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Parent Contribution

Discussion in 'Financial Aid' started by jasmine, Apr 7, 2002.

  1. jasmine

    jasmine Member
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    Hi all

    I did a search for this topic but I have a question that still needs answered...

    The school where I'm matriculating requires on their financial aid application that I declare the resources I expect my parents to contribute. I've been working for a couple of years and so I didn't declare their financial information on my FAFSA - so I dont' know how much they're supposed to contribute. My mom (pragmatic woman) said, well say we're not giving you anything, but I'm not really feeling like that's very honest. Anyone in a similar situation or have any ideas how to figure this out?

    I'm REALLY late in putting this all together. Doh.
     
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  3. KyGrlDr2B

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    My parents are divorced and plan to help me out a little, but it will really only just cover my rent for the year. I'm deducting how much they give me from the amt I borrow, but then I started to worry. What if something happens to one of them and they aren't able to give me as much? You never know what can happen. For you, I think you should say that they are contributing nothing. Unless they plan to pay for everything, you are gonna need money and you don't want anything to hurt that. It's not like you are lying...you never know what can happen a few months from now that can change the situation.
     
  4. Doctora Foxy

    7+ Year Member

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    I put down that they were going to give me nothing. Realistically, they will probably give me a little if I need it. But what's important for the FA application is that you include their ASSETS and TAX INFO. So basically, when the school requests parent info, they are looking to see if you come from a family that is well-off or not. If you are in financial need as a member of your family, you will be eligibile for more need-based scholarships. It's not important to list how much they will contribute, because you are considered independent as a med student.

    So to sum up my rambling, provide their tax info (usually found on W2 and 1040 forms) and don't worry about their expected contribution. Always better to include their info just in case! Some schools won't even consider giving you money w/o providing parent info.

    hope this helps :)
     
  5. jasmine

    jasmine Member
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    Awesome, thanks for the good advice - you're right, Foxy, the school already requires that I submit parental information so they'll figure it out for themselves, anyway...

    Maybe I can finish this tonight, now...!
     
  6. Resident Alien

    7+ Year Member

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    Jasmine, which school did you end up choosing?! Just wondering
     

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