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med school finances

Discussion in 'Pre-Medical - MD' started by karat, Nov 15, 2005.

  1. karat

    karat Member
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    Hey guys,
    I've read quite a few threads about financial aid and I am CONFUSED. I've gotten into one of my state schools and from what I can tell, in the long run I will be equally in debt as someone attending a private school. Go figure.

    Anyway, I never applied for financial aid for undergrad so I was hoping someone could explain to me (in layman's terms) the process of applying for/getting aid. Also, when should I expect to hear about this stuff and what's a "good deal" vs. a "bad deal." In other words, what should my expectations be?

    Finally, is there anything I need to do at this stage of the game-like apply for anything or contact the school?

    Thanks so much.
     
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  3. C.P. Jones

    C.P. Jones Catface Majigger
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    you need to fill out a fafsa form, which is done online at

    www.fafsa.ed.gov

    the form is not available until january 1st, and when you do complete it, you just list your school on the form (you can find the school code through them or just call your school's fin aid office)

    it's best to have your/parents taxes completed to do the forms so you have all the numbers in front of you....it doesn't have to be done on jan 1st :)

    but the faster, the better
     
  4. medicomel

    medicomel Purveyor of short posts.
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    If I filled one out for my post-bac, but haven't renewed it for 2 years, do I still use the "Renewal Form" with my same pin for applying for medical school financial aid? :confused:
     
  5. AxlxA

    AxlxA Addicted to ***
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    fafsa is every year. So you have to fill out another one. of course with new tax info.
     
  6. erin682

    erin682 Senior Member
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    I was in the same boat as you before I started med school. What you will do is after the 1st of the year you will fill out the fafsa which is availably online. You will need yours and your parents tax info to fill it out. There will also most likely be a financial aid form unique to your school. If you have already decided where you are going by the time you are filling these forms out then you will fill out only the form for that school. If you are undecided or still waiting you will need to fill out the forms for all the schools you are still considering. This also applies for schools you have not been accepted to yet. There is a deadline for filling the forms out and it comes before the deadline for sending out acceptances.

    Good luck.
     
  7. nockamura

    nockamura Senior Member
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    After filling out the FAFSA, they will determine that you and/or your parents make too much money to recieve grants and your school will offer you a generous loan in the amount that has been budgeted for. You will take your loan and be pleased with your acceptance to medical school.
     
  8. mackie

    mackie Senior Member
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    I agree that new tax info must be added every year, but if you've done the FAFSA before and have a pin, I'm pretty sure you can log into that account and change those things that need to be changed before resubmitting. I would recommend at least trying this to see if the account is still active before completing everything all over again.
     
  9. medicomel

    medicomel Purveyor of short posts.
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    thanks Mackie! I had a hunch about this...i'll try to log in when the time comes. as for parental information...i WISH i could submit mine, but my parents aren't going to do that for me. i'm a little old to be asking my mom and dad for help. :(
     
  10. ShyRem

    ShyRem I need more coffee.
    Physician Moderator Emeritus 10+ Year Member

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    Apparently without parental information, you will be automatically kicked out of some grant, loan, and scholarship programs. I asked a couple of schools about my parents and potential finances (I'm 38), and they said that at my age my parental income definitely would not be considered as part of my package. So it seems the parental information isn't there to see if they can contribute, but to put you in the running for certain other programs.

    Someone please correct me if this is incorrect.
     
  11. soumdoc

    soumdoc Member
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    Actually, I recently just got married, and so didn't fill out the parental info for the FAFSA this past year, and got a TON more money from the government this year than any other year. It all depends on how much your parents make compared to how much you make. My parents were an engineer and a dietician, and therefore, their combined income was much greater than mine and my husbands' (both students, currently living off of my husband's PHD stipend), so the governement gave us more money now. IT's all about where the need is :)
     

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