Financial Aid - for everyone?

[Spiderman [RNA Ladder 2003]]

I was just wondering, how much of financial aid if any people usually get. Is it the deal as with undergrad where most of people get scholarships/grants? In that case being an ntr student is an advantage in the eye of med school because the schools know that we will have to pull the whole tuition.

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[KU Brendan]

Med school is a bit different since you qualify for a lot more aid from the government and generally don't have to consider your family into the equation. Each school tells the government how much school should cost (this is usually a highly inflated number that takes into account every single book that you could buy, money for haircuts and movies each month, etc.). The government then has to come up with most of the amount minus however much you gain from scholarships. And no, it's not like undergrad where everyone has lots of scholarship and grant money by any means--most don't.

What you have to consider (and be careful about) is what TYPE of loans you take out. Subsidized loans are ones where the government "pays" the interest while you are in school. Unsubsidized loans are ones where the interest accrues while you're in school. There's so much more to say about this all, but that isn't what you asked about, so I'll spare you.

Each school is different, though, so you'll want to talk to the financial aid people at the school of your choosing. The schools don't care what type of student you are since they will get paid the same regardless of your situation--whether you are paying them out of pocket or from loans.

I hope that helps and answers your question!

--Brendan--
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[paean]

Lots of answers can be found in the financial aid forum, including what you seek. Join us there.