MFA 2012 All Art ADMISSIONS freak-out forum!!!!!!!!

[Mh31]

Oh my god - I GOT IN ! ! !

[to Yale]

yay.

Hey Song, abit late but congrats! I got into Yale aswell! Crazy times.

I'm waiting to hear about the amount of financial aid they give me before I accept their offer. I have talked to a couple of students regarding the financial aid and they have told me that it was good for them especially considering the course is so small.

Like you i'm an international student and was wondering if the aid I get will differ from home students? Have you started looking into accommodation. How soon should we start organising this sort of stuff? I can really only afford to go to Yale if they offer me adequate financial help, so I cant really look into this stuff until I hear from them.

P.S. Eschaton, i'm really sorry to hear that, I've seen your work and it looks really great. I hope it works out for you.

[Song]

Hey Song, abit late but congrats! I got into Yale aswell! Crazy times.

I'm waiting to hear about the amount of financial aid they give me before I accept their offer. I have talked to a couple of students regarding the financial aid and they have told me that it was good for them especially considering the course is so small.

Like you i'm an international student and was wondering if the aid I get will differ from home students? Have you started looking into accommodation. How soon should we start organising this sort of stuff? I can really only afford to go to Yale if they offer me adequate financial help, so I cant really look into this stuff until I hear from them.

P.S. Eschaton, i'm really sorry to hear that, I've seen your work and it looks really great. I hope it works out for you.

Oh hi, Congratulations! You're for the 2yr program as well? Indeed crazy times. I'm too waiting for the financial aid offer - and I also heard from current students that it was generous [no numbers though]. The thing is, I am a U.S citizen - I just grew up in another country. So I don't exactly know what the policy there is for internationals. I haven't started looking for housing yet - since until the financial info comes up I don't know for sure that I can afford it. Have you started? Anyway - I'll keep you updated! Hope we'll meet someday :-)

[Mh31]

Yeah the 2 year course.

I briefly looked into the accommodation information they sent us, but nothing thorough. I'm curious if there are many 1st year school of art people in dorms or if they get apartments/houses together.

Yes, definitely keep in touch, be good to meet eventually!

[miyamoto81]

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."

[Fool4nine]

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."

I'll bet your "awesome funding" offers from SUNY and Univ. of Iowa are looking better and better to ya.

Edited April 4, 2012 by Fool4nine

[miyamoto81]

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

[sali]

Same

any news?

[cxxxxxx]

Even if I was eligible this still wouldn't be enough!

[nicolas]

Was offered a spot today via email for MA Painting at the Royal College. They said they would let us know on the fourht, right on time. Just thought I'd post in case anyone else who applied to RCA was interested... Now to sort out funding ... 'No bursaries to international students'

[Eschaton]

P.S. Eschaton, i'm really sorry to hear that, I've seen your work and it looks really great. I hope it works out for you.

Thanks! I appreciate it. Congratulations on getting in!

Best,

E

[lzp]

Was offered a spot today via email for MA Painting at the Royal College. They said they would let us know on the fourht, right on time. Just thought I'd post in case anyone else who applied to RCA was interested... Now to sort out funding ... 'No bursaries to international students'

Just woke up to an e-mail offer from RCA Design Interactions!

nicolas -- are you planning on going? I told myself if I got in here I'd find a way to go!! Now onto that...

Edited April 4, 2012 by lzp

[ereid]

Nope, no status anymore. Who knows!

Same!

[OutWest]

Though this sucks a pretty big chunk of #%@^, keep in mind that previously, out of the 20,500 potentially available every year in Stafford Loans, the portion of that that was Subsidized (i.e., the interest that was accruing was covered by the government) was 8,500. The "only" thing we are losing out on for this year (it may change the following year) is this interest coverage...while this sucks (and shows the awesome commitment this country has for helping out its citizens...), this loss is not a show stopper. Can you imagine if they got rid of ALL Staffrod loans??? Yikes...

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."

[miyamoto81]

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.

Though this sucks a pretty big chunk of #%@^, keep in mind that previously, out of the 20,500 potentially available every year in Stafford Loans, the portion of that that was Subsidized (i.e., the interest that was accruing was covered by the government) was 8,500. The "only" thing we are losing out on for this year (it may change the following year) is this interest coverage...while this sucks (and shows the awesome commitment this country has for helping out its citizens...), this loss is not a show stopper. Can you imagine if they got rid of ALL Staffrod loans??? Yikes...

[minderbinder22]

Pretty sure it's 8500 out of the 20500 that can be subsidized. Not in addition to.

[miyamoto81]

*sigh*

Pretty sure it's 8500 out of the 20500 that can be subsidized. Not in addition to.

[ol'spice]

Though this sucks a pretty big chunk of #%@^, keep in mind that previously, out of the 20,500 potentially available every year in Stafford Loans, the portion of that that was Subsidized (i.e., the interest that was accruing was covered by the government) was 8,500. The "only" thing we are losing out on for this year (it may change the following year) is this interest coverage...while this sucks (and shows the awesome commitment this country has for helping out its citizens...), this loss is not a show stopper. Can you imagine if they got rid of ALL Staffrod loans??? Yikes...

Hmm Outwest,

thanks for trying to find something positive over the bad news...

Unfortunately there is more bad news, see below, from the FAFSA website, this is a paragraph or two below the announcement of end to the subsidized Stafford loan:

The U.S. Department of Education can no longer offer borrowers repayment incentives.

• Effective for loans first disbursed on or after July 1, 2012, the Department of Education is prohibited from offering any repayment incentives to Direct Loan borrowers, except interest rate reductions to borrowers who agree to have payments automatically electronically debited from their bank account).
  

[ebihal]

What were the repayment incentives that have been axed?

Hmm Outwest,

thanks for trying to find something positive over the bad news...

Unfortunately there is more bad news, see below, from the FAFSA website, this is a paragraph or two below the announcement of end to the subsidized Stafford loan:

The U.S. Department of Education can no longer offer borrowers repayment incentives.

• Effective for loans first disbursed on or after July 1, 2012, the Department of Education is prohibited from offering any repayment incentives to Direct Loan borrowers, except interest rate reductions to borrowers who agree to have payments automatically electronically debited from their bank account).
  

[miyamoto81]

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 . . .

[OutWest]

Hey there ol spice...Not sure what this is referring to? I'm not sure it has to do with the Stafford loans...Direct Loans sound different than Staffords (I'd have to look it up)???

Hmm Outwest,

thanks for trying to find something positive over the bad news...

Unfortunately there is more bad news, see below, from the FAFSA website, this is a paragraph or two below the announcement of end to the subsidized Stafford loan:

The U.S. Department of Education can no longer offer borrowers repayment incentives.

• Effective for loans first disbursed on or after July 1, 2012, the Department of Education is prohibited from offering any repayment incentives to Direct Loan borrowers, except interest rate reductions to borrowers who agree to have payments automatically electronically debited from their bank account).
  

Edited April 4, 2012 by OutWest

[OutWest]

The 8,500 that was subsidized was a PART of the 20,500 that is (potentially) allotted to Grad's, so the interest on the 8,500 (if you took that amount) will accrue while we are in school (instead of being covered by the government).

And, yes, the cap is that low That is why I have been harping and posting about well-funded programs on these Forums because having to take out private loans AT ALL is a financial nightmare.

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.

Edited April 4, 2012 by OutWest

[miyamoto81]

Hey there ol spice...Not sure what this is referring to? I'm not sure it has to do with the Stafford loans...Direct Loans sound different than Staffords (I'd have to look it up)???

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 (FAFSA^SM) 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

[ol'spice]

Hey there ol spice...Not sure what this is referring to? I'm not sure it has to do with the Stafford loans...Direct Loans sound different than Staffords (I'd have to look it up)???

I just spent 15 minutes on the phone with them (FAFSA) and got a "no answer" to my question (after the poor person put me on hold forever to ask her supervisor); and then after that I gave up; it's bad news regardless of what types of loans will be affected by this...

[Itsem]

The 8,500 that was subsidized was a PART of the 20,500 that is (potentially) allotted to Grad's, so the interest on the 8,500 (if you took that amount) will accrue while we are in school (instead of being covered by the government).

And, yes, the cap is that low That is why I have been harping and posting about well-funded programs on these Forums because having to take out private loans AT ALL is a financial nightmare.

Supposedly the money needed beyond the $20,500 can be borrowed under the Graduate PLUS loan, but this amount is decided by the school based on how much they state it cost to attend their school for a year. For example, with my financial offer from SFAI, they say it costs about $40,000 a year to attend. I was offered a $12,000 grant. So that now brings my total to $28,000 and the Unsubsidized loan is for $20,500, and i could get a Graduate PLUS loan for the remaining $7,500. This is a loan that is still through the Dept of Ed. but you have to have a good credit score to qualify for it. It also has a fixed interest rate of around 7% that does start accruing as soon as the loan is dispersed.

But this is where having a job during school can supplement most of the room and board cost, also. I personally haven't seen a stipend offered to anyone that would fully cover living expenses anyway. Retail is a good job to have since most are flexible with schedules, etc. I'm going to be transferring locations of my job where ever I go to school, otherwise I wouldn't be able to go.

[ten-of-swords]

And, yes, the cap is that low That is why I have been harping and posting about well-funded programs on these Forums because having to take out private loans AT ALL is a financial nightmare.

I took out around $14,000 in private loans for undergrad. Never again.