financial aid question

[jackson123]

How good are schools about giving financial aid? My financial situation isn't poor, but there is still no way that my dad (who is a doc) can help me pay for med school. Do ppl with parents who are docs or lawyers ever qualify for aid?

---

Members don't see this ad.

 

[armybound]

there will definitely be an aid package to cover the cost of attendance, but it usually consists mostly of loans.

 

[alwaysaangel]

How good are schools about giving financial aid? My financial situation isn't poor, but there is still no way that my dad (who is a doc) can help me pay for med school. Do ppl with parents who are docs or lawyers ever qualify for aid?

It really depends on school - some go for mostly academic based scholarships but in that case you need a 4.0, 40, and have worked on some research project that is going to someday win a nobel prize.

Most seem to be more need based. For those you likely will not qualify as your parents income is probably 100k+

Now, that doesn't mean the school won't give you the money needed to attend - it just won't be free money. You'll take out loans like most other people and it will be just fine.

 

[jackson123]

O.K., I was referring to need-based aid that you don't have to ever pay back. Do they also screen for merit based aid when you fill out the standard financial aid forms?

It really depends on school - some go for mostly academic based scholarships but in that case you need a 4.0, 40, and have worked on some research project that is going to someday win a nobel prize.

Most seem to be more need based. For those you likely will not qualify as your parents income is probably 100k+

Now, that doesn't mean the school won't give you the money needed to attend - it just won't be free money. You'll take out loans like most other people and it will be just fine.

 

[alwaysaangel]

O.K., I was referring to need-based aid that you don't have to ever pay back. Do they also screen for merit based aid when you fill out the standard financial aid forms?

Merit-based aid is more something that occurs in the admissions office. But that is more rare. But yes, you will be considered for it without asking.

Now if you have multiple acceptances and one school is giving you x amount of money you could call the other school and tell them that you want to go to their school but because you're being offered x at school a you are having a hard time picking their school. It doesn't usually work but its worth a shot. (DO NOT LIE ABOUT THIS - schools know where else you've been accepted and they do talk to each other)

 

[Phoenix.]

Several students at Mayo told me that they didn't have to provide parental financial info for financial aid. I thought this was required at every medical school, but apparently not at Mayo.

Anyone know of other schools like this?

 

[nonesuchgirl]

Several students at Mayo told me that they didn't have to provide parental financial info for financial aid. I thought this was required at every medical school, but apparently not at Mayo.

Anyone know of other schools like this?

How old were they? After a certain age, you're considered independent and don't have to report parents.

 

[alwaysaangel]

Several students at Mayo told me that they didn't have to provide parental financial info for financial aid. I thought this was required at every medical school, but apparently not at Mayo.

Anyone know of other schools like this?

Thats because Mayo has a really unique mission in terms of financial aid:

Tuition & Financial Aid

Mayo Medical School appoints students regardless of their financial circumstances. Dedicated resources enable you to choose medicine and Mayo Medical School without undue financial constraints. All Mayo students receive financial support. Mayo's financial aid program:

* Increases access to the medical profession for all prospective candidates regardless of their social or economic background
* Allows graduating students to choose a career based primarily on their interest, skill, and aptitude rather than financial considerations imposed by high indebtedness
* Attracts the very best students to Mayo Medical School

There might be some other schools that are like that but I haven't heard of them here at SDN. Usually to get out of providing parental info you have to petition to the school and really prove that you CAN'T give their info. Sadly, usually even married people with or without kids have to provide parental info. We have a guy who is in his 30's in our class who still had to provide parental info.

 

[futuredrcrawfor]

Several students at Mayo told me that they didn't have to provide parental financial info for financial aid. I thought this was required at every medical school, but apparently not at Mayo.

Anyone know of other schools like this?

Couldn't you drop off your parents taxes as a dependent and claim yourself as independent- that was what I was planning on doing- that way since I don't really work I don't have money and my parents financial status (making over 100K but had a bankruptcy on the record when I was in HS from a business failure after 9/11 so they certainly can't help me) won't matter

 

[alwaysaangel]

Couldn't you drop off your parents taxes as a dependent and claim yourself as independent- that was what I was planning on doing- that way since I don't really work I don't have money and my parents financial status (making over 100K but had a bankruptcy on the record when I was in HS from a business failure after 9/11 so they certainly can't help me) won't matter

This doesn't work in med school. If it did everyone would do it and you would have a bunch of 22 year old people who have no income - there is no way to differentiate them then.

Pretty much every school requires you submit your parents info. No matter how old you are, whether you're married or not, and whether you have kids or not.

If you want free money - you submit parental info. Its just the way it is.

 

[armybound]

According to Vanderbilt, parental information isn't necessary on the FAFSA for their uses. But Vandy wants your parental information for school-specific merit awards. Or maybe it was the other way around..

 

[Bacchus]

The FAFSA is still the governing "body" for this aid, correct? It is not an application per school, right?

 

[armybound]

The FAFSA is still the governing "body" for this aid, correct? It is not an application per school, right?

FAFSA for the general government awards regardless of school (though you have to give them the code of the school you'll be attending, I think), but some schools have separate applications for merit/need based institutional awards

 

[Depakote]

this thread would be better addressed in the financial aid forum.

moving.

 

[alwaysaangel]

According to Vanderbilt, parental information isn't necessary on the FAFSA for their uses. But Vandy wants your parental information for school-specific merit awards. Or maybe it was the other way around..

Yeah when you fill out FAFSA by saying you're a pre-doctoral student you are no longer required to fill out parental info on FAFSA. But it will explain to you that you are better served by providing it voluntarily (which most schools require so its not really voluntary).

And most schools do have an additional application - that breaks down next years expected income, and asks for your and your parents income tax returns. I applied for financial aid at 4 schools last year and all 4 required some supplemental form that included that info.

 

[nonesuchgirl]

Yeah when you fill out FAFSA by saying you're a pre-doctoral student you are no longer required to fill out parental info on FAFSA. But it will explain to you that you are better served by providing it voluntarily (which most schools require so its not really voluntary)

What if you've been independent for years? What if you're 35?

 

[alwaysaangel]

What if you've been independent for years? What if you're 35?

It depends on the school but at MOST schools you still have to submit parental info to be considered for institutional need-based scholarships.

Its not like they're not going to let you attend - but you won't get any free money unless its academic-based. You'll only get loans.

Yes its weird and it sucks but its the way it is. There are several 30+ year olds, people who are married, people who have kids in my class - and they all still had to submit parental info.

The only people I've met who got out of it and still qualified for institutional aid were people who could prove they were estranged from their parents or people who just showed they were dead. And proving estrangement is hard.

 

[nonesuchgirl]

It depends on the school but at MOST schools you still have to submit parental info to be considered for institutional need-based scholarships.

Its not like they're not going to let you attend - but you won't get any free money unless its academic-based. You'll only get loans.

Yes its weird and it sucks but its the way it is. There are several 30+ year olds, people who are married, people who have kids in my class - and they all still had to submit parental info.

The only people I've met who got out of it and still qualified for institutional aid were people who could prove they were estranged from their parents or people who just showed they were dead. And proving estrangement is hard.

That's insane. Eurgh, I hate the financial aid system, it makes no sense.