Fafsa Fafsa Fafsa!!

[Dr.BadVibes]

Alright, so I JUST sent in my FAFSA information....since I only need gov't loans, I didnt put any of my parents info, and since I dont have a job, the application was a whole bunch of zeros!!! (I felt like a bum)

ANyways, my question to you guys is...NOW WHAT!?!?!

When am I gonna find out how much money I get? I really wanna buy a house in Philadelphia in the next couple of months, but only when I find out for sure that I will recieve the loan money from the government to pay for my tuition and instruments in September...will I get some sort of confirmation stating I will recieve $38,500 when school starts? Cheers!

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[DORoe]

Ok first you will recieve a thing that says what the fafsa says your EFC is which is expected family contribution, next the school will send you your financial aid award letter and that is the official amount they are going to give you. If your EFC is 0 which i would expect it to be you will be getting the full amount allowed i would think.

 

[Dr.BadVibes]

Yah, FAFSA has indicated that my EFC is 0, but when is the "usual" time for the school to send me my financial aid award??

 

[mpp]

Usually within the first few weeks of school. Don't count on getting any money before school starts. But the best way to find out is to talk to the financial aid office at the school.

 

[wise146]

I was told that since I am married, my parent's FA info. does not need to be included on the FAFSA. I think I was told the opposite in this forum.

 

[mpp]

Originally posted by wise146
I was told that since I am married, my parent's FA info. does not need to be included on the FAFSA. I think I was told the opposite in this forum.

No parental information is needed for medical students to get Stafford loans. However, many schools request parental information on the FAFSA so that they can determine eligibility for other types of aid (private loans and institutional grants). Some schools may take exceptions to those that are married or over a certain age. Other schools do not and require everyone, regardless of marital status or age, to include parental information on the FAFSA to be eligible for non-federal aid.

 

[marydee]

okay, I'm in a different situation that the OP. I don't have any debt from undergrad but I'll need to borrow pretty much every penny for med school. My question is (since I know literally nothing about the fafsa and loans) shall I fill the fafsa WITH my parents info or leave that part blank. If I include my parent info my application will look like I don't need money -- but they have already told me they will not pay for my medical education. (not because they don't love me -- they say it's time past due I realize where every dollar comes from) So ....... I am not sure how to handle my fafsa. Secondly, their income tax isn't done anyway so should I wait needlessly for their income statements when it won't effect me anyway? I know I have lots to learn and I thank "mpp" for helping us newbies.

 

[Amy B]

Hi all,

My school told me they wanted the parents stuff, so I included it although I am 37 and my parents haven't done anything financially for years and years. I hated asking them about the finances though. It felt awkward. It didn't matter because they aren't rolling in the dough. ANd even though my EFC was $23,000, when I called my school she said the EFC won't affect my cash amount.

My school said we get our money on the second day of classes and not a minute sooner.

If you contact the school, they should be able to provide you a "Estimated Tuition and Living expenses" Worksheet. My school sent me one that has every thing they allow a student to spend and how much they can get due to these expenses. For ex: rent @$580, electric $80, food, eating out, internet service, garbage, etc per month. They had everything down that they felt was resonable for a student in med school.

When I called them, she told me we get a check minus the tuitiion and have to make it last for the whole year. They don't hold any money back and she said the student must budget that $23,000 over the school year and summer.

$23,000 is the max they will send to you. If you need more, you have to go through private loans, which are alos out there and will defer payment until you are done with school.

So , when in doubt, call your school and ask them. They know more about your actual situation. Although we SDNers are really smart and know everything

 

[DoctorWannaBe]

I've submitted my FAFSA and received my EFC on the internet. Do I just wait around now for my schools to send my financial aid package, or is there anything to do in the meantime?

 

[Amy B]

Originally posted by DoctorWannaBe
I've submitted my FAFSA and received my EFC on the internet. Do I just wait around now for my schools to send my financial aid package, or is there anything to do in the meantime?

Have you notified any of those schools that you will be coming and have you paid them a deposit yet? If so then they will send you any papaerwork you need to fill out, otherewise you just wait till they send you your financial aid letter with the amounts you will receive based on your FAFSA and the amounts they have determined thier students need to live on. You can then decide on if you wnat to accept any or all of that amount.

 

[Adapt]

Originally posted by marydee
okay, I'm in a different situation that the OP. I don't have any debt from undergrad but I'll need to borrow pretty much every penny for med school. My question is (since I know literally nothing about the fafsa and loans) shall I fill the fafsa WITH my parents info or leave that part blank. If I include my parent info my application will look like I don't need money -- but they have already told me they will not pay for my medical education. (not because they don't love me -- they say it's time past due I realize where every dollar comes from) So ....... I am not sure how to handle my fafsa. Secondly, their income tax isn't done anyway so should I wait needlessly for their income statements when it won't effect me anyway? I know I have lots to learn and I thank "mpp" for helping us newbies.

This is exactly my situation. The thing is, some schools need your parents' info regardless if you want to put it or not. However, with schools that don't need it, I say don't put it. My parents make a good amount of money so I figure I won't get aid anyway.

As I understand it, your parents' info has no bearing on how much subsidized vs unsubsidized loans you will get. It only affects if you will get grants. I'm not sure if this is true but I went ahead and did not put my parents' info anyway. I'm hoping they will see that I'm dirt poor and give me some more aid.

Cheers to a large debt...

 

[marydee]

Slickness,
did you mean you did not put the info on the fafsa or not put the info on the indivdual med school forms or neither?

 

[Adapt]

Originally posted by marydee
Slickness,
did you mean you did not put the info on the fafsa or not put the info on the indivdual med school forms or neither?

I did not put it on the fafsa. I haven't received any forms yet, but when I do I plan not to include it either unless it says that it's required.

 

[wise146]

Does it matter if you make a few corrections to the FAFSA online. I had to amend my application a couple of times because of mistakes and differenct advice that has been given me. Will my application be flaged by the government and then I will have to supply supporting materials or is this common???

 

[lotanna]

Originally posted by Slickness
This is exactly my situation. The thing is, some schools need your parents' info regardless if you want to put it or not. However, with schools that don't need it, I say don't put it. My parents make a good amount of money so I figure I won't get aid anyway.

As I understand it, your parents' info has no bearing on how much subsidized vs unsubsidized loans you will get. It only affects if you will get grants. I'm not sure if this is true but I went ahead and did not put my parents' info anyway. I'm hoping they will see that I'm dirt poor and give me some more aid.

Cheers to a large debt...

same thing here, my schl doesnt require parental info, plus parent's income would MESS me up anyway
Well I came out of undergrad and masters owing nothing so thats wonderful!!
So cheers to owing Uncle Sam some benjamins

 

[DORoe]

This is exactly my situation. The thing is, some schools need your parents' info regardless if you want to put it or not. However, with schools that don't need it, I say don't put it. My parents make a good amount of money so I figure I won't get aid anyway.

Not true you should still get aid as long as YOU don't make like $80,000 right now. When you are in medical school you are automatically considered independent by the federal government. You can put your parental info on it but you will get aid based on your oncome alone. Some schools ask for parental information so they can consider you for institutional scholarships and the like. You should have no problem getting aid even if your parents make a fairly large amount of money.

 

[Adapt]

Originally posted by DORoe
Not true you should still get aid as long as YOU don't make like $80,000 right now. When you are in medical school you are automatically considered independent by the federal government. You can put your parental info on it but you will get aid based on your oncome alone. Some schools ask for parental information so they can consider you for institutional scholarships and the like. You should have no problem getting aid even if your parents make a fairly large amount of money.

Yes I've heard this point of view and I alluded to it in the second paragraph of that post that you left out . I'm not sure what to believe. In either case, usually the grants are for the more needy people so I don't think I would have received that kind of aid anyway. Also, it was a lot easier just to fill out my information which was basically nothing then include my parents' info which would have taken forever to do.

 

[ms. a]

Originally posted by DORoe
Ok first you will recieve a thing that says what the fafsa says your EFC is which is expected family contribution, next the school will send you your financial aid award letter and that is the official amount they are going to give you. If your EFC is 0 which i would expect it to be you will be getting the full amount allowed i would think.

So what if my EFC is WAY over the amount of tuition at my school? Does that pretty much mean I get zilch for financial aid?

 

[mpp]

Well it would depend on what the annual school budget is which includes tuition, fees, and living expenses. If your EFC is over that then you will still be eligible for unsubsidized Stafford loans. You will likely not be eligible for subsidized loans or grants.

 

[MNgrrl]

For people who have taken time off to work before med school - will the Fafsa take into consideration that you won't have any income when you are in med school???

They probably do, I just don't understand how it works. I am worried I won't get aid because I of how much I made this year working full time, but I won't be working in med school.

Can someone explain this to me? Thanks!

 

[MALA]

To add onto your question, I'm going to be in the same boat once I enter Pharm School. I work F/T now, I'm wondering if it's going to be a little rough to find Fin. Aid that first year, and then the second year when I'm not working and totally poor, maybe it'll be easier to get more $$?

 

[Amy B]

I would totally suggest that you all call your financial aid offices with these questions. I was sooooooo freaking out about what I was going to get due to my husband's salary. After talking to the financial aid lady, I have now been able to sleep at night again.

SHe said my EFC wasn't going to even come into play. She said it was no where near high enough to worry about it (it is $23,000). She said they have laid out a budget of all expenses and amounts that all students could get from them. It comes out to around $23,000 AFTER tuition. In other words the max they will give you is $23,000. If you want more you have to go through a private lender.

But each student is able to recieve $23,000. Now my school is in a small town so that is more than enough to make it. The bad thing for students that can't budget their money is my school gives it all to you the first week of school so you have to make it last through the year. I know other schools give it to you in 2 payments, although that also has its negative. My friend is always struggling leading up to that 2nd payment.

 

[MALA]

Thanks Amy. Was that 23K for the entire year? or just a semester? I'm going to (well I'm planning and I'm hoping) do an Accelerated program where I go 3 full years- spring, summer and fall. The tuition is 29K per year for this- that's just tuition.
So I'm just trying to get an idea now for the near future.

 

[Amy B]

Hi, My tuition is also $29,000 per year, but I have to go 4 years. Private schools are expensive.

The $23,000 is for the whole year. You get it in August and and it has to last for the whole school year.