I have been recentyl accepted by UPENN- PennDesign for M.arch (post-professional). Being an international student, I am REALLY desperate to get aids or grants.
Just to tuition fee itself being 40k, my family cannot support me at all. Just one down-payment of 40k will just crush my family.
I have already heard that it is really difficult for international students to get financial aid or grants, but loans. I cannot even get a job at the school. Finding a cosigner for a loan is yet another pain.
Darn it. So lost. Panicking. It does not make any sense to just give up Ivy's offer because I do not have sufficient money.
I was reading a newspaper this morning and it said universities in the states and australia are now more keen to accept international students to overcome this financial cirsis. So depressing after jumping around for being accepted. Just complaining really... no offence...
Any advices? would a loan be the only possible way for international students? Anyone who has experienced the same problem? any better ideas or solutions? Please help me.
hey congrats!! and don't panick, there are many others in your situation. i was accepted at Penn a few years ago and was in that same boat - international student, the financial aid was a mere $4,800, and the cost way above my means. what's different in your case is that your program is much shorter (1 year, right?). i had applied for the 3 year M. Arch. program, so the figures i was looking at were way too high.
i know it's a bit depressing when you realize that these schools are not inaccessible because of your intellect, but because of your financial means. it is really up to you whether or not you think it's worth it. i know loans are possible for international students, but you need a US co-signer. you might be able to find one that doesn't require that, but i can't give you advice in that area. it's worth mentioning that the interest rate for a private loan can be high, and the interest will accrue during your program of study.
May sound a bit private, but was your March loan (if you had any) worthy? I am sure Upenn would lead you to a better place after graduating and provide more opportunities, but based on your experience, do you personally think Upenn gave you better options than other good state schools you have mentioned above.
Man, it does sound rude. But I am just curious to know how much loyalty does Upenn have over other state schools in the states. (being a foreigner, I really like to hear honest opinions) Indeed the fact that Upenn is Ivy and Ivy the name itself carries that much value, but I want to know what it is like in a real world.
random questions, but I hope you could answer it for me.
If I were you I would run like hell and pursue other opportunities. That said, if you are going to the Open House next Monday then I will see you there! I have already decided to attend another school, but will enjoy the show. You really should visit Philadelphia and the program if you aren't familiar, the Ivy-brand is definitely not a guarantee of greatness.
Do you guys think 1 year of M.arch (post-professional) at Upenn would be a lot different from the same program in other schools? i.e. pratt (1,1/2 years) and yale (2 years)
I don't know international student is eligible for a 40k loan, even with a co-signer.
worth it? it really depends on your own financial situation and your ability. For some ppl, ivy degree is a spring board for a successful architectural career, even a practice of your own in your home country. For some ppl, it's not worth it.
For myself, I spent 30k for my M.Arch degree and have made it even after working three years. I've rant about the low pay and instability of the profession, but I've never regretted it. It's not just a degree, it's a window that opens a new world.
When you are in the market to buy a car, do you look at volkswagons, buicks, chevys and hondas or do you look at ferraris, lamborghinis and everything else you really shouldn't be sitting in?
For the most part I think a post prof degree it's a luxury and not an investment. Maybe that's a better way to put it than comparing degrees with cars, and who knows, might simplify the choice for some.
IJ, it might be a long shot, but there might be a few gov't exchange programs that could help, Fulbright scholarships being one example. Maybe check the website of the US embassy in your country? They may have links to other programs. Also, I've heard of some countries that will offer to help fund their citizens studying abroad- I've known a few Spanish citizens who have studied in NY with help from their country...
sounds like your best hope is a mix of loans and grants
If you dont already have enough grants or scholarships, I dont think you will be able to cover it all now
But it should be possible to cover some of it and lessen your loans
I kind of agree with model.bot though
If an Ivy just basically offers you admission and nothing more, no other financial help, I dont know how worth it that is really
if i were you, before anything, i'd try to figure out what the loan situation is right now. are there banks giving out loans to international students currently? citi used to hand out loans easily with a co-signer, but that was a few years ago. what is the interest rate? do you have anyone who could be a co-signer? big questions. try to figure this out to see what you're exactly considering.
Just out of curiousity: did anyone on Archinect actually have a co-signer for a loan, and if so, was the co-signer a member of your immediate family or someone else like an employer?
I guess I find it very hard to believe that someone who wasn't a blood relative would be willing to co-sign a loan for someone to go to grad school, and even then I think a lot of relatives would be hesitant to co-sign on a $40K loan
yes, I had a co-signer, not a blood relative, not even friend, just someone who decided they could afford the risk to help me. We are from the same country and met through some mutual friends, I didn't even ask for help because I was ready to give up by then.
I will be forever grateful to these people, they gave me a chance to a new life.
And just to know what it means, co-signers end up footing the bill in 25% of cases, or so I read somewhere.
I didn't borrow that much, about 25k (this was for undergrad) and later on, a combination of paying back and transferring a bit of the remaining balance, I was able to relieve my co-signers of any obligation they had to the bank. That is to say I don't have any educational debt now, just credit debt.
Loans are pretty much the only way to go for almost every student, international or not. Just be happy it's only 1 year. 40k in loans is nothing for Ivy league schools, and isn't that much more than average loans for a Bachelor's degree.
Apr 9, 10 4:13 pm ·
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financial aid crisis
I have been recentyl accepted by UPENN- PennDesign for M.arch (post-professional). Being an international student, I am REALLY desperate to get aids or grants.
Just to tuition fee itself being 40k, my family cannot support me at all. Just one down-payment of 40k will just crush my family.
I have already heard that it is really difficult for international students to get financial aid or grants, but loans. I cannot even get a job at the school. Finding a cosigner for a loan is yet another pain.
Darn it. So lost. Panicking. It does not make any sense to just give up Ivy's offer because I do not have sufficient money.
I was reading a newspaper this morning and it said universities in the states and australia are now more keen to accept international students to overcome this financial cirsis. So depressing after jumping around for being accepted. Just complaining really... no offence...
Any advices? would a loan be the only possible way for international students? Anyone who has experienced the same problem? any better ideas or solutions? Please help me.
hey congrats!! and don't panick, there are many others in your situation. i was accepted at Penn a few years ago and was in that same boat - international student, the financial aid was a mere $4,800, and the cost way above my means. what's different in your case is that your program is much shorter (1 year, right?). i had applied for the 3 year M. Arch. program, so the figures i was looking at were way too high.
i know it's a bit depressing when you realize that these schools are not inaccessible because of your intellect, but because of your financial means. it is really up to you whether or not you think it's worth it. i know loans are possible for international students, but you need a US co-signer. you might be able to find one that doesn't require that, but i can't give you advice in that area. it's worth mentioning that the interest rate for a private loan can be high, and the interest will accrue during your program of study.
here's a good thread on the topic of student debt: http://www.archinect.com/forum/threads.php?id=97217_0_42_0_C
also, keep in mind there are some really good state schools that are much cheaper than Ivies.
good luck!!
Thx dmc.
May sound a bit private, but was your March loan (if you had any) worthy? I am sure Upenn would lead you to a better place after graduating and provide more opportunities, but based on your experience, do you personally think Upenn gave you better options than other good state schools you have mentioned above.
Man, it does sound rude. But I am just curious to know how much loyalty does Upenn have over other state schools in the states. (being a foreigner, I really like to hear honest opinions) Indeed the fact that Upenn is Ivy and Ivy the name itself carries that much value, but I want to know what it is like in a real world.
random questions, but I hope you could answer it for me.
This has been discussed hundreds (thousands, millions?) of times here in different threads, especially recently. Check out :
* - Is Graduate School worth the Debt?
* - UPENN Vs. State School
* - And of course, the Commiseration thread
If I were you I would run like hell and pursue other opportunities. That said, if you are going to the Open House next Monday then I will see you there! I have already decided to attend another school, but will enjoy the show. You really should visit Philadelphia and the program if you aren't familiar, the Ivy-brand is definitely not a guarantee of greatness.
Good luck!
and of course this may be more applicable
http://www.archinect.com/forum/threads.php?id=97342_0_42_0_C
Do you guys think 1 year of M.arch (post-professional) at Upenn would be a lot different from the same program in other schools? i.e. pratt (1,1/2 years) and yale (2 years)
I don't know international student is eligible for a 40k loan, even with a co-signer.
worth it? it really depends on your own financial situation and your ability. For some ppl, ivy degree is a spring board for a successful architectural career, even a practice of your own in your home country. For some ppl, it's not worth it.
For myself, I spent 30k for my M.Arch degree and have made it even after working three years. I've rant about the low pay and instability of the profession, but I've never regretted it. It's not just a degree, it's a window that opens a new world.
good luck.
When you are in the market to buy a car, do you look at volkswagons, buicks, chevys and hondas or do you look at ferraris, lamborghinis and everything else you really shouldn't be sitting in?
For the most part I think a post prof degree it's a luxury and not an investment. Maybe that's a better way to put it than comparing degrees with cars, and who knows, might simplify the choice for some.
IJ, it might be a long shot, but there might be a few gov't exchange programs that could help, Fulbright scholarships being one example. Maybe check the website of the US embassy in your country? They may have links to other programs. Also, I've heard of some countries that will offer to help fund their citizens studying abroad- I've known a few Spanish citizens who have studied in NY with help from their country...
Actually, it makes perfect sense.
@model.bot / come on.. there must be ways.. give me some hope.
sounds like your best hope is a mix of loans and grants
If you dont already have enough grants or scholarships, I dont think you will be able to cover it all now
But it should be possible to cover some of it and lessen your loans
I kind of agree with model.bot though
If an Ivy just basically offers you admission and nothing more, no other financial help, I dont know how worth it that is really
if i were you, before anything, i'd try to figure out what the loan situation is right now. are there banks giving out loans to international students currently? citi used to hand out loans easily with a co-signer, but that was a few years ago. what is the interest rate? do you have anyone who could be a co-signer? big questions. try to figure this out to see what you're exactly considering.
Just out of curiousity: did anyone on Archinect actually have a co-signer for a loan, and if so, was the co-signer a member of your immediate family or someone else like an employer?
I guess I find it very hard to believe that someone who wasn't a blood relative would be willing to co-sign a loan for someone to go to grad school, and even then I think a lot of relatives would be hesitant to co-sign on a $40K loan
yes, I had a co-signer, not a blood relative, not even friend, just someone who decided they could afford the risk to help me. We are from the same country and met through some mutual friends, I didn't even ask for help because I was ready to give up by then.
I will be forever grateful to these people, they gave me a chance to a new life.
And just to know what it means, co-signers end up footing the bill in 25% of cases, or so I read somewhere.
I didn't borrow that much, about 25k (this was for undergrad) and later on, a combination of paying back and transferring a bit of the remaining balance, I was able to relieve my co-signers of any obligation they had to the bank. That is to say I don't have any educational debt now, just credit debt.
Loans are pretty much the only way to go for almost every student, international or not. Just be happy it's only 1 year. 40k in loans is nothing for Ivy league schools, and isn't that much more than average loans for a Bachelor's degree.
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