Financial Aid Questions for Graduate Studies?

I have a few specific questions regarding financial aid for graduate students (going for a PhD). I have already applied for assistantships and financial aid (FAFSA). However, I have scoured Yahoo Questions as well as the web in general and have not found what I am looking for. My first question is do first year graduate students typically get assistantships? Secondly, I have personal expenses that will need to be taken care of during my graduate studies, My concern is that I will not be able to take out a loan for these expenses. I understand that I can get Stafford loans as well as various PLUS loans, however these expenses are not considered directly involved with my education. Am I correct in assuming that I cannot use these funds for personal expenses? Thirdly, do assistantships affect the amount of money can borrow (ie Plus loans)? I know that I take out a Plus Loan for the cost of my education but can I take out a plus loan if I recieve and assistantship?

Financial Aid Questions for Graduate Studies?

Typically, a student can get an assistantship. Yes, they can be competitive. So, I hope you have outstanding GPA and writing skills; and possibly GRE scores. You will normally be paid through a grant program that is set up for this program. In addition, the stipulations can vary from school to school. For instance, one school may opt to pay for your tuition in place of your services, while another school might give you a check every two weeks. You will have to talk to the graduate department head for details. If you decide to approach him/her, please dress professionally. (You probably will.)

If you are accepted into an assistantship position and they give you a grant, that will be subtracted from your cost of attendance along with your efc. The remaining will be your difference. Loans, scholarships, and work study will/can fill in the gap.

Loans, like the subsidize and unsubsidized and cover to a point. The plus loans can cover to the cost of attendance. Therefore, if you need additional outside the aid available you, you can use this and others for anything additional. Please reminder, you will need a good budget b/c loans are no joke.

Financial Aid Questions for Graduate Studies?

To answer your first question that would be best asked at the school you attend. I have a friend who received an assistanceship her first year in grad school so it is possible but depending on the number of applicants and possitions that vary from school to school some schools may give them to more advanced students. Some personal expenses are covered in the Cost of Attendance at a school and you can borrow up to this cost of attendance. As a grad student using the FAFSA you will only be eligible for Stafford Loans (18500 for the year) and a gradPLUS loan up to the cost of attendance. If you do receive an assistanctship it will most likely figure into the cost of attendance calculation limiting the amount you can borrow but it may just count tuition reductions and not earnings.

Financial Aid Questions for Graduate Studies?

I am a current graduate student and I have learned that graduate school will hardly ever assist in financial aid, however, if they do, it'll be a mere $100-$200 a semester. Also, I do believe you can use loans to pay for expenses, I know people who have done it, there are even scholarships that will allow for this.

Good luck.

Financial Aid Questions for Graduate Studies?

GOOD LUCK.....!