Marriage and Financial Aide

[vethopeful2011]

Ok, trying to separate this from the marriage with children thread because it's dragging things off topic, hope that's appropriate! I have been engaged for a long time and my boyfriend and I have essentially held off on marriage because I was always under the impression that, similiar to undergrad, if you have to include that person's income it will decrease any potential financial aide. I'm fortunate enough to be attending my IS school so residency isn't an issue. So my real question is:

1.) Does being married actually help with obtaining health professions loans?
2.) I know it differs by state, but (in your experience) is there enough non-loan financial aide available for it to negate potential tax benefits from being married?

I'm just wondering what others personal experiences with marriage and financial aide have been because I want to get married already~!

Thanks!

---

Members don't see this ad.

 

[felinelvr44]

I am also curious as to the financial aid implications of being married. I spoke briefly with someone at Tufts about Financial Aid a few years ago and she reminded me that my 401k would be considered an asset (for calculating family contribution) which was a bummer since I don't exactly have access to those funds. Since I am already married, by biggest beef right now is that it appears like most schools (Cornell included) consider all students under the age of 30 as dependents and include your parents assets and income when determining family contribution. This is pure insanity to me since my parents haven't contributed to my living expenses in over eight years. Does anyone know if this is true for married students as well?

Have you looked at this page?
http://www.vet.cornell.edu/financialaid/AssessingFinancialNeed.cfm
There's a small part about employed spouses - not sure if that answers any of your questions but in terms of determining financial need, it looks like they assume that if your spouse is employed, he or she will contribute/support you.

I don't think I really answered any of your questions and would love it if someone with experience in all this could chime in! This is definitely something I will be asking about at the accepted students weekend!!

 

[scb44f]

I will echo most everything over there... Being married may change the expected contribution, but in the end all professional students in the US are eligible for the same unsubsidized federal student loans, regardless of marriage status, parental support, etc. I have never heard of a school *requiring* parental information though, between my research into vet school and my husband's into med school, and would question that highly.

For the Health Professions Student Loan, I'm unsure if it would help/harm if married. It is need-based so if your spouse has income it could potentially prevent you from obtaining that, but I don't know the technical information and wasn't patient enough while searching to find out

Edit: I see now that requiring parents info unless you are able to prove independence was at specific schools that I likely did not look into that much. (I thought the schools were pushing it for federal aid, but I guess the school can do what it wants? I would still consider it fishy though...)

 

[felinelvr44]

I will echo most everything over there... Being married may change the expected contribution, but in the end all professional students in the US are eligible for the same unsubsidized federal student loans, regardless of marriage status, parental support, etc. I have never heard of a school *requiring* parental information though, between my research into vet school and my husband's into med school, and would question that highly.

For the Health Professions Student Loan, I'm unsure if it would help/harm if married. It is need-based so if your spouse has income it could potentially prevent you from obtaining that, but I don't know the technical information and wasn't patient enough while searching to find out

I'm just going off of what I'm reading on Cornell's (and other school's) financial aid sites:

"The College of Veterinary Medicine considers all students under the age of 30, on January 1 of the year they are applying for financial assistance, to be dependent. Therefore complete parental data is collected on both the FAFSA and the CSS PROFILE forms. Having insufficient non-repayable funds to adequately assist all students, and wishing to ensure that all qualified students have an equal opportunity to attend, the College examines the difference between the total cost of education and the family's ability to pay in measuring the need for gift aid."

Crazy, right?

 

[scb44f]

I'm just going off of what I'm reading on Cornell's (and other school's) financial aid sites:

"The College of Veterinary Medicine considers all students under the age of 30, on January 1 of the year they are applying for financial assistance, to be dependent. Therefore complete parental data is collected on both the FAFSA and the CSS PROFILE forms. Having insufficient non-repayable funds to adequately assist all students, and wishing to ensure that all qualified students have an equal opportunity to attend, the College examines the difference between the total cost of education and the family's ability to pay in measuring the need for gift aid."

Crazy, right?

The specification that it is for "gift aid" says to me that you have to provide parental info unless you are over 30 years of age to be eligible for scholarships through the school, not for the standard federal loans. I would ask them to clarify what they mean in either case.

 

[vethopeful2011]

I'm just going off of what I'm reading on Cornell's (and other school's) financial aid sites:

"The College of Veterinary Medicine considers all students under the age of 30, on January 1 of the year they are applying for financial assistance, to be dependent. Therefore complete parental data is collected on both the FAFSA and the CSS PROFILE forms. Having insufficient non-repayable funds to adequately assist all students, and wishing to ensure that all qualified students have an equal opportunity to attend, the College examines the difference between the total cost of education and the family's ability to pay in measuring the need for gift aid."

Crazy, right?

That is INSANE!!! Luckily both of my parents are retired, but still...yeah definately planning on asking about that at accepted students day! I have lived in another state for, oh 10 years!!! lol. Maybe you just have to prove dependence? When are you going to accepted students day, did you decide yet?

 

[Minnerbelle]

I think scb is right, schools don't require you to include parental info with the caveat that you are not eligible for health professions loans, and specifically in Tufts' case, institutional financial aid. If you're applying to Tufts, stay on top of it because their financial aid deadline to be considered for institutional aid is earlier than when some of the admission decisions come out if I remember correctly. This means all a parents (step-parents too i think) have to have their taxes done well before the federal tax deadline. I was told this at my interview and was like waaaah?

If you're not going to include your parental info, it doesn't matter when you send in your fafsa for fed loans. I don't think I submitted mine until after school started because csu's tuition wasn't due until a month after school started and I was just living off my savings.

As for marriage, like scb said, it won't make much of a difference. Since subsidized loans are gone gone gone, the only things you can get are unsubsidized and health professional. It might affect your health professional loan a tad bit, but that amount that anyone's eligible is like a drop in the bucket anyways. You are always eligible for unsubsidized loans upto the cost of attendance regardless of your income.

 

[vethopeful2011]

LOL. Guess I'm not getting married for another 4yrs!

 

[scb44f]

If you're applying to Tufts, stay on top of it because their financial aid deadline to be considered for institutional aid is earlier than when some of the admission decisions come out if I remember correctly. This means all a parents (step-parents too i think) have to have their taxes done well before the federal tax deadline. I was told this at my interview and was like waaaah?

That is intense!

 

[scb44f]

LOL. Guess I'm not getting married for another 4yrs!

Why do you say that?

 

[Camelidcrazy]

I'm just going off of what I'm reading on Cornell's (and other school's) financial aid sites:

"The College of Veterinary Medicine considers all students under the age of 30, on January 1 of the year they are applying for financial assistance, to be dependent. Therefore complete parental data is collected on both the FAFSA and the CSS PROFILE forms. Having insufficient non-repayable funds to adequately assist all students, and wishing to ensure that all qualified students have an equal opportunity to attend, the College examines the difference between the total cost of education and the family's ability to pay in measuring the need for gift aid."

Crazy, right?

Is this from the general financial aid site for the institution? This might be specific to undergrads- we don't qualify for their assistance and I believe they jump through more hoops than us.

I'll just tell you what I know- I'm married and my husband and I made quite a bit of money the year before I started vet school and I was still offered the federal max of loans. No one asked me for parent information at any point except the FAFSA which only required it for the health professionals loan. At my financial aid orientation they very clearly tell us that we needn't apply with our parents information unless we are trying for the health professionals. I at no time provided my parent information as they make entirely too much money for me to be considered for the health professionals. All of this was ~4 months ago so I don't think it has changed much (although I go to Washington so the financial aid might be run differently).

Here's my advice: every school has a financial aid counselor specific to vet students. I would email the vet school specific academic services of the schools you've been accepted to and explain you are a special case student and you need the specialist's contact information. That will hopefully answer some questions and put your mind at rest.

 

[vethopeful2011]

Why do you say that?

Just after reading some more info on the posted site. I need to ask more questions of the admissions office though and do some calculations myself.

 

[vethopeful2011]

Is this from the general financial aid site for the institution? This might be specific to undergrads- we don't qualify for their assistance and I believe they jump through more hoops than us.

I'll just tell you what I know- I'm married and my husband and I made quite a bit of money the year before I started vet school and I was still offered the federal max of loans. No one asked me for parent information at any point except the FAFSA which only required it for the health professionals loan. At my financial aid orientation they very clearly tell us that we needn't apply with our parents information unless we are trying for the health professionals. I at no time provided my parent information as they make entirely too much money for me to be considered for the health professionals. All of this was ~4 months ago so I don't think it has changed much (although I go to Washington so the financial aid might be run differently).

Here's my advice: every school has a financial aid counselor specific to vet students. I would email the vet school specific academic services of the schools you've been accepted to and explain you are a special case student and you need the specialist's contact information. That will hopefully answer some questions and put your mind at rest.

!
Thank you, very good advice and will do!

 

[orcagirl]

Also with the health professions loan, be aware that not all schools are eligible for their students to receive it. They have to have been around before a certain date. It's not possible for students at NCSU to get, as far as I understand.

 

[Foxhunter]

I am also curious as to the financial aid implications of being married. I spoke briefly with someone at Tufts about Financial Aid a few years ago and she reminded me that my 401k would be considered an asset (for calculating family contribution) which was a bummer since I don't exactly have access to those funds. Since I am already married, by biggest beef right now is that it appears like most schools (Cornell included) consider all students under the age of 30 as dependents and include your parents assets and income when determining family contribution. This is pure insanity to me since my parents haven't contributed to my living expenses in over eight years. Does anyone know if this is true for married students as well?

Have you looked at this page?
http://www.vet.cornell.edu/financialaid/AssessingFinancialNeed.cfm
There's a small part about employed spouses - not sure if that answers any of your questions but in terms of determining financial need, it looks like they assume that if your spouse is employed, he or she will contribute/support you.

I don't think I really answered any of your questions and would love it if someone with experience in all this could chime in! This is definitely something I will be asking about at the accepted students weekend!!

Are you certain of this? When I was at Cornell they were very explicit that if you were married, but under 30 you only had to include your husband, not your parents. In fact that was the only way to be considered independent if you were under 30

 

[Minnerbelle]

LOL. Guess I'm not getting married for another 4yrs!

Really? A maximum of ~$6k/year at 5% instead of 7-8% interest is that much of a deterrent to getting married?

I would call up the schools you're interested in and ask how much students at their school on average get of institutional aid that depends on combined income if you're that concerned... I would wager probably not enough to make it worth it.

 

[felinelvr44]

Are you certain of this? When I was at Cornell they were very explicit that if you were married, but under 30 you only had to include your husband, not your parents. In fact that was the only way to be considered independent if you were under 30

I was wondering if/hoping that would be the case. In my experience with financial aid, marriage and having children make you "independent." I'll have to talk to someone in the financial aid office about all of this but thanks for posting - I'm 99.8% sure I'll be attending Cornell so this makes me feel much better about possibly receiving gift aid (my husband is a full-time student but my parents make a decent amount of money).

 

[vethopeful2011]

Really? A maximum of ~$6k/year at 5% instead of 7-8% interest is that much of a deterrent to getting married?

I would call up the schools you're interested in and ask how much students at their school on average get of institutional aid that depends on combined income if you're that concerned... I would wager probably not enough to make it worth it.

Good point, and these are the things I need to figure out.

 

[felinelvr44]

That is INSANE!!! Luckily both of my parents are retired, but still...yeah definately planning on asking about that at accepted students day! I have lived in another state for, oh 10 years!!! lol. Maybe you just have to prove dependence? When are you going to accepted students day, did you decide yet?

I haven't chosen yet (still trying to figure out which Friday works best for husband). Did you pick one??

 

[vethopeful2011]

I haven't chosen yet (still trying to figure out which Friday works best for husband). Did you pick one??

No, have to talk to work and figure out what's the earliest I could take Friday off, and then coordinate with my bf's job. Hope I see you there fellow nontradish!

 

[deleted497320]

I'm just going off of what I'm reading on Cornell's (and other school's) financial aid sites:

"The College of Veterinary Medicine considers all students under the age of 30, on January 1 of the year they are applying for financial assistance, to be dependent. Therefore complete parental data is collected on both the FAFSA and the CSS PROFILE forms. Having insufficient non-repayable funds to adequately assist all students, and wishing to ensure that all qualified students have an equal opportunity to attend, the College examines the difference between the total cost of education and the family's ability to pay in measuring the need for gift aid."

Crazy, right?

uggh I'm not at all surprised by this, to be honest. I went to Cornell for undergrad and at the time my parents had been divorced for almost 10 years, and according to their divorce proceedings my father was not obligated to help me pay for college and my mom was my primary financial support. This was all in writing, but Cornell still considered my parents + me to be a "family unit" and counted my father's income towards my financial aid. I found out a few years later that the only way to avoid this is would have been to sign a statement that I did not have any contact w/my father and couldn't get his financial information. It's pretty ridiculous.

I wonder if you formally emancipate yourself from your parents (legally), would they still consider you a dependent?

 

[Foxhunter]

I'm just saying double check, I believe there is a clause for married, etc. Don't worry at the accepted students day at Cornell there will literally be a 45 minute presentation on financial aide and about 15 people will ask the question.

 

[primatevetjess]

Just to reiterate, being married and your spouse's income do not decrease the amount of federal student aid you can receive. Even with an expected family contribution, I received the max amount.

Also, I never included my parent's information anywhere on anything. That quote from Cornell specifically says that it's for gift aid - to me that means grants, scholarships, etc. That's different from the federal loans that everyone is eligible for. During first year, I didn't have any "gift aid," only federal loan money, and got along just fine.

 

[heylodeb]

Just to reiterate, being married and your spouse's income do not decrease the amount of federal student aid you can receive. Even with an expected family contribution, I received the max amount.

Also, I never included my parent's information anywhere on anything. That quote from Cornell specifically says that it's for gift aid - to me that means grants, scholarships, etc. That's different from the federal loans that everyone is eligible for. During first year, I didn't have any "gift aid," only federal loan money, and got along just fine.

I am in the same boat as JJ - and I actually found at this year that I can take out an additional 7,500 more than unmarried folks because I'm married. Both years, my financial aid came through a little bit shorter than what I needed. (Thank-you, horse) and I just e-mailed financial aid and requested an increase and they did it. (I didn't request over the maximum allowed for any student, obviously)

 

[felinelvr44]

@jjohnston @heylodeb: thanks for the info guys, I really appreciate it!