financial aid question (dependency status)

[luckyducky87]

If a school considers me "independent" from parents (and they count me as "independent" when it comes to any institutional grants or loans), does anyone know if that's advantageous or not? (if it affects my financial package in some way, that is)

---

Members don't see this ad.

 

[searun]

If a school considers me "independent" from parents (and they count me as "independent" when it comes to any institutional grants or loans), does anyone know if that's advantageous or not? (if it affects my financial package in some way, that is)

Generally, med schools will require detailed financial information about your parents (such as federal tax returns) if you want to be considered for needs based grants directly from the med school itself. They want to know if you are a rich kid, even if you are in your late twenties and have supported yourself for years.

If you do not provide your parents' financial information, you will not receive any consideration for access to the schools endowment funds and scholarships. You will still be eligible for federal loans, and presumably merit scholarships without involving your parents.

My entire med school tuition was paid by needs based grants from my private med school - and my parents were delighted to provide their tax returns - yeah, my Dad is not Donald Trump, nor even a lowly surgeon.

 

[luckyducky87]

I understand that medical schools want to know my parents' finances, which is why all med schools ask you to fill out parents' information on the FAFSA... But it seems that at Feinberg, the institution itself has its own criteria to judge "independent" status, and if I qualify (which I do, since I have been working full-time for 3 years after college), they do not require that I submit any of my parents' tax returns or W2's. I'm wondering if anyone knows the advantages/disadvantages of this situation in terms of getting need-based grant?