miyamoto81

I should probably know more about this, being that I have so many of them, BUT: Direct Loans is the name of the federal loan program through the US DOE that lends out money (as well as through Sallie Mae) - as far as I know, the Stafford Lones are the two subsidized/unsubsidized that make up what Direct Loans lend out. Make sense? Here's some info from the Fafsa site: Direct Stafford Loans Direct Stafford Loans, from the William D. Ford Federal Direct Loan (Direct Loan) Program, are low-interest loans for eligible students to help cover the cost of higher education at a four-year college or university, community college, or trade, career, or technical school. Eligible students borrow directly from the U.S. Department of Education (the Department) at participating schools. Direct Stafford Loans include the following types of loans: Direct Subsidized Loans—Direct Subsidized Loans are for students with financial need. Your school will review the results of your Free Application for Federal Student Aid (FAFSASM) and determine the amount you can borrow. You are not charged interest while you’re in school at least half-time and during grace periods and deferment periods. Direct Unsubsidized Loans—You are not required to demonstrate financial need to receive a Direct Unsubsidized Loan. Like subsidized loans, your school will determine the amount you can borrow. Interest accrues (accumulates) on an unsubsidized loan from the time it’s first paid out. You can pay the interest while you are in school and during grace periods and deferment or forbearance periods, or you can allow it to accrue and be capitalized (that is, added to the principal amount of your loan). If you choose not to pay the interest as it accrues, this will increase the total amount you have to repay because you will be charged interest on a higher principal amount. http://studentaid.ed.gov/PORTALSWebApp/students/english/studentloans.jsp

Lol, I love how they say they are "prohibited from offering any repayment incentives to Direct Loan borrowers." That statement can have so many connotations to it . . .

*sigh*

So, just to clarify - the $8.5k of subsidized, that was taken away? Meaning that amount would have been in addition to the $20.5k of unsubsidized? I mean, if that's true, that $8.5k would have made the difference between whether I can go to certain programs that would have offered me SOME funding, but would have been a better advantage for location. That's almost 10 grand, it can go a long way. I don't know about anyone else, but I had no idea that there was such a low cap on loans for graduate students. Granted, part of that was the fact that I went to a relatively cheap undergrad institution so I never had a problem. But it just boggles my mind that just about all of the schools in the top 10 for MFA students would be unreachable to me, simply because of cost. I'm facing that problem with Cal Arts. Someone on this forum told me that I should come up with the money to go should I ever want to be a showing artist. Well, if anyone can tell me how to come up with 20+ grand (legally) before August, I'm all ears. It's probably my own fault for not researching it more, but I feel totally blindsided by the fact that I won't be able to take out more federal loans. And I've listed to too much Suze Orman to take out private loans. I agree with you that it could be worse, and I also agree that it shows the lack of commitment to higher education of this country. In a climate where undergrad degrees are about as good as an associates, it's amazing to me that there isn't more emphasis (and funding) for the training of people talented enough to get into these top programs - especially when it's only the elite few who actually are able to make a living off of it.

This is a great resource, thanks OutWest!

More so it makes me realize what a sham this whole process really is - and how geared it is towards those who are advantaged.

"GRADUATE STUDENTS: 2012-2013 Changes to the Federal Direct Subsidized Loan program. Due to federal regulatory changes for 2012-2013, the Federal Direct Subsidized Loan program for graduate students is eliminated, effective with loan periods starting on or after July 1, 2012. As a result, you are no longer eligible to receive Federal Direct Subsidized Loans. However, graduate students can still qualify for Federal Direct Unsubsidized Stafford Loans up to $20,500. Please visitGrad PLUS or Private Loans for other borrowing options for next year. In addition, the up-front interest rebate will no longer be offered on any Direct Loan first disbursed on or after July 1, 2012."

FML. "GRADUATE STUDENTS: 2012-2013 Changes to the Federal Direct Subsidized Loan program. Due to federal regulatory changes for 2012-2013, the Federal Direct Subsidized Loan program for graduate students is eliminated, effective with loan periods starting on or after July 1, 2012. As a result, you are no longer eligible to receive Federal Direct Subsidized Loans. However, graduate students can still qualify for Federal Direct Unsubsidized Stafford Loans up to $20,500. Please visitGrad PLUS or Private Loans for other borrowing options for next year. In addition, the up-front interest rebate will no longer be offered on any Direct Loan first disbursed on or after July 1, 2012."

Good luck, Fool4nine! That's a great program!

Sure as hell wasn't me. I'd better start looking into selling organs . . .

It's totally up to you - if it were me, and if I could afford to go to Hunter and afford to live in New York, that's where I would go, especially if I wanted to be a showing artist. If what you want to do is teach and make art for yourself and don't really care if you get representation right away, go to UMD.

Yeah . . . it's fairly ridiculous if you think about it.

Ha! I concur with that, my friend!

And might I just say that the amount of money it costs to go to some of these places is obscene. No wonder there is very little social mobility in this country.

Cal Arts just sent out their financial aid info . . . just a heads up.

Nope. I don't think anyone has. EDIT: Ha! I literally JUST got an email when I posted this. Now let's see what they're giving . . .

Hey Tysonr2! I think you should definitely email Anine - if not today, maybe some time this week. I mean, a. it would show that you're interested, and b. you are entitled to as much information as they will give. Maybe wait a few days, but I would encourage you to inquire before the end of the week. In all honesty, I think you might be the only person on this forum who I've heard of being waitlisted, so I can't imagine the list is that long. Regardless, good luck and keep us posted on how it goes!

Thanks for sharing that - very, very interesting.

And the deadline looms . . .

Here's my post from the other thread! "Thanks OutWest, that's an awesome list! I concur with all of the above - from my own experience, The University of Iowa also has potential for fantastic funding. Some of their fellowships offer a tuition waiver, great health care and an unbelievable stipend. Also, their TAships come with a pretty hefty stipend as well. SUNY Buffalo also has great funding opportunities, as you posted. And I am almost definite that Alfred gives ALL their MFA students a tuition waiver plus a $5k stipend, at least for this year. When I spoke to them, I had heard they were trying to raise it in the future, so who knows. Good luck to all the future generations out there! AND check out Montclair State - we've talked about it on this forum before, but I think that has potential to be an up and coming program, and I've heard of great funding coming out from them as well."

Thanks OutWest, that's an awesome list! I concur with all of the above - from my own experience, The University of Iowa also has potential for fantastic funding. Some of their fellowships offer a tuition waiver, great health care and an unbelievable stipend. Also, their TAships come with a pretty hefty stipend as well. SUNY Buffalo also has great funding opportunities, as you posted. And I am almost definite that Alfred gives ALL their MFA students a tuition waiver plus a $5k stipend, at least for this year. When I spoke to them, I had heard they were trying to raise it in the future, so who knows. Good luck to all the future generations out there! Edit: AND check out Montclair State - we've talked about it on this forum before, but I think that has potential to be an up and coming program, and I've heard of great funding coming out from them as well.

Congrats mlo - a great program!

I can relate to your predicament, as I'm in a somewhat similar situation. If I were you, I would consider the following in addition: location, studio quality, quality of graduate work, faculty and cost of living. Then combine everything and really think about where you would be happier in all regards. I would also look at where the graduates from each program end up when they are done - if you want to be a gallery ready artist and if a lot of WashU's grads end up in galleries eventually over LSU, that's something to consider. Though, WashU is definitely known for its printmaking - it might be interesting for you to explore printmaking as a way of idea process. I myself am very video/digital, but I use printmaking in that exact way. It might be a way for you to use the strengths of the program to your advantage. I will say though that there is something to be said about 3 year programs, and one in which you will receive great funding, combined with on the record teaching experience. I have a feeling that once you visit LSU and compare it to WashU you will have a much more clear feeling. It'll be one of those "follow your gut" things.

Which place do you think would be better for your work?

Hang in there Kazoo! You're on the wait list for two awesome places and maybe Tyler will come through for you! If your presence on this forum is any indication, you'd be a great addition to any grad program no matter where or when you attend one!