4.0/177 rejected from UVA

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Hattori Hanzo
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Re: 4.0/177 rejected from UVA

Postby Hattori Hanzo » Sun Jan 13, 2013 1:43 am

I am not sure if there is a fixed total debt allowed per year. From what I know, there is a limit to Stafford Loans, after which you can take out the balance up to total cost of attendance in GradPlus loans. So if they adjust the COA up to 88K in your example, the increase will be paid with GradPlus, which has no hard limit.

The numbers in the chart are the total for grants and scholarships. I think the schollys pushed the students over the limit. Two of my friends got $5-6K in scholarships each last year without much effort so it's definitely possible to pass the limit with those, esp. for URM/minority students. I wonder if they count programs like 3rd year tuition forgiveness towards that as well.

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sinfiery
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Re: 4.0/177 rejected from UVA

Postby sinfiery » Sun Jan 13, 2013 1:48 am

Hattori Hanzo wrote:I am not sure if there is a fixed total debt allowed per year. From what I know, there is a limit to Stafford Loans, after which you can take out the balance up to total cost of attendance in GradPlus loans. So if they adjust the COA up to 88K in your example, the increase will be paid with GradPlus, which has no hard limit.


Although possible, I just assumed HLS did not want students to end up with 200k+ debt and so would provide more need-based aid if the circumstances arose.
The numbers in the chart are the total for grants and scholarships. I think the schollys pushed the students over the limit. Two of my friends got $5-6K in scholarships each last year without much effort so it's definitely possible to pass the limit with those, esp. for URM/minority students. I wonder if they count programs like 3rd year tuition forgiveness towards that as well.


That seems like a much easier/better explanation. I'm gonna go with that from now on.

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dingbat
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Re: 4.0/177 rejected from UVA

Postby dingbat » Sun Jan 13, 2013 2:04 am

Hattori Hanzo wrote:The numbers in the chart are the total for grants and scholarships

What's the difference?

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Hattori Hanzo
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Re: 4.0/177 rejected from UVA

Postby Hattori Hanzo » Sun Jan 13, 2013 2:12 am

dingbat wrote:
Hattori Hanzo wrote:The numbers in the chart are the total for grants and scholarships

What's the difference?



Grants are calculated based on the same formula for every student and once they establish an amount in the first year, if your income doesn't change it'll remain the same. You don't have to do anything but be poor and ideally independent to max out on grants.

Scholarships are given out based on specific criteria and not everybody qualifies so it's by no means guaranteed. Also scholarships usually require some work, both before you get it (you should actively look for these as opposed to automatically receiving them like grants) and after (e.g. writing a paper).




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