MFA - Paying for it

[thehamm99]

How does everyone intend on financing their MFA pursuits?

Loans?
Full ride?
Generous parents?
Savings?

100k seems like a lot to borrow. I'm having trouble wrapping my head around the logic of it...

 

[paulinnium]

Don't forget, if you apply for financial aid during your application process, most MFA programs will offer you a scholarship between 7.500$ and 15.000$ too.

this is also great advice! fill out your fafsa right now if you haven't. the longer you wait, the more financial aid will go to someone else.

 

[ColumbiaNYC]

For most schools (if not all of them) you have to fill out a form if you want to apply for scholarships. Then they check how many people applied for financial aid and try to split what they have as even as possible. In case of Columbia: If you apply for Financial Aid, you'll almost automatically get around 10k. I haven't heard of anyone getting less but that doesn't need to mean anything.
I guess I don't have to mention that there is still a big bill waiting for you.

 

[wannabe13]

Thanks. I applied for aid from Columbia, but didn't get any. I'm even more disappointed now that you say that everyone who asks automatically gets 10K. Big bill, yes, but 20K over 2 years amounts to over 50K in 20 years at 5% interest!

 

[ColumbiaNYC]

Thanks. I applied for aid from Columbia, but didn't get any. I'm even more disappointed now that you say that everyone who asks automatically gets 10K. Big bill, yes, but 20K over 2 years amounts to over 50K in 20 years at 5% interest!

The only explanation I have is that you didn't prove your financial needs.

 

[wannabe13]

Hmm. Eh, if I run out of cash I can always drop out.