Online or reapply?

[MadisonMachelle]

I got accepted to NYU and Emerson's online SLP programs recently but both are very expensive. Also, Emerson's program has clinical placements starting very soon (I work) and I'd have to take a pre-requisite that would put me back another $4k. I only applied to these two schools because I didn't have the GRE/letters of rec figured out before the CSDCAS deadline.

I was banking on financial aid to help me since I'm now considered an independent and got an Estimated Family Contribution (EFC) of $0. I submitted it sorta late, like mid April and added the two schools last week. 

I already have ~$60k of debt and don't want to go into any more. I have decent stats; 
151V, 149Q, 4.5W 3.84 cumulative, 3.75 department GPA and lots of experience with research/ABA.

Should I pick NYU/Emerson or should I reapply next year, pay off some loans and then choose?

Edited May 11, 2019 by MadisonMachelle

[waffles19]

I really feel for you and I'm sorry youre in this position! It would be worth applying again next round if you apply to much cheaper programs because if you decide to reapply and then go to a school that's 50K then that's one year that you could have been working for a regular salary lost and you're not really saving any money (you took out 25K less in loans but you lost 30K by not working one year with a full salary). Of course there's interest to be accounted for, whatever you'd make this coming year, and your cost of living situation but you get the point I'm making. Crunch the numbers and review your priorities. Also, I don't think people really get financial aid for these SLP programs the way people may get in UG (I've never heard of anyone getting any). I am also an independent with 0 family contribution and the only financial aid I'm getting is a GA position and I don't think I was given the position because of my financial situation. The rest is federal loans. It sucks!

I think 130 or 140K in debt is a lot on an SLP salary and would significantly impact quality of life. If I were you I would reapply next year to cheap state school (if there aren't any in your state then maybe consider moving to a near by state so you receive the in-state tuition?). It's such a tough decision good luck and sending good vibes your way! 

Edited May 11, 2019 by cakcak

[bibliophile222]

I got into NYU last year, but the financial aid notice hadn't come in yet by April 15th, so I declined and went with the sure thing (a partial scholarship at an in-person program). However, since it's already past April 15th and you added these schools to the FAFSA kind of late, I would wait as long as you can to see if some sort of financial aid package comes in. It's also good to keep in mind that most if not all grad school scholarships are not need-based but merit-based. If you don't get something from the school, you'll definitely get enough money to cover the full cost of attendance through FAFSA, but it will all be loans. If you don't get some sort of financial aid from either school it might be best to wait until next year and apply to some cheaper schools.