Question about Need Based Aid

[Afford]

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Hi,

Is need based aid calculated by weighing the income of students+parents equally or weighing parents' income more or only weighing parents' income and ignoring students' income?

 

[el_duderino]

Need-based aid isn't a thing in med school as far as I know.

Are you talking about undergrad?

 

[Afford]

Need-based aid isn't a thing in med school as far as I know.

Are you talking about undergrad?

No some schools give need based aid, but it's probably centered more on private med schools with larger endowments.

 

[mik30102]

^Need based aid is given by a few medical schools but is highly school dependent. I think most schools that do offer some need based aid would go based of the your efc which weighs your income more then your parents.

 

[ponyo]

I agree that it is highly school dependent. For my package at my current school, my expected student contribution was 8% of my annual salary at the time; my parents' expected contribution was about 7% of their salary. I had a unit loan of about 20k and then got aid for the rest of my CoA. At one of the other schools I got into, my expected contribution was about 20% of my salary and 10% of my parents' salary, plus a 30kish unit loan. So it seems pretty variable.

 

[ndafife]

Your FAFSA and federal loans are based off of the student's savings and income only (once you have a Bachelor's degree).

However, need-based aid is really school dependent and most factor in your parents income