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FAFSA and the *real* EFC

Discussion in 'Pre-Medical - MD' started by sorrento, Feb 8, 2002.

  1. sorrento

    sorrento Senior Member
    7+ Year Member

    Dec 13, 2001
    Likes Received:
    Here's a helpful hint from the financial aid guy at Wash U:

    We all know that despite being viewed as financially independent according to FAFSA, most schools will take into account parental income. So, if you want to get an idea of how much that calculation might be, you can run through the FAFSA as an UNDERGRADUATE student, including parents' income, etc. You should arrive at an EFC that is closer to reality (i.e., including parents' $$)than the EFC of $0 many of us have because we are poorly paid/not working etc etc. Granted, it isn't foolproof, since different schools make slightly different calculations.(goes without saying that you then have to fix the FAFSA to reflect professional degree status before submitting.)

    Don't hate me if this doesn't work! I don't have all my tax info yet so couldn't try it before posting, but since the advice came from a reputable source, I thought I'd pass it along nonetheless.
  2. SMW

    SMW Grand Member
    7+ Year Member

    Jul 12, 2001
    Likes Received:
    This may give you an idea of whether you can expect any need based aid from med schools. But Stafford loans are given out based on the FAFSA EFC (where family = independant student). I've been told that everybody gets the maximum in Stafford loans, no matter what.

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