stay single or get married

[TweetiePie]

besides the obvious pros and cons, would it be advisable to get married or wait while borrowing the loans? how much does the spouse's income affect the eligibility for federal loans?

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[tricky]

Hey, I'm in the same boat! I wish someone answered your question other than me, who doesn't know the answer! Anyhow, I'm not getting married until May so I filled out the FAFSA honestly and stated "single". You could call the Financial Aid Dept. of the school that you will be attending--they are sure to have the answer. Good Luck!

 

[12R34Y]

would also love a response to this question!
thanks,

later

 

[gel1]

I have talked to several financial aid directors in top-20 MD programs. They say that the spouse's income should be considered as large a factor as your parents' income or your own savings in financial aid. All of you are responsible for the costs. I think that anywhere from 10-20% of the spouse's income is expected to be put towards financing the total cost. This means that the eligibility for loans is only affected if the spouse's income is great enough to remove your 'need' for them (regardless of whether or not your spouse agrees to supporting you this much). Most young married couples do not earn enough money combined to remove their loan eligibility.
In my case, my husband is also a med student. Neither of us has any income, therefore our aid is virtually unaffected. We will be given aid as though we were individuals (most schools assume shared rent, single or married). I hope this helps, but I also recommend contacting financial aid offices of schools that you are considering (even if you are not yet married). Many are very willing to help.

 

[Evil J]

Married, not in med school yet, however, I did go to a private college a while back.
When I applied, they wanted EVERY bit of tax information on my wife that they could get. I tried to say that we filed separately, but that did not matter. When they found out that my wife and her family owned their own business, they ate me alive with school loans. I could not get Pell Grants or anything, other than an assload of Perkin?s loans. I received a measly $1,000 scholarship, that I think they even made me pay back!!
Any who.... We almost decided to divorce, not out of problems in the marriage, but to afford school.
Here we are 8 years later, still married, 1 child and another on the way (still broke), and staring, dead on, into the face of med school. All I can say is, YES, your spouse DOES matter (especially if they are worth $$$ actual or just on paper, as in my wife?s case.), it will affect the types of loans you can receive (pell grants or perkin?s sub?d and unsub?d).
I can also say, HEY, I did make it through! It was only a 27k debt, but it is possible to do. Sometimes, it can even benefit you (i.e. your spouse works and helps put you through school.) There are many pro?s and con?s to school and marriage, but the choice is yours! Weigh your options? Hope this helps!

 

[deebird]

I've looked into this very same issue, and if you're married, your spouse's income is considered your income, regardless of any and all mitigating factors. So, if you're hoping for the maximum of low-interested loans and/or grants, better hold off on those wedding bells for a few years. Just my $0.02... DB

 

[Brian20]

just remember that if you do get married while in medical school, your spouse is entitled to half of your medical degree which means if you divorce, they get half of your income...this comes from an orthopedic surgeon i met two summers ago....he's a bit bitter....from experience.

but good luck with school and marriage

 

[TweetiePie]

doctor-in-law? i thought of that. i guess i would have to get a good lawyer and a prenup :wink:

 

[AYLC]

What I heard from my finacial aid office is that they will only award you the amount of money as single student not a married couple even you are married at the time of filing. As spouse income affecting the award.... like other said, only if your spouse is making hell lot of money. Yet I don't know what is the cut off line. Can anyone answer this?

 

[lady in red]

I am not sure about the legal/financial stuff, but think of all the other perks: no need to go to waste time/money looking for a girlfriend; you'll never be lonely; worry-free sex; spouse can be an excellent domestic help (when i was married, mine did EVERYTHING, I was very lucky); they can give you free massage; pick-up shopping/chores/bill-paying when you have exams; they are your best friend--you can ALWAYS or almost always rely on them;
Don't mean to sound materialistic, but I think being married in med school is a huge plus for a variety of reasons. I was married throughout undergrad and never regret it.

 

[TweetiePie]

lady in red, having the marriage certificate will not add to any of the abovementioned perks (all u gotta do is move in together), but it might cut the financial aid package in half.

 

[lady in red]

Not unless your spouse is well-off. But basing decision to marry/not to marry on your financial aid offer sounds sketchy to me.

 

[TweetiePie]

i am not having my future husband pay for my tuition!

 

[Astrid]

Is that for real that your ex-spouse is entitled to half your income if you divorce?? Whatever! What if you get married, but they dont actually contribute to your tuition/support?
And is that in ALL professions, or just the medical field?