Mirrorical_Return
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Posts posted by Mirrorical_Return
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2 hours ago, radredhead said:
Ah, ok, I see the main issue with @Mirrorical_Return's scenario - he is assuming that the loans are coming from post July 1, 2014. If you are a new borrower from after this period, then yes it's possible you could get an IBR rate with a salary of ~45k. However, seeing as this is grad school, it's very likely a lot of people on this forum already have taken out loans for their undergraduate education, and therefore will not qualify in that hypothetical. I'm not sure if the "new" loans would be charged 226 & the old ones a non-IBR rate--making your monthly payment still much higher than quoted--or if consolidating all the loans into one gives you that post-July 1 2014 estimate. I consolidated my loans in 2015 and was still given IBR consideration based on the original date the loans were taken out, which took me out of qualification in my latest tax bracket. So, again, this is a question for the lender and not a message forum.
I am assuming that, yes, especially because it's 2016 and I'm mostly addressing new admits, due to the thread we're in.
I also addressed the issue of taking out federal loans as an undergrad in a previous post and how those who did not take out such loans are in a luckier position.
Once again, I'm sorry for your financial plight and anyone else in such a situation. -
As if I'd make up such a seemingly arbitrary number: http://www.aie.org/pay-for-college/manage-costs/find-out-if-you-qualify-for-income-based-repayment.cfm. Your situation is not typical and I imagine people are intelligent enough to figure out if it makes sense for them, based on their own individual circumstances. I'm sorry that you don't qualify but under the circumstances I initially listed, most people would.
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8 hours ago, radredhead said:
I make a salary within the range you quote and I no longer qualify for IBR. I am single with no dependents. I work for a non-profit (albeit not yet 10 years.) I'm not sure if you are also speaking from firsthand experience, but the fact is that this IBR is not a reliable plan and if you bank on it for getting you through your loans, you may put yourself in a very risky financial situation.
I don't have IBR but under the factors you provided, you should qualify and be paying around $226 a month, so there must be some uncommon factor that is keeping you from being approved. This is not the case for most people who are within this salary range.
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12 hours ago, radredhead said:
I'm sorry, but I REALLY disagree with this advice. From first hand experience coming from a low-income family (I did undergrad on the max. amount pell grant & other forms of aid,) banking on IBR and PAYE is not a fail-safe for your future. Your income tax bracket determines if you qualify for IBR, and if you get married & file jointly it will be an even lower threshold of income to qualify for this payment plan. Some private companies do not allow forbearance or deferment even in the event of unemployment. Graduated payment plans are only a temporary relief. The 10 year forgiveness for working at a non-profit requires consecutive payments. Qualifying for this is very uncommon and realistically, you will not be consistently employed for this period of time. It is also much more likely for government sectors than an "typical" non-profit. Student loans are real shit. They are not something to ignore now and figure out down the road. I would call your financial aid office and potential lender and get all the facts before trusting someone on a message forum, even me.
You're right. My paragraph completely assumes that you don't plan on marrying, like me, and you highly doubt your pay will rise above $60K within the next ten years. With a realistic salary being no more than $45K a year, you're paying no more than $250 a month and by working at a not-for-profit, which does cover organizations that are not necessarily federally funded, you end up paying back a fraction of your loan. But please, do talk to your financial aid advisor. They will be vague but at least they're professionals in this area, which I cannot claim to be. Also, I believe to qualify for PAYE, the better version of IBR, you would have to be taking out federal loans for the first time, which some people are lucky enough to qualify for.
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Oops, I guess I got a little defensive there. I just wanted to make sure that someone was there to put a more positive spin on the MA program. If you put yourself out there, it's absolutely worth attending. I think I can agree that if you're looking towards a PhD, with your eye on an eventual tenure track or something (*mild giggle* because the idea of getting a tenure track is a whole new level of needing to be competitive,) then it's somewhat unnecessary to choose IFA over a funded program.
IFA doesn't necessarily help your chances for getting into a PhD program in itself but it is helpful for getting work, fellowships, internships, you name it. I'll upvote to counteract the downvote!
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I attended IFA, NYU as an MA student.
They accept around 35% of applicants, including a sizeable degree of PhD rejects. There are about 40-45 MA students who attend per cohort, including the 6 conservation program admits, which have free tuition and a generous stipend, which is larger than most PhD stipends each year, and the 2-4 library science students who earn a dual degree with Long Island University.Yes, all unfunded MA programs are cash cows for PhD students and it's no surprise but that does not mean it's not worth attending this top tier program. This rings especially true if you're interested in museum work. If you are financially independent and by federal standards poor, you practically don't have to worry about your loan at all, especially for all the benefits you will gain attending this program. Through IBR and PAYE you'll be paying back the price of an expensive cellphone bill each month and if you work in non-profit upon graduating, your loan will be completely forgiven in ten years. On the flip side, if your family is forking over the money and your goals can be met by attending this program, by all means attend.
First of all, it’s clear upon the first day of classes that IFA thought very carefully about who they were accepting, even MAs. The concentrations in which people want to specialize are shockingly diverse. Furthermore, out of the 40 students, these students have very different goals. And keep in mind, at least 6 of them are going to take conservation jobs, 2-4 are interested in art libraries, and a surprising chunk are interested in art education.
Once you really narrow it down to your interests and who shares them, the competition suddenly seems less scary. You realize by attending IFA you are automatically THE national, if not international competition, in comparison with so many programs.
I never had trouble getting into a seminar or colloquium I applied to and neither did anyone in my cohort that I ever spoke to.
If you are passionate, well-versed in, and love what you do, you will get those internships, jobs, conference spots, and fellowships. I’m living proof. You’ll get some job e-mails from NYU every once in awhile looking for part-time professors, which are only reserved for PhD students but who cares? If you think you’re not the type of person to achieve these things, then spend some time with yourself and make sure you have the drive to stand out or that your interests are niche enough to make what you do truly worthwhile.
You can go to Stony Brook, Tufts, or UT Austin but good luck getting the networking opportunities and job offers that an IFA MA graduate gets.
- welshforjohn and radredhead
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Fall 2016 Applicants
in Art History
Posted
I just wanted to chime in and say that you'll realize very quickly if you're in a good networking situation or not. Unfortunately, this doesn't really click until you're within your first semester. You should think long and hard about what your goals are in this field. If you think you can reach these goals just as easily in a program beyond the top 10 ten, I wish you luck.