I'm in !!! Now how do I pay for it???

[ghettobird]

I finally got an acceptance at my first choice. I've now realized that in the process of worrying how to get in, I haven't really thought much about financing my education (aside from submitting my FAFSA). Will the school send me information regarding financial aid with my acceptance, and if so, can one generally get most of the money they need through federal loans (subsidized and unsubsidized) this late in the game????

Thanks

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[Popoy]

I'm sure your medical school is prepared for such situations.... You'll get the loans.... Contact your financial aid office about this. Congrats and good luck.

 

[CityIvy]

ghettobird,

congrats!! it must feel great! where was your first choice and what schools did you drop?

 

[bluegill]

People get in at the last second every year at nearly every school. I'm sure you'll just have to be very quick about processing your school's financial aid forms (ie, send them back the very same day you receive them, fax versus mail, etc).

My school gave me the full $8500 of subsidized Stafford loan, and then gave me $24,500 in unsubsidized Stafford loan to cover the rest of my costs. Yet my friend (with identical costs at a different school) didn't receive enough unsubsidized to cover it, and she has to take out a private loan. Do different schools have different standards when dispersing unsubsidized loans to people with zero expected family contribution????

 

[ghettobird]

Yeah, the whole "family contribution" thing threw me a little, too.
We were required to disclose our parents financial info. on FAFSA, and both of mine are gainfully employed, but there is now way in hell they will help me pay for medical school! I hope that the amount of aid you receive is not calculated directly from this, because even if they were making a million dollars a year, I'm still the one paying.

 

[r124c41]

ghettobird: Welcome to the middle-class! Yes, everyone knows that it is the student who pays everything; with a few thousand extra from the folks thruout the year as your cash runs low. No big deal.