<p>Hi - First post/first kid going to college. S received the financial award email today, (he was accepted to pharmacy with honor program) This is what they offered:</p>
<p>Fall 2011/each term</p>
<p>Dean's Scholarship $10,000.00
Northeastern University Grant $500.00
Federal Health Professions Loan $500.00
Federal Direct Unsubsidized Stafford Loan $1,000.00
Federal Direct Subsidized Stafford Loan $1,750.00
Federal Work-Study Program $750.00 </p>
<p>Subtotal$14,500.00</p>
<p>The money is under my expect. Could anyone estimate how much direct costs will be for each year (over 50k?) My fafsa for EFC is 12k, is this offer reasonable? can I ask school for more grant? </p>
<p>don’t forget that you also don’t pay tuition for the semesters you are on co-op! i got basically the same as you but more grant money. i assume that the aid may go up since i just sent in the fafsa though? maybe not. it’s my school :)</p>
<p>I got almost exactly the same awards as you, minus the health professions grant, and my efc was around 14k. Each year is something like 52k in just direct costs, probably depending on your specific meal plan and what type of housing you have, which leaves about 20-25k left out of pocket. </p>
<p>Unfortunately, I don’t know if my parents can afford almost double my efc.</p>
<p>since you don’t pay for semesters where you are on co-op, i think it is absolutely doable. for me at least. </p>
<p>let’s see, 18k in grants for four years and 8k in loans/work study = 26k “aid” for 2 semesters (a year). that’s 13k “aid” per semester </p>
<p>since neu is basically 54k a year, i’m expected to pay 14k per semester out of pocket (54/2=27… 27-13k=14k)…</p>
<p>14k*10 semesters (5 year) is 140k out of pocket. meaning, that’s how much i am expected to pay for five years at NU with my current aid package. </p>
<p>however, when you subtract the 3 semesters spent on co-op 14*3=42k, i save 42k! 140-42k is around 98k out of pocket for five years (19.6k a year/ 9.8k a semester)</p>
<p>however, i plan on getting an apartment at some point which will hopefully be less than room and board. this also doesn’t factor in the possibility of getting a paid co-op. also, i considered loans “aid” because i don’t have to pay them right away. also since law school’s in my future i should start saving now! </p>
<p>hope this helped… i’m not a math person so i may be wrong but this is just the way i think. paying for NU is not as scary as it sounds! :)</p>
<p>upcoming senior: you’re not taking into account the extra summer half semesters that you have to attend and pay for. At NU, you still attend school for a total of 8 full semesters. So add on another 14k to your total amount out of pocket, leaving you with about 22.5k a year out of pocket, as well as having to pay back those loans at some point after graduating.</p>
<p>Also, keep in mind that for your freshman year, and any year that you do 2 semesters in school in a row, you’re going to have to pay the full 28k. Don’t count on only having to come up with your 22k out of pocket on those years, that’s only the average cost per year.</p>
<p>Takes 8 semesters to graduate. 5 years of school is 10 semesters, but 3 of these will be spent on co-op. To make up for the lost semester, most students have to take summer courses.</p>
<p>So I was admitted to Northeastern with a what I thought to be a great financial aid package (until I did the number crunching). Basically, the total amount awarded for the year (in grants/loans) would be about 26k. 16k of that is a grant. The estimated COA is over 50k, and that leaves me with a tremendous gap to fill myself, especially when my parents are unable to contribute any more than maybe 12k a year – if i am lucky and if we are better off in the oncoming years than we are now, although, aid is subject to change if income increases. My question is… how do other students afford this? Is it realistic to assume I can juggle work as well as school to somehow manage to fill most of that gap of expenses? I am extremely frustrated. I am dying to attend… but at the same time, will I just end up killing myself over money if I do attend?</p>
<p>Also, I’d be willing to take out more loans… But there are no other loans being offered than what was in my package.</p>
<p>I got about half off the tuition for my package. So I’d still have to pay 25k outta pocket. That worries me since I’d end up with 100k+ in loans after college. I know they say its worth it but 100k is like a mortgage on a house. I dont know if I;m beat for that much debt after college. I dont know what to do because I love NU but thats soooo much money :(</p>
<p>I think that you received a great package. You never get the amount based on need. It’s an expensive school and there are plenty of people willing to pay. I find it amazing that they can raise the price and still be so selective. It’s the hottest school in Boston due to the Coop.</p>