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  1. Hello! I was just curious how much student loans people here plan to take on/have already taken on for their MSWs? I'm trying to figure out how much is 'too much' and I wondered if anyone else is struggling with that right now? Personally, I applied this cycle and am currently debating between attending UIC more or less for free, or UChicago with roughly 45-50k in loans by graduation.
  2. I was accepted into an MA program at BU and was in touch with the financial aid department in the hopes of learning more about whatever loans I might qualify for. However, they explained they utilize an "active borrowing" model, meaning I will only find out what federal loans I qualify for after I enroll in classes, which I cannot do until closer to the start of the semester. I've never heard of this before and it makes me nervous. The last thing I want to do is take out private loans. Are there any BU Master's students who have navigated this? BU is so pricey that I can only go if my scholarship goes through anyway and now I feel even more unsure about committing to the program.
  3. Hello all, I'm an American student in my final year of university applying to graduate school. I have finally received all my decisions, but I'm having trouble understanding how to apply for loans and how to know what I've received. I'm starting to feel anxious because I've also applied to several schools outside of the country that I would really like to attend, but accommodation is starting to book up while I figure out my financial situation. I was expecting to receive at least some loans, but I was surprised to not receive anything. I would really appreciate your help in clarifying what's going on! Here's some more information about my situation: I took out both Direct Subsidized and Direct Unsubsidized loans all four years of my undergraduate studies. I filled out the FAFSA for 2021–2022 as an independent and indicated I would be continuing from my bachelor's to do a master's. My FAFSA was processed back in February, so all the schools I applied to should have seen it by now. My FAFSA Student Aid Report says "Based upon data provided by the National Student Loan Data System (NSLDS) and your grade level, we have determined that you may have received a total amount of undergraduate student loans that is close to or equal to the loan limits established for the federal loan programs. Therefore, your eligibility for additional student loans may be limited." I was very fortunate to receive merit scholarships from all the domestic schools I applied to. However, when I look at my aid packages on my acceptance portals, the only aid I see are my merit scholarships. No loans. Based on the above, I have a few questions: What's the "normal" timeline for aid in general? Is your financial aid package, complete with loans, supposed to come out at the same time as your admissions decision? My guess is that I've hit the threshold for Direct Subsidized and Direct Unsubsidized loans since I've already taken out those types of loans to support my undergraduate education. If this is true, what other federal loans am I eligible for to support my graduate education? It seems that I can apply for the Direct PLUS loan, but I'd like to confirm this. How do I handle the fact that the application for Direct PLUS loans doesn't come out until April? The schools I have offers from are requiring that I respond to their offers by April 1 or April 15, and I am concerned that the turnaround for the Direct PLUS loan application won't be quick enough before the offer reply deadlines. After applying for a Direct PLUS loan, what happens? Do I have to contact the financial aid department of each individual school to discuss my aid package? What's the best way to get in touch with financial aid departments for schools outside the country? I'd ideally like to call them, but their numbers are international numbers. If you've read this far, thank you so very much. I am the first in my family to go to graduate school and there is a lot that I am still figuring out!
  4. Hello. My student loans went into default last year and I’m applying for consolidation today. I know the fafsa deadline is June 30 and it takes 3 months for me to go into good standing in order to take out more student loans. my question is - should I apply for the fafsa right now and get denied for student loans? If so, would I be able to make changes to my fafsa once I’m in good standing and hopefully get approved for more student loans? or should I wait until I’m in good standing in 3 months then fill out the fafsa? thanks for the help!
  5. Hi guys! I am stoked to plan my future after being accepted into a graduate program, however I am getting a little nervous with the amount of loans I realistically have to take out. Personally, after completing my program I estimate to be in debt about 70k (including housing and other expenses not just tuition). Unfortunately I wasn't awarded any scholarships/grants. I am curious, is this typical? I hear other students say to stay away from expensive schools, where does 70k land on the scale? I was also accepted to another school that will probably cost me 35k-45k total, but it is not in an appealing location and I am not in love with the program. I'm wondering if people think it's worth sucking it up for the sake of student loan debt, or if a more expensive, desirable school is worth the cost. Thanks!!
  6. Im Seeking out loans for DACA students in the US. Preferably without the need for a cosigner. I've looked everywhere but have only found MPower Financing and that one isn't offering loans at the moment anyone who knows of places please advise. Or if you know how I can get a cosigner that may help as well. Please help this is the only chance I have.
  7. Hello everyone, I'm trying to figure out if/how I can defer my student loans while I complete my MA in another country. I have federal student loans from my time as an undergrad and I am now getting an MA in history in Turkey. I called the loan service to ask them what the criteria is for eligible universities, but they couldn't give me any useful information (they said just to send in the deferment request and see what happens). Does anyone here have experience with this? Thanks for any information you can provide.
  8. Hi, Wanted to share the new scholarship launched by GyanDhan: https://www.gyandhan.com/gd-scholarship As per the scholarship: How Does GyanDhan Scholarship Work? GyanDhan scholarship is a financial aid of a fixed amount which will be granted to students based on the merit and strength of the profile submitted. Who Can Apply? Students who fit in as per the below-mentioned criteria: Students who want to pursue a 2-year postgraduate course in the US, Canada, UK, Australia, Ireland, New Zealand & Germany. Students who are in the process of applying or have applied but have not yet received an admission letter can also apply for the scholarship. The student must be an Indian resident with an undergrad degree from an Indian institute. If the student is planning to take an education loan, the application for the same must start via Gyandhan in one of the partner lenders. Our partner lenders are SBI, BOB, Axis Bank, ICICI Bank, Avanse, Auxilo, Incred, Credila & MPower Financing.
  9. My apologies if this has already been addressed in another thread here. I'm interested in creative ways to help reduce student loan debt. I ended up taking about $20K to $25K more in loans than I expected due to several factors, a) the university dramatically increased student housing costs from the time of my admission to the time of my defense (up 48% in four years); b.) my family's health needs during my studies prevented me from taking a substantial part time job; and c.) there was no real economy where I attended anyway (e.g., only entry-level minimum wage jobs). Now, I'm looking at my own student debt and my wife's from her education and trying to figure out how to raise a family and pay off my loans on a single "humanities" income.
  10. Does anyone really know how loan forgiveness works? Is it only in certain states? Is it only loans through FAFSA? I have no idea how any of it works and am having trouble finding more information on it! If anyone has more knowledge on this topic I'd love to hear it I'm still waiting to hear back from all my schools (and am dying waiting) and am trying to be proactive with this and distract myself from the non-stop email checks I've been doing!
  11. Long story short, I just calculated the amount I would have to take out in loans for tuition alone assuming a small scholarship and it's over 30k. Add loans for living expenses to that, even assuming I'm incredibly frugal and my partner is helping to support me, and I feel like I'm looking at 50k in debt for this degree. Feeling really down especially seeing as I already have over 40k in debt from my useless undergrad. This is what I want to do with my life and I don't want to get discouraged, but damn. I thought I was being smart by waiting a year and trying to get in-state tuition, but $50,000 is no joke. Is anyone else out there struggling with the price tag before even being admitted?
  12. As an undergraduate, I became ineligible for federal aid due to maxing out my cumulative attempted credit hours (who knew starting college as a directionless 18 year old might be messy?) I'm thankful that my first graduate program acceptance letter came today, and that the program has offered full funding and stipend for the duration of my studies...but I will need to find a bit of extra aid to cover/refinance/push into deferment some higher interest debts that, while I can manage, will make my budget ultra-tight otherwise. My question is, does satisfactory academic progress (SAP - what the Fed uses to determine aid eligibility) reset as a graduate student/not carry over from undergrad?
  13. I have been accepted into the Security Policy Studies masters program at GW. They have only offered me $4k a semester in aid and I need much more help than that to be able to attend. My loans will only cover about $20k a year. Does anyone know of the best way to approach this? Should I write them and ask about more funding opportunities? Can I appeal for more money?
  14. I've recently been admitted to an MA program with an 20K stipend. I know this is generous for an MA program but I am trying to gauge my loan and student debt prospects. Anyone else with a similar stipend? Has anyone found any other ways to get funding? Has anyone managed to get scholarships that are separate from the particular university or department? Any jobs? Did you even need a loan?
  15. Hello! I am wondering how people usually pay for masters degrees if they are not supported with an assistantship or fellowship? Loans, financial aid through FAFSA, work, etc? Is working part time while pursuing a full time master's feasible?
  16. For this question, would graduate school count as college, or is that separate? If it's separate, would I just fill out "0" if nobody else in my household is pursuing a college degree? The question is: How many people in your household will be in college in 2017-2018?
  17. For a grad art program? I'm having the hardest time figuring out if I can apply anywhere for scholarships/grants for artist attending grad MFA programs? All of the so called organized websites to join and search from, give me SCAM like info. or nothing at all. How about ADHD? I'm Norwegian, Danish? I was born in MN? Over 45?
  18. One of the greatest things about Bio medical PhD programs, is the fact it is paid for, plus you get a stipend. Even so, I anticipate needing more than the stipend will provide. What advice is out there about taking out student loans (federal or private) or other ways of financing graduate education? I have done the standard google searches, so I am mostly looking for what people have experienced personally and what their recommendations are.
  19. Hi Wassup guys! Happy Friday or (or Happy Day)! I hope everyone is enjoying their day. Its acceptance letter season and I am so glad the applying stage is over. Even more happy that I got accepted into the Fordham, Columbia, and Hunter/Bank Street Program Although I am very excited about the prospects of attending any of these programs, I am leaning towards Columbia. However, I have concerns about the costs and loans. Is there a way to leverage my financial aid packages to lower the costs? Or any other approaches to help me lower the costs and loans? Please let me know very excited to start my career with the lowest amount of loans possible
  20. Anyone know the difference between the Federal Direct Unsubsidized Loan and the Fed Direct Grad PLUS Loan?? I've been researching and trying to understand the difference but I don't recall seeing much difference ?
  21. I posted this in the main section of grad cafe under "The Bank" but haven't gotten a response yet so posting here as well... I'm in the process of applying for unsubsidized stafford and grad plus loans. As part of that process I need to fill out a promissory note. I started that today, but noticed they ask for my employer's information. While I work full time now (in a different industry), I'm planning to quit at the end of the summer before I start school full time. My current employer does not know that... Does anyone know if they will contact my employer if I give their info? If they do contact them to verify my employment, will they tell them it's because I'm applying for student loans (assuming yes)? I wasn't planning to give notice until after my vacation at the end of July since my last day in the office would be right before labor day.
  22. What is the best way to pay for grad school without going too far into debt with loans? I don't have much saved up right now and still hav a couple thousand in loans from undergrad, and now I need to pay tuition and living expenses in a new state. That means plane tickets to come home, too. I'lll definitely get a job, but any sort of help or resources would be great!
  23. I'm in the process of applying for unsubsidized stafford and grad plus loans. As part of that process I need to fill out a promissory note. I started that today, but noticed they ask for my employer's information. While I work full time now (in a different industry), I'm planning to quit at the end of the summer before I start school full time. My current employer does not know that... Does anyone know if they will contact my employer if I give their info? If they do contact them to verify my employment, will they tell them it's because I'm applying for student loans (assuming yes)? I wasn't planning to give notice until after my vacation at the end of July since my last day in the office would be right before labor day.
  24. Hey! So I was just accepted to a Master's program, and they are giving 15k (plus insurance). It is conditional to me taking Microeconomics and getting a B or better, but I'm not too concerned with that. I just spent a few minutes calculating some things, and I need another set of eyes. Tuition & Fees: $25700 Housing (cheapest and an 8 minute drive away): $450 per month ($5400) Bills: $6900 *includes car payment, food ($150 per month), cell phone, and car insurance Living Expenses Total: $12300 I also have two education awards totaling 10k. So my calculated cost of attendance is 38k. Subtracting the fellowship and my ed awards it's 13k out of pocket. Does it make sense to take out 13-15k in graduate student loans to handle my day-to-day costs? Also, the school's calculated CoA is 46,633. Am I undershooting my costs? Apartments are kind of high in this area, but the apartments I'm looking at offer the cheapest and probably most convenient living arrangements. Thank you for you help. This is the best offer I've gotten so far.
  25. About how much student debt do you have and how do you plan to repay it? I'm at over 40K right now and my loans are due for a payment soon since I graduated some time ago now. I seriously can't afford these payments with all the other things I pay for. I feel like I'm stuck and I definitely don't want any lack of future payments since that would hurt my credit score. Anyone dealing with this and found some sort of solution or a way to help?
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