SoulinNeed

7+ Year Member
Aug 28, 2009
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Medical Student
I'm not sure here, but when I see the average debt that students graduate with, it's a good deal less than what you would expect combining tuition and living expenses for four years. Is the difference due to some actual aid (grants) that are given. I was under the impression that all med students really got were stafford loans. Do they actually get any grants. Also, does parents' income affect the eligibility for these grants? I know you now are considered an independent and your parents income doesn't count to your estimated contribution, but what about grants? Thanks.
 

Aerus

Elemental Alchemist
7+ Year Member
Apr 21, 2012
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Medical Student
There is some financial aid, but not a whole lot. Many people find themselves paying near full price.
 

SpecterGT260

Catdoucheus
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Feb 1, 2012
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What numbers are you seeing? The average debt is pretty appropriate for loaning out the whole amount
 
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phltz

7+ Year Member
May 13, 2010
889
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Medical Student
I'm not sure here, but when I see the average debt that students graduate with, it's a good deal less than what you would expect combining tuition and living expenses for four years. Is the difference due to some actual aid (grants) that are given. I was under the impression that all med students really got were stafford loans. Do they actually get any grants. Also, does parents' income affect the eligibility for these grants? I know you now are considered an independent and your parents income doesn't count to your estimated contribution, but what about grants? Thanks.
Most med students end up getting mostly loans. Few schools offer much in the way of grants or scholarships. The ones that do are pretty much the very wealthy (and thus, very difficult to get into) ones. Mayo throws a ton of money at its students. I believe UPenn is doing so too now (although still to a lesser extent), since the monster gift they got last year.

There are also a variety of grants you can qualify for by virtue of committing yourself to serving in various capacities. You could sign up with the NHSC or the military, and have med school payed for. It's a lot harder to get someone to just give you hundreds of thousands of dollars with no strings attached, though.

For med school, you are not considered independent, no matter how old you (or your parents) are. As long as your parents are still alive, med schools will want to know about their income. It might be kind of ridiculous, but that's how it works.
 

sylvanthus

Attending
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Sep 9, 2008
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I'm not sure here, but when I see the average debt that students graduate with, it's a good deal less than what you would expect combining tuition and living expenses for four years. Is the difference due to some actual aid (grants) that are given. I was under the impression that all med students really got were stafford loans. Do they actually get any grants. Also, does parents' income affect the eligibility for these grants? I know you now are considered an independent and your parents income doesn't count to your estimated contribution, but what about grants? Thanks.

Because people who get military scholarships, have mom and dad pay for school, etc etc bring down the average since they have 0 debt.
 

NickNaylor

Thank You for Smoking
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May 22, 2008
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Sylvanthus is right - there are a surprisingly large number of people that have parents or family pay the entirety of their medical school costs, which brings down the average.

You'll be eligible to apply for federal grants and need-based loans as well as any programs your school might offer, but eligibility for those school-specific programs will almost certainly be based on parental income. You're independent for the purposes of federal aid, but individual schools aren't so generous.
 

CodeRedDew

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Nov 13, 2011
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Will I need to put down both of my parents? I only put down one of my parents for the FAP and was fortunate enough to receive it. Is the case different when applying for financial aid to medical school?
 

penguinism

5+ Year Member
Jun 20, 2011
512
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Medical Student
Will I need to put down both of my parents? I only put down one of my parents for the FAP and was fortunate enough to receive it. Is the case different when applying for financial aid to medical school?
Unless you have a darned good excuse (estranged since birth, deceased, etc.), you need both parents' information.
 

CodeRedDew

Thirst Quencher
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Unless you have a darned good excuse (estranged since birth, deceased, etc.), you need both parents' information.
The information that I provide is only pertinent to the previous tax year, correct? I don't have to provide information on my parents' entire work history, do I?
 
Feb 23, 2011
151
12
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Pre-Medical
The information that I provide is only pertinent to the previous tax year, correct? I don't have to provide information on my parents' entire work history, do I?
No. Many schools also request information about your parents assets which may shed light onto your parents' work history. Their primary residence isn't usually taken into consideration, but second homes, vehicles, savings etc. may be considered when determining your/your family's need.
 

mvenus929

10+ Year Member
Jul 6, 2006
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I'm not sure here, but when I see the average debt that students graduate with, it's a good deal less than what you would expect combining tuition and living expenses for four years. Is the difference due to some actual aid (grants) that are given. I was under the impression that all med students really got were stafford loans. Do they actually get any grants. Also, does parents' income affect the eligibility for these grants? I know you now are considered an independent and your parents income doesn't count to your estimated contribution, but what about grants? Thanks.
My school provides substantial grants and low-cost loans to students who exhibit financial need. There's also a few merit scholarships, but I have no idea what those are because I didn't get one. Some schools have no such aid.

Some students have a nice living situation. If I had gone to a different school, my living expenses would have been taken care of, because I would've been living in one of my mom's houses, and renting out the other rooms at a rate to pay for the utilities and any other monthly expenses I would have had. Some of my friends now have a similar set-up here, where their parents bought a townhome or condo near the school, and they rent out the other rooms for living expenses. That means they only have to take out loans for tuition and fees, rather than the full cost of attendance. Others have husbands or wives who work, thus paying for living expenses while they take out loans for tuition and fees.

So there's a variety of reasons the average debt is lower than the total cost of attendance.

As far as loans, med students are eligible for unsubsidized Stafford loans (to the tune of several tens of thousands of dollars, in many cases), as well as Grad Plus loans. There are additional, private loans for those who still need something in the way of funding.

For med school, you are not considered independent, no matter how old you (or your parents) are. As long as your parents are still alive, med schools will want to know about their income. It might be kind of ridiculous, but that's how it works.
That's not entirely true. Those who are married don't need to provide their parents' income. Those who don't want institutional aid don't need to provide their parent's income at my school (you only need to provide your own information for federal aid).

Will I need to put down both of my parents? I only put down one of my parents for the FAP and was fortunate enough to receive it. Is the case different when applying for financial aid to medical school?
It depends on the situation. My parents are divorced, and have been since I was 5. I've been living with my mom since I was 7. I don't talk to my dad that often, and he has never provided any aid for me, beyond the check he gives me for my birthday and Christmas. I have never had to provide his information on financial aid forms, just note that there was no agreement about support (neither of my parents paid child support, because they each took one of us), and that he was not contributing at all to my expenses (there was someplace on my school application to write this down).

So, it depends on your situation and your school's specific form.
 
Feb 23, 2011
151
12
Status
Pre-Medical
That's not entirely true. Those who are married don't need to provide their parents' income. Those who don't want institutional aid don't need to provide their parent's income at my school (you only need to provide your own information for federal aid).
At least for the places where I applied for financial aid, even if you are married you must give your parent's information if you're interested in potentially getting need-based aid (either grants, or low interest institutional loans).

It should never hurt to give your parents information. If you don't, you will not be considered for need-based aid and will need to take out 100% in loans. If you do and aren't eligible for need-based aid, you can still take out 100% in loans if you need.
 
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