MGH IHP DE NP 2020

TheNietzsche · Feb 19, 2020

Just now, swtowannabepsychnp said:
Did you have a lot of debt? I have some credit cards, mortgage and other student loans.

Yeah... tons of debt (unfortunately). AFAIK the only info they use from the report are the adverse events, they don't even look at total debt levels or the FICO score.

Found this info online, these are the only things that should prevent you from getting approved:

Is 90 or more days delinquent on any debt; or
Has been the subject of a default determination, bankruptcy discharge, foreclosure, repossession, tax lien, wage garnishment, or write-off of a debt under title IV of the Act during the five years preceding the date of the credit report.

I was worried about the same thing at the beginning so had already done some research on it. Hope this helps.

swtowannabepsychnp · Feb 19, 2020

@TheNietzscheThank you for your help!

swtowannabepsychnp · Feb 19, 2020

@TheNietzsche sorry forgot to ask! When do you find out if you were approved for the loan? Is it immediate or not until right before school starts?

TheNietzsche · Feb 21, 2020

On 2/19/2020 at 12:02 PM, swtowannabepsychnp said:
@TheNietzsche sorry forgot to ask! When do you find out if you were approved for the loan? Is it immediate or not until right before school starts?

You get a decision immediately. You can apply for the grad plus loan on studentloans.gov pretty early, I think it was available in late April or May last year. So I expect that the 2020-2021 application will be available around that same time.

pnambu615 · Feb 21, 2020

@TheNietzsche

The financial aid office just told me that they send out the award letters about a month and a half prior to the program starting. Was this true for you? I feel like that isn't enough time to plan in case they don't award much!

TheNietzsche · Feb 21, 2020

4 hours ago, pnambu615 said:
@TheNietzsche
The financial aid office just told me that they send out the award letters about a month and a half prior to the program starting. Was this true for you? I feel like that isn't enough time to plan in case they don't award much!

Yeah, the “official award” letter is sent around then, though I remember it being a little later. Your award letter with the PLUS loan will be the full cost of attendance (you can find this on the IHP site) minus whatever the FAFSA says your EFC is. And it will basically be loans, unless you get one of the scholarships. It will include the maximum amount for the Stafford loan and then everything else will be the Grad plus loan. If you get a scholarship then that will replace part of the loans.

So long as you are approved for the plus loan, the full amount should be on your award letter. Once approved for the PLUS loan the award letter is basically a formality, as you are guaranteed that loan up to the cost of attendance.

Hope this helps!

TheNietzsche · Feb 21, 2020

Also, I was worried about all of this well. It will all work out! ?

Ashley0509 · Feb 22, 2020

Did anyone here actually get a scholarship from MGH? I know that they are limited but they did have a couple listed.

ns15 · Feb 24, 2020

hey! did anyone apply mid Feb? I applied later and was curious if that’d mean most of the seats were taken up and filled. I know the deadline is March 1st so wasn’t sure how soon we would receive acceptance/rejection emails.

Kyl · Feb 25, 2020

4 hours ago, ns15 said:
hey! did anyone apply mid Feb? I applied later and was curious if that’d mean most of the seats were taken up and filled. I know the deadline is March 1st so wasn’t sure how soon we would receive acceptance/rejection emails.

Hey I also applied mid February. I have not heard back yet and I’m getting a bit nervous because it seems most people applied mid November and December. Have you heard anything yet?

ns15 · Feb 25, 2020

No I haven’t yet, i’m getting nervous! Fingers crossed!

njkt18 · Feb 25, 2020

I also applied in mid Feb but haven't heard anything yet! What specialty did you guys apply for?