Fafsa 2005-2006

[drguy22]

Ok I have a ?....i just submitted my fafsa, and it said that i can file as "independant" even though my parents claim me as a dependent on their tax return. Im assuming they did this b/c i answered that I would be getting a professional degree....but then when it came to my parents info, they said that I had a choice to enter it or not...but it also said it may be beneficial for the student. WHy??? If i put my parents info in...wont by EFC go up...I earned VERY little, cuz i live at home, so naturally if i just put in just my info..i get 0.

anyone go through this and know wat to do?

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[MadameLULU]

Ok I have a ?....i just submitted my fafsa, and it said that i can file as "independant" even though my parents claim me as a dependent on their tax return. Im assuming they did this b/c i answered that I would be getting a professional degree....but then when it came to my parents info, they said that I had a choice to enter it or not...but it also said it may be beneficial for the student. WHy??? If i put my parents info in...wont by EFC go up...I earned VERY little, cuz i live at home, so naturally if i just put in just my info..i get 0.

anyone go through this and know wat to do?

a lot of schools require that you submit your parent's information to be considered for need based scholarships.

 

[wxl31]

i was wondering, do you get your EFC right away on the computer? or do you have to wait for them to send it to you? i want to get my fafsa in early too, but i think i need to wait for my parents to get their W2's this year.

 

[Cerberus]

done, my efc = 0 so maybe my medschool will give me some bling

 

[drguy22]

done, my efc = 0 so maybe my medschool will give me some bling

did they put u as independant?

 

[whitecoat09]

pardon my ignorance, but is the fafsa due today??? some schools have told me that they'll tell us when to fill it out....later this month?

 

[Cerberus]

did they put u as independant?

I think as a grad/professional student it automatically puts you as an Independent. However, to qualify for school provided financial aid (and this applies to every school i know of) you have to provide your parents information.

 

[drguy22]

I think as a grad/professional student it automatically puts you as an Independent. However, to qualify for school provided financial aid (and this applies to every school i know of) you have to provide your parents information.

damn..tat sux my efc's gonna go up

 

[MadameLULU]

pardon my ignorance, but is the fafsa due today??? some schools have told me that they'll tell us when to fill it out....later this month?

No, but I would fill it out by at least the end of February.

 

[UCLAstudent]

damn..tat sux my efc's gonna go up

Mine, too. It stinks that you have to put down your parents' information, even if they aren't helping out with medical school costs.

 

[drguy22]

Mine, too. It stinks that you have to put down your parents' information, even if they aren't helping out with medical school costs.

ya...my parents paid for some of my undergrad...but i cant expect them to pay for med school too.......it really just sux!!

 

[Premedtomed]

I think as a grad/professional student it automatically puts you as an Independent. However, to qualify for school provided financial aid (and this applies to every school i know of) you have to provide your parents information.

Agreed.
Regarding your the info. about your parents, just put in estimates. It is ok

 

[CaMD]

I just began entering my data into FAFSA. It asks if I'm interested in work-study. My understanding is that med students don't do work study because we don't have time. So should I check no? (I do want to be eligible for every single dime I can get my hands on but I don't want them to not give me grant or loan because they figured in work/study into the picture.

Thanks for the help. My parents always filled out fafsa for me as an undergrad so I'm new to this.

 

[ZappBrannigan]

I just began entering my data into FAFSA. It asks if I'm interested in work-study. My understanding is that med students don't do work study because we don't have time. So should I check no? (I do want to be eligible for every single dime I can get my hands on but I don't want them to not give me grant or loan because they figured in work/study into the picture.

Thanks for the help. My parents always filled out fafsa for me as an undergrad so I'm new to this.

Someone correct me if I'm wrong, but I don't believe there are any federal work study aid or pell grants for med students. You're just looking to get loans. The medical school itself can decide whether or not to give you a scholarship based on merit or need (and possibly more loans).

 

[Cerberus]

Someone correct me if I'm wrong, but I don't believe there are any federal work study aid or pell grants for med students. You're just looking to get loans. The medical school itself can decide whether or not to give you a scholarship based on merit or need (and possibly more loans).

Correct

 

[drguy22]

Correct

i think there is a pell grants....i read it on the site...BUT i was kinda vague to me...

 

[CaMD]

Someone correct me if I'm wrong, but I don't believe there are any federal work study aid or pell grants for med students. You're just looking to get loans. The medical school itself can decide whether or not to give you a scholarship based on merit or need (and possibly more loans).

Thanks!

 

[CaMD]

I think as a grad/professional student it automatically puts you as an Independent. However, to qualify for school provided financial aid (and this applies to every school i know of) you have to provide your parents information.

Hmm. I was under the impression that schools when schools want your parents economic info they would ask for it under separate cover. (Like I believe UVA had a separate form to fill out with that kind of info to qualify for institutional aid.)

Seems best to leave the federal government in the dark about your parents $ status so they don't hold it against you and then just tell each school individually as they ask. --Or have some of you been told my schools that you need to put your parents on FAFSA so they can do their own calculations?

 

[ZappBrannigan]

So I've been confused up until now on how this whole parental contribution thing worked, but here's what I've learned. Even if you put your parents' info on the FAFSA and even if they make loads of money, it will not affect federal Stafford loans. Since you are independent they just look at your contribution. They will look over your parents info when determining federal Perkins loans in addition to some other loans such as the primary care loan. You can't get these loans unless you put down your parents' info and their income is low enough. So it won't hurt you to put your parents' info on, it can only help you.

 

[drguy22]

So I've been confused up until now on how this whole parental contribution thing worked, but here's what I've learned. Even if you put your parents' info on the FAFSA and even if they make loads of money, it will not affect federal Stafford loans. Since you are independent they just look at your contribution. They will look over your parents info when determining federal Perkins loans in addition to some other loans such as the primary care loan. You can't get these loans unless you put down your parents' info and their income is low enough. So it won't hurt you to put your parents' info on, it can only help you.

i wanna make a correction to one of my other posts....ya Cerebus was rite. There is no pell grant

 

[Cerberus]

Hmm. I was under the impression that schools when schools want your parents economic info they would ask for it under separate cover. (Like I believe UVA had a separate form to fill out with that kind of info to qualify for institutional aid.)

Seems best to leave the federal government in the dark about your parents $ status so they don't hold it against you and then just tell each school individually as they ask. --Or have some of you been told my schools that you need to put your parents on FAFSA so they can do their own calculations?

Every school i've interviewed at said to feel out your parental information on the FAFSA if you wanted to be considered for school based aid. They may have their own forms as well but I am pretty sure everyone expects you to do the parental section on FAFSA.

 

[cali99boy]

Every school i've interviewed at said to feel out your parental information on the FAFSA if you wanted to be considered for school based aid. They may have their own forms as well but I am pretty sure everyone expects you to do the parental section on FAFSA.

How old are you? I'm going to turn 24 this year so I can claim myself as an independent. I sure hope I don't have to enter my parents income because this was the first year I was hoping to actually receive money because I never got any grants before even though my parents didn't help me pay for school.

 

[Cerberus]

How old are you? I'm going to turn 24 this year so I can claim myself as an independent. I sure hope I don't have to enter my parents income because this was the first year I was hoping to actually receive money because I never got any grants before even though my parents didn't help me pay for school.

Forget about it. You would be considered independent even if you were 20 yrs old, since you are starting a graduate/professional program. Unfortunately for you, the gov doesn't give out pell grants for medschool like they did for ugrad.

 

[PhotoMD]

To close the book on this issue, the FAFSA web site notes that you are required to submit parental info to qualify for the good stuff if you are going to be a health professional. See:

http://www.fafsa.ed.gov/fotw0506/help/ffdef26.htm

Yes, it's dumb, but if everyone were independent the government would fund everyone's medical education. And that would be... well... awesome.

 

[Uegis]

To close the book on this issue, the FAFSA web site notes that you are required to submit parental info to qualify for the good stuff if you are going to be a health professional. See:

http://www.fafsa.ed.gov/fotw0506/help/ffdef26.htm

Yes, it's dumb, but if everyone were independent the government would fund everyone's medical education. And that would be... well... awesome.

How did everyone fill out their tax information and their parent's tax info without having this years W-2 forms yet? I want to fill this thing out ASAP, but can't really figure out how to do that.

 

[CaMD]

How did everyone fill out their tax information and their parent's tax info without having this years W-2 forms yet? I want to fill this thing out ASAP, but can't really figure out how to do that.

I haven't submitted mine for that very reason. I logged in and entered in what I could, but I'm waiting on W-2s. You can fill it out with estimates if you want but I *believe* the financial aid woman at Dartmouth said there was no point in doing that, they don't really use it til they get the real info or it has to be resubmitted or something? --Now my head is totally woozy with interviews so if I have that mixed up I'd love to be corrected.

 

[bridge01]

No, but I would fill it out by at least the end of February.

can someone tell me how does it work if you are on waitlists and generally dont know where you're going to school? do you just include all the schools on your list?

 

[CaMD]

can someone tell me how does it work if you are on waitlists and generally dont know where you're going to school? do you just include all the schools on your list?

Yup. Unfortunately there's only room for 6 schools on the electronic submission but supposedly there's an extra form somewhere for adding additional schools.

 

[MadameLULU]

Yup. Unfortunately there's only room for 6 schools on the electronic submission but supposedly there's an extra form somewhere for adding additional schools.

Anyone else heard of this extra form? I've been wondering how to do this...

 

[CaMD]

Anyone else heard of this extra form? I've been wondering how to do this...

I found this on the FAFSA website.

If I want to apply to more than six schools, what do I do?
The FAFSA application has room for up to six schools at a time. Once you receive your processed Student Aid Report (SAR) with all of the correct information, you have six options for making your information available to more than six schools:

*

Go to the FAFSA Corrections on the Web site and replace the schools listed on your application with other school codes and submit a correction to your FAFSA information. You will need your PIN for this option.
*

Photocopy your SAR and mail it to the other schools.
*

Replace the schools listed on your paper SAR with other school code(s), and mail it back to the U.S. Department of Education. They will send an electronic copy of your SAR to the new school(s), as well as mail you a paper copy of your updated SAR. Note that the school codes originally on your SAR are replaced by the new school codes. The original schools will not receive anymore information about you if you make changes to your application information. However, you may call the Federal Student Aid Information Center by referring to the Customer Service page for contact and assistance information to make changes to school information using your Data Release Number (DRN).
*

Make your Social Security Number, name, and DRN available to schools so that they can obtain an electronic version of your Student Aid Report.
*

If you have further questions, please refer to the Customer Service page for contact and assistance information by selecting this link.

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[wxl31]

i wanted to get this thing in super fast too, but i'm waiting until my parents do their taxes. the FAiFSA asks for ADJUSTED GROSS INCOME, not actual gross income. my dad said that his adjusted income is at least 20K less than actual b/c he deducts things like property tax and donations to charity organizations.

as for me, i'm waiting until my school loan company sends me a statement saying how much i paid in interest last year. you get to deduct that as well off of your own income. last year i was able to deduct 300 dollars and that helped me increase the amt of money i was refunded.

 

[Cerberus]

Wow, they already completed mine

 

[DianaLynne]

Wow. That form is like six orders of magnitude worse than AMCAS! I wonder if I can get H&R Block to fill it out for me...

 

[Cerberus]

Have you people never filled out FAFSA before??? Fcuking rich kids.....

 

[2tall]

How did everyone fill out their tax information and their parent's tax info without having this years W-2 forms yet? I want to fill this thing out ASAP, but can't really figure out how to do that.

Use estimates. Look at your/your parent's December payroll stub. It'll have info on income, taxes info, yada, yada, yada.

 

[DrTacoElf]

So I've been confused up until now on how this whole parental contribution thing worked, but here's what I've learned. Even if you put your parents' info on the FAFSA and even if they make loads of money, it will not affect federal Stafford loans. Since you are independent they just look at your contribution. They will look over your parents info when determining federal Perkins loans in addition to some other loans such as the primary care loan. You can't get these loans unless you put down your parents' info and their income is low enough. So it won't hurt you to put your parents' info on, it can only help you.

For stafford loans are you 100% sure your parents income (EFC) has no effect on the ammount of subsidized money you get ($8500 max) even if they are well off? Thats a big concern for me and it seems that no one has a distinct, clear answer to this puzzle. To add to this picture I basically need roughly $25,000 per year so clearly it will all be federal, but I want as much of it as possible to be subsidized for obvious reasons. I'm not sure if submitting parental information will have any benefit what-so-ever for me. (I don't believe MCG requires it, however i'm going to make a call to them tomorrow)

 

[Supercluster]

Wow. That form is like six orders of magnitude worse than AMCAS! I wonder if I can get H&R Block to fill it out for me...

I bet they would I am seriously considering having my parent's tax preparer do it because my financial situation is a little confusing (I'm in AmeriCorps VISTA and there's a ton of weird tax things because of that--like I don't pay payroll taxes or something. I don't know. See I'm already confused). But yeah, the point of the post is that it wouldn't be a bad idea to get the form professionally looked at. I've always filled my FAFSA out myself, but I wasn't ever paying for most of my education before...

 

[PhotoMD]

How did everyone fill out their tax information and their parent's tax info without having this years W-2 forms yet? I want to fill this thing out ASAP, but can't really figure out how to do that.

Some employers (like, say, my University) post your YTD earnings and withholding on payday. This is all I made during the year, so there you have it.

 

[ZappBrannigan]

For stafford loans are you 100% sure your parents income (EFC) has no effect on the ammount of subsidized money you get ($8500 max) even if they are well off? Thats a big concern for me and it seems that no one has a distinct, clear answer to this puzzle. To add to this picture I basically need roughly $25,000 per year so clearly it will all be federal, but I want as much of it as possible to be subsidized for obvious reasons. I'm not sure if submitting parental information will have any benefit what-so-ever for me. (I don't believe MCG requires it, however i'm going to make a call to them tomorrow)

I found info from several different websites on this and parental info has no affect on stafford loans.

http://msaa.iusm.iu.edu/FAFSA%20on%20the%20Web%20Application%20Instructions.pdf#search='parental%20information%20and%20stafford%20loans%20for%20medical%20students'

 

[boardchic]

That link didn't work (at least for me), but the Pitt Med website has a chart on what aid considers parental contribution and what aid doesn't:
http://www.medschool.pitt.edu/offices/finaid/index.html

 

[flash]

retirement accounts are not reported as investments for you or your parents - FYI.

 

[drguy22]

I bet they would I am seriously considering having my parent's tax preparer do it because my financial situation is a little confusing (I'm in AmeriCorps VISTA and there's a ton of weird tax things because of that--like I don't pay payroll taxes or something. I don't know. See I'm already confused). But yeah, the point of the post is that it wouldn't be a bad idea to get the form professionally looked at. I've always filled my FAFSA out myself, but I wasn't ever paying for most of my education before...

i called my school and they told me that I DIDNT have to put my parents information. However, if i wanted to apply for disadvataged loans and such I would have to include my parents info.

 

[DrET]

How did you get your 2004 W2 form and 2004 income tax return? Do I have to file before I fill out my FAFSA?

 

[OSUdoc08]

How did you get your 2004 W2 form and 2004 income tax return? Do I have to file before I fill out my FAFSA?

No, you do not have to have that information. You can estimate the numbers and enter it in as a "correction" later on. You can indicate "will file at a later time" on the application.