Fin Aid and Marriage

[ConfusedTear]

If you have any insight at all, please let me know. Is your financial aid hugely affected if you get married while in dental school. Will that decrease the amount of financial aid you receive. Also if you are both in professional school does that help or hurt at all as far as financial aid goes. I ask this because I have a friend who's fiance' is pressuring her to marry him but she is afraid that she will not get as much money if she is married and does not want that to affect her aid? Any insight?

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[aggie-master]

I think it can hurt your aid if your husband/wife has a job.

In Texas, there is a need-based grant that we can get as professional students and I think they go off of your EFC from your FAFSA, which will be affected by your husband/wife's income. I might be a little off on the previous sentence and I also don't know how much that might affect someone that is not in Texas.

Honestly, if she really wants to marry the guy, then she should just do it. The possible negative impact that it will have on her financial aid package won't amount to enough to really matter in the end.

 

[lgwdnbdgr]

Honestly, if she really wants to marry the guy, then she should just do it. The possible negative impact that it will have on her financial aid package won't amount to enough to really matter in the end.

My understanding is that most of the aid is in the form of loans, so the difference probably isn't as huge as we're thinking. Plus, if they are married, he can claim her as a dependent and deduct some of her tuition expenses. It might still be cheaper in the long run to wait, but I'd agree with aggie-master -- it probably won't be cheaper by enough to prevent anybody from living their life the way they want.

Or so I hope, says the guy getting married 2 months before starting school.

 

[Cymbidium]

My understanding is that most of the aid is in the form of loans, so the difference probably isn't as huge as we're thinking. Plus, if they are married, he can claim her as a dependent and deduct some of her tuition expenses. It might still be cheaper in the long run to wait, but I'd agree with aggie-master -- it probably won't be cheaper by enough to prevent anybody from living their life the way they want.

Or so I hope, says the guy getting married 2 months before starting school. [/QUOTE]

Me too.

 

[aggie-master]

btw, I'm already married and my EFC was like 23,000 and I still got a need based grant and over half of my tuition is paid for by that and a scholarship that I got.

Also, we'll save a ton in income taxes with education credits and other stuff.

Overall, financially, I think I'm much better off going into school married than if I was single.

hth

 

[dentalman]

It is not hugely affected. You may not qualify for a grant, but you should still be able to take out the amount of loans that you need. And you can save $2000 in tax credits each year, which is like a little grant of its own. You will have to earn a lot before you pay that amount of tax. If you do, then you can earn the entire credit.

Don't let financial aid determine when anyone will get married. It's really not that important.

 

[reapply2007]

I was just looking at the financial aid forum. It's unbelievable how much money is available from private lenders. Of course, you'll need to pay it back. Marriage doesn't even put a dent in private loans.

 

[DentalKitty]

I agree with those above who say not to let the financial aid delay the marriage if that's what she really wants. I'm working full time while my husband is in law school, and we had no problem getting loans to finance all of his tuition plus some extra to supplement my salary. And the educational tax credit does help a little too. I see how being married may have an effect on need-based scholarships, but I thought for professional school these days those opportunities are few and far between. Lenders look at professional school as a good risk, and I don't think they have problems lending you what you need. It's just more money for them in the long run in interest!