Stopped in at the right time it would appear...
However, I wish I could be more help. The fact is, I really don't know how a family of 3 is to live on what is available, without navigating the private loan minefield that NTT has described. I normally shy away from talking about finances, even to family, because it's nobody's bidness. But I'll make an exception for you guys, in part because except for the Trustafarian rich kids from Edmond who are descended from a long line of physicians (they'll be in your class too...), we're all getting paid the same amount to go to school. We probably spent about 8-9K, maybe a little more, over what we got from FA. I had saved up a little in anticipation of the kiddo, there was some residual savings, birthdays, random gifts from grandparents, etc. As it is, my wife can't wait for me to start school so the money faucet gets turned back on.
**If you aren't a budgeter, AND YOU SHOULD BE, the first thing I would do when you get your disbursement is figure out what your bills will be for the 3 summer months (don't forget AC costs
) , add 10% or so, then divide this by 2. Take half out of your fall check, half out of your spring check. Don't touch it until you're celebrating the fact you never have to go down to the anatomy lab again.**
But we had quite a few things pop up that ate into our budget that weren't planned for. New carpet, new windows (ouch...), 2 a.m. plumbing issues, gas prices, formula costs (keep the ****s on the tits!), well-baby checks which are the biggest ****ing racket next to personal property taxes, Payne County personal property taxes, etc, etc...
I don't know the answers to your personal situation, but I do know your trepidation is not unwarranted. It isn't easy. And made less so by the fact that most older folks are used to having more money (in contrast to the single "traditional" student used to having less). Truth be told, if we didn't live between our parents (3 miles each way, a blessing and a curse), both sets of which know full well what being poor feels like, we'd be on welfare. Well, actually that's not true, because we got turned down when we applied. Made "too much money". Nowhere on your award letter does it say that more than half of what you "make" goes to the school before you even see it. But we eat at their houses quite a bit, under the auspices of them getting to see the kiddo. Oh yeah, I pimp my son for food, I'll say it.