financial aid newbie, Q on fafsa

Discussion in 'Financial Aid' started by nrddct, Apr 26, 2004.

  1. nrddct

    nrddct carlover
    7+ Year Member

    Joined:
    Mar 20, 2003
    Messages:
    496
    Likes Received:
    2
    Status:
    Medical Student
    On the fafsa application, if I consider myself an independant, is it still advisable to fill out my parents financial info?

    The form says its advisable for health professions students. What difference will it make if I'm applying for a post bacc program? And if I leave my parents info out?

    Also on the unsubsidized stafford loan, what kind of interest rate are we looking at? Can you use the subsidized loan to pay the interest on the unsubsidized stafford loan?

    thanks
     
  2. hakksar

    hakksar Senior Member
    7+ Year Member

    Joined:
    Feb 12, 2004
    Messages:
    362
    Likes Received:
    0
    Status:
    Resident [Any Field]
    Yeah, unless you know your school will not require it. A lot of Private schools etc require parental info on your fafsa despite the fact that you are independant. I was lucky in that CU does not require parental data for independant students so I opted not to fill that part out. However, if I went to Jefferson, Drexel, etc I would of had to fill out parental info.
     
  3. gaf

    gaf Senior Member
    5+ Year Member

    Joined:
    Apr 22, 2004
    Messages:
    166
    Likes Received:
    0
    You have to list your parents' info to be eligible for student loan programs administrered under the authority of Title VII of the Public Health Service Act.

    "The Health Professions Student Loan program provides long-term, low interest rate loans to full-time, financially needy students to pursue a degree in dentistry, optometry, pharmacy, podiatric medicine, or veterinary medicine."
    -http://bhpr.hrsa.gov/dsa/hpsl.htm
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
  4. mpp

    mpp SDN Moderator
    Moderator Emeritus 10+ Year Member

    Joined:
    Jan 17, 2001
    Messages:
    3,398
    Likes Received:
    16
    Status:
    Resident [Any Field]
    A post-bac program would not likely fall into the Public Health Service category
    Your best bet is to contact the program and see if they require parental information. They may have some institutional aid available that requires parental information. If they do not have institutional aid available or do not require parental information then you'll be fine and should be eligible for some Stafford loan money and perhaps other federal aid.
     
  5. nrddct

    nrddct carlover
    7+ Year Member

    Joined:
    Mar 20, 2003
    Messages:
    496
    Likes Received:
    2
    Status:
    Medical Student
    I was wondering if we can use loan money to pay off other loans? such as car payments? or credit card? I know its not the greatest idea but I don't have anyother form of financial support.

    I have about 3k in credit card debt that I'm trying to pay off this summer but incase I don't, just wondering what my options are. Thanks.

    Dave.
     
  6. mpp

    mpp SDN Moderator
    Moderator Emeritus 10+ Year Member

    Joined:
    Jan 17, 2001
    Messages:
    3,398
    Likes Received:
    16
    Status:
    Resident [Any Field]
    Although they won't loan you money for that purpose, nor are you allowed to under the regulations, many people do use extra student loan money for expenses such as credit card debt.
     
  7. abbaroodle

    abbaroodle Member
    10+ Year Member

    Joined:
    May 11, 2004
    Messages:
    230
    Likes Received:
    0
    They dont ask you how you use the money - that's up to you. However, be careful about using it to pay off other debt - if you end up running out of money at the end of the semester or year, you probably will have trouble getting more.
     

Share This Page