Financial Aid for Med School

[monkeyMD]

Why does the need for financial aid also depend on your parent's earnings if you yourself alone will be paying for your medical education? I'm sure this is a question often asked but any input would be appreciated.

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[Neurocentric]

Why does the need for financial aid also depend on your parent's earnings if you yourself alone will be paying for your medical education? I'm sure this is a question often asked but any input would be appreciated.

Don't quote me, but I think the parent's earnings only has to do if you're going to get institutional aid through the medical school. If you're over 24 (or other certain aspects) the FAFSA form does not require you to put your parent's earnings in.

I'm 26, and even though I'd been living away from my parents since I was 19, I did not get financial aid until I was 24.

 

[GetThePointe77]

Due to this some schools do not even look at your parents financial situation even if you include them on the FAFSA, if you call up the individual school youre looking for aid from a lot of times they will tell you not to bother as they dont need it.

 

[Beekachu]

One way it was explained to me is that... you apply for financial aid each year, and once people become medical students everyone makes $0 per year, essential. So one reasonable way to distinguish needy students is through family income information. It's imperfect in some ways, but maybe the most fair way.

 

[monkeyMD]

Don't quote me, but I think the parent's earnings only has to do if you're going to get institutional aid through the medical school. If you're over 24 (or other certain aspects) the FAFSA form does not require you to put your parent's earnings in.

I'm 26, and even though I'd been living away from my parents since I was 19, I did not get financial aid until I was 24.

So, your parent's financial info matters only until you turn 24?
Didn't know about that at all...

 

[nadaba]

So, your parent's financial info matters only until you turn 24?
Didn't know about that at all...

If you want need/institutional aid, your parent financial info pretty much always matters. There are very few exceptions.

edit: well, I guess this is what he was saying a few posts up
edit edit: I don't think parental info is ever REQUIRED, even if you're under 24. If you don't provide it, you'll just be getting all loans.