Submitting FAFSA

[CyrusHabs7695]

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Is it beneficial to submit the FAFSA early (i.e. this week) instead of in the spring? Would all the financial aid money be gone if you waited until the spring, or does it not work like that?

Sorry if these are obvious questions, but Im not totally sure how this works.

Thanks in advance

 

[premed1234567890]

Would also like to know

 

[hubbsbubbs]

I know adcoms don't work for the financial aid office, tho this is very important for many of us, so advice is appreciated. @gonnif @LizzyM

 

[pprbckwrtr]

Was wondering the same thing! Thanks for making the thread 🙂

 

[I'mJustCurious]

I honestly already submitted mine because I rather just get it out of the way.

 

[tiramisucheese]

I would just submit it now if you can. It really doesn't take that long since it can automatically link your 2016 tax return from the IRS.

 

[CyrusHabs7695]

I havent started it yet, but you have to list schools and their codes correct? What happens if I fill it out today, and then get an acceptance somewhere in December, can I go in and add schools?

 

[tiramisucheese]

I havent started it yet, but you have to list schools and their codes correct? What happens if I fill it out today, and then get an acceptance somewhere in December, can I go in and add schools?

Yeah, you just go in and make edits to your completed FAFSA. You can add and remove schools as many times as you want, but it can never exceed 10 schools.

 

[LizzyM]

I have no idea...

 

[Jdp00921]

Submitted mine yesterday!

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[Zazam]

I spoke to a financial aid person today, and they said that their school sends out financial aid information in January or so... They said it still wouldn't be considered "late" if you filled out your FAFSA then. I guess it's different for graduate degrees since we're all getting loans instead of grants.

 

[hahapencil]

Thoughts on whether to include to include my parents info or just leave it out?

 

[CyrusHabs7695]

Thoughts on whether to include to include my parents info or just leave it out?

This might be a very dumb question, but does parents income play a role in the amount of financial aid we receive, like undergrad?

 

[LizzyM]

This might be a very dumb question, but does parents income play a role in the amount of financial aid we receive, like undergrad?

At some schools, some need-based grants will be based on income including parental income. Most students don't have their own money but you can imagine that it would seem more just to give a $10K need-based grant to an incoming student whose parents make 40K last year than to give it to someone whose parents have an annual income of $400K.

 

[DrDwayneJohnson]

This might be a very dumb question, but does parents income play a role in the amount of financial aid we receive, like undergrad?

At some schools, some need-based grants will be based on income including parental income. Most students don't have their own money but you can imagine that it would seem more just to give a $10K need-based grant to an incoming student who's parents make 40K last year than to give it to someone whose parents have an annual income of $400K.

I believe all of my financial aid presentations mentioned that financial need is based off your parental income unless you're 30 and/or possibly if you're married. This could absolutely be different based on the school. I did it on mine just in case. My family is relatively poor, though, so I thought it could only help in my circumstances.

 

[SharpShins]

4) Some schools will not process or provide any financial aid until after you have settled on a single acceptance (April 30). You may have to choose a school without any FA info.[/QUOTE

Is this the exception rather than the rule? That's incredibly unfair to have to choose a school without full knowledge of the financial consequences. There's a wide range of "average" student debt at each school and a low income student may end up being able to attend a higher average debt school if they have all their financial aid offers in hand to make that decision.

 

[hubbsbubbs]

On FAFSA application, if applying this cycle, do we choose 2018-2019 or 2017-2018?

 

[wysdoc]

Thoughts on whether to include to include my parents info or just leave it out?

Help - FAFSA on the Web – Federal Student Aid If you will be in graduate school (and med school fits this description) you generally do not supply your parent information.

Notice that it says "some" law and health professions students are asked to submit parents information. This info is used to decide which students might get financial aid sponsored by the school. The parental information in this case does not affect the student's eligibility for federal loans. FAFSA for Graduate Students: Is Parent Information Required?

 

[Piglet2020]

Tagging myself on here for financial aid resources cuz I'm broke

 

[calivianya]

Speaking of FAFSA, is there any way to appeal the FAFSA's expected family contribution? I know this is out of the scope of this forum, but I thought I'd ask.

Both of my parents are retired due to health issues. Unfortunately, my dad received 10 years of retirement benefits from his main employer, the last year of which was 2016. For 2017, my parents will report a total income of $0 since Social Security does not count and that's all they've got, but they unfortunately reported over $80k in wages/income for 2016 - all of which went to bills/housing/>$1000 per month in prescription medications and the leftover costs of several hospitalizations. They are, in reality, completely broke.

I think it's a little unfair that their money (that doesn't even exist because of their health situations) is counting against me. I feel like my income is also counting against me since I made slightly more than my parents last year - but hell, I'm not going to be able to work full time when I'm in med school, and besides, I've saved absolutely none of it because I've been paying tuition for my undergrad and application fees out of pocket. I feel like I'll be lucky to pull $20k/year once I'm in school, if I even make that much.

The whole process seems like BS. What my income looks like even TODAY is not relevant to what my income's going to look like next year, and they're not even basing it on today's money.

 

[wysdoc]

Speaking of FAFSA, is there any way to appeal the FAFSA's expected family contribution? I know this is out of the scope of this forum, but I thought I'd ask.

Both of my parents are retired due to health issues. Unfortunately, my dad received 10 years of retirement benefits from his main employer, the last year of which was 2016. For 2017, my parents will report a total income of $0 since Social Security does not count and that's all they've got, but they unfortunately reported over $80k in wages/income for 2016 - all of which went to bills/housing/>$1000 per month in prescription medications and the leftover costs of several hospitalizations. They are, in reality, completely broke.

I think it's a little unfair that their money (that doesn't even exist because of their health situations) is counting against me. I feel like my income is also counting against me since I made slightly more than my parents last year - but hell, I'm not going to be able to work full time when I'm in med school, and besides, I've saved absolutely none of it because I've been paying tuition for my undergrad and application fees out of pocket. I feel like I'll be lucky to pull $20k/year once I'm in school, if I even make that much.

The whole process seems like BS. What my income looks like even TODAY is not relevant to what my income's going to look like next year, and they're not even basing it on today's money.

Yes, when a family's financial situation changes drastically as you describe, you will go to the financial aid office of the school you attend and ask them to do a Professional Judgement Review of your financial status. Go in with a pleasant and matter of fact attitude (it's not a bargaining session, it's an update session because your circumstances have changed). They will take into consideration the new information and change your EFC (Expected Family Contribution).This might help you out for the final year of college, when you are still considered a dependent.

For med school, your parent income is not considered. If you need to do the same sort of thing with your med school's financial aid office, you can. What I mean is, you were working during 2016 and 2017 but will not be working during med school so your income will fall to zero.

 

[calivianya]

Yes, when a family's financial situation changes drastically as you describe, you will go to the financial aid office of the school you attend and ask them to do a Professional Judgement Review of your financial status. Go in with a pleasant and matter of fact attitude (it's not a bargaining session, it's an update session because your circumstances have changed). They will take into consideration the new information and change your EFC (Expected Family Contribution).This might help you out for the final year of college, when you are still considered a dependent.

For med school, your parent income is not considered. If you need to do the same sort of thing with your med school's financial aid office, you can. What I mean is, you were working during 2016 and 2017 but will not be working during med school so your income will fall to zero.

Thank you so much! I've never had to apply for financial aid before (paid for cheap state school education out of pocket), so I literally have no idea of how this process works.

 

[wysdoc]

Thank you so much! I've never had to apply for financial aid before (paid for cheap state school education out of pocket), so I literally have no idea of how this process works.

You’re welcome - and FAFSA.gov website has lots of very helpful info and answers to just about any question you could think of

 

[coffee101]

When do Fafsa loans post to our account (aka, when can we start using the money)? I heard there was a gap between when school starts and when the money comes in. i.e., we would have to pay for a part of the tuition out-of-pocket first.....