1. Dismiss Notice
  2. Download free Tapatalk for iPhone or Tapatalk for Android for your phone and follow the SDN forums with push notifications.
    Dismiss Notice
Dismiss Notice
Visit Interview Feedback to view and submit interview information.

Uhh, How Come My EFC is $0?

Discussion in 'Pre-Medical - MD' started by DesiMD, Feb 10, 2002.

  1. DesiMD

    DesiMD Junior Member
    7+ Year Member

    Joined:
    Jan 28, 2002
    Messages:
    17
    Likes Received:
    0
    Ok, this is odd. When I filed my FAFSA in high school, my EFC was like 30K+. I haven't filed since, but now I'm worried I did something wrong. My dad makes about 150K a year. Has around 150K in the bank, and about 50K in the market. He has no debt or anything, yet my EFC is 0? :confused:

    I'm not complaining, but just kinda confused, that's all. How does my EFC go from over $30K to $0 when my family's financial situation has only improved? I'm pretty sure I filled everything out correctly as well. Anyone else get the same thing?
     
  2. Note: SDN Members do not see this ad.

  3. Doctora Foxy

    7+ Year Member

    Joined:
    Jan 28, 2002
    Messages:
    5,368
    Likes Received:
    2
    Status:
    Medical Student
    Several SNDers got zero as well, just do a search for efc and you'll find lots of recent info.

    Don't forget that the EFC just looks at your info and disregards parental assets and income, as far as I know. So it's perfectly normal. Upon entry into med school you are independent from your parents and fafsa takes that into account.
     
  4. SMW

    SMW Grand Member
    7+ Year Member

    Joined:
    Jul 12, 2001
    Messages:
    3,760
    Likes Received:
    1
    Welcome to SDN!! :D There have been a lot of recent threads explaining the ins and outs of FAFSA for professional/graduate students. Read them for a lot of useful info. In a nutshell, the answer to your question is, because as a professional student you're considered independant, and your parents' income is not taken into account in calculating the EFC. The "family" in this case is you (+ spouse, if you have one). That doesn't mean that med schools won't take it into consideration when handing out their own grants/loans/scholarships -- they will in most cases. FAFSA is only for federal aid i.e. Stafford loans.
     
  5. DesiMD

    DesiMD Junior Member
    7+ Year Member

    Joined:
    Jan 28, 2002
    Messages:
    17
    Likes Received:
    0
    Thanks Doctor Foxy and SMW. That makes sense since I'm considered independent from my parents. A couple other quick questions for anyone who can answer them. What qualifies one for subsidized loans? Are you only eligibile for subsidized loans after you've taken the full amount out for unsubsidized loans?
     
  6. drjo2002

    drjo2002 Member
    7+ Year Member

    Joined:
    Jan 25, 2002
    Messages:
    77
    Likes Received:
    0
    subsidized loans are need based, so as long as you have need you can get those, once you take out the max sub loans you get the unsub. I think there is a max around 8500 or 6500 for med school students and then you get another 14500 or so in unsub. stafford ( you can check with the fin aid office at your med school to find out the exact values). Your EFC of zero should qualify you no problem :)
     
  7. rxfudd

    rxfudd 1K Member
    10+ Year Member

    Joined:
    Feb 13, 2001
    Messages:
    1,343
    Likes Received:
    4
    Status:
    Attending Physician
    </font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by drjo2002:
    <strong>I think there is a max around 8500 or 6500 for med school students and then you get another 14500 or so in unsub. stafford. </strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">Actually, there's a max on total Stafford loans of $38,500 - this means that you can take a maximum of $8,500 in subsidized and $30,000 unsubsidized.
     
  8. Badgerbabe

    Badgerbabe Senior Member
    10+ Year Member

    Joined:
    Jul 31, 2000
    Messages:
    175
    Likes Received:
    0
    Please tell me that's 38,500 per year, and not for the whole thing!!!
     
  9. rxfudd

    rxfudd 1K Member
    10+ Year Member

    Joined:
    Feb 13, 2001
    Messages:
    1,343
    Likes Received:
    4
    Status:
    Attending Physician
    Heh...yes, per year.
     
  10. drjo2002

    drjo2002 Member
    7+ Year Member

    Joined:
    Jan 25, 2002
    Messages:
    77
    Likes Received:
    0
    yeah, so I was close with the sub estimate... thanks for listing the real values :) I didn't think it was quite that high for some reason I thought it was around 24,000 total for the year.
     

Share This Page