Lucca

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It looks like a lot of people are getting the same finaid that I got. So how in the world does Stanford have one of the lowest average indebtedness in the country? Isn't it because of programs like medscholars or TAing? Or are the only people that actually end up being able to go to Stanford people who demonstrate 100% need or very rich kids whose parents pay for them?
im not saying people don’t commonly use MS/TA ships to reduce debt, they do. I don’t know the numbers but I would certainly guess even most do one, other, or both at various times. I’m saying I would not simply plug in those numbers and assume they’ll be a part of your financial aid package because they aren’t 100% guaranteed. Also without yet attending here I think it would be difficult to accurately predict how much effort you would be able to apply to MS/TA/Valley each quarter for every quarter you attend in advance. Clerkship years make this even a little trickier. I think it would be far more irresponsible to tell you otherwise.

i also think it’s a misrepresentation of our financial aid policy to say only those with 100% need will get aid. My family is not low income currently by any stretch of the imagination and I know that because I grew up low income (<30k family income). I am getting significant aid to come here in addition to loans. My parents aren’t paying for my schooling, but I also know that if anything happened to me like my car needed repairing, I got into an accident, or whatever they could have my back in a pinch. They are a safety net for me. There are people here who save their stipend aggressively because *they* are the safety net for their family. The option they may have been presented with without Stanford’s aid would not have been “go into debt for Stanford and compromise about ways to service it in the long run” or “choose a more generous offer”. It simply wouldn’t have been an option at all. That’s what I mean when I say “keep things in perspective”.

I hope I’m not coming off as judgemental or minimize anyone’s disappointment which is valid. Trust me, I know where you’re coming from. I’m just trying to highlight what people from different SES backgrounds might feel reading some of these comments. Would be great if Stanford used their money to go 100% completely debt free for all, and I do think they have that ability in purely material terms, but they’ve chosen to use the gift in a way that prioritizes those with highest need while taking into account full COA and. not just tuition and in the grand scheme of things I think that’s a better approach than something like tuition free which doesn’t account for high cost of living and disproportionately advantages those with access to credit or whose parents can serve as guarantors to help find housing in high cost areas. Do I think we can do better? Always. Anyways, that’s my last comment on the subject. I hope everyone that wants to come here gets to attend but I know that’s not always possible and wish you all the best in the decision making process which can be very stressful in and of itself, I know it was the most stressful part of my cycle.
 
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NCIguy62

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take the money and run far far away. Consider this, after taxes, Stanford will cost you approx 1.5 million dollars when it’s all said and done. Maybe more. You aren’t paying taxes on your full ride scholarship money but you are paying taxes on your student loans. Take the financial freedom
Sorry I might be mistaken but I didn't know there were taxes on student loans? Could you point me to a resource on that?
 

walter_heisenberg

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Sorry I might be mistaken but I didn't know there were taxes on student loans? Could you point me to a resource on that?
when you receive scholarship money from a school, you don’t pay taxes on that money. So if you receive a 200k in scholarship, you didn’t pay taxes on that 200k. When you take out student loans and need to pay back 500k 10years from now, you are actually paying more because you need to pay taxes on the money that you earn and AFTER taxes, you can pay off that 500k. In effect, that 500k turns into 900k of earned income that needs to be taxed to pay it off. So a full ride is worth far more accounting for interest and taxes paid for on the money. On the order of 1.5 mil when all is said and done
 
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NCIguy62

just out here vibin'
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when you receive scholarship money from a school, you don’t pay taxes on that money. So if you receive a 200k in scholarship, you didn’t pay taxes on that 200k. When you take out student loans and need to pay back 500k 10years from now, you are actually paying more because you need to pay taxes on the money that you earn and AFTER taxes, you can pay off that 500k. In effect, that 500k turns into 900k of earned income that needs to be taxed to pay it off. So a full ride is worth far more accounting for interest and taxes paid for on the money. On the order of 1.5 mil when all is said and done
Am I missing something? Are Student Loans Taxable Income? | Student Loan Hero
 

walter_heisenberg

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you can’t write off the 500k in 10 years time to not pay taxes on it. In effect, there’s no difference between paying 500k on your student loans vs paying 500k for a new super car (you pay taxes on both). The one difference is that PART of the interest accrued on the student loans can be written off (a very small part on the order of a few k I believe). Source: my brother who is an accountant
 

NCIguy62

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Exactly. But by using post tax income, you are in effect, paying taxes on that money, just not right away.
Gotcha! I was worried they were taxed when you received them AND you're paying them off with post-tax income. That would be tragic. Thank you so much for clarifying.
 
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Exactly. But by using post tax income, you are in effect, paying taxes on that money, just not right away.
But aren't you paying taxes on earned income either way, whether or not you use it to pay off loans?? All you're saying is that EVERYTHING you spend earned income on costs more than the listed price because you first have to pay taxes on the income, with limited exceptions for things like mortgage interest, some student loan interest and business expenses that the IRS allows as deductions. Paying back loan principal (and the non-deductible portion of interest) is no more expensive than anything else you do with your money! :)
 
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Mar 14, 2019
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Gotcha! I was worried they were taxed when you received them AND you're paying them off with post-tax income. That would be tragic. Thank you so much for clarifying.
P.S. -- everyone should check, but I am pretty sure that any scholarship money that isn't used for tuition, fees, required equipment and books, etc. (i.e., living expenses, housing, etc.) IS taxed as income. Just an FYI!
 
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NCIguy62

just out here vibin'
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P.S. -- everyone should check, but I am pretty sure that any scholarship money that isn't used for tuition, fees, required equipment and books, etc. (i.e., living expenses, housing, etc.) IS taxed as income. Just an FYI!
Yes - that is what the article I linked said as well. Make sure you stay on top of your finances folks!

In other news, anyone got those sweet sweet lottery numbers?
 
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NCIguy62

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My parents aren’t paying for my schooling, but I also know that if anything happened to me like my car needed repairing, I got into an accident, or whatever they could have my back in a pinch. They are a safety net for me. There are people here who save their stipend aggressively because *they* are the safety net for their family. The option they may have been presented with without Stanford’s aid would not have been “go into debt for Stanford and compromise about ways to service it in the long run” or “choose a more generous offer”. It simply wouldn’t have been an option at all. That’s what I mean when I say “keep things in perspective”.
This is a very good point Lucca, and you are right. I am very fortunate to be in a position where 1) I have the chance to attend Stanford for my MD (something truly beyond my wildest dreams!) AND 2) if something went horribly wrong my parents could be my safety net - I don't need to be their safety net, as you explained. It is true, for a student who is their family's primary source of support, they might have to use their stipend to help their family right now in an extreme case, or the prospect of med school loans might truly be inhibitory to their dream of going into medicine - because if something goes wrong for THEM, they'd be straddled with hundreds of thousands in debt and no prospect of family support to help them. Fortunately for me, that is likely not the case, so I am very thankful for that. I just wish that the middle class was helped out a wee bit more, but your perspective is very appreciated - my aid offer, while disappointing, won't keep me from going to Stanford. But for others, a low aid package would.
 
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Lucca

Will Walk Rope for Sandwich
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@Lucca Any idea if second look is at risk of being canceled?
No clue! Sorry, can’t be helpful on this front. We’d probably find out same day as you. Right now we haven’t heard anything to that effect
 

hopeful4444

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Does anyone know how the waitlist works? ie, should we send letters of interest/intent? there is not anywhere on the portal to upload such a doc and the waitlist email does not mention it.
 
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If there are already 97 admitted students in the facebook group, there probably aren't gonna be many more acceptances in the next weeks
 
May 24, 2019
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If there are already 97 admitted students in the facebook group, there probably aren't gonna be many more acceptances in the next weeks
The were 179 in group for 2018 and 189 for 2019. Also, I see just 7 in the group for 2020, so maybe I’m looking at the wrong group or members are hidden?
 
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Oct 24, 2019
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Any news today?
 
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NCIguy62

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Stanford also cancelled admitted students' weekend for undergrads and are taking care of patients (including a Stanford Med faculty member) with coronavirus in the hospital. Sucks that second look may get cancelled but their health and ours as well is much more important in the long run.
 
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The_Good_MD

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Would anyone have an idea on how many waitlists were sent out?

I haven't heard anything after interviewing in the Fall. Is it better to have received some update on your status or none at all and still hope for a possible A...?
 

NCIguy62

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MD-only here, still haven't gotten anything. One can hope, but given this update and the fact that Stanford cancelled many other admit weekends, it's not looking great. Was really looking forward to the event and meeting y'all. Would have been so fun!
 
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May 24, 2019
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Do we think they're gonna wait till Friday for the Feb interviewees?
My nerves are absolutely fried
Guesses and predictions are welcome
According to AAMC traffic rules: "By March 15 of the matriculation year, issue a number of acceptance offers at least equal to the expected number of students in its first-year entering class and report those acceptance actions to AMCAS." But based on the # of people in the FB pg, looks like Stanford has already given at least 90 acceptances so the next wave might not even be this week..... If any brave soul wants to contact admissions to ask about decision timeline for Feb interviewees and report back to us, you will be forever enshrined as a hero in this storied thread.
 

detritus

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According to AAMC traffic rules: "By March 15 of the matriculation year, issue a number of acceptance offers at least equal to the expected number of students in its first-year entering class and report those acceptance actions to AMCAS." But based on the # of people in the FB pg, looks like Stanford has already given at least 90 acceptances so the next wave might not even be this week..... If any brave soul wants to contact admissions to ask about decision timeline for Feb interviewees and report back to us, you will be forever enshrined as a hero in this storied thread.
Interesting, I wonder how many acceptances are to be given out considering Stanford is likely very affordable for many accepted students and they already accepted their class size.
 
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Nov 23, 2018
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According to AAMC traffic rules: "By March 15 of the matriculation year, issue a number of acceptance offers at least equal to the expected number of students in its first-year entering class and report those acceptance actions to AMCAS." But based on the # of people in the FB pg, looks like Stanford has already given at least 90 acceptances so the next wave might not even be this week..... If any brave soul wants to contact admissions to ask about decision timeline for Feb interviewees and report back to us, you will be forever enshrined as a hero in this storied thread.
I hope Stanford hasn't accepted the class size yet. I haven't heard of any fellow February interviewees being accepted on SDN, Reddit, or IRL. While it is possible that some February interviewees heard back already and that Stanford has accepted their class size, basing this off the Facebook group isn't the most accurate way to support this claim. Just because the group has a few more members than the class size doesn't mean every member is someone admitted this cycle. For example another school's Facebook group I joined already had close to 50 members before they started letting accepted students join. I wouldn't count yourself out yet, there is still time until the 15th!
 
May 24, 2019
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I hope Stanford hasn't accepted the class size yet. I haven't heard of any fellow February interviewees being accepted on SDN, Reddit, or IRL. While it is possible that some February interviewees heard back already and that Stanford has accepted their class size, basing this off the Facebook group isn't the most accurate way to support this claim. Just because the group has a few more members than the class size doesn't mean every member is someone admitted this cycle. For example another school's Facebook group I joined already had close to 50 members before they started letting accepted students join. I wouldn't count yourself out yet, there is still time until the 15th!
True, there will definitely be another acceptance wave for the feb interviews. I was just saying that it might not be this week because I think they may have already given 90 acceptances. In previous years, the number of members in the fb group was approximately equal to the number of applicants Stanford accepts. Sure, there will be some current students in the fb group, but also some accepted applicants won’t have fb accounts or wont join the group, so historically the number of members in the FB group had been a decent approximation for the number of accepted applicants.
 
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Nov 23, 2018
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True, there will definitely be another acceptance wave for the feb interviews. I was just saying that it might not be this week because I think they may have already given 90 acceptances. In previous years, the number of members in the fb group was approximately equal to the number of applicants Stanford accepts. Sure, there will be some current students in the fb group, but also some accepted applicants won’t have fb accounts or wont join the group, so historically the number of members in the FB group had been a decent approximation for the number of accepted applicants.
I never thought of that. Good points!
 
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ShikoHitajiya

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Anyone else not interview but not receive a rejection yet...? Wondering if my application got lost...
 
Aug 27, 2019
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According to AAMC traffic rules: "By March 15 of the matriculation year, issue a number of acceptance offers at least equal to the expected number of students in its first-year entering class and report those acceptance actions to AMCAS." But based on the # of people in the FB pg, looks like Stanford has already given at least 90 acceptances so the next wave might not even be this week..... If any brave soul wants to contact admissions to ask about decision timeline for Feb interviewees and report back to us, you will be forever enshrined as a hero in this storied thread.
Who wants to be forever enshrined a hero :)
 
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