Do schools play games with financial aid?

[krelian]

My undergrad institution was rather notorious for giving great finaid packages to incoming students to attract them to matriculate. Then, they slash the finaid packages heavily for the remaining years even if your financial situation did not change, because you're now pretty much stuck there.

Do med schools play these kind of games with financial aid also? Is there any guarrantee that I won't get screwed the next year? Fyi, I'm asking because I just got an obscene finaid deal from Umich; I read the Umich need-based finaid formula, and it seems like my package is definitely outside their usual practice. Umich already recruits heavily with its fleeces and frequent emails. I wonder if finaid is just another part of their recruiting game.

To the mods: Sorry if this thread is in the wrong place; I want to keep it in pre-allo in order to elicit more responses.

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[MadameLULU]

I asked one of the fin aid counselors at UMICH and she said their packages are pretty constant each year.

At UTSW, the fin aid office tells you they give you scholarships/grants the first two years and ease off during the third and fourth year.

If you're not sure, ask the fin. aid office about how they operate!

 

[PineappleGirl]

My undergrad institution was rather notorious for giving great finaid packages to incoming students to attract them to matriculate. Then, they slash the finaid packages heavily for the remaining years even if your financial situation did not change, because you're now pretty much stuck there.

That's so evil. My ugrad was the exact opposite. I got a lot more aid my last two years than I did my first two without any change in financial circumstances. Some of my friends reported the same thing.
About med schools though, I don't know. I wonder if you could call the financial aid office anonymously and ask.

 

[blue2000]

My undergrad institution was rather notorious for giving great finaid packages to incoming students to attract them to matriculate. Then, they slash the finaid packages heavily for the remaining years even if your financial situation did not change, because you're now pretty much stuck there.

Do med schools play these kind of games with financial aid also? Is there any guarrantee that I won't get screwed the next year? Fyi, I'm asking because I just got an obscene finaid deal from Umich; I read the Umich need-based finaid formula, and it seems like my package is definitely outside their usual practice. Umich already recruits heavily with its fleeces and frequent emails. I wonder if finaid is just another part of their recruiting game.

To the mods: Sorry if this thread is in the wrong place; I want to keep it in pre-allo in order to elicit more responses.

As a medical student, clearly I don't have access to the answer to this question in a broad sense; I can only tell you what I know from my micro prospective.

My opinion is that everyone should assume that their entire medical education will be financed through federal loans (which is fine). Every dollar of scholarship that you get, at any point, you are in the bonus, and you should be happy with it. Even if the scholarship dries up after the first year, you will have less debt overall. Now, if you are comparing two places, one that is guaranteeing you a scholarship for four years, versus one that is tantalizing you with only a one year commitment, I'm not sure what your position should be. But if you're getting any scholarship, feel happy. You'll be able to finance your education through loans in the future, so don't worry about how the tuition bill will be paid in the short term.

 

[gaf]

My opinion is that everyone should assume that their entire medical education will be financed through federal loans (which is fine)....

I would agree with all but the "federal" part. Depending on where you go Stafford loans may barely cover tuition. You'll still need money for rent, ramen noodles, peanut butter, etc.