Financial Aid question

[CoronaBOY]

hey guys...

does anyone know how much 'grant' is usually given to med student?

not including any loan offer or scholarship from school...

and either private school or public...

i was just wondering about this today cuz since we don't have to report parents info this coming year...

how they will decide which one of us will need more 'free' money?

thanks

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[lola]

what do you mean that you don't have to report parents' income this year? was there a change to the financial aid form?

 

[CoronaBOY]

nah...since we are applying for grad or professional school aid...

we do not have to declare ourselves as dependent to the parents...

so you don't have to report your parents income or tax info onthe FAFSA form this year...

that is why i was asking how they will decide which one of us will get more?

 

[ckent]

My school's FA officer told me that he grouped all of the students who were not wealthy (ie didn't have all 4 yrs of tuition tucked away under their bed) and randomly who would receive a $3,000 a year grant. Some years, some students get it, other years, other students get it. Seems like a pretty stupid way to do it to me, because then you could have students who never receive the grant all four years just by chance while others who get it all four years. I didn't get it one year, and complained and then got 3,500 while everyone else got the standard 3,000. I guess that the extra 500 was for complaining.

 

[lola]

i thought you had to report it even though it is supposedly not considered. no?

 

[TroutBum]

Lola, I think you're right--but I think it depends on the school. Some schools have said that they don't ask for it, some do, so I think it's school-specific rather than a universal thing.

 

[CoronaBOY]

well...guys...

I have been to 7 schools so far and all the school told me that i don't have to report their tax info...

it does not depend on school, i don't believe... since FAFSA is government stuff...

it's not just med school...all the other grad school such as law or business...when you are in one, you don't have to report...

they treat you as 'grown-ups'

 

[CoronaBOY]

Originally posted by ckent
My school's FA officer told me that he grouped all of the students who were not wealthy (ie didn't have all 4 yrs of tuition tucked away under their bed) and randomly who would receive a $3,000 a year grant. Some years, some students get it, other years, other students get it. Seems like a pretty stupid way to do it to me, because then you could have students who never receive the grant all four years just by chance while others who get it all four years. I didn't get it one year, and complained and then got 3,500 while everyone else got the standard 3,000. I guess that the extra 500 was for complaining.

$3000...that not that bad...i guess...

although it's about same amount of grant that i got during undergrad...

thanks...

 

[doepug]

Your information isn't quite right.

True, as medical students, you won't report your parents' financial information on the FAFSA.

However, most medical schools have their own forms in addition to the FAFSA. These forms will ask about your parents. That's a guarantee.

The amount of grant aid varies widely from school to school. At my school, the student budget is approx $50,000/year. The first $8500 of financial need is met by subsidized Stafford loans, the next $4000 by subsidized university loans. Any remaining need (in excess of $12,500) is met by grant. Therefore, if your need is $45,000, you'd get $32,500 in grants.

Cheers,

doepug
MS III, Johns Hopkins

 

[DoubleDoctor]

We were told that you didn't have to report parents income on the FAFSA (or they don't use it) but that for need based aid you have to report both parents income (even if they are divorced and you have nothing to do with one of them) so this totally screwed me because my father said he would never provide that info for any reason. He didn't care whether I got a scholarship or not, it isn't his problem. Sad thing is that I have never asked him for anything in my life and he won't do the one thing that I really need done and it wouldn't cost him a dime. Pretty obvious why I don't have a relationship with him isn't it. I would be better off if he were dead, then I could get need based aid. Guess it doesn't matter that he is basically dead to me.

 

[SMW]

doegpug is right. You don't have to report parents' income on FAFSA, but on the schools' own forms, you will have to report your parents' (and even significant other's if you are planning marriage) tax information. And they don't just trust you -- you have to send copies of all relevant tax returns.

 

[DALABROKA]

According to the MSAR;

"Unlike most undergraduates, graduate and professional students are considered independent in determining the expected family contribution for most types of federal financial aid; both income and assets are taken into account. However, eligibility for some types of federal aid requires reporting of family financial information, even though the student is technically considered independent. This is also the case at some institutions in determining eligibility for institutional grants, scholarships, and school-based loans."