Fafsa 2009

[Excelsius]

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sorry to beat this to death but: I submitted my fafsa with just my info (my parents are in puerto rico for a couple weeks). if whatever school i go to requires it, can i add their info by doing a correction?

Yes. Make sure you have log in information somewhere. Otherwise you can call and add the schools over the phone.

 

[ami1983]

soo.... we can only enter 10 schools? does anyone know if we will be able to add more later? i'm still hoping for interviews at some schools, and of course acceptances after that 🙂

 

[236116]

sorry to beat this to death but: I submitted my fafsa with just my info (my parents are in puerto rico for a couple weeks). if whatever school i go to requires it, can i add their info by doing a correction?

yup. you can correct anytime as long as the initial submission or prior correction has been processed.

 

[236116]

soo.... we can only enter 10 schools? does anyone know if we will be able to add more later? i'm still hoping for interviews at some schools, and of course acceptances after that 🙂

apparently, once your initial SAR has been processed, you can change the school codes and resubmit. i'd verify with FAFSA, though.

 

[SweetButterfly]

You use 2007 for the 08-09 (you have until June). If the info is the same, you can just use the same numbers for 09-10, or shift as necessary. Once you've done your taxes, you'll have to go back in and correct with the real numbers.

Thanks 👍 thats what i figured. Ive started filling it out. Im waiting to finish it up as soon as i get the rest of my parents info...

 

[235009]

u guys r ridiculous....you don't have to submit the FAFSA the first day it's available!! this isn't the AMCAS!

its probably a good idea to wait and actually put in accurate numbers. Most schools won't require it until march anyway so you are basically doing yourself a disservice by filling it out so early and having to correct and amend it.

You also really shouldn't be adding schools unless you've been accepted to them. You certainly shouldn't be adding schools you haven't even interviewed at yet!

sheesh!!

 

[chessknt]

Well I didn't apply to those and all my others are state schools. Thanks for the input tho
Also I'm 24, and have been independent since i graduated college, so according to dally and the fafsa worksheet i didn't. so maybe its different if youre still a dependent.

The reason for parental information is because, to quote several colleges, "just because you feel that you are independent doesnt mean that you can shift financial responsibility from your parents to the state." Basically your parents can afford it and absolve the state of responsibility for funding you via loans.

 

[ar2388]

u guys r ridiculous....you don't have to submit the FAFSA the first day it's available!! this isn't the AMCAS!

its probably a good idea to wait and actually put in accurate numbers. Most schools won't require it until march anyway so you are basically doing yourself a disservice by filling it out so early and having to correct and amend it.

You also really shouldn't be adding schools unless you've been accepted to them. You certainly shouldn't be adding schools you haven't even interviewed at yet!

sheesh!!

good advice.. we really dont need to be so crazy about the fafsa.

 

[TheElement]

It's sad how we still suffer from the TMDSAS/AMCAS syndrome. 😛

 

[justapremed]

really? :-/ I thought this was another one of those do-it-ASAP kind of applications. first come first serve - is it not?! my parents are really urging me to do this, like ... tomorrow. 🙁 but I'm pretty confused thus far.

 

[ami1983]

really? :-/ I thought this was another one of those do-it-ASAP kind of applications. first come first serve - is it not?! my parents are really urging me to do this, like ... tomorrow. 🙁 but I'm pretty confused thus far.

it is. they process financial aid in the order of when it is received, so if you wait until march to do it you will be behind lots of people. if you are anticipating any kind of need based aid, you have to do it early because when that aid is used up, there's no where else to turn. i've always done my FAFSA within the first 2 weeks of january. Thats why they let you use estimated numbers.

 

[235009]

it is. they process financial aid in the order of when it is received, so if you wait until march to do it you will be behind lots of people. if you are anticipating any kind of need based aid, you have to do it early because when that aid is used up, there's no where else to turn. i've always done my FAFSA within the first 2 weeks of january. Thats why they let you use estimated numbers.

^making stuff up

federal loans never run out...if you qualify you'll get it. institutional aid however will depend on the school but there is no way that a school will expect you to file financial aid forms before you are accepted! also they will make it very clear how they process financial aid apps and most schools will set a deadline and treat all applications that came before that deadline the same....no first come first serve.

 

[flip26]

From the sound of it, some of the people posting on this thread have never dealt with the FAFSA before, and that is odd since everyone here is at or near the end of college...

WTF?

 

[235009]

From the sound of it, some of the people posting on this thread have never dealt with the FAFSA before, and that is odd since everyone here is at or near the end of college...

WTF?

have u been reading the thread? some of these people's parents are pulling in 500,000-750,000 a year! they clearly didn't have to bother with financial aid like the rest of us poor folk.

 

[236116]

From the sound of it, some of the people posting on this thread have never dealt with the FAFSA before, and that is odd since everyone here is at or near the end of college...

WTF?

Probably the same kind of kiddo who gets their first w2 at residency. 🙄

 

[ami1983]

^making stuff up

federal loans never run out...if you qualify you'll get it. institutional aid however will depend on the school but there is no way that a school will expect you to file financial aid forms before you are accepted! also they will make it very clear how they process financial aid apps and most schools will set a deadline and treat all applications that came before that deadline the same....no first come first serve.

hello, i am talking about grants and need based aid, NOT loans in general. And yes, every school gets a set amount of need based aid such as Stafford loans. Also, each student has as set amount of federal loans they can borrow per year. That is word for word what my undergrad's finaid office told me multiple times. Once that runs out, people receive regular loans that are not subsidized, such as PLUS loans, or are expected to take out private loans. Although I am talking about undergrad finaid, I'm sure it is similar if not the same for professional schools. I did all 5 years of my undergrad finaid and 3 years so far of my younger brothers finaid. And I don't know what planet you are coming from, but when I applied to undergrad schools encouraged you to send your FAFSA info before you were accepted. They don't send you a financial aid package until you are accepted, however as mentioned before it is advantageous to fill this information out before because you are reviewed in the order of completion. If you don't believe me, fine, but I'm still filling out my forms this week. Fill yours out in March or April and tell me how that works for you. If anyone has serious doubts just call your schools financial aid office and ask them yourself. I'm simply relaying my 8+ years of experience of applying for and receiving financial aid.

Edit: I am speaking from a need-based point - I have no idea what people do if they don't qualify for need based aid. But the early application still stands.

 

[236116]

^ my experience as well. ASAP for best consideration.

 

[Kaustikos]

Probably the same kind of kiddo who gets their first w2 at residency. 🙄

W2?

What's that?😕

 

[ar2388]

i am going to have to disagree with the ASAP. especialyl for non rolling schools! when i was at upenn i had about an hour to kill so i decided to talk to the fin aid office and the lady said that yes, if i want to i can fill out the fafsa early but it is really not necessary to fill it out before march. filling it out before will not change anything, need based or not (and i am someone who will be relying on need based aid)

also, grants, like in undergrad, dont really exist for med school from what i understand. also, the enrollment in med school is so much less in undergrad, and they pretty much know exactly how many people they enroll, so i am sure they can tell the fed gov how many loans they will need before hand anyway. its only like ~150 ppl per school and not all of them will qualify anyway.

 

[nina7123]

All the schools I've interviewed at have said "Don't wait until you're accepted to apply for financial aid. Fill out your FAFSA early." I don't know how any of this works but I'm gonna go with doing it early...

 

[ar2388]

All the schools I've interviewed at have said "Don't wait until you're accepted to apply for financial aid. Fill out your FAFSA early." I don't know how any of this works but I'm gonna go with doing it early...

i figured doing it in feb still counts as early lol

 

[gatorguy]

From the sound of it, some of the people posting on this thread have never dealt with the FAFSA before, and that is odd since everyone here is at or near the end of college...

WTF?

This is my first time even looking at Fafsa so I'm a little new and confused with it. My parents didn't help me pay for anything though, I was on a full tuition bright futures scholarship in Florida.

Also, all of the schools I interviewed at made a specific point of telling us to file our Fafsa's as early as possible, one even said Jan. 1st if we can. I don't think you have to wait until you're accepted to fill it out. For me I'm lucky enough to have been accepted at a few places so I'm gonna go ahead and submit it today or tomorrow. The way I see it there is no harm in filling it out early, while there is a possible drawback from what I've heard if you file late.

 

[SweetButterfly]

From the sound of it, some of the people posting on this thread have never dealt with the FAFSA before, and that is odd since everyone here is at or near the end of college...

WTF?

yeah i never qualified until now. moved to the states 7 years ago and i just became a permanent resident in august.

 

[shnuffles]

I have no problem with doing the FAFSA, but I hate having to coordinate with my parents (who have never supported me). At least I only have to do this four times...

Yesss...just started reading the thread so please don't flame me. But not getting any financial support from the rents throughout college is especially frustrating this year...

Yes, my mom is a PA so she makes "enough" money, but certainly not enough to pay for my tuition in addition to the living expenses for my two brothers with autism! Give me a break, and let me get some work study for my research!!!!!!

 

[Dr Lyss]

wow... multiple people with parents that make 500k+ a year. I barely knew that was possible. thats insane! Can your families adopt me?



either way I won't be getting any aid

 

[vadd0]

Yesss...just started reading the thread so please don't flame me. But not getting any financial support from the rents throughout college is especially frustrating this year...

Yes, my mom is a PA so she makes "enough" money, but certainly not enough to pay for my tuition in addition to the living expenses for my two brothers with autism! Give me a break, and let me get some work study for my research!!!!!!

My mom is welfare bound, so I have to always explain how she lives on such little money. My dad owns a small, unsuccessful business, so I do not know how his finances even work. I hate

 

[funkymunkytoes]

Expected Family Contribution: $8,000.00


Hmmmmmm.....

 

[copingmethods]

I was looking up FAFSA school codes, and saw the Pitt School of Medicine has it's own code (separate from the undergrad), but UCLA School of Medicine doesn't seem to have it's own. Should I just use the UCLA code listed?

 

[Decicco]

If our parents will be paying for medical school, do we need to fill out FAFSA? I thought the answer was no, but I got an email from Pitt that seems to suggest otherwise.

Anyone?

 

[ami1983]

I was looking up FAFSA school codes, and saw the Pitt School of Medicine has it's own code (separate from the undergrad), but UCLA School of Medicine doesn't seem to have it's own. Should I just use the UCLA code listed?

I would go to each school's website and look up the code on their finaid page. I just picked the code for NYU from the FAFSA website and then I got an email from NYUSOM saying I had chosen the wrong code and I had to redo it. Check the packet they give you on interview day too.

 

[GoSpursGo]

Yeah, I know my parents make too much for me to get need-based aid, and luckily it seems like Baylor only requires parents' info if you're looking for need-based stuff. But my parents want me to take out loans for med school and live off those; so I guess I'll make do with whatever non-need-based stuff I can get.

 

[Fp02c]

I just submitted my FAFSA. How did some of you guys find out your Expected Family Contribution?

 

[ami1983]

I just submitted my FAFSA. How did some of you guys find out your Expected Family Contribution?

when they process it, your SAR lists it at the end.

 

[dynezxice]

wow... multiple people with parents that make 500k+ a year. I barely knew that was possible. thats insane! Can your families adopt me?



either way I won't be getting any aid

None at all? I thought Cornell gives out fin aid, both merit and need-based.

 

[dynezxice]

soo.... we can only enter 10 schools? does anyone know if we will be able to add more later? i'm still hoping for interviews at some schools, and of course acceptances after that 🙂

When each school receives your fafsa, do they actually see the list of schools you entered?

 

[TMP-SMX]

I'll lend my hand in this thread that should be in the financial aid forum. Your answers are also in that forum. For example, you should just send in the FAFSA again after you get your SAR to different schools from the original list you had if you want to send it in to more schools. Another point of confusion is that besides grad-plus loans, you can get federal loans no matter how poor your credit score is. The last major point of confusion is that federal loans do run out per year and also through your educational career. Perkins federal loans are need-based and schools decide who gets them. They only have a limited budget to give out. Your maximum amount of staffords you can take out through a normal 9 month med school year is $40,500 $8500 of which is subsidized the rest being unsubsidized. After you reach the Stafford max in a year you can borrow as much Grad Plus/Private loans as you want (if your credit isn't dismal) up to your cost of attendance (CoA) set by your school. If your cost of attendance doesn't meet your need as per your budget you can usually talk to your school to increase it. Your aggregate Stafford limit for all of your education is $224,000 maximum as of now. Who knows if that may change in the future as tuition skyrockets.

You should really at least put in estimated numbers in the FAFSA ASAP. You can use numbers from 2007 taxes if nothing has changed that much. That said, it should be updated as soon as your actual taxes are filed. You certainly don't have to apply in January, but I'd recommend you do it before the priority deadline in March (depends on the state). I've seen states have a priority deadline as early as Feb 15. Many schools have deadlines for scholarships in March and require your finalized FAFSA to be on file by then. Keep in mind that as the spring comes and then later in the year you have to make financial aid decisions and accept scholarship offers or you may lose them. So those of you thinking between schools may have to make a decision earlier than normal. Keep in mind that need-based loans are first-come first-serve so there are others that need the loans. If you hold up the process you may lose out.

Next issue is parental information. You should fill out parental info if you want scholarships, institutional, or need-based aid at most schools. It can't hurt you and it doesn't count for your official EFC as a professional student. As long as your CoA (cost of attendance) - personal EFC is below $32,000 you will get the full $8500 in subsidized stafford loans regardless of when you apply. These are not really considered need-based aid that requires parental information. However, things like Perkins loans (5% maximum $5000 per year), institutional grants, or scholarships do require parental information in most cases.

Next is dependency for taxes vs. FAFSA. They are not related. If you have started your FAFSA already you would know the difference. If you are going to medical school you are automatically considered an independent for FAFSA purposes. If you are applying for the FAFSA as an undergrad you would have to be turning 24 in the next year, have been in the military, or pregnant in order to be considered independent. So you can't try to scheme the system to get more loans as everyone is an independent for the FAFSA in graduate school.

Last issue is the EFC. The FAFSA EFC for professional students only includes your personal income/savings numbers. It is automatically 0 if you file a 1040EZ. The only people that can't file that have an income that is too high or too much in investments. Parental plus personal income has to be estimated in order to find out your eligibility for need-based aid like Perkins loans. At Wayne, their cut off is $18,000 personal and parental EFC. It may be different for other schools so check with your financial aid office. It is also wise to shield your savings in accounts that are not part of the calculation or give it to a friend before you file your FAFSA though you didn't hear this from me. Also, student loans are not considered part of this calculation so if your entire savings/checking account is in loans your number in savings/checking is 0. Again, it only matters if you are close to that 18k borderline.

Any specific questions I recommend you post in the financial aid forum if you want better responses. Sorry for a tome but I know these issues are confusing and many of you are worrying about loans for the first time. If you have a question I can answer your post in the finaid forum or send me a PM.

 

[funkymunkytoes]

Last issue is the EFC. The FAFSA EFC for professional students only includes your personal income/savings numbers. It is automatically 0 if you file a 1040EZ. The only people that can't file that have an income that is too high or too much in investments. Parental plus personal income has to be estimated in order to find out your eligibility for need-based aid like Perkins loans. At Wayne, their cut off is $18,000 personal and parental EFC. It may be different for other schools so check with your financial aid office. It is also wise to shield your savings in accounts that are not part of the calculation or give it to a friend before you file your FAFSA though you didn't hear this from me. Also, student loans are not considered part of this calculation so if your entire savings/checking account is in loans your number in savings/checking is 0. Again, it only matters if you are close to that 18k borderline.

How did you come to that conclusion? I am eligible to file a 1040EZ, yet my Expected Family Contribution is around 8,000 bucks.

 

[TMP-SMX]

How did you come to that conclusion? I am eligible to file a 1040EZ, yet my Expected Family Contribution is around 8,000 bucks.

Is this the official EFC on your SAR for 2009-2010 for medical school? Hmm. I'm looking at the 2009-2010 document and apparently it is only for indepdendent students with dependents other than a spouse and you must make less than $30,000. However, it is not applicable to independents without dependents.

If the 8k is this year's EFC for you going to med school then you will still get the full $8500 in sub Staffords.

Either way, you can read up on it:

http://studentaid.ed.gov/students/attachments/siteresources/0910EFCFormulaGuide111408Attach.pdf

 

[ami1983]

How did you come to that conclusion? I am eligible to file a 1040EZ, yet my Expected Family Contribution is around 8,000 bucks.

ditto, but my EFC is higher

 

[TMP-SMX]

You must have a lot in savings or you made quite a bit of money. Either way, it doesn't matter unless your EFC starts getting into the range of 30k or you have a low CoA. If you do have a low CoA then in the end it is better for you. Remember, that the high EFCs are only going to be for your first year as the only money in your bank accounts from now on are going to be loan money and your income is going to be 0. So for your last three years will have an EFC of 0 unless your spouse is raking in major dough. In that case good for you.

Keep in mind, no matter how high your EFC is you will get the full 40,500 in Stafford loans. The only difference is whether or not you can get $8500 of that in subsidized loans.

 

[iA-MD2013]

Next is dependency for taxes vs. FAFSA. They are not related. If you have started your FAFSA already you would know the difference. If you are going to medical school you are automatically considered an independent for FAFSA purposes. If you are applying for the FAFSA as an undergrad you would have to be turning 24 in the next year, have been in the military, or pregnant in order to be considered independent. So you can't try to scheme the system to get more loans as everyone is an independent for the FAFSA in graduate school.

So if my parents claim me as a dependent for tax purposes, it won't affect my finaid package?

According to UC schools you are considered financially independent only if you are going to graduate/professional school and are not claimed as a dependent.

 

[GoSpursGo]

So if my parents claim me as a dependent for tax purposes, it won't affect my finaid package?

According to UC schools you are considered financially independent only if you are going to graduate/professional school and are not claimed as a dependent.

I'd guess that you are considered financially independent only if you are going to grad/prof school OR are not claimed as a dependent. It seemed pretty cut-and-dried when I read the instructions.

 

[JackInTheBox]

So if my parents claim me as a dependent for tax purposes, it won't affect my finaid package?

According to UC schools you are considered financially independent only if you are going to graduate/professional school and are not claimed as a dependent.

For the purposes of FAFSA and the government loans, it's if you can answer yes to any of a bunch of questions, one of which asks if you're going to graduate/professional school.

 

[Decicco]

Sorry to ask this again, but I'm a bit confused. Is the FAFSA required? If, for example, my parents were going to pay for medical school and thus I don't expect financial aid, do I still need to fill it out?

 

[DrSno]

*Found out the answer to my first question*

One other question: I haven't worked enough to file taxes, so will that help me to get more/better loans since I'm in need of the money?

 

[DrSno]

Sorry to ask this again, but I'm a bit confused. Is the FAFSA required? If, for example, my parents were going to pay for medical school and thus I don't expect financial aid, do I still need to fill it out?

Why would you need to fill it out if you don't want any loans/grants? I assume it is the same as undergrad, only fill it out if you need to.

 

[TMP-SMX]

You can use the previous tax year as an estimate to get your FAFSA filed early then do a correction FAFSA when the taxes are ready.

As for whether or not you should file the FAFSA I want you to think about something. You are likely eligible for the full $8500 in subsidized Stafford loans each year. As I said, your parental information plays no role in this calculation. If your parents are going to fully pay your tuition and cost of living (can I be adopted) then you might as well take out the subsidized portion as no interest is gained until you are out of school. You can easily invest that money or use it for some other purpose. However, make sure you pay it off before interest starts to be generated.

From the FAFSA. If you answer yes to any of these you are independent for the FAFSA:

Were you born before January 1, 1986 (question 48)?
As of today, are you married? (Answer "Yes" if you are separated, but not divorced.) (question 49)
At the beginning of the 2009-2010 school year, will you be working on a master's or doctorate program (such as an MA, MBA, MD, JD, PhD, EdD, or graduate certificate, etc.) (question 50)? ALL MED STUDENTS
Are you currently serving on active duty in the U.S. Armed Forces for purposes other than training (question 51)?
Are you a veteran of the U.S. Armed Forces (question 52)?

 

[Decicco]

If your parents are going to fully pay your tuition and cost of living (can I be adopted) then you might as well take out the subsidized portion as no interest is gained until you are out of school. You can easily invest that money or use it for some other purpose.

I could put it in a CD and make maybe 2-3% a year, minus comissions. I'm not sure if that is worth the effort. I could put it in the stock market and actually lose money.

 

[TheElement]

The only thing I have right now is my W2, however my finances are kinda messed up. My parents put some money under my name so will I have to wait until those forms come in too or can I just estimate it? This wasn't done for the previous year so I wouldn't know how to estimate it. Everyone seems to be saying FILE NOW so I'm getting anxious.

 

[Isis24]

Do you still include your parents' income if they filed taxes outside of the U.S.?

My dad lives in a country where people don't even file taxes...What do I do about that..?