jlindsey Posted February 12, 2016 Share Posted February 12, 2016 So from what I have gathered through reading posts here and through several financial aid sites, federal unsubsidized loans come first with a cap of $20,500/yr. If that covers all tuition expenses, there is no need for the Grad PLUS loans. If the fed loans do not cover CoA, the Grad PLUS loans with cover the remainder. This seems to be the info I'm getting from all sources, and I'm fine with that. I've yet to receive an answer as to what people do for living expenses. There has to be another source of income or funding. When I spoke with the financial aid office, I was told that private lenders typically send the awarded amount to the school, but the school can decide how much of that I receive based on their budget. Can anyone offer some insight or suggestions? Link to comment Share on other sites More sharing options...
MT2PA Posted February 12, 2016 Share Posted February 12, 2016 COA includes tuition, fees, and living expenses. You don't HAVE to take out for living expenses if you don't need to (family/spouse/whatever your situation) but for those of us not working and with no other source of money, we use the PLUS loans. Your school should determine a COA that accounts for tuition as well as average cost of living for the area (rent/groceries/transportation/etc). Basically your options are federal loans (stafford + PLUS as needed) or private loans (bank) or you've got money in savings or are borrowing from family. Those are your options. When the school says 'they decide' they mean that if all your money comes from loans, they take what they need for tuition and fees and the rest will be sent to you for your living expenses. You just aren't going to be able to decide your own living expenses. If the school says you can live on $10,000/semester, that's the most you can get. Link to comment Share on other sites More sharing options...
jlindsey Posted February 13, 2016 Author Share Posted February 13, 2016 This is exactly what I needed to know. Thank you! Sent from my iPhone using Tapatalk Link to comment Share on other sites More sharing options...
gcanaday Posted March 5, 2016 Share Posted March 5, 2016 I have approx $60k in undergrad. My spouse and I have a large mortgage. I am holding back from going to PA school bc of finances. Yes, I want to gain the PA occupation and education, but don't want to give up what we have worked so hard for up until now by gaining my PA degree. Any ideas/suggestions? I should've done this 10 years ago!! Lol Link to comment Share on other sites More sharing options...
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