Paying 1st year in cash ONLY

Discussion in 'Financial Aid' started by DOtally great, Mar 20, 2004.

  1. DOtally great

    DOtally great Member
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    Hey everyone I have a question... What if a student was able 2 pay off their 1st year of med/dental school in cash (with help from family members) but would pay for the next 3 years of school with loans.. would the student need 2 fill out any fafsa or other papers/forms about $ during his 1st year ?? I would appreciate any responses thank u :clap:
     
  2. Olanzapine

    Olanzapine Membership Revoked
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    You still should to take advantage of the subsidized loans. The money that the subsidized loans provide can be used to earn interest.
     
  3. mpp

    mpp SDN Moderator
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    If you are really set on spending that cash on tuition, then no, you don't need to fill out FAFSA. However, olanzapine is right about the subsidized loans.

    Even the unsubsidized loans are a good deal and you might be better off taking that cash and using it as a downpayment for a house/condo to save youself some rent and perhaps make some money if the value of the property goes up (as it usually does).
     
  4. DOtally great

    DOtally great Member
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    its not that i dont want 2 invest...its just that i saved some $, my parents and bro and aunt and uncle r gonna all chip in a lil 2 try and pay off for 1st year.... but if i pay for the 1st year in cash I dont need to fill out fafsa? I can always fill out fafsa for 2nd year w/o any penalties? thanx guys :)
     
  5. Olanzapine

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    yup. it's not neccessary to fill out the fasfa on years that you don't want anything.
     
  6. DOtally great

    DOtally great Member
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    very much everyone =)))))
     

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