Question about cost of attendance and MSAR average graduate indebtedness

[throwitallaway]

How can the average graduate indebtedness for all 4 years be significantly (up to 100k) less than the cost of attendance for all four years at several of the schools I am looking at?

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[Rachapkis]

First, remember that we are talking about averages. If someone's parents pay for school, they have zero debt. That person is going to significantly lower the average debt. Second, some matriculants receive need-based aid, which also reduces the average debt. Third, some of the more prestigious schools have large endowments and provide merit-based aid, which also reduces the average debt.

 

[meronebib]

That number is not accurate. If a school determines your EFC to be a certain number, then whatever portion of your COA - EFC that they can’t cover with grants and scholarships is considered your debt. The issue with this is that many students have an EFC above $0 but don’t receive any aid from their parents, so their debt turns out to be higher than what the school calculates.

 

[RangerBob]

That number is not accurate. If a school determines your EFC to be a certain number, then whatever portion of your COA - EFC that they can’t cover with grants and scholarships is considered your debt. The issue with this is that many students have an EFC above $0 but don’t receive any aid from their parents, so their debt turns out to be higher than what the school calculates.

EFC is often $0 because as a graduate/professional student your parents' income is not taken into account (at least it wasn't when I applied). You will get less priority for institutional scholarships/grants than people from low-income/disadvantaged backgrounds, but you can still be eligible.

The main reason for the discrepancy is what the above poster stated--lots of students who didn't have to borrow money in the first place. Lots of my classmates had two physician parents, drove Mercedes, etc. Many had parents wealthy for other reasons. They didn't have to borrow anything.

I had an older beat up pickup and thought I was doing pretty well with that... Either way, I borrowed the full cost. I got jealous of my wealthier classmates at times, but after I thought about it more I was actually quite happy for them that they were fortunate enough to not have to borrow the full cost of med school.

 

[meronebib]

EFC is often $0 because as a graduate/professional student your parents' income is not taken into account (at least it wasn't when I applied). You will get less priority for institutional scholarships/grants than people from low-income/disadvantaged backgrounds, but you can still be eligible.

The main reason for the discrepancy is what the above poster stated--lots of students who didn't have to borrow money in the first place. Lots of my classmates had two physician parents, drove Mercedes, etc. Many had parents wealthy for other reasons. They didn't have to borrow anything.

I had an older beat up pickup and thought I was doing pretty well with that... Either way, I borrowed the full cost. I got jealous of my wealthier classmates at times, but after I thought about it more I was actually quite happy for them that they were fortunate enough to not have to borrow the full cost of med school.

It depends on the school. The schools that I applied to all had an EFC for me. They also requested the CSS profile, if that counts for anything.

 

[plshelpvanxious]

My estimate CoA is like 80-90,000 per year I think, but they budget for travel, technology, books (that people often don't buy), and an more expensive apartment... so I'm actually taking out quite a bit less. CoA is inflated to help you get whatever loans you may need, but most people don't borrow the full amount (even without scholarships and outside help)

Edit: idk if all schools work like this, but mine only considers EFC for additional scholarships.