Assuming you're referring to Columbia, they give out around 20 full tuition and 50 half tuition scholarships each year.
Re: whether it's worth it for the loans--I have heard unanimously from all the Columbia j-school alum I've spoken to that going to the j-school helps you with networking above anything else. If Columbia barely gives you any money, and you already have a pretty solid network, or have several identified ways of getting your foot in the door, it might not be worth it. That's how I'm viewing it, anyways. But I've also heard that every person that's asked for more money from the j-school, has received more, even if only a little bit. So worth asking for more money either way.
completely personal issue, but I will be in a remote area/won't have service from the 14th until the 17th, so I am praying to god that they tell us before then.