Financing Med School

Started by Piglet2020
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Piglet2020

Piglet2020

Full Member
7+ Year Member
Hello! I would like to learn more about loans/grants for medical school. I submitted my FAFSA yesterday. I don't think I would be eligible for free $ as my parents' income is over the need limit. So far, my state school hasn't sent me any info yet about financial packages. What should I do now? Thanks!
 
Piglet2020 said:
Hello! I would like to learn more about loans/grants for medical school. I submitted my FAFSA yesterday. I don't think I would be eligible for free $ as my parents' income is over the need limit. So far, my state school hasn't sent me any info yet about financial packages. What should I do now? Thanks!
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Your parents income is not factored in when deciding your need, even if you provided it. I believe this is true for all professional-level education programs
 
stickgirl390 said:
Your parents income is not factored in when deciding your need, even if you provided it. I believe this is true for all professional-level education programs
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Parental income is not factored in when considering need in terms of government loans. However, parental income is considered when evaluating institutional aid at many schools.
 
3toedsloth said:
Parental income is not factored in when considering need in terms of government loans. However, parental income is considered when evaluating institutional aid at many schools.
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OP specifically referenced fafsa, hence my comment.
 
When it says "you have one or more debts with a total combined outstanding balance greater than $2,085 that are 90 or more days delinquent as of the date of the credit report" they are not referring to an outstanding FASFA student loan debt? Being less than $2,085 in student loan debt from undergraduate education would seem a bit strict for a GradPLUS loan requirement! I have also never heard of anyone being denied the full COA. Has anyone on the thread been previously denied GradPLUS loans due to some disqualifying factor?
 
driven4 said:
When it says "you have one or more debts with a total combined outstanding balance greater than $2,085 that are 90 or more days delinquent as of the date of the credit report" they are not referring to an outstanding FASFA student loan debt? Being less than $2,085 in student loan debt from undergraduate education would seem a bit strict for a GradPLUS loan requirement! I have also never heard of anyone being denied the full COA. Has anyone on the thread been previously denied GradPLUS loans due to some disqualifying factor?
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The key word is delinquent. If you're not 3 months behind on payments you're fine.
 
aldol16 said:
Invest in Bitcoin and get out before the bubble bursts.
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How much to invest in Bitcoin to earn around 200k even if Bitcoin doubles?

This is not so easy anymore when you could invest hundreds and pull out thousands. with Bitcoin being over 16K, you have to invest a lot. Risks are high now.
 
The way I’m paying for it, I enlisted in the Air Force and so now I have the post 9/11 GI Bill. In-state tuition is fully covered along with a housing stipend, $1000 yearly for books, and I think it covers one lisencing exam (I’d have to double check that one). It only gives about $22000 a year for private schools, but many private schools have a yellow ribbon program where they elect to contribute more and the VA matches it. Definitely not a path for everyone, but you can get your MD debt free without a service commitmen afterward (like with USUHS/HPSP).
 
driven4 said:
When it says "you have one or more debts with a total combined outstanding balance greater than $2,085 that are 90 or more days delinquent as of the date of the credit report" they are not referring to an outstanding FASFA student loan debt? Being less than $2,085 in student loan debt from undergraduate education would seem a bit strict for a GradPLUS loan requirement! I have also never heard of anyone being denied the full COA. Has anyone on the thread been previously denied GradPLUS loans due to some disqualifying factor?
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I had over $50,000 from undergrad, so, no. But key word is delinquent here.
 
de Ribas said:
How much to invest in Bitcoin to earn around 200k even if Bitcoin doubles?

This is not so easy anymore when you could invest hundreds and pull out thousands. with Bitcoin being over 16K, you have to invest a lot. Risks are high now.
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Good point. Try another crypto-currency 😉 I think risks have always been high since so much is unknown about it.
 
Sorry to be reviving a 1+ year thread but I am curious about this.
For private loans (through a bank), in obtaining medical school loans, can a good credit score help secure a low interest rate? is that relevant at all?
 
Engrailed said:
Sorry to be reviving a 1+ year thread but I am curious about this.
For private loans (through a bank), in obtaining medical school loans, can a good credit score help secure a low interest rate? is that relevant at all?
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Yes, or if you have a parent with a good credit score and income co-sign for you as well.
 
Engrailed said:
Sorry to be reviving a 1+ year thread but I am curious about this.
For private loans (through a bank), in obtaining medical school loans, can a good credit score help secure a low interest rate? is that relevant at all?
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Keep in mind these are ineligible for federal forgiveness programs.
 
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