<p>i dont kno exactly what ur ambissions are in life, but many if u are extremely bright, many masters programs also offer schloarships and/or aid, so research those also (even though they may change in 3 to 4 years), for financial based decisions, keep ur eyes open for oppurtunities in the future</p>
<p>Ok, from a kid's perspective. A kid who has done a little research and tried to open up the ears.</p>
<p>32k is a lot of money. A LOT. Sure, it won't kill you to take out 32k in loans in the long-run, but that's in the long run. In the meanwhile, which is a long meanwhile, you've got to worry about not spending money, how to save more, how to work more, what jobs to do, etc. This translates everywhere in your daily living. For example, when your friends go out, you may be wondering whether you can afford to eat with them; not going to the concert performed by your fav artist because of money, etc. Sure, everyone has to do this, but you hafta do it much much more when you have big loans. If you ask me, that's a long time of repaying and worrying. And in my opinion, it is not fun at all. </p>
<p>This said, you should obviously try to reduce your loan component as much as possible. Call fin aid offices when you're in a good, sober, joking mood. I am not sure though, that the last paragraph's rant is relevant. A subsidized loan isn't toooo bad. I myself might be taking out around 20-25k in loans.</p>
<p>PM me for my three colleges & their packages. We can trade fin aid info. ;-)</p>
<p>Itstoomuch, "tax free money" - that means scholarships aren't taxable income? Wasn't there some loophole in the whole fin aid process that allows students to be taxed? Work study, or working while in school (not work study)?</p>
<p>pertaining to grants and scholarships. </p>
<p>I tend to equate money to the numbers hours of labor inorder to get a NET amount of bucks. Thus a grant/scholarship means that neither kid or parents needs to work N number of hours to get X amount of GROSS dollars less Z taxes. Thus a $1000 grant equates to 100 hours of work @ $15/hr (2.5 standard work weeks) or $1500 gross wages less 30% in taxes.</p>
<p>Thus a $32000 grant/scholarship/1 yr = $48,000 gross. = 3,200work hours at $15/hr,= 400 days of labor. Think that I haven't added any interest costs if this had to be borrowed. </p>
<p>Get my meaning why I say kids need to realize that their grants represents more than just $$ and they should strive to be worthy of the money, and why their $$ could have gone to another person? </p>
<p>Just musing about scholarships at another philosophical level.</p>
<p>Cornell definitely claims to meet 100 percent of demonstrated need, so it's worthwhile writing to Cornell to see what they do in light of what Duke can do.</p>
<p>hoedown:
[quote]
A heads up to gphoenix--Bush is close to axing the Perkins program, although the schools who participate are lobbying hard to keep it. You may not have a Perkins in the future.
[/quote]
</p>
<p>I asked a FinAid counselor about the poss. demise of Perkins yesterday. She said the program is in no danger for students entering this fall. </p>
<p>If GWB persuades Congress to act in unseemly haste, the program <em>might</em> be gone by the next year.</p>
<p>However, Perkins loans are available only for fresh/soph years. If you're a fresh in Fall '05, you'd be ineligible for the program after your soph year, '06-07.</p>
<p>So, even if the program lives on, you can't count on aid from Perkins beyond your second year.</p>
<p>I hear ya, Lhasa. This sentiment has been whispered in my ear several times already. Politically, it makes me lean liberally... Anyways, I am merely content to know that I afford college for one year. I figure I'll just hafta deal with whatever comes as they come. I will still be eligible for subsizided Stafford...</p>
<p>All scholarship/grant monies in excess of the cost of tuition and books is considered taxable income to the student and you will get a form from your school stating this.</p>
<p>Including housing/board?</p>
<p>Scholarship money for housing and board is taxable income.</p>