Need Based Aid

[WestCoastNative]

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Roughly how much financial aid can you realistically expect to get? The lowest income bracket is 25k - right? Assuming that a student fits right in there, would they still pay close to full tuition?

 

[allantois]

The maximum aid the government will give you in Pell Grant is about 5700 a year plus whatever you will get from the state government.

It doesn't matter if you go to a 50,000 or 8,000 a year school, the federal government will still only give you that $5700.

 

[gyngyn]

Roughly how much financial aid can you realistically expect to get? The lowest income bracket is 25k - right? Assuming that a student fits right in there, would they still pay close to full tuition?

If you are asking about grants, it will vary dramatically by school (endowment), not by need. Many have no need-based grants.

 

[WestCoastNative]

I'm not quite sure, but medical students graduate with an average of 150k in loans right? Is that due to parental support? 150k seems like it would be a blessing. 40k a year = 160k, plus 15k for living at the very least = 60k. This would add up to 220k. What's the secret?

 

[allantois]

I have long thought that average indebtedness makes no sense considering the costs of attendance. But if you look at the results of this poll everything will become crystal clear:

http://forums.studentdoctor.net/thr...althy-upper-middle-class-people-poll.1088947/

PS I thought you were originally asking about undergrad aid as there is no need based aid given by the government for graduate school of any sort.

 

[WestCoastNative]

I have long thought that average indebtedness makes no sense considering the costs of attendance. But if you look at the results of this poll everything will become crystal clear:

http://forums.studentdoctor.net/thr...althy-upper-middle-class-people-poll.1088947/

PS I thought you were originally asking about undergrad aid as there is no need based aid given by the government for graduate school of any sort.

I've seen the thread earlier, but I'm not quite sure what it should clear up. Apparently 55.9% of active SDN member's parents make over 100k a year. That's not exactly what I expected. If anything, that poll shows me that over 1 in 2 medical students are coming from generally loaded families. On the other hand, I'm also surprised that 14.1% are coming from families whose parents make less than 30k a year.

 

[Dr. Jan Itor]

The average indebtedness includes students using programs like the HPSP and GI Bill, as well as students with outside support such as parents, so it's a bit skewed.

Plus, some schools have more need- and merit-based aid than others.

 

[darkjedi]

The maximum aid the government will give you in Pell Grant is about 5700 a year plus whatever you will get from the state government.

It doesn't matter if you go to a 50,000 or 8,000 a year school, the federal government will still only give you that $5700.

I believe that Pell grants are only for undergraduates

 

[allantois]

I believe that Pell grants are only for undergraduates

Well this is a pre-med forum 🙂

 

[darkjedi]

Well this is a pre-med forum 🙂

haha true, but it seems pretty evident OP is referring to med school aid

 

[Amba]

The variation between schools is incredible for need-based scholarships. One of my schools gave me $0 in need-based grants (100% loans). Where I matriculated gave me $35K per year in need-based scholarships.

 

[darklabel]

Roughly how much financial aid can you realistically expect to get? The lowest income bracket is 25k - right? Assuming that a student fits right in there, would they still pay close to full tuition?

For medical school it depends. As a first year, I received more aid than I expected from my school. But this question varies by school. The best I can say is try to get into multiple schools and see the financial aid each school gives you. While one school may be cheaper than another (private vs state schools), but you'd be surprised how much aid you may be able to get from the more expensive school and how little the cheaper school might give.

But yo answer your question, if your family's income level is at the poverty level or less, then yes you probably will get at least some need based aid if the school offers it to its students.