Aid/Scholarships for US Student to study in UK?

Paying for College
1

<p>Hi,</p>

<p>I will be starting at Imperial College London in their 4 year Graduate Entry Medicine Program. The international tuition rates are very hefty. Thus, I am looking for absolutely anything and everything that could help me lower my financial burden. </p>

<p>1) I am currently in the process of filling out my FAFSA so I can get Federal loans. Is there a way I can get Federal Grants for my medical education?</p>

<p>2) I'm looking at various scholarships offered by British Council, such as Marshall Scholarship. But all those are so competitive. Are there any other scholarships for US students to study abroad in the UK?</p>

<p>Things I'm currently looking at:
Home[/url</a>]
[url=<a href="http://www.fulbright.co.uk/%5DUS-UK">http://www.fulbright.co.uk/]US-UK</a> Fulbright Commission - Scholarship Awards and Advice on US-UK Exchange</p>

<p>Please advise. Thanks.</p>

2

<p>Is there a way I can get Federal Grants for my medical education?</p>

<p>I have never heard of federal grants for med school.</p>

<p>Edited because I see that you already have a bachelors. Once you have a bachelors, there are no fed grants for you.</p>

<p>All you might get are loans.</p>

<p>How expensive is your school…including room, board, books and personal expenses? </p>

<p>When do you start school? Soon? If so, why are you just figuring out the money matters now??? How much is your family paying?</p>

3

<p>1) There are no grants at all for graduate medical education. (Believe me, I have one in med school and another waiting in the wings to apply. If there were any federal grants I’d know about them…)</p>

<p>2) You’re too late to apply for a Fulbright for this fall. The Fulbright application process takes 8-10 months. You need to apply before January 1. I’m also pretty sure that medical programs aren’t included since the Fulbright Student Scholarship is for Masters and PhD degrees only. Also there are only 9 US to UK Post Graduate Scholarships awarded annually and the scholarships are for one year only.</p>

<p>You’re also too late to apply for the Marshall Scholarship for this fall. Winners were announced in April and applications were due last fall. </p>

<p>Here’s what D2’s college Fellowship Office says about the Marshall Scholarship:</p>

<p>

</p>

<p>Face it, there’s just no free money to do what you’re planning.</p>

4

<p>As a graduate student you may receive loans up the the maximum offered.</p>

<p>There are few grants for US>UK other than those uber-competitive ones.</p>

<p>One option would be to apply to work in the dorms and see if you can get free housing & meal plan, but that may be tough your first year.</p>

<p>From what I have seen, a US state school may have a COA of $45k and privates more. What is your GBP COA? What does it translate to in US$?</p>

<p>I know people who have gone to the UK and plan to return to North America to practice, but usually they are skipping undergrad so even if it is pricier, it is overall cheaper.</p>

5

<p>The FEDAID office told me that the amount of aid really depends on what the school decides to do. Is it not possible that the school may decide that I require aid/grants? Because FEDAID told me there’s no clause that says medical school students can’t receive grants it’s really up to the school? Would writing a letter to the school help?</p>

<p>I have some personal savings. Should I move it all over to my parents account? Or it wouldn’t matter since it’s reported on my tax documents?</p>

<p>If my parents are retired, could I claim them as my dependents?</p>

6

<p>valeous–you are confusing 2 different things: US FEDERAL aid and college based aid.</p>

<p>What FedAid told you is correct. Any college or university is free to give THEIR OWN FUNDS to any student who the college determines to have need. But that aid comes from the college’s own private funding and NOT from the US government aid programs.</p>

<p>The only US federal aid programs for college education are low-income grant programs and Stafford loans. You can only qualify for the US federal loan program. The low-income grant aid programs are for those seeking a first degree—and you already have your bachelor’s.</p>

<p>If Imperial College wants to fund you from their college-based aid program, they are free to do so. But that is the College’s choice and has nothing to do with FAFSA.</p>

<p>If you want grant aid, you need to ask Imperial College for it. (And I have no idea if they award grant aid or what financial information they require to put you in consideration for it. You need to ask them. British universities do NOT use FAFSA.)</p>

<p>P.S. You can’t claim your parents as dependents unless you can demonstrate that YOU provide more than 50% of their support (housing, food, clothing, insurance, transportation and medical care costs etc). To claim them without doing so is fraud.</p>

7

<p>What about my personal savings? Should I keep them in my accounts or move them to my parents’? Though it shouldn’t matter since I won’t be getting any aid/grants regardless. Would it make a difference though for the loans I qualify for?</p>

<p>Imperial also told me that they’d be the ones deciding how much loans I qualify for and not FED AID.</p>

8

<p>Imperial College determines what your COA is and will use your FAFSA EFC to determine your eligibility for Staffords. You can only get Staffords if you are determined by the school to have need.</p>

<p>The formula is COA - FAFSA EFC = need</p>

<p>As an independent student (automatic since you’ve completed your bachelor’s), you have a small protected asset allowance. (Figure around $5000, depending on your age.) The protected amount is subtracted from your overall available asset amount. But the rest of your savings will be subject to FAFSA’s expectation that it’s available to spend on your education. </p>

<p>Each year you will be expected to contribute about 25-30% of your unprotected savings toward your EFC. Whether that will make a substantial difference in the amount of loans you’re eligible for depends on how much money you have saved.</p>

<p>So:</p>

<p>COA - EFC = need</p>

<p>If your need is ≥ $20,500 then you will be eligible to get the max grad Stafford loan allowed. ($20,500/year)</p>

<p>If your need is < $20,5000, then you will get up to your calculated need in loans</p>

<p>If you move your savings into your parent’s name, then it won’t be counted in determining your EFC and you will be eligible for up to whichever is lower-- $20,500 or Imperial College’s COA–in loans</p>

<p>Are your savings in your name only or are they in a joint account with your parents?</p>

<p>If your savings are in your name only and you transfer the money to your parents, depending on the amount you may have to file a Gift Tax form.</p>

<p><a href=“http://www.irs.gov/pub/irs-pdf/p950.pdf[/url]”>http://www.irs.gov/pub/irs-pdf/p950.pdf&lt;/a&gt;&lt;/p&gt;

<p>One thing to consider, if you transfer your savings to your parents and your “need” at Imperial College is more than $20,500, you no longer have that money available to spend on the costs beyond the scope of your loans.</p>

<p>Since Imperial’s FoM’s tuition alone is £26,500 (or about $43,000) for overseas students, unless you have substantial amounts in your savings, I doubt that it’s going to make much difference in your loan eligibility.</p>

9

<p>Thanks so much for your reply. This is exactly what I was looking for. More clarity/advice on FAFSA.</p>

10

<p>Personally I would not waste your time applying for a Fulbright Scholarship to the UK. Historically only 4% of applicants receive the award. There are much better countries to apply to the Fulbright for. </p>

<p>Check out [FulbrightApplication.com</a> Offers Advice & Tips for a Successful Fulbright Application & Essay](<a href=“http://www.fulbrightapplication.com%5DFulbrightApplication.com”>http://www.fulbrightapplication.com)</p>