will ft employment affect my financial aid in medical school?

[ttt92]

Hi everyone,

Been on a couple of job interviews in the last week and I think I have a good chance of getting a full time job for the next year. I am applying to medical school now, hoping to get in for fall 2016. I was just wondering if anyone knew whether or not my ft employment/income would affect my financial aid for medical school? I wouldn't be making that much (maybe 35-40K/yr) but still a lot comparatively. My parents' income is very low, so I was hoping to maximize my financial aid because of this. Asking because I could just work part time instead, but obviously I'd like to save up some money for medical school with a full time job.

Thanks!

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[starlite911]

You will have to report your income, as well as your parents' for med school financial aid, so it will affect it. Even working part time will affect it as well, so might as well as just work and save up the money. Being expected to contribute the money you save is much better than loans.

 

[ndafife]

Hi everyone,

Been on a couple of job interviews in the last week and I think I have a good chance of getting a full time job for the next year. I am applying to medical school now, hoping to get in for fall 2016. I was just wondering if anyone knew whether or not my ft employment/income would affect my financial aid for medical school? I wouldn't be making that much (maybe 35-40K/yr) but still a lot comparatively. My parents' income is very low, so I was hoping to maximize my financial aid because of this. Asking because I could just work part time instead, but obviously I'd like to save up some money for medical school with a full time job.

Thanks!

Your parents income does not come into pay for federal student loans for medical students, its entirely based off of you. School specific stuff might look at it, but for the most part your financial aid package is entirely based on your money.

Med school is going to cost more than 35-40 K a year when you factor in the COA, so your first year you might be expected to use some of your saved money (aka take less in loans) but subsequent years, as you deplete your savings, should be giving you closer to the full COA

 

[Affiche]

Your parents income does not come into pay for federal student loans for medical students, its entirely based off of you.

Wait, whaaa? I thought FAFSA totally takes into account your parents' income, unless you're over a certain age or independent.

 

[ndafife]

Wait, whaaa? I thought FAFSA totally takes into account your parents' income, unless you're over a certain age or independent.

Once you have a Bachelor's its just you

 

[normoblast]

I think there is a way that you can use anticipated income for financial aid. AAMC talks about it a little in the tips section of this page.
https://www.aamc.org/services/first/first_factsheets/112308/nontraditional_students.html

 

[starlite911]

FAFSA does not take into account parent info. However, most medical schools do if you're under 30, which is why you have to fill out another form, I think it's called "Need-Based" something or other, but I can't remember it off the top of my head.