<p>I know that I saw a thread about this some time ago. I would like to know how it works when you have one child in an undergraduate program, and another in graduate school. For financial aid, does the parent's income play a role in graduate school? How much money can one borrow for graduate school (government loans)?</p>
<p>IN my case, one D is going to be attending a public for grad school...in checking detials, my info could be used for residency, if helpful, but was not required. My info is not required at all on FAFSA nor for fin aid.</p>
<p>My younger D at a public can include grad D on her FAFSA # and they will accept that as one more in college (CA) but I know when D was considering UVA and I asked this question, they do NOT include grad students, so it is UG school specific, in my experience.</p>
<p>Grad loans are different for various programs, the stafford subsidized are capped at $8500, total at $18500 a year..more for med school etc.</p>
<p>Parent info for grad school seems to be considered for professional schools- med/law/mba though not so much for humanities, etc.</p>
<p>somemom, Is that 8500/year? My son is thinking about a path that involves 1.5 years of graduate school after getting a BS. If grad school runs 35,000/year (OOS public), does this mean that I would need to pay 26500 for him, and pay for undergraduate school for younger one? That would be financially impossible. So, how would it work? His degree without the masters, for the degree he is proposing to me would be nearly worthless in the job market. He cannot go into debt for over 50,000 b/c he would be going into a public service job where the salary is low.</p>
<p>grad schools loan limits are increasing for 2007-2008 from a maximum of $18,500 per year to $20,500.</p>
<p>You may want to check around because there are many Private 4 year LAC's who have "specialty" MBA degree programs which are considerably less than the average traditional MBA program. I know students enrolled in our adult-centered MBA program usually pay no more than $18k for their entire MBA degree (approx. 23 months long but only 1 course at a time). Also, some Institutions have reasonably priced Masters programs...our traditional program students can't even qualify for the entire 18,500 each year as their total COA is less than that.</p>
<p>Nikki, Thanks. My kid is thinking of a service job where it would be insane to go into this kind of debt. I asking him to think of majoring in something else in undergrad, so he can come back instate for grad, or to just transfer now (if he continues to choose this path). Besides, I could not come up with 15,000/year while I paid for my younger kid for his undergrad school.</p>
<p>8500 is the max per year for SUBSIDIZED stafford, where the govt pays the interest while you're in school, unsubsidized stafford goes up to 18500 total plus more for professional schools........so whichever way you look at it, it is likely loans for an MBA- or else work for a while to save up some living expenses.</p>
<p>My D is working FT over the summer and beginning now (her last UG class will last through June, but she is doing it from home) paying no rent, saving her money (hopefully) to pay her grad school living expenses in the fall</p>
<p>Thank you. I just investigated further. I told my son to get his BS, and then go onto graduate school instate (it won't matter where he goes for his major). The cost instate is 1/2of what the cost would be OOS (not to mention free rent with us). If the OOS public wants some OOS students, then they would need to kick in a whole bunch of money, which I am sure that they won't do. I will call the financial aid office just to double check, but I assume that it will be all loans and/work-study. I don't see a need to spend 800 per credit, when we can pay 400 per credit instate.</p>