<p>While I am waiting for CMU’s financial aid offer, I just got my UVA offer. what do you guys make of it? </p>
<p>Accesses UVA scholarship: 6,230
Federal Perkins Loan: 3,500.00
Direct Subsidized Loan 1: 3,500.00
Direct Unsubsidized Loan 1: 2,000.00
Total offered: 15,230.00</p>
<p>So for an IS applicant is this a good deal?</p>
<p>That looks like a great offer. However, I am now even more confused. I guess I had the impression your family was full pay since I believe you said your parents said not to worry about the finances. If you are getting Access, I assume your family is not at all high income. Therefore, you really do need to look closely at CMU’s financial aid offer before you make your decison.</p>
<p>There is no guarantee that funding for federal loans for college will not be cut in future years. Therefore, I would take out the maximum allowed amount of subsidized federal loans (including Perkins) your first year. Hopefully, you then won’t need any loans your 3rd and 4th years.</p>
<p>This advice does not apply to unsubsidized loans, which should only be used if absolutely necessary.</p>
<p>charlieschm, He got an ACCESS grant. I believe the amount of loans he would have to take out is capped at a certain point. He might want to check the ACCESS info . We were full pay so am certainly no ACCESS expert, but I do recall hearing there was a cap on loans(that would be replaced by grants as you go along?). Anyway,I’m not 100% sure on that and could be wrong but I suggest the OP do some research so he is clear on what he is really being offered. Especially if he will be comparing that offer to private school offers.</p>