Do Admission Committee Consider Financial Need for Acceptance?

[Codynna]

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I've read that debt can influence a medical schools decision to accept you or not. I am curious if financial need can also influence the admission committee's decision to enroll or not. essentially i imagine that this would be worse for individuals on the wait list. as individuals get accepted, funds for financial aid starts to dwindle. if a student as exceptional financial need, would that not adversely affect his/her chances compared to a rich student? I also remember that some medical schools ask about parent occupation? is this to gage anticipated EFC? any information would be greatly appreciated.

 

[knv2u]

I don't know the story for international students, but at least for U.S. citizens, the answer is no. Unless you have horrible credit (e.g. judgments, bankruptcy, etc.) and cannot find a cosigner, everyone can finance the entire cost of attendance through Grad PLUS Loans. In other words, medical schools are getting their money either way so they could care less.

Edited to add: The question about parent occupation is to help identify socioeconomically disadvantaged students, first generation college student, and things along the lines of that.

 

[solitarius]

I would think the reason most medical schools don't accept international students is because they can't qualify for federal loan programs (i.e., can't pay).

 

[Catalystik]

I've read that debt can influence a medical schools decision to accept you or not.

As more med schools do credit checks, and not just background checks, on their applicants, I can readily believe that having a history of bad debt might have an adverse influence.

 

[Mt Kilimanjaro]

I've read that debt can influence a medical schools decision to accept you or not. I am curious if financial need can also influence the admission committee's decision to enroll or not. essentially i imagine that this would be worse for individuals on the wait list. as individuals get accepted, funds for financial aid starts to dwindle. if a student as exceptional financial need, would that not adversely affect his/her chances compared to a rich student? I also remember that some medical schools ask about parent occupation? is this to gage anticipated EFC? any information would be greatly appreciated.

This is at the undergraduate level, but hard to imagine these considerations don't happen at the graduate level too: http://www.theatlantic.com/business...nts-simply-because-they-were-too-poor/280769/

The AMCAS asks you to voluntarily report answers about your parents' occupations and income, then calculates an SES factor. For schools that award aid based on need rather than merit, this would give them a rough gauge of how much you're likely to need. It seems likely that this could be considered when deciding "do we really want this person or not."

 

[tantacles]

I've read that debt can influence a medical schools decision to accept you or not. I am curious if financial need can also influence the admission committee's decision to enroll or not. essentially i imagine that this would be worse for individuals on the wait list. as individuals get accepted, funds for financial aid starts to dwindle. if a student as exceptional financial need, would that not adversely affect his/her chances compared to a rich student? I also remember that some medical schools ask about parent occupation? is this to gage anticipated EFC? any information would be greatly appreciated.

At my school in particular, students who come from financially disadvantaged backgrounds are at an advantage as my school considers them to be a group underrepresented in medicine. Otherwise, your credit score or monetary status has no bearing on your application.

 

[scarletgirl777]

This is at the undergraduate level, but hard to imagine these considerations don't happen at the graduate level too: http://www.theatlantic.com/business...nts-simply-because-they-were-too-poor/280769/

The AMCAS asks you to voluntarily report answers about your parents' occupations and income, then calculates an SES factor. For schools that award aid based on need rather than merit, this would give them a rough gauge of how much you're likely to need. It seems likely that this could be considered when deciding "do we really want this person or not."

This is completely different. The federal government allows undergrads to borrow an extremely limited amount of money in their own name which could never finance attendance at even a state school. Therefore, undergrads whose parents cannot or will not contribute to their edcuation or cosign loans have a much more difficult time financing their undergraduate education. Therefore, these students are a lot less likely to enroll and stay enrolled than their well-heeled peers, ruining colleges' yields and graduation rates. Almost every single US citizen out there should be able to entirely fund their graduate school education because there is no limit on Grad Plus loans--so if you have not gone to jail for drugs or gone months being delinquent on sizable loans or debt, then you will have no problem paying for med school. Furthermore, ulike college, med schools feel no obligationi to help students with financial aid because medical school graduates are nearly guaranteed to get a relatively high paying job. The two situations are not even close to the same and this is not a realistic concern.

 

[gyngyn]

At my school in particular, students who come from financially disadvantaged backgrounds are at an advantage as my school considers them to be a group underrepresented in medicine. Otherwise, your credit score or monetary status has no bearing on your application.

Mine too.

 

[Codynna]

thank you so much everyone for the responses.

 

[andrewpumpkin]

This is completely different. The federal government allows undergrads to borrow an extremely limited amount of money in their own name which could never finance attendance at even a state school. Therefore, undergrads whose parents cannot or will not contribute to their edcuation or cosign loans have a much more difficult time financing their undergraduate education. Therefore, these students are a lot less likely to enroll and stay enrolled than their well-heeled peers, ruining colleges' yields and graduation rates. Almost every single US citizen out there should be able to entirely fund their graduate school education because there is no limit on Grad Plus loans--so if you have not gone to jail for drugs or gone months being delinquent on sizable loans or debt, then you will have no problem paying for med school. Furthermore, ulike college, med schools feel no obligationi to help students with financial aid because medical school graduates are nearly guaranteed to get a relatively high paying job. The two situations are not even close to the same and this is not a realistic concern.

Do you know if this is true for permanent residents/green card holders as well?

 

[scarletgirl777]

Do you know if this is true for permanent residents/green card holders as well?

Yes, just like for college. Now there could be certain private scholarships or special low or no interest loans financed by donors who stipulate they be given to US citizens, but that's separate from the federal loans that virtually every student is entitled to.

 

[andrewpumpkin]

Yes, just like for college. Now there could be certain private scholarships or special low or no interest loans financed by donors who stipulate they be given to US citizens, but that's separate from the federal loans that virtually every student is entitled to.

That's great to know. Thanks!

 

[Goro]

No.

I am curious if financial need can also influence the admission committee's decision to enroll or not. essentially i imagine that this would be worse for individuals on the wait list. as individuals get accepted, funds for financial aid starts to dwindle. if a student as exceptional financial need, would that not adversely affect his/her chances compared to a rich student?