Need some help re: financial aid

[AJS59]

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Hi all,

I am an incoming medical student in a bit of a sticky situation. I originally had the impression that with parental help I would be able to avoid taking out loans for medical school; however, they shared with me today that this may not the case anymore (lord knows why they won't be up front with me about this....anyways).

Anyways, my dad has been very insistent on me looking at both government and private loans. I filled out the FAFSA a couple of days ago but I fear it may be too late to receive aid in time. Is this true, and if so, do I need to start seeking private loans? This is at an MD program which offers aid by the way, so it's not like the federal loans are out of the question. Just not really sure what to do here and it's just another thing I have to deal with before classes start in August.

 

[wysdoc]

Hi all,

I am an incoming medical student in a bit of a sticky situation. I originally had the impression that with parental help I would be able to avoid taking out loans for medical school; however, they shared with me today that this may not the case anymore (lord knows why they won't be up front with me about this....anyways).

Anyways, my dad has been very insistent on me looking at both government and private loans. I filled out the FAFSA a couple of days ago but I fear it may be too late to receive aid in time. Is this true, and if so, do I need to start seeking private loans? This is at an MD program which offers aid by the way, so it's not like the federal loans are out of the question. Just not really sure what to do here and it's just another thing I have to deal with before classes start in August.

Get in touch with their financial aid office once you have filed the FAFSA, they will help you get things set up for a federal loan.

 

[AJS59]

Hi! Just wanted to add to this thread; we got the loans situated and after some discussions with my dad and getting finances decided to accept the loan options as is.

One small complication is that he decided to originally foot the tuition bill (before the loans) but the school then applied the loans to my current semester tuition and refunded his check to me, and now I'm trying to figure out what to do here. My dad is okay with me using the money (from him) to pay for future rent and food costs but I just wanted to make sure that by keeping this money I'm not triggering some immense tax bomb. Any insight? Basically I'm trying to decide here between either:
-Keep the money to pay for future rent
-Apply it to the already accruing student loan
-Return it to him directly without paying off anything else