FA packages

[Infinitydrop]

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Who has gotten them already for what schools and how to they look? generous? Do you think your aid was more so at schools where you are more competitive or is it actually blind?

 

[Food]

Not really sure - I think I've received one, but I have nothing to judge it against right now. It basically just gives me a breakdown of how much of my debt will be subsidized vs unsubsidized. There are no grants or anything like that 🙁

 

[PinkIvy08]

Not really sure - I think I've received one, but I have nothing to judge it against right now. It basically just gives me a breakdown of how much of my debt will be subsidized vs unsubsidized. There are no grants or anything like that 🙁

I'm in the exact same boat. I was so confused/depressed when I opened it because I know we're broke. Which makes me wonder how these schools truly determine "financial aid"...

 

[BBender716]

I'm in the exact same boat. I was so confused/depressed when I opened it because I know we're broke. Which makes me wonder how these schools truly determine "financial aid"...

Ditto. I just felt hurt. Not like I was expecting anything, just a big reality check.

 

[Food]

Well, I was fully prepared to take out loans for every expense...I don't know if many med students are able to get stuff paid for.

 

[jlimback]

I've been under the impression that private schools usually offer more in the line of financial aid, since their tuition is usually much higher.

Aside from a state grant of $1000 over 2 semesters, I think my education will be paid for in loans.

Does anyone know if financial aid packages usually come with your acceptance, or if they are given out afterwards?

 

[LRAccord624]

I think some scholarships are given with acceptances, kind of to attract the person to that school over others. But actual financial aid packages don't usually come till mid april- early may so they can review FAFSA's. Seems they should be given before May 15th since we can only hold multiple acceptances until then.

 

[jlimback]

I'm in the exact same boat. I was so confused/depressed when I opened it because I know we're broke. Which makes me wonder how these schools truly determine "financial aid"...

Did you school give out individual letters? Just wondering how the whole matter is handled.

 

[PinkIvy08]

For this particular school they did send out individual letters, but according to the financial aid presentation at their Second Look, it seemed as though they don't really offer aid (this is a private institution). I mean, I wasn't expecting a large sum of money, but I did expect something. Ah well, I'm holding out that the others come thru with something soon - I just want this all to be over! lol

 

[randombetch]

Stanford has a 60:40 plan (60% grants, 40% loans to cover everything above your EFC).

Just sayin'.

 

[Food]

Stanford has a 60:40 plan (60% grants, 40% loans to cover everything above your EFC).

Just sayin'.

Well, see, that is where I am confused. When you submit your FAFSA, you have to pretty much apply as an independent for grad/prof. school. Sure, you can put your parents information but it won't influence your EFC. It just might make you eligible for additional scholarships/grants. Given that most of us don't have jobs that could possibly pay for any medical school related expense, shouldn't just about every med-student's EFC be 0? I know that schools like Stanford probably are listed with Need Access or something similar, but isn't that entirely need-based? Maybe somebody who has used Need Access could shed light on this - not that I need the info - none of my schools are enrolled in it.

 

[randombetch]

Well, see, that is where I am confused. When you submit your FAFSA, you have to pretty much apply as an independent for grad/prof. school. Sure, you can put your parents information but it won't influence your EFC. It just might make you eligible for additional scholarships/grants. Given that most of us don't have jobs that could possibly pay for any medical school related expense, shouldn't just about every med-student's EFC be 0? I know that schools like Stanford probably are listed with Need Access or something similar, but isn't that entirely need-based? Maybe somebody who has used Need Access could shed light on this - not that I need the info - none of my schools are enrolled in it.

All I know is, Stanford students on average take out only about 21k a year (which means they're getting, on average, 30k a year in grants). I'm guessing about 1/3 can get their parents to pay for it, and 2/3 basically have an EFC of 0?

I'm not sure. Don't some people apply as a dependent?

 

[JJMrK]

Well, I was fully prepared to take out loans for every expense...I don't know if many med students are able to get stuff paid for.

If you have this mindset going in, you're going to get pretty much exactly what you expect. Everybody likes to hope they'll get some free money, but most people don't get anything.

All I know is, Stanford students on average take out only about 21k a year (which means they're getting, on average, 30k a year in grants). I'm guessing about 1/3 can get their parents to pay for it, and 2/3 basically have an EFC of 0?

I'm not sure. Don't some people apply as a dependent?

Since you fill out the FAFSA as a graduate student, you are automatically considered independent. EFC is calculated based on your own income (or that of your spouse). Many people will have an EFC of 0, but will not get any need-based aid.

 

[Food]

All I know is, Stanford students on average take out only about 21k a year (which means they're getting, on average, 30k a year in grants). I'm guessing about 1/3 can get their parents to pay for it, and 2/3 basically have an EFC of 0?

I'm not sure. Don't some people apply as a dependent?

Ah...yeah, your last point is probably correct. There are likely a substantial enough number of people who take out 0 loans either because of the military or parents and skew the average enough to make it look like most people are getting sweet grants/scholarships. If you looked at the median, I think you'd get a better picture.

 

[Infinitydrop]

wow this is pretty depressing thus far.

Most schools require your parents's fianicial info in addition to the FASA to calculate your need, so its's really based on your parent's ability to pay.