• AMA with Certified Student Loan Professional

    Join SDN on December 7th at 6:00 PM Eastern as we host Andrew Paulson of StudentLoanAdvice.com for an AMA webinar. He'll be answering your questions about how to best manage your student loans. Register now!

Please help: NYMC financial aid policy

mp457

Member
10+ Year Member
5+ Year Member
Jul 6, 2005
47
0
    NYMC requires that students include parental tax info in their fafsa. But I am over 24, a graduate school student, and financially independent. How did you or will you file your fafsa if you are in my situation? Thanks.
     

    BOBODR

    Senior Member
    10+ Year Member
    7+ Year Member
    Nov 6, 2004
    966
    1
    winston salem, carolina
      mp457 said:
      NYMC requires that students include parental tax info in their fafsa. But I am over 24, a graduate school student, and financially independent. How did you or will you file your fafsa if you are in my situation? Thanks.


      I am not sure. Have you interviewed and been accepted already? I am asking because I am waitlisted, do we will out the FAFSA for schools we are waitlisted at?

      I saw your interview was in march so you may be in my position of not knowing yet.
       

      BerkeleyMD

      Senior Member
      10+ Year Member
      5+ Year Member
      Oct 20, 2005
      421
      0
      1. Medical Student
        Putting financial info makes you eligible for institutional aid. However, just because you are eligible that does not mean you will get it. Usually this info is to help disadvantaged students. So if you parental income is low, you should put this down as it will help you get more aid. If it is substantial (IMO >100K/yr) then don't put it down regardless.

        I was going to put my parental income down, but recently decided not to. I am just waiting for my W2's to send out my FASFA.

        If you are applying/already accepted to med school the FASFA form states that you don't need to put your parental info down.
         
        About the Ads

        Caligirl05

        Member
        10+ Year Member
        5+ Year Member
        Oct 13, 2005
        50
        1
        38
        MA, but CA resident
        1. Pre-Medical
          BerkeleyMD said:
          Putting financial info makes you eligible for institutional aid. However, just because you are eligible that does not mean you will get it. Usually this info is to help disadvantaged students. So if you parental income is low, you should put this down as it will help you get more aid. If it is substantial (IMO >100K/yr) then don't put it down regardless.

          I was going to put my parental income down, but recently decided not to. I am just waiting for my W2's to send out my FASFA.

          If you are applying/already accepted to med school the FASFA form states that you don't need to put your parental info down.

          I don't think just because it is greater than 100K/yr you shouldn't put it down. I think it really depends on the instituation you are looking for aid from. However, regardless of what your parents income is, I think you will still be eligible for the same loans. BerkeleyMD do you know if this is true? If your parents have a high income, and you declare it does that mean you are no longer eligible for certain government loans?

          As for schools, if the tuition is 60K a year, then if your parents only earn 100K you still might qualify for some need depending on what the rest of their financials look like. At schools like Duke, where they substract your FAFSA share (based on parent income) from the tuition and then give you a scholarship for half of the remaining amount it seems like it almost always beneficial to declare your parents information. I would call NYMC and talk to someone in financial aid.

          You NEED to fill out the FAFSA regardless of whether or not you are currently accepted to the school. Most schools have a deadline about when the FAFSA information is due. Check with the specific schools you are waiting to here from.
           

          BOBODR

          Senior Member
          10+ Year Member
          7+ Year Member
          Nov 6, 2004
          966
          1
          winston salem, carolina
            Caligirl05 said:
            I don't think just because it is greater than 100K/yr you shouldn't put it down. I think it really depends on the instituation you are looking for aid from. However, regardless of what your parents income is, I think you will still be eligible for the same loans. BerkeleyMD do you know if this is true? If your parents have a high income, and you declare it does that mean you are no longer eligible for certain government loans?

            As for schools, if the tuition is 60K a year, then if your parents only earn 100K you still might qualify for some need depending on what the rest of their financials look like. At schools like Duke, where they substract your FAFSA share (based on parent income) from the tuition and then give you a scholarship for half of the remaining amount it seems like it almost always beneficial to declare your parents information. I would call NYMC and talk to someone in financial aid.

            You NEED to fill out the FAFSA regardless of whether or not you are currently accepted to the school. Most schools have a deadline about when the FAFSA information is due. Check with the specific schools you are waiting to here from.


            Cailgirl did you ever hear from NYMC, I am wondering if they got to the November interviewees yet?
             

            bluenebula83

            Member
            10+ Year Member
            7+ Year Member
            Jul 7, 2005
            141
            1
              BerkeleyMD said:
              Putting financial info makes you eligible for institutional aid. However, just because you are eligible that does not mean you will get it. Usually this info is to help disadvantaged students. So if you parental income is low, you should put this down as it will help you get more aid. If it is substantial (IMO >100K/yr) then don't put it down regardless.

              I was going to put my parental income down, but recently decided not to. I am just waiting for my W2's to send out my FASFA.

              If you are applying/already accepted to med school the FASFA form states that you don't need to put your parental info down.
              do u guys know when you get ur W2a?! thanks.
               

              CruiseLover

              Member
              10+ Year Member
              5+ Year Member
              Nov 7, 2005
              96
              2
              1. Pre-Medical
                I think this has been addressed before, but on the FAFSA form, it states that the parents information may be requested anyway. Please check with your individual schools. At our state school it is REQUIRED to put down your parents info if requested to be eligible for any school aid. So no matter what the parents make, the school DEMANDS to know what that is, or they will pass you over. This varies from school to school, so I don't think anyone can make a blanket statement on SDN. It is a fact that the government considers us independent no matter whether parents info is down or not.
                 

                Jaider

                Senior Member
                10+ Year Member
                5+ Year Member
                Oct 2, 2005
                271
                0
                  CruiseLover said:
                  I think this has been addressed before, but on the FAFSA form, it states that the parents information may be requested anyway. Please check with your individual schools. At our state school it is REQUIRED to put down your parents info if requested to be eligible for any school aid. So no matter what the parents make, the school DEMANDS to know what that is, or they will pass you over. This varies from school to school, so I don't think anyone can make a blanket statement on SDN. It is a fact that the government considers us independent no matter whether parents info is down or not.

                  CruiseLover, this has nothing to do with anything, but do you love Cruise as in Tom Cruise? :) Or, like, cruisin'. :laugh: Just curious. I think Tom Cruise is lovely, but he's turned into a monster. But he's still lovely. If I knew he was into average-looking 26 year olds, I'd have passed him my number. :thumbup:
                   

                  mp457

                  Member
                  10+ Year Member
                  5+ Year Member
                  Jul 6, 2005
                  47
                  0
                    BerkeleyMD said:
                    Putting financial info makes you eligible for institutional aid. However, just because you are eligible that does not mean you will get it. Usually this info is to help disadvantaged students. So if you parental income is low, you should put this down as it will help you get more aid. If it is substantial (IMO >100K/yr) then don't put it down regardless.

                    I was going to put my parental income down, but recently decided not to. I am just waiting for my W2's to send out my FASFA.

                    If you are applying/already accepted to med school the FASFA form states that you don't need to put your parental info down.


                    i actually called nymc and they mandate all students to file their parents' tax info (look into their financial aid "frequently asked questions" on their website).

                    i do know that policies vary from school to school. i guess i did not make it clear on my initial post. i thought that the fafsa website would not even let me put down parental info because it could recognize that i was over 24. we will see. i should probably try doing it myself.

                    good luck guys.

                    p.s. for those of you who interviewed in late december, send me a message if you hear from them. PLEASE :)
                     
                    About the Ads
                    This thread is more than 15 years old.

                    Your message may be considered spam for the following reasons:

                    1. Your new thread title is very short, and likely is unhelpful.
                    2. Your reply is very short and likely does not add anything to the thread.
                    3. Your reply is very long and likely does not add anything to the thread.
                    4. It is very likely that it does not need any further discussion and thus bumping it serves no purpose.
                    5. Your message is mostly quotes or spoilers.
                    6. Your reply has occurred very quickly after a previous reply and likely does not add anything to the thread.
                    7. This thread is locked.