FAFSA Correction

[SilverCat]

Hi,

So I received an email today stating that my FAFSA had been corrected by my school finaid office--now, instead of 0, the "Money Received" section shows around 5k. I've never taken loans before or had any income, so I have no idea why this happened. I called FAFSA and they can't tell me why it was done. Does this mean I'll receive less in loans? My school finaid office has been unresponsive all day.

Just frustrated. I'm apparently going to be taking out 30k in Grad Plus Loans in the first year, in addition to the Stafford Loans, and it really scares me.

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[DrMidlife]

Yeah that's a new requirement, I'm speculating, that the school has to proof your FAFSA against what you report for institutional aid. I got the same notice.

This has no impact on your ability to get federal loans. Rich and poor have the same access to federal loans for med school.

Your school will take your income into consideration for institutional aid. $5k is peanuts.

Of course this all assumes that we're not all screwed by the sequester, which is apparently now permanent.

 

[SilverCat]

Yeah that's a new requirement, I'm speculating, that the school has to proof your FAFSA against what you report for institutional aid. I got the same notice.

This has no impact on your ability to get federal loans. Rich and poor have the same access to federal loans for med school.

Your school will take your income into consideration for institutional aid. $5k is peanuts.

Of course this all assumes that we're not all screwed by the sequester, which is apparently now permanent.

I think the most disappointing thing was first thinking that this was a scholarship. I'm really regretting giving up my acceptance to that school that would be 15-20k cheaper, even if it would be a more stressful environment for me.

What is the sequester, by the way?

 

[DrMidlife]

What is the sequester, by the way?

While you were busy getting into med school, a budget committee put THE SEQUESTER together as a threat to Congress to design reasonable spending cuts instead of raising the national debt ceiling. If Congress failed, draconian austerity measures would be automatic.

Congress failed.

Federal funding has been slashed in ways that were never supposed to happen.

Actual real thing. http://en.wikipedia.org/wiki/Budget_sequestration_in_2013

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