FAFSA this year???

[toastedbutter]

Just saw this line in a communucation from a school regarding FAFSA this year: "Medical students will not be able to include parental information, however, all need-based grants and loan programs require parental financial information to be taken into consideration to be awarded."

I am really confused. If we can't include parent info, which is required, how are we supposed to proceed for financial aid consideration when FAFSA opens? Am I missing something?

---

Members don't see this ad.

 

[toastedbutter]

Oh I see. So no matter what it's not going to be a one size fits all approach this year, huh

Is there any point to submitting fin aid info to schools we haven't received IIs from by Dec 1? Certainly won't be submitting to schools I have received Rs from already.

 

[Angler]

I didn't do a deep dive into the new FAFSA, but there is a sample of what it'll look like. It seems that parents have their own login to enter information.

2024–25 FAFSA Prototype Now Available | Federal Student Aid - Financial Aid Toolkit

The FAFSA prototype offers you an advance opportunity to gain a deeper understanding of the 2024–25 FAFSA form user experience ahead of its release.

financialaidtoolkit.ed.gov

I also read in the WSJ Oct 30 (sorry behind a paywall) that, "Pretax contributions made to (parents) retirement accounts will no longer count as income in the formula that measures a family’s ability to pay for college, under changes to this year’s Free Application for Federal Student Aid, or Fafsa. The Education Department made the changes to simplify the form and ensure more aid goes to those who need it most."

I don't know if the parental login is not applicable for graduate studies?

 

[toastedbutter]

All the financial aid logistics and forms get me way more overwhelmed than any other part of the med school application process ಠ⁠︵⁠ಠ

 

[Angler]

All the financial aid logistics and forms get me way more overwhelmed than any other part of the med school application process ಠ⁠︵⁠ಠ

If you're going to go into medical practice, get used to this. It never ends.

 

[wysdoc]

Oh I see. So no matter what it's not going to be a one size fits all approach this year, huh

Is there any point to submitting fin aid info to schools we haven't received IIs from by Dec 1? Certainly won't be submitting to schools I have received Rs from already.

Only send your FAFSA info to schools that accepted or at least WL'd you.

The FA offices in most medical schools won't start working on things this early in the year - they will wait until there is more likelihood an applicant will matriculate (April or so).
Some applicants with multiple offers want to compare one school's offer against another's, but that's hard to do without complete information.

The extra confounding factor the year is the "simplified" FAFSA that has been in the works since last year will not be ready to fill out until December.
If you like to see the details about what will change, here's a fairly recent summary https://www.csac.ca.gov/sites/main/...summary_of_changes_for_the_2024-25_fafasa.pdf

 

[toastedbutter]

If you're going to go into medical practice, get used to this. It never ends.

Oh great

 

[toastedbutter]

(April or so).
Some applicants with multiple offers want to compare one school's offer against another's, but that's hard to do without complete information.

Sorry for clarification are you saying there's a smaller likelihood of us having a complete financial situation to use for comparison by the AAMC school choosing deadlines in April if that's when the schools will start working?

 

[wysdoc]

Sorry for clarification are you saying there's a smaller likelihood of us having a complete financial situation to use for comparison by the AAMC school choosing deadlines in April if that's when the schools will start working?

yes. Each school has its own timeline, though, so read carefully what they tell you and when they would like FA forms filled out.
Merit scholarship offers might be made earlier.
Financial aid need-based scholarships are much more common in college than in med school, so be aware of that as well.
Read about loans on FAFSA.gov - Med students are classified as Graduate Students https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized

 

[atriablack]

I'd start looking at FAFSA info and filling out the form in January. It won't be released until December anyways and most school won't start processing until February/Spring. The school FA sessions I have attended so far also echo this advice. FAFSA in January/Early 2024, and focus on school related forms after acceptance.

 

[eigen]

I will also note that this year FAFSA is going to be processed and to schools much later than usual, so that's going to (likely) significantly impact the timeline for financial aid offers for everyone.

Normally, it's release to schools in December... This year it's looking like February last I heard from our schools FA office.

 

[atriablack]

Got an update from a FA communication from a school: FAFSA will be available by December 31st this year. So definitely going to be later than usual.