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how do they view pension income?

Discussion in 'Financial Aid' started by LoneCoyote, 01.03.03.

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  1. LoneCoyote

    LoneCoyote 7+ Year Member

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    Both of my parents will be retired when i apply to medical school. I know we have to submit our parents' financial info. Do the schools consider pension income the same as income from employment? Thanks.
     
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  3. mpp

    mpp SDN Moderator Moderator Emeritus 10+ Year Member

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    If the income is taxable (as pension income would be) then it would be reported on the FAFSA provided that you are required to report parental income. Check with the individual school. Some schools will not require you to report parental income. Others will require it. In either case, the parental income is not taken into consideration when considering eligibility for unsubsidized Stafford loans.
     
  4. maysqrd

    maysqrd Go A's! 7+ Year Member

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    A graduate student (as med students are) are not required to submit parent information on your FAFSA. It is an option and you should only include it if you think that it will help your case. In other words, if your parents are disabled and live off of SSI or something like that and you want the feds to think that you come from a poor family and that there is absolutely no possible way that they will be able to help you out financially, then include their income. Otherwise, DO NOT show their income. If you list it, then the feds may say that their income is included in YOUR expected family contribution even if your parents will not be assisting you in any way.
     

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