Good income to Med School

[bigdan]

Anyone here have insight to share on financial aid/loans when going from a good salary to a medical student...I know that questions are asked about income from the previous year, and I'd like to know how that will effect me...

Thanks ahead of time...

dc

---

Members don't see this ad.

 

[mpp]

It will depend on the school budget, cost, the amount you have in savings, etc. Every medical student will qualify for $38,500 in unsubsidized Stafford loans at a minimum. If you have specific questions, it's probably best to talk to the financial aid office at your medical school.

 

[southerndoc]

It will depend on the school budget, cost, the amount you have in savings, etc. Every medical student will qualify for $38,500 in unsubsidized Stafford loans at a minimum. If you have specific questions, it's probably best to talk to the financial aid office at your medical school.

Did they raise this? It was $8,500 in subsidized plus $28,500 in federal unsubsidized, not $38,500. Just curious if they recently increased the amount.

 

[Adapt]

Did they raise this? It was $8,500 in subsidized plus $28,500 in federal unsubsidized, not $38,500. Just curious if they recently increased the amount.

For one school I received $32,222 in unsubsidized stafford loans and $8,500 in subsidized stafford loans. That's $40,722 in total Stafford loans for one year. I think they raised the max of unsubsidized you can get.

 

[southerndoc]

For one school I received $32,222 in unsubsidized stafford loans and $8,500 in subsidized stafford loans. That's $40,722 in total Stafford loans for one year. I think they raised the max of unsubsidized you can get.

Cool, that reduces the amount of private loans students need!

 

[Fermi]

Anyone here have insight to share on financial aid/loans when going from a good salary to a medical student...I know that questions are asked about income from the previous year, and I'd like to know how that will effect me...

There is nothing on the FAFSA that accounts for the transition from full time work to full time school, but the financial aid office of your future med school might have provisions for this. My school has something called a "change of circumstances form" in which you explain why your FAFSA does not reflect what your financial situation will be the next year. I had to provide extra documentation like a letter from my former employer confirming that I no longer worked there, even though it was pretty obvious since I had moved to a different city.