Does need-based aid stay constant through 4 years?

[CaMD]

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I'm going to be starting med school this coming fall and I'm looking at the financial aid package a school gave me.

They gave me a big need-based grant and if I could assume that I'd get that same amount in grant money each year, then I would definitely attend this school. (I'd still have tons of loans each year, but it would be reasonably equivelent to other, less expensive options I have.)

I wrote to the financial aid office and they said that they reevaluate everyone's need each year and that it depends on how much $ they have and how many students to support etc, so I'd just have to see year to year. I understand they can't guarantee anything, but I'd like to get a sense from you guys if, in general, the package you got your first year is pretty similar to packages you got in subsequent years?

(It would be sort of stupid for me to attend this school if I had to pay the whole thing in loans cause it would work out to probably another $80,000. Whereas it's the same price as my state school if I got that grant every year...) Can anyone give me a sense of how risky this is, based on their own, or others experiences?

Thank you 🙂

 

[trouta]

Typically it wont change b/c you income shouldnt change. Unless you start making tons of money during med school your resources will likely stay the same or decrease so your need should be similar (mine has been the same all three years). The only thing that could throw a wrench in is that some FA offices consider the global need of the class/school so if someone else becomes more needy than you they might get priority for the money. You cant control this though so I wouldnt worry about it.