He will try to go to 4 out of 6. He pretty much eliminated 2 and will probably withdraw.
In terms of FAFSA I figured it all out today. Went through every school paperwork and as far as I understand he doesn’t have to include our financial info at all because he will not get institutional financial aid anyway. So this makes it easier and less paperwork to fill out. He’s pretty much just applying for loans.
@momworried others here are probably more knowledgeable than I on this subject, but you don’t have to fill out 2 versions of the FAFSA. Your son fills out one with his financial information, and if parent info is required, you fill out one with parents financial information. In addition, some private schools require the Needs Access, which is parental information, and a bigger headache than the FAFSA.
If it is a state school that only requires a FAFSA with son’s information, and he has been a full time student and has low income and little other money in his name, he will probably qualify for full cost of attendance with federal loans - Stafford loan and Grad Plus. Even if parental information is required, it doesn’t mean you will automatically be expected to pay. D1 went to a private law school, We had a pretty substantial EFC for her private undergrad. She did not take out loans, we paid what was not covered by scholarships. When she went to law school, we had to fill out the FAFSA and Needs Access, but she ended up qualifying for Federal loans up to the cost of attendance.
If your son is intending to borrow money through federal loans, you all should fill out the FAFSA(s) and Needs Access pretty soon - schools have priority deadlines for when these need to be done and when loan forms need to be turned in. For example, at D2’s medical school, the priority deadline for having completed the FAFSA and federal loan request forms is March 1st, to ensure that the financial aid package is ready by the start of classes. In addition, some schools have separate forms to fill out for scholarships that also have deadlines. You can find the financial aid calendar with dates and deadlines on each school’s website.
The way I understand it, and please someone correct me if I’m wrong, since our income is too high there’s no need to fill out need access financial aid because he won’t get it anyway. His deadlines are end of March and early April
It may be hard to know what income is considered too high to get aid. According to the Need Access website FAQ:
"Q - My parent’s income may be too high for me to qualify for need-based aid. Should I still apply for Need Access? How do my parent’s assets affect my chances of receiving need-based aid?
You should always apply for Need Access to see if you are offered any school-based aid. The Need Access application does not have any income or asset restrictions. There may be scholarships, grants, or loans available at your school based on other criteria uncovered in the Need Access application."
And some schools (particularly private ones) may offer their own private loans that have better/different terms than Federal Direct loans. (e.g. no interest during med school)
It’s worth it to fill out the NeedAccess to see what is offered. You and your son may be pleasantly surprised. Or not.
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I am unsure of mom2collegekids son’s reasoning (but his scholarship didn’t hurt!
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S chose the school that we think just made the most sense. It is instate, so tuition is reasonable, he was offered some merit, and it is well ranked (altho ranking isn’t a big deal).
We had to give our D our financial info for FAFSA again this year- so she could qualify for federal loans. We would -have loved to avoid this- but she was told it was necessary. She gets no aid- only loans. Not sure if this is unique to her school, though.
According to federal regulations, medical student are eligible to take out federal direct students loans ($40K/year) in their own name without providing a parental FAFSA. Grad Plus loans (a different federal loan program than the student direct loans) may require a parental FAFSA if the student doesn’t otherwise qualify due to a non-existent or insufficiently high credit rating.
Six years of medical school down & done between the 2 kidlets and I’ve never been asked to file my financial info for them to get federal loans. But then neither girl has taken out a Grad Plus loan either.
My daughter asked me to fill out the FAFSA I think it has to do with possible grants or loans coming directly from her school.
Here is what Tufts says about Parent’s Financial Information:
A parent contribution will be calculated regardless of marital status and financial dependency[of the student], unless the student is 38 years or older when determining eligibility for institutional aid. If parental information is not provided, students will only be considered for federal funds.
If you did not qualify for financial aid as an undergraduate, do not assume that you will not qualify for financial aid as a medical student.
38 is the most idiotic age to pick. Most of the wouldn’t give too hoots about supporting a kid until 38.
Yeah, 38 is just stupid. When D2 is 38, I’ll be 71. If she were in school at that time, is it reasonable to expect a senile old woman (which I’ll probably be by then 
!) to still be financially responsible for a close to middle age adult? My husband and were married adults when we went to grad school. We borrowed and paid our own way, I would have never expected our parents to support us, though in all honesty, they didn’t have the means to do it. When determining how to give institutional funds, a private institution can require whatever it wants, I get that. It just bothers me a little that some schools expect families to be on the hook for financially supporting their adult children, when legally I am under no obligation to. They certainly wouldn’t think that parents should have access to the 38 year old’s (or 22 year old for that matter) grades, attendance, health records, etc. because…they are adults and that is illegal.
Good luck to you all as you/ your children make your decisions, and maneuver through the financial aid process, find a place to live, etc. It is an exciting time!
@dheldreth Nailed it. I could not access my D’s Grades when she turned 18, yet even the private high school she went to expect me to be responsible for her Tuition. I sincerely believe colleges should stop asking for any parental financial information when the kids turn 21. If the parents want to help their kids out leave it to them to do it but don’t ask me for my financials.
I took everyone’s advice and filled out need access form this weekend. Took 3 hours but it’s done.
One thing that annoys me is that the schools want parents financial info but we’re not allowed to call financial aid office to ask questions because they’re adults. But I’m the one filling out all the paperwork. The deadline for one of his schools is this Friday. All the schools want students income to be imported from IRS on FAFSA, but we just did our taxes so info not there yet. Not sure how to deal with it. And son is in Carribean on spring break.
On a lighter note, he went to second look to one of our state schools and absolutely loved it. He’s really starting to think about finances and if it’s worth spending a lot more money on a private school. Our state schools are not ranked that high but the clinical exposure is great starting day 1 and match for the specialty that he curently wants is great. He’s going to try to visit the other 5 but I really hope he stays local. And the bonus is its only half hour from home.
Do not let yours son/yourself be influenced by Match lists. So many factors go into the matching that reading Match lists is like reading tea leaves. Entertaining maybe, but conveying no useful information.
My daughter spent last weekend in the city of her Med School… yep, she’s decided. I found out when she posted a picture on FB of herself in the T-shirt in front of the main arch, LOL! One of her closest friends from high school is a year 1, and has been trying to sway her. Turns out a weekend without interviews, or stress was just what she needed! She’s super excited and officially has matriculated : ). She had a great time in the city, and the house she stayed in was a 5 minute walk from campus. Super excited!!!
Congratulations! Isn’t it great when it all finally settles?
Wishing your D much future success!
Thanks, @WayOutWestMom ! Can I just say I’m sooooooo happy I have a year off before D2 goes through this? Other than the MCAT this summer, nothing big on her plate. Time to focus on #3 getting into the college of her dreams now!
Best wishes to your DD @moonpie. My DD is going to drag this out until April 30.
Congrats to you and your DD Moonpie.,