Advice on federal loans for grad school
Hello, I will be attending the University of Denver’s Forensic Psychology Master’s program, starting this summer and plan to eventually pursue a PsyD or PhD. As a first-generation student navigating student loans for the first time, I would love feedback on the best way to approach it.
Currently, I’ve been offered both the Federal Direct Unsubsidized Loan ($20,500 annual limit) and the Grad PLUS Loan. My current plan is to use the Grad PLUS Loan for my master’s since it does not have a cap and can cover the entire cost. Then use my Unsubsidized Federal Loan for my doctorate to avoid private loans as much as possible. ( I am applying for scholarships/grants) I would appreciate any insight on how students are managing the cost with the caps on loans.