Funding an MA

Graduate School
1

<p>Okay, so I just filled out my FAFSA, and got an EFC of $13K or so. This is way different from undergrad, where my EFC was like…$5. So, my questions are:</p>

<li><p>I’m still waiting on KSG, SAIS, and SIPA. My current #1 is IR/PS, #2 is LSE IR. IR/PS, as a CA resident, is uber-cheap. How much more are the others worth to me, financially?</p></li>
<li><p>Still working on outside funding. Where else should I look for moola?</p></li>
<li><p>Since this MA is probably my “stepping stone” to a PhD, how much should I really think about paying anyway?</p></li>
</ol>

2

<p>Holy cow, even though as a grad student they don't consider your parents' assets?</p>

<p>I always thought that grad students would also get an EFC of approximately $5, since they're paying for it on their own.</p>

3

<p>Yeah, so did I! I made well under $50K last year, too (around $40K to be exact). This sucks.</p>

<p>Any other grad students have any suggestions?</p>

4

<p>I'm in the same boat here. My EFC was about $17K though. I was wondering how accurate the FAFSA could be though since it's going by my tax info for last year when I won't even be working full-time while attending grad school this year.</p>

5

<p>I don't get that either... (EFC based upon last years earnings)</p>

<p>The only way I see the relevance is investment and savings, but that money won't be available while in grad school.</p>

<p>I read the FAFSA, which said to contact the school directly concerning changes in income, etc. It's up to the particular financial aid offices to fund you accordingly.</p>

6

<p>What Latoya said is very important. We notified the financial aid office at my university and they gave me more grant money, work/study and subsidized loans. My mother lost 30% of her income.</p>

7

<p>Okay...just spoke to someone in Financial Aid at NYU. She said that the tax information shouldn't cause a problem in how much aid we receive b/c it's going to mostly apply for the Federal Stafford Loan and applicable scholarships. She said that if a student doesn't receive the max for the FSL (which is $8500 for graduate students if you're attending full-time), you can contact the Financial Aid office for a review of the FAFSA in order to get your amount of income lowered so you can qualify for the max of the FS Loan.</p>

8

<p>The max amount of Stafford Loans is $18,500 per year and you will receive that no matter how much your EFC is. What your EFC will determine is what portion of the $18,500 is subsidized (only a max of $8000 can be subsidized loans per year).</p>