Wait for financial aid

[godawg300]

So I'd like to get adcoms opinions on holding multiple acceptances and waiting for financial aid decisions. I'm sitting on 10 acceptances and waiting to hear back from 5 more (WL at 2 places). I like some places more than others but significant financial aid could change my opinion of any of the 10 schools. By March I should have heard back from everyone and could potentially be sitting on more than 10 acceptances. My parents won't be able to file their taxes for a little while and so I might not get those financial aid decisions until April. Would it be okay to hold on to all of these until then? Or is it better to just eliminate half based on personal preference? I know I can technically wait until April 30th, but I'd rather make my decision faster. Financial factors are #1 for me and location #2.

---

Members don't see this ad.

 

[breakintheroof]

Congratulations on the acceptances! I remember you correctly predicted this would be an issue back in November:

Is there a realistic cap on this. If I have 12 offers, can I still wait until March without schools having a negative view of me . Assuming I want to choose a cheaper school and financial aid would be a huge deciding factor for me.?

The SDN consensus on that thread was that it was OK to hold your acceptances, with both @LizzyM and @gyngyn weighing in. Elsewhere, some advisors urge applicants to drop those that are far down your list. (I have been given this advice IRL, as has @hellanutella.)

Has something changed since this was last discussed? I support making way for other applicants, but it doesn't make sense to do so pre-financial aid given that financial considerations are paramount.

 

[godawg300]

Well some schools have told me they won't have packages ready until mid April....so I don't want to drop a school prematurely so that's why I'm asking again. I feel like I would be choosing blindly if I drop even those further down my list too soon.

 

[breakintheroof]

Well some schools have told me they won't have packages ready until mid April....so I don't want to drop a school prematurely so that's why I'm asking again. I feel like I would be choosing blindly if I drop even those further down my list too soon.

It seems to me that if you feel like you can't make your decision yet, you shouldn't make it.

I certainly understand wanting to avoid the appearance of greed. Based on what adcoms said in the other thread, though, I suspect they will be able to tell that you are looking for your best offer so long as you drop schools as soon as soon as they reveal themselves to be less than generous.

I personally think that there are applicants out there who hold onto 12+ acceptances and are not in the same finances-first mindset as you. You can find MDApps profiles out there of people who waited for lots of financial aid offers and then just went to their highest-ranked acceptance. It could be they who give the rest a bad name.

 

[hellanutella]

SDN's approach: It seems the SDN consensus is to hold whatever acceptances you receive – assuming, of course, that you would be happy attending any one of those schools. You are fully within your rights to do this and you'll not have to live with the fear of turning down a school that would have otherwise given you an awesome aid package. (And congrats on all those acceptances!).

What some advisors say: I was told by my pre-health counsellor to drop acceptances as I go (they went so far as to suggest that I only hold 1 acceptance at a time, which I personally do not agree with).

What I'm doing: Initially, I went about dropping acceptances which, in hindsight, was not the most financially prudent decision. However, I didn't feel like I would have been the best fit for these schools. More importantly, I was 100% comfortable going into more debt to attend my top choice versus accepting a handsome aid package at one of my lower-choice schools. I feel guilty about holding 3+ seats right now, but without financial information I don't feel like I can make a well-informed final choice.

The problem: The sad reality is that we probably won't get full aid packages until mid-April, so many people will have to hold onto multiple schools and make a quick decision in that 2-week span before April 30th. I'm hoping packages trickle out sooner, but it's very hard to speed up the finaid process. Just do your best to send in your FAFSA and/or NeedAccess in a timely manner, complete all school-specific finaid forms, and urge your parental unit(s) to complete their taxes asap. Research school info now – ex: if one of your schools instructs you not to use estimated income values, then don't do it... you'll only end up slowing down the process and making more work for finaid workers.

tl;dr: if you wouldn't pick a particular school over another, even with a lavish aid package, decline your seat. Get financial aid info ready sooner rather than later. Be aware of deadlines. And wait.

 

[breakintheroof]

What I'm doing: ... I was 100% comfortable going into more debt to attend my top choice versus accepting a handsome aid package at one of my lower-choice schools. I feel guilty about holding 3+ seats right now, but without financial information I don't feel like I can make a well-informed final choice.

Precisely my own thinking.

 

[godawg300]

I think I would be comfortable going into more debt, but I'm not sure how much more. Maybe 50k more, idk about 100-200k more. I might go ahead and drop 2 that are at the bottom of my list and aren't known to give much scholarships (merit or need).

 

[Ace Khalifa]

What some advisors say: I was told by my pre-health counsellor to drop acceptances as I go (they went so far as to suggest that I only hold 1 acceptance at a time, which I personally do not agree with).

That is the dumbest thing I've ever heard. Those pre-health advisers are terrible.

 

[soccerusa]

I'm holding several acceptances as well. I won't drop them until I see the financial aid. It sucks, I know especially as I am on the WL at a few places as well. However, I don't think you can do anything else especially when there is so much money on the line.

 

[justadream]

What some advisors say: I was told by my pre-health counsellor to drop acceptances as I go (they went so far as to suggest that I only hold 1 acceptance at a time, which I personally do not agree with).

This is just idiotic.

There is no true benefit to yourself from withdrawing from any schools to which you were accepted.

 

[Scribblers]

This is just idiotic.

There is no true benefit to yourself from withdrawing from any schools to which you were accepted.

It's not about the benefit to the applicant holding the acceptances though. Many of us here are in a bit of a bubble surrounded mostly by other people holding multiple acceptances. It's easy to forget that the wait for that first acceptance is hugely stressful, especially as we get into the part of the year where people have to start thinking about reapplying. Giving up a spot at a school that you are less interested now can save someone else several months of angst. I understand the desire to wait for financial aid, since there's really nothing to lose by doing that, but if it's going to take tens of thousands of dollars in financial aid to get you to pick school B over school A, then it's really not realistic to sit on school B just because very few people are so exceptional that they can expect that kind of financial aid. Giving up the spot in school B now means some other applicant down the line doesn't need to think they're not getting into school for the next 3 months.

That being said, medical school is ludicrously expensive, so I can't really hold any ill will towards someone taking as many pulls at the financial aid slot machine as they can get.

 

[Ace Khalifa]

If someone worked hard to get 6+ acceptances, then they've EARNED those 6+ seats. Yeah it sucks for those who are still waiting for the first acceptance, but like @Goro says, patience is a virtue. If it was meant for one to be accepted off a waitlist late in the season, then it'll happen.

 

[breakintheroof]

It's not about the benefit to the applicant holding the acceptances though. Many of us here are in a bit of a bubble surrounded mostly by other people holding multiple acceptances. It's easy to forget that the wait for that first acceptance is hugely stressful, especially as we get into the part of the year where people have to start thinking about reapplying. Giving up a spot at a school that you are less interested now can save someone else several months of angst. I understand the desire to wait for financial aid, since there's really nothing to lose by doing that, but if it's going to take tens of thousands of dollars in financial aid to get you to pick school B over school A, then it's really not realistic to sit on school B just because very few people are so exceptional that they can expect that kind of financial aid. Giving up the spot in school B now means some other applicant down the line doesn't need to think they're not getting into school for the next 3 months.

That being said, medical school is ludicrously expensive, so I can't really hold any ill will towards someone taking as many pulls at the financial aid slot machine as they can get.

I'm very sympathetic to this, @Scribblers. I have had my perspective changed somewhat over this cycle, however, by people who appear to be truly holding out for their best financial offer. That's why I came to this thread.

I do think that having "earned it" is a less than satisfactory response to what you describe. The question is not how you got it, but what you'll do with it. Personally I feel that someone with, say, 20 acceptances was clearly a strong enough applicant that they did not need to even apply to 20 schools! That person has "earned" their acceptances in part through suboptimal strategy. I would find it hard to believe that someone in that situation would truly attend any of 20 schools given the right offer. But if they act quickly to drop schools as aid comes in, I will admit to being wrong to judge them.

 

[NickNaylor]

I see no problem with holding as many acceptances as you want while you wait for financial aid decisions. As others have mentioned, if there are any schools that you are very unlikely to attend (and from your post that doesn't sound like the case), then withdraw from those places - not for any altruistic reason but largely to allow you to focus on a small number of schools.

You can consider e-mailing the schools and seeing if it's possible to receive financial aid decisions earlier. If the schools have second look weekends and your decision to attend that school is dependent on the financial aid package that you receive, let them know that. Some may do their best to try and get you that information earl.y.

If the fundamental issue is, "I feel bad holding a lot of acceptances," then don't - especially if it isn't our of the realm of possibility for you to end up at any one of them,.

 

[hellanutella]

That is the dumbest thing I've ever heard. Those pre-health advisers are terrible.

This is just idiotic.

There is no true benefit to yourself from withdrawing from any schools to which you were accepted.

Yes, I absolutely agree. I did not argue with my advisor over this, but chose to disregard their advice.

However, I can see where my advisor is coming from – at my UG they're more concerned with getting their students into a medical school rather than helping them sift through multiple offers and snipe out the best finaid package. Based off the people I've met from my UG, it wasn't usual for students to get an acceptance to a US MD school... let alone multiple acceptances.

That being said, medical school is ludicrously expensive, so I can't really hold any ill will towards someone taking as many pulls at the financial aid slot machine as they can get.

I love this analogy. "The financial aid slot machine."

I just recall the admissions staff at one of my interviews cautioning the superstar applicants to be aware of how many acceptances they're holding down to the wire. They mentioned a case of a student who was holding a whopping twenty-two acceptances up until May 15th, and were crossing their fingers the student didn't choose to attend. You are totally within your rights to do this... but it ain't the kindest move.

 

[breakintheroof]

I just recall the admissions staff at one of my interviews cautioning the superstar applicants to be aware of how many acceptances they're holding down to the wire. They mentioned a case of a student who was holding a whopping twenty-two acceptances up until May 15th, and were crossing their fingers the student didn't choose to attend. You are totally within your rights to do this... but it ain't the kindest move.

The few applicants like this certainly make an impression. I recently stumbled across a letter from a few years ago written by a former Johns Hopkins assistant dean of admissions. His "Admissions Dean's Pet-Peeves" include:

Applicants who hold many acceptances for a long period of time, and especially those who hold multiple acceptances after the deadline date of May 15. This shows a lack of sensitivity to peers, i.e. other applicants, and disrespect to medical schools. If an applicant needlessly held a large number of acceptances in addition to one at my school, I’d want him / her to go elsewhere.

 

[DoctorLacrosse]

even as someone still waiting for that first MD acceptance, I think you've earned the right to wait for whatever information you need to make an informed decision. hold onto them, but the moment you know where you definitely won't end up, withdraw. you obviously did earn all of these, so that's your right.

with that said, I couldn't imagine holding 10 acceptances and not being able to immediately cut at least 4-5 based on other factors. clearly everyone chooses their school for different reasons, and if price is your #1 factor, then withdrawing prematurely wouldn't make sense. best of luck

 

[godawg300]

even as someone still waiting for that first MD acceptance, I think you've earned the right to wait for whatever information you need to make an informed decision. hold onto them, but the moment you know where you definitely won't end up, withdraw. you obviously did earn all of these, so that's your right.

with that said, I couldn't imagine holding 10 acceptances and not being able to immediately cut at least 4-5 based on other factors. clearly everyone chooses their school for different reasons, and if price is your #1 factor, then withdrawing prematurely wouldn't make sense. best of luck

I should say from the schools I have been admitted to, my number #1 factor is price. I withdrew from many interviews after I received my first acceptance and only attended interviews for schools I really liked. I'm still waiting on 5 more schools post-interview, but will withdraw proactively so that I'm not holding too many spots.

 

[DoctorLacrosse]

I should say from the schools I have been admitted to, my number #1 factor is price. I withdrew from many interviews after I received my first acceptance and only attended interviews for schools I really liked. I'm still waiting on 5 more schools post-interview, but will withdraw proactively so that I'm not holding too many spots.

I think that's all anyone can ask of you. you're not doing anything wrong. good luck with that inevitably tough decision! sucks you can only attend one, doesn't it?

 

[godawg300]

I think that's all anyone can ask of you. you're not doing anything wrong. good luck with that inevitably tough decision! sucks you can only attend one, doesn't it?

Well I have my top choice already. If their financial package is good, I'll be heading there for sure.

 

[NYCdude]

This is so bizarre. Even if you held all the acceptances until the last possible second, they still go to someone else eventually. Do what's in your best interest man.

 

[justadream]

Yes, I absolutely agree. I did not argue with my advisor over this, but chose to disregard their advice.

However, I can see where my advisor is coming from – at my UG they're more concerned with getting their students into a medical school rather than helping them sift through multiple offers and snipe out the best finaid package. Based off the people I've met from my UG, it wasn't usual for students to get an acceptance to a US MD school... let alone multiple acceptances.



I love this analogy. "The financial aid slot machine."

I just recall the admissions staff at one of my interviews cautioning the superstar applicants to be aware of how many acceptances they're holding down to the wire. They mentioned a case of a student who was holding a whopping twenty-two acceptances up until May 15th, and were crossing their fingers the student didn't choose to attend. You are totally within your rights to do this... but it ain't the kindest move.

Hmm that is interesting. I'm wondering whether, when it gets close to May, whether it might be beneficial to drop some acceptances if medical schools think that holding so many = "not interested" or "little chance he comes here".

Why were they hoping the student didn't choose to attend though?

 

[hellanutella]

Hmm that is interesting. I'm wondering whether, when it gets close to May, whether it might be beneficial to drop some acceptances if medical schools think that holding so many = "not interested" or "little chance he comes here".

Why were they hoping the student didn't choose to attend though?

Honestly, I think it'll have little effect. Either way, you'll have to drop all but one acceptance come April 30th.

The school did not think it was a good show of character to hold 22 acceptances on May 14th (interview-day quote: "seriously, how many schools can you legitimately be deciding between?"), especially since this student had presumably received all 22 finaid packages well before then.

 

[justadream]

Honestly, I think it'll have little effect. Either way, you'll have to drop all but one acceptance come April 30th.

The school did not think it was a good show of character to hold 22 acceptances on May 14th (interview-day quote: "seriously, how many schools can you legitimately be deciding between?"), especially since this student had presumably received all 22 finaid packages well before then.

So if you have to drop all but one on April 30th, how did this guy have more than one in May?

 

[hellanutella]

So if you have to drop all but one on April 30th, how did this guy have more than one in May?

Because last year the deadline was May 15th. They bumped the date up this year.

Edit: SouthernSurgeon beat me on the quick-draw.