Is funding a sure thing?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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johmica
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Joined: Thu May 17, 2012 7:01 am

Is funding a sure thing?

Postby johmica » Sat Jan 05, 2013 4:13 pm

I'm a non-traditional applicant, planning to matriculate in 2014, the semester after my wife completes her undergraduate degree. My reach school is the University of Chicago, but I've been researching cost of living expenses, and man, did I suffer sticker-shock.

I'm hoping to get a bit of scholarship money, but especially given UChi's history, I'm also expecting to have to borrow substantially. I'm ok with this; I certainly feel like the education is worth the cost, and my prospects upon completion of the program will ensure my ability to, in the very least, make my monthly loan payments without undo duress. But my question is, are those funds available to students?

The university estimates an annual financial need of $70,000. Worse case scenario, how likely is it that, if accepted with no financial assistance, I will have access to $210,000 worth of loans over three years?

Thanks in advance for any insights.


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dextermorgan
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Re: Is funding a sure thing?

Postby dextermorgan » Sat Jan 05, 2013 4:16 pm

If you have no negative accounts on your credit history then yes, you are allowed to take loans up to the full cost of attendance (doesn't mean you should, but whatevs).

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johmica
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Re: Is funding a sure thing?

Postby johmica » Sat Jan 05, 2013 4:35 pm

Great to know.

doglover0702
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Joined: Tue Dec 04, 2012 11:27 pm

Re: Is funding a sure thing?

Postby doglover0702 » Sat Feb 23, 2013 1:15 pm

dextermorgan wrote:If you have no negative accounts on your credit history then yes, you are allowed to take loans up to the full cost of attendance (doesn't mean you should, but whatevs).


Negative accounts, as in current lines of credit? Or just bad credit (missed payments, etc.)?

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sublime
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Re: Is funding a sure thing?

Postby sublime » Sun Mar 10, 2013 1:24 pm

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