Does it pay off to get married before matriculation??

[PreMD86]

At one of the schools I just interviewed at, I was told I have to submit the fafsa along with either my parents' tax return, or if married- the wife's tax return. I understand that the idea is that most medical students have made very little money in their lifetime, and would therefore qualify for aid if they filed as independent, but that financing the educating is also the burden of the medical student's primary financial source. From my understanding, once married, that primary source becomes your spouse instead of your parents.
So, since my gf and I make virtually no money, while my parents make well enough to qualify for no aid, would I theoretically be able to get around submitting my parents' tax return by getting married??

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[Sol Rosenberg]

You have to submit it all, your info, your wife's info, and your parents' info (if you want to apply for need-based aid from your school) anyway....and because you are considered independent for Federal aid anyway, it won't make a bit of difference if your (future) wife makes $0.

 

[Doctor Bagel]

Well, with this particular school it might maybe be advantageous, but it's usually not. The downside of being married for FA is that all your spouse's earnings and assets are considered your earnings and assets.

And as a general life rule, don't factor considerations like this into the decision of whether or not to get married.

 

[Isoprop]

correct me if i'm wrong, but i was under the impression that parents' tax information is not needed med school for the fafsa.

 

[Sol Rosenberg]

correct me if i'm wrong, but i was under the impression that parents' tax information is not needed med school for the fafsa.

Many (most?) schools require parental financial information to be included on the FAFSA for institutional loans/grants even though Federal loan programs do not require it.

 

[scdocusc]

I was curious about my situation. Will my EFC increase because I'm married and we make around 48K together gross? It doesnt seem right because she's going to have to get a new job when we move and will not be making near as much money as she is now.

 

[Twitch]

I was curious about my situation. Will my EFC increase because I'm married and we make around 48K together gross? It doesnt seem right because she's going to have to get a new job when we move and will not be making near as much money as she is now.

I wouldn't worry. You'll still be able to get the full sub, all the unsub you could want, and whatever is left in the pot wrt perkins and such.

 

[Doctor Bagel]

I wouldn't worry. You'll still be able to get the full sub, all the unsub you could want, and whatever is left in the pot wrt perkins and such.

Yeah, the EFC will increase a little to reflect your spouse's earnings, but it probably won't be enough to affect your aid at all. If your spouse made $150k/year, then it might be an issue. And even then, all that means is that you probably won't qualify for your $8500 in subsidized loans and instead will have to take out all unsubsidized loans.

 

[armybound]

so I'm recently married and have been waiting for my parents' tax information before submitting FAFSA.. am I waiting for nothing? should I just file with my own information since I'm married? schools will consider me for institution-based aid with just my wife's and my information?

 

[Doctor Bagel]

so I'm recently married and have been waiting for my parents' tax information before submitting FAFSA.. am I waiting for nothing? should I just file with my own information since I'm married? schools will consider me for institution-based aid with just my wife's and my information?

Most schools will still want the parental data unfortunately. I guess some few schools make an exception for married people.