Hi, Just got admitted to Stern and am very excited. I got a fraction of scholarship, and on the financial sheet, it listed subsidized loan, unsubsidized loan for small amounts and majority of the amount is from Federal Plus Loan. I do not understand if this means that my parents will need to borrow federal loans or to take it out of pocket. Can anyone explain this to me? Does Stern give any other kind of financial aid on need-base?
It means that your parents will have to come up with the money. If they don’t have it to take out of pocket, what other option is there besides taking the Plus loans?
@BelknapPoint Thanks for responding. I do not see much of other options. I am thinking about talking to the Financial office at Stern to see if they can raise the scholarship. But I am not sure if that would work.
Are you the student who also got accepted to Cornell with a better money offer?
@NJRoadie no I am not. I really want to go to Stern though.
Do you have an affordable option?
yes but it is not comparable regarding the field I want to study.
We don’t know your family’s finances. If paying their portion is a hardship- then don’t go to Stern. That’s an easy answer.
The more difficult answer is if they CAN pay it, they just don’t want to. That’s complicated.
But if the only way you are going to Stern is via a boatload of loans- time for plan B.