How does Financial Aid work?

[okiedokeartichoke]

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... Especially if you haven't been accepted yet?

I'm still on two waitlists and haven't heard from the last school I interviewed at a few weeks ago. By some miraculous chance (knock-on-wood), let's say I get accepted sometime later down the line in March-May. Would it be too late to sign up for financial aid? Where do I sign up for this aid? Do I have to wait until I get accepted to fill it out? Are late-acceptees at a disadvantage to receiving funds? When's the deadline? I'm just very confused by this all since I'm stuck in limbo.

Thanks!

 

[SmileItsLife]

... Especially if you haven't been accepted yet?

I'm still on two waitlists and haven't heard from the last school I interviewed at a few weeks ago. By some miraculous chance (knock-on-wood), let's say I get accepted sometime later down the line in March-May. Would it be too late to sign up for financial aid? Where do I sign up for this aid? Do I have to wait until I get accepted to fill it out? Are late-acceptees at a disadvantage to receiving funds? When's the deadline? I'm just very confused by this all since I'm stuck in limbo.

Thanks!

Go onto fafsa and sign up now! If you sign up with fafsa late, you may receive less funding. When your accepted to dental school doesn't matter. Go onto FAFSA, fill out the form, and add all of the schools you applied to...

 

[okiedokeartichoke]

Go onto fafsa and sign up now! If you sign up with fafsa late, you may receive less funding. When your accepted to dental school doesn't matter. Go onto FAFSA, fill out the form, and add all of the schools you applied to...

That's what I was worried about with receiving less funding :\ When did it open? How late am I?

 

[SmileItsLife]

That's what I was worried about with receiving less funding :\ When did it open? How late am I?

FAFSA's national deadline is June 30th, but many school's put a deadline before that. My undergrad has the deadline of March 1, so the federal deadline doesn't matter... Just sign up ASAP and worry about if you signed up too late after you filled out the form.

Here you go: https://fafsa.ed.gov/index.htm

 

[inna94]

Dental schools like you to complete it by March 1! So do is asap, it doesn't take long because it pulls most of your stuff from your tax info online.

 

[okiedokeartichoke]

Dental schools like you to complete it by March 1! So do is asap, it doesn't take long because it pulls most of your stuff from your tax info online.

Oh no, that's tomorrow! Where did you get this deadline from? I'm looking at my individual schools and they all vary, like April and May.

 

[DSlotted]

It takes like five minutes to fill out your fasfa, just do it and send it to all the schools you're waitlisted at

 

[eldmd_32]

OP did you do it? 😱

 

[DMDDDSHopeful]

OP did you do it? 😱

I wonder if "by March 1" includes "March 1". Lol.

 

[whaleofatale]

... Especially if you haven't been accepted yet?

I'm still on two waitlists and haven't heard from the last school I interviewed at a few weeks ago. By some miraculous chance (knock-on-wood), let's say I get accepted sometime later down the line in March-May. Would it be too late to sign up for financial aid? Where do I sign up for this aid? Do I have to wait until I get accepted to fill it out? Are late-acceptees at a disadvantage to receiving funds? When's the deadline? I'm just very confused by this all since I'm stuck in limbo.

Thanks!

Every school works differently. However, you will be eligible for Direct Loans regardless of when you are accepted. The only types of funding that you may not be able to receive are institutional loans, grants, and scholarships. You can cover the entirety of your COA using Direct Loans. You should go ahead and complete your 2017-18 FAFSA and list all schools that you're waiting to hear from.

Many (most?) schools have their own separate applications as well. Some schools do not accept financial aid application materials from waitlisted students (other than the FAFSA). Make sure you confirm this with each of your schools before sending in any materials before you are accepted.

 

[whaleofatale]

Dental schools like you to complete it by March 1! So do is asap, it doesn't take long because it pulls most of your stuff from your tax info online.

There is no general March 1 deadline. Every school sets their own financial aid deadline. The deadline to complete a FAFSA and receive funds for 2017-18 is not until June 30, 2018.

 

[DMDDDSHopeful]

There is no general March 1 deadline. Every school sets their own financial aid deadline. The deadline to complete a FAFSA and receive funds for 2017-18 is not until June 30, 2018.

So if you don't receive funds until 2018, do you attend school in 2017 on IOU's?

 

[whaleofatale]

So if you don't receive funds until 2018, do you attend school in 2017 on IOU's?

Things happen. Sometimes students unexpectedly need their money back if they have been paying out of pocket.

 

[okiedokeartichoke]

OP did you do it? 😱

I ended up doing 3/4 of it last night, minus the financial part since that also requires my parents' tax information which I couldn't have on hand at the time as it was late at night. I'll finish it all tonight!

I wonder if "by March 1" includes "March 1". Lol.

It better!

Every school works differently. However, you will be eligible for Direct Loans regardless of when you are accepted. The only types of funding that you may not be able to receive are institutional loans, grants, and scholarships. You can cover the entirety of your COA using Direct Loans. You should go ahead and complete your 2017-18 FAFSA and list all schools that you're waiting to hear from.

Many (most?) schools have their own separate applications as well. Some schools do not accept financial aid application materials from waitlisted students (other than the FAFSA). Make sure you confirm this with each of your schools before sending in any materials before you are accepted.

Thank you for being so helpful! I'll obviously do it anyway, but do you think March is late even if the deadline is June? I remember filling out my FAFSA for undergrad back in January when I attended so March, to me, seems on the later side which makes me worry. Also, where does one acquire Direct Loans? Isn't that through the FAFSA?

 

[ncide]

The thing about financial aid is that it isn't going to be any better the earlier you complete it (as opposed to undergraduate loans), since the options for dental students are for the most part just unsubsidized loans.

 

[SmileItsLife]

The thing about financial aid is that it isn't going to be any better the earlier you complete it (as opposed to undergraduate loans), since the options for dental students are for the most part just unsubsidized loans.

I'm only going to slightly disagree in the fact that if you are poor enough, you may qualify for LDS. If you want more LDS (which you should since it is subsidized and at the rate of 5%), you want to get FAFSA done ASAP! There are also many small things you might qualify for that might make a bit of a dent...

 

[whaleofatale]

I ended up doing 3/4 of it last night, minus the financial part since that also requires my parents' tax information which I couldn't have on hand at the time as it was late at night. I'll finish it all tonight!



It better!



Thank you for being so helpful! I'll obviously do it anyway, but do you think March is late even if the deadline is June? I remember filling out my FAFSA for undergrad back in January when I attended so March, to me, seems on the later side which makes me worry. Also, where does one acquire Direct Loans? Isn't that through the FAFSA?

What academic year are you talking about? The deadline for 2017-18 is not until June 30, 2018.

 

[Faux]

The thing about financial aid is that it isn't going to be any better the earlier you complete it (as opposed to undergraduate loans), since the options for dental students are for the most part just unsubsidized loans.

You can qualify for state discounted tuition.

You can also qualify for health professions loans. Fixed 5% for around 9-11k each year,. Basically a subsidized loan with no interest during your time in school.

 

[ncide]

You can qualify for state discounted tuition.

You can also qualify for health professions loans. Fixed 5% for around 9-11k each year,. Basically a subsidized loan with no interest during your time in school.

Luckily I was able to snag one of the no interest loans, but they are limited to 40,000k and each school only has few to give out. They tend to be given out after the school year starts, so there's no rush to get them until they are actually available at the school.

 

[Faux]

Luckily I was able to snag one of the no interest loans, but they are limited to 40,000k and each school only has few to give out. They tend to be given out after the school year starts, so there's no rush to get them until they are actually available at the school.

my health professions loan were given before school started. i got it with my aid package.

 

[okiedokeartichoke]

OP did you do it? 😱

I can officially and successfully say that, yes, I have done it!

OP has delivered, everyone. 👍