 , for a total payment of $181,674.00 (including a total of $92,809.47 in interest plus $28,864.53 in interest accrued during the deferment period).

(Information grabbed from FinAid's calculator)

Costs not covered: Conferences, Moving Expenses, Emergencies,  Private loans if unable to find work, etc.

 

FWIW: The unsubsidized Graduate direct student loan rate was 6.6 percent in 2018-2019. There are no subsidized loans for Graduate Students.

Let's assume you decide to go to this unfunded program and take out a total of 60,000 for tuition and living expenses. Let's also assume that you can't afford to pay any of this loan back while in school because you're focused on writing great papers and developing deeper connections with your professors. You finish your 1-year program and take a gap year while working  at a new job and paying for applications.

After the deferment period of 12 months, the new loan balance is $64,059.09 , including $4,059.09 in accrued interest.

Let's suppose you manage to make interest-only payments during your gap year. You work hard;  save up money for grad applications and get accepted into a Ph.D. program. Your stipend isn't high enough to cover payments though so you defer.
 
After the deferment period of 72 months, the new loan balance is $88,864.53 , including $28,864.53 in accrued interest.
Without the interest capitalization there would have been 120 payments of $684.34 , for a total payment of $82,120.80 (including a total of $22,120.80 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 120 payments of $1,013.57 , for a total payment of $121,628.40 (including a total of $32,763.87 in interest plus $28,864.53 in interest accrued during the deferment period).

But: I will pay that off in 25 years, you say.

Without the interest capitalization there would have been 300 payments of $408.88 , for a total payment of $122,664.00 (including a total of $62,664.00 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 300 payments of $605.58 , for a total payment of $181,674.00 (including a total of $92,809.47 in interest plus $28,864.53 in interest accrued during the deferment period).

(Information grabbed from FinAid's calculator)

Costs not covered: Conferences, Moving Expenses, Emergencies,  Private loans if unable to find work, etc.

 

FWIW: The unsubsidized Graduate direct student loan rate was 6.6 percent in 2018-2019. There are no subsidized loans for Graduate Students.

Let's assume you decide to go to this unfunded program and take out a total of 60,000 for tuition and living expenses. Let's also assume that you can't afford to pay any of this loan back while in school because you're focused on writing great papers and developing deeper connections with your professors. You finish your 1-year program and take a gap year while working  at a new job and paying for applications.

After the deferment period of 12 months, the new loan balance is $64,059.09 , including $4,059.09 in accrued interest.

Let's suppose you manage to make interest-only payments during your gap year. You work hard;  save up money for grad applications and get accepted into a Ph.D. program. Your stipend isn't high enough to cover payments though so you defer.
 
After the deferment period of 72 months, the new loan balance is $88,864.53 , including $28,864.53 in accrued interest.
Without the interest capitalization there would have been 120 payments of $684.34 , for a total payment of $82,120.80 (including a total of $22,120.80 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 120 payments of $1,013.57 , for a total payment of $121,628.40 (including a total of $32,763.87 in interest plus $28,864.53 in interest accrued during the deferment period).

But: I will pay that off in 25 years, you say.

Without the interest capitalization there would have been 300 payments of $408.88 , for a total payment of $122,664.00 (including a total of $62,664.00 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 300 payments of $605.58 , for a total payment of $181,674.00 (including a total of $92,809.47 in interest plus $28,864.53 in interest accrued during the deferment period).

(Information grabbed from FinAid's calculator)

Costs not covered: Conferences, Moving Expenses, Emergencies,  Private loans if unable to find work, etc.

 

FWIW: The unsubsidized Graduate direct student loan rate was 6.6 percent in 2018-2019. There are no subsidized loans for Graduate Students.

Let's assume you decide to go to this unfunded program and take out a total of 60,000 for tuition and living expenses. Let's also assume that you can't afford to pay any of this loan back while in school because you're focused on writing great papers and developing deeper connections with your professors. You finish your 1-year program and take a gap year while working  at a new job and paying for applications.

After the deferment period of 12 months, the new loan balance is $64,059.09 , including $4,059.09 in accrued interest.

Let's suppose you manage to make interest-only payments during your gap year. You work hard;  save up money for grad applications and get accepted into a Ph.D. program. Your stipend isn't high enough to cover payments though so you defer.
 
After the deferment period of 72 months, the new loan balance is $88,864.53 , including $28,864.53 in accrued interest.
Without the interest capitalization there would have been 120 payments of $684.34 , for a total payment of $82,120.80 (including a total of $22,120.80 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 120 payments of $1,013.57 , for a total payment of $121,628.40 (including a total of $32,763.87 in interest plus $28,864.53 in interest accrued during the deferment period).

But: I will pay that off in 25 years, you say.

Without the interest capitalization there would have been 300 payments of $408.88 , for a total payment of $122,664.00 (including a total of $62,664.00 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 300 payments of $605.58 , for a total payment of $181,674.00 (including a total of $92,809.47 in interest plus $28,864.53 in interest accrued during the deferment period).

(Information grabbed from FinAid's calculator)

Costs not covered: Conferences, Moving Expenses, Emergencies,  Private loans if unable to find work, etc.

 

https://www.cfplist.com/ (Which was created by a member of this site)
 

FWIW: The unsubsidized Graduate direct student loan rate was 6.6 percent in 2018-2019. There are no subsidized loans for Graduate Students.

Let's assume you decide to go to this unfunded program and take out a total of 60,000 for tuition and living expenses. Let's also assume that you can't afford to pay any of this loan back while in school because you're focused on writing great papers and developing deeper connections with your professors. You finish your 1-year program and take a gap year while working  at a new job and paying for applications.

After the deferment period of 12 months, the new loan balance is $64,059.09 , including $4,059.09 in accrued interest.

Let's suppose you manage to make interest-only payments during your gap year. You work hard;  save up money for grad applications and get accepted into a Ph.D. program. Your stipend isn't high enough to cover payments though so you defer.
 
After the deferment period of 72 months, the new loan balance is $88,864.53 , including $28,864.53 in accrued interest.
Without the interest capitalization there would have been 120 payments of $684.34 , for a total payment of $82,120.80 (including a total of $22,120.80 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 120 payments of $1,013.57 , for a total payment of $121,628.40 (including a total of $32,763.87 in interest plus $28,864.53 in interest accrued during the deferment period).

But: I will pay that off in 25 years, you say.

Without the interest capitalization there would have been 300 payments of $408.88 , for a total payment of $122,664.00 (including a total of $62,664.00 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 300 payments of $605.58 , for a total payment of $181,674.00 (including a total of $92,809.47 in interest plus $28,864.53 in interest accrued during the deferment period).

(Information grabbed from FinAid's calculator)

Costs not covered: Conferences, Moving Expenses, Emergencies,  Private loans if unable to find work, etc.

 

FWIW: The unsubsidized Graduate direct student loan rate was 6.6 percent in 2018-2019. There are no subsidized loans for Graduate Students.

Let's assume you decide to go to this unfunded program and take out a total of 60,000 for tuition and living expenses. Let's also assume that you can't afford to pay any of this loan back while in school because you're focused on writing great papers and developing deeper connections with your professors. You finish your 1-year program and take a gap year while working  at a new job and paying for applications.

After the deferment period of 12 months, the new loan balance is $64,059.09 , including $4,059.09 in accrued interest.

Let's suppose you manage to make interest-only payments during your gap year. You work hard;  save up money for grad applications and get accepted into a Ph.D. program. Your stipend isn't high enough to cover payments though so you defer.
 
After the deferment period of 72 months, the new loan balance is $88,864.53 , including $28,864.53 in accrued interest.
Without the interest capitalization there would have been 120 payments of $684.34 , for a total payment of $82,120.80 (including a total of $22,120.80 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 120 payments of $1,013.57 , for a total payment of $121,628.40 (including a total of $32,763.87 in interest plus $28,864.53 in interest accrued during the deferment period).

But: I will pay that off in 25 years, you say.

Without the interest capitalization there would have been 300 payments of $408.88 , for a total payment of $122,664.00 (including a total of $62,664.00 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 300 payments of $605.58 , for a total payment of $181,674.00 (including a total of $92,809.47 in interest plus $28,864.53 in interest accrued during the deferment period).

(Information grabbed from FinAid's calculator)

Costs not covered: Conferences, Moving Expenses, Emergencies,  Private loans if unable to find work, etc.

 

FWIW: The unsubsidized Graduate direct student loan rate was 6.6 percent in 2018-2019. There are no subsidized loans for Graduate Students.

Let's assume you decide to go to this unfunded program and take out a total of 60,000 for tuition and living expenses. Let's also assume that you can't afford to pay any of this loan back while in school because you're focused on writing great papers and developing deeper connections with your professors. You finish your 1-year program and take a gap year while working  at a new job and paying for applications.

After the deferment period of 12 months, the new loan balance is $64,059.09 , including $4,059.09 in accrued interest.

Let's suppose you manage to make interest-only payments during your gap year. You work hard;  save up money for grad applications and get accepted into a Ph.D. program. Your stipend isn't high enough to cover payments though so you defer.
 
After the deferment period of 72 months, the new loan balance is $88,864.53 , including $28,864.53 in accrued interest.
Without the interest capitalization there would have been 120 payments of $684.34 , for a total payment of $82,120.80 (including a total of $22,120.80 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 120 payments of $1,013.57 , for a total payment of $121,628.40 (including a total of $32,763.87 in interest plus $28,864.53 in interest accrued during the deferment period).

But: I will pay that off in 25 years, you say.

Without the interest capitalization there would have been 300 payments of $408.88 , for a total payment of $122,664.00 (including a total of $62,664.00 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 300 payments of $605.58 , for a total payment of $181,674.00 (including a total of $92,809.47 in interest plus $28,864.53 in interest accrued during the deferment period).

(Information grabbed from FinAid's calculator)

Costs not covered: Conferences, Moving Expenses, Emergencies,  Private loans if unable to find work, etc.

 

FWIW: The unsubsidized Graduate direct student loan rate was 6.6 percent in 2018-2019. There are no subsidized loans for Graduate Students.

Let's assume you decide to go to this unfunded program and take out a total of 60,000 for tuition and living expenses. Let's also assume that you can't afford to pay any of this loan back while in school because you're focused on writing great papers and developing deeper connections with your professors. You finish your 1-year program and take a gap year while working  at a new job and paying for applications.

After the deferment period of 12 months, the new loan balance is $64,059.09 , including $4,059.09 in accrued interest.

Let's suppose you manage to make interest-only payments during your gap year. You work hard;  save up money for grad applications and get accepted into a Ph.D. program. Your stipend isn't high enough to cover payments though so you defer.
 
After the deferment period of 72 months, the new loan balance is $88,864.53 , including $28,864.53 in accrued interest.
Without the interest capitalization there would have been 120 payments of $684.34 , for a total payment of $82,120.80 (including a total of $22,120.80 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 120 payments of $1,013.57 , for a total payment of $121,628.40 (including a total of $32,763.87 in interest plus $28,864.53 in interest accrued during the deferment period).

But: I will pay that off in 25 years, you say.

Without the interest capitalization there would have been 300 payments of $408.88 , for a total payment of $122,664.00 (including a total of $62,664.00 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 300 payments of $605.58 , for a total payment of $181,674.00 (including a total of $92,809.47 in interest plus $28,864.53 in interest accrued during the deferment period).

(Information grabbed from FinAid's calculator)

Costs not covered: Conferences, Moving Expenses, Emergencies,  Private loans if unable to find work, etc.

 

FWIW: The unsubsidized Graduate direct student loan rate was 6.6 percent in 2018-2019. There are no subsidized loans for Graduate Students.

Let's assume you decide to go to this unfunded program and take out a total of 60,000 for tuition and living expenses. Let's also assume that you can't afford to pay any of this loan back while in school because you're focused on writing great papers and developing deeper connections with your professors. You finish your 1-year program and take a gap year while working  at a new job and paying for applications.

After the deferment period of 12 months, the new loan balance is $64,059.09 , including $4,059.09 in accrued interest.

Let's suppose you manage to make interest-only payments during your gap year. You work hard;  save up money for grad applications and get accepted into a Ph.D. program. Your stipend isn't high enough to cover payments though so you defer.
 
After the deferment period of 72 months, the new loan balance is $88,864.53 , including $28,864.53 in accrued interest.
Without the interest capitalization there would have been 120 payments of $684.34 , for a total payment of $82,120.80 (including a total of $22,120.80 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 120 payments of $1,013.57 , for a total payment of $121,628.40 (including a total of $32,763.87 in interest plus $28,864.53 in interest accrued during the deferment period).

But: I will pay that off in 25 years, you say.

Without the interest capitalization there would have been 300 payments of $408.88 , for a total payment of $122,664.00 (including a total of $62,664.00 in interest) plus an additional $23,760.00 in interest paid during the deferment period.
With the interest capitalization there are 300 payments of $605.58 , for a total payment of $181,674.00 (including a total of $92,809.47 in interest plus $28,864.53 in interest accrued during the deferment period).

(Information grabbed from FinAid's calculator)

Costs not covered: Conferences, Moving Expenses, Emergencies,  Private loans if unable to find work, etc.

 

https://www.cfplist.com/ (Which was created by a member of this site)