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does working fulltime affect the amt of finacial aid you recieve????

mystiqx

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    I work fulltime (40 hrs a week, 5 days a week) along with taking classes for my pre-reqs. For those of you in similar situations especially those with significant yearly saleries, who have already applied to pharmacy school and have been apcepted, i was wondering if the fact that you worked fulltime has worked against you in getting financial aid, especially loans to cover tuition and fees and living costs such as money to pay for your housing, food, etc. My worry is that you are awared financial aid based on need (well this was how it was for undergrad) and if your W2's show otherwise because you have been working fulltime for what they consider a significant yearly salary would you not get aid????? looking foward to any feedback, and if this question was answered in another thread that i may have over looked i appologise for repeating it.

    ~M
     

    tetra327

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      I also work 40-48 hours a week. I just completed my taxes and my fafsa and the government calculated my Expected Family Contribution (EFC) to be about 11K. Are they kidding?!?! Once I begin pharmacy school in the fall I will be working 10 hours at most and will pay for gas in my car and thats about it. So to answer your question..yes, I do believe that working full time affects your financial aid. But you fill out the fafsa every year, so I guess that it would only affect your first year since anything after that you arent going to be working very much.
       

      mystiqx

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        tetra327 said:
        I also work 40-48 hours a week. I just completed my taxes and my fafsa and the government calculated my Expected Family Contribution (EFC) to be about 11K. Are they kidding?!?! Once I begin pharmacy school in the fall I will be working 10 hours at most and will pay for gas in my car and thats about it. So to answer your question..yes, I do believe that working full time affects your financial aid. But you fill out the fafsa every year, so I guess that it would only affect your first year since anything after that you arent going to be working very much.


        But are they going to at least provide you with loans or something to suppliment the 11K cause i know once i get into pharm school and i apply to finaical aid i'm gonna get some crazy number like that too, my fear is that they won't at least give me the option of loans to suppliment the EFC

        ~M
         
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        tetra327

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          I dont think that getting more in loans is going to be a problem, though I dont know if you can get loans from the gov., you might need to get an outsider lender like fannie mae or another for more loans. But I'm more worried about the lack of scholarship or need based awards for this first year.
           

          CuRy

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            mystiqx said:
            I work fulltime (40 hrs a week, 5 days a week) along with taking classes for my pre-reqs. For those of you in similar situations especially those with significant yearly saleries, who have already applied to pharmacy school and have been apcepted, i was wondering if the fact that you worked fulltime has worked against you in getting financial aid, especially loans to cover tuition and fees and living costs such as money to pay for your housing, food, etc. My worry is that you are awared financial aid based on need (well this was how it was for undergrad) and if your W2's show otherwise because you have been working fulltime for what they consider a significant yearly salary would you not get aid????? looking foward to any feedback, and if this question was answered in another thread that i may have over looked i appologise for repeating it.

            ~M
            If your income or your other financial support is substantially changed (such as you return to school fulltime), you should report to your school's financial aid office. They will take your new income (just a forcast) to replace your previous large income and send it back to the FAFSA. So you have to wait until you settle down at one school to make that correction.
             

            tanyas

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              I worked full time before starting pharmacy school, but still received the maximum amount of government loans. I am trying to remember if I filled out any projected income forms with USC, and I don't think so. I think for the government loans they don't care about the income....that was important for grants, but there are no grants in graduate school.
               

              tetra327

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                tanyas said:
                I worked full time before starting pharmacy school, but still received the maximum amount of government loans. I am trying to remember if I filled out any projected income forms with USC, and I don't think so. I think for the government loans they don't care about the income....that was important for grants, but there are no grants in graduate school.


                True, there are no grants in grad school, but when I filled out my fafsa Mercer told me that first and second years are to be considered undergrad, and only the 3rd and 4th years are to be grad/prof. so that would mean that it would be possible to get grants for your 1st and 2nd year of pharmacy school.
                 

                LBS615

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                  I have an EFC of $11,500 (which is not what i have to give to school!)- and I am expecting to take out about 30,000 a year in loans. I am hoping to get the full amount from the goverment but if you don't you can fill out a form -I think it is called professional judgement, with your fin aid office. This is for people who need more money due to loss of income, children, or illness. I will do this if I do not get the full amount. But I am going to take out unsubsidized and subsidized loans through my school- they are a lender.
                   

                  lgooden

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                    At my school if your income has or will be changing you submit this form called a special circumstance form to the financial aid and your efc can be changed based on future projection of income. Also, I found out after getting my degree last June that you are not elligible for grants once you have a bachelors degree even if you are taking undergraduate classes. Bummer cause since I started college early, I didn't even qualify to be independant after 5 years of school. This last year I have just been finishing up prereq's trying to satisfy requirements for 8 schools! what a headache. Anyway, all loans for me. :(
                     

                    LBS615

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                      that form the above is talking about is the professional judgement form. Yes- in professional school of course you get loans if you already have a degree. When I did my masters I got loans the whole time via the goverment.
                       
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