- Joined
- Jun 25, 2015
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Hey everyone!
I have been working for the past two years and have decided to either quit my job or take a 'leave of absence' for a year in order to finish up prerequisite courses before applying to medical school.
I'm currently in a well paying job in consulting, and by the time I leave will have saved up close to $50,000. I thought I was being fiscally responsible, given how expensive med school will be, but as I have been reading up a bit more I'm actually learning that having savings can really screw you over when it comes to applying to financial aid.
I am not very knowledgeable when it comes to how schools calculate financial aid or how I can reduce the amount of savings I declare when applying so I have a lot of basic questions.
I know that some people have suggested putting savings into mortgages/car payments as those will not be looked at, but are there any other ways to ensure that all of my savings don't go to waste by taking away my ability to get financial aid?
In addition, what are the stipulations for when parent salary is looked at vs. my salary alone?
For those of you who came into med school with savings, what was your experience with being able to get additional financial aid?
I have been working for the past two years and have decided to either quit my job or take a 'leave of absence' for a year in order to finish up prerequisite courses before applying to medical school.
I'm currently in a well paying job in consulting, and by the time I leave will have saved up close to $50,000. I thought I was being fiscally responsible, given how expensive med school will be, but as I have been reading up a bit more I'm actually learning that having savings can really screw you over when it comes to applying to financial aid.
I am not very knowledgeable when it comes to how schools calculate financial aid or how I can reduce the amount of savings I declare when applying so I have a lot of basic questions.
I know that some people have suggested putting savings into mortgages/car payments as those will not be looked at, but are there any other ways to ensure that all of my savings don't go to waste by taking away my ability to get financial aid?
In addition, what are the stipulations for when parent salary is looked at vs. my salary alone?
For those of you who came into med school with savings, what was your experience with being able to get additional financial aid?