We are exploring options to maximize our savings/minimize our payout from sending our children to college.
My oldest may be looking towards a MS degree, and he could choose to enter a co-terminal program which essentially would change his four year BS program into a five year BS/MS program. The college states that he would have the same merit aid and loans as for undergrad (which I understand is somewhat unusual).
My question is, if he did that option and therefore we have two children in college for two years instead of for one year, does the fifth year of the BS/MS count only as grad school, and then it would not be the same as two undergraduates? Or because it is a BS/MS, would he count as undergraduate for all five years? Or if the college says he is still an undergrad in the fifth year for their FA purposes, is that all the FAFSA cares about?
If it matters, he would be younger than 24 when he graduated the BS/MS program with both degrees.
For financial aid purposes, most of those blended programs consider their students to be undergrads for all five years, so you can consider your oldest as a student in college on all FAFSAs.
When is the bachelor’s awarded? Is the beachelor’s awarded at some point before the 5 years is up? Are MS and BS conferred at the same time? It seems logical to me that until my kid has a bachelor’s, he is an undergrad, and ai would probably list him as such. Schools can always change it when they verify if I am wrong.
Two of my D’s were in BS/MS programs (at 2 different schools). In both cases, their fourth year was when they began the graduate studies and finished their undergrad degrees (credits from fourth year essentially were first year grad classes that were counted as electives for undergrad degrees). In both instances, the BS was awarded at the end of the fourth year thus for the fourth year they were considered undergrads for FAFSA purposes. In both cases, the fifth year they were considered as grad students for FAFSA; both schools sent letters with specific instructions as to when FAFSA status should change to that of a graduate student. I’ve never heard of an undergrad/grad combined program in which the awarding of the undergrad degree is withheld until the grad degree is awarded.
This same procedure was applied when my third D was going through a 3+3 undergrad/Doctor of Physical Therapy program: fourth year she was taking first year PT classes which were also credited to her undergrad degree as electives. She was an undergrad for FAFSA that year and was awarded her BS at the end of her fourth year. For her remaining two graduate years, she was a graduate student for FAFSA.
A student under age 24 who has earned a bachelor’s degree and is entering grad school will file FAFSA as an independent graduate student; age is irrelevant once the undergrad degree is earned. In our experience, it is up to each school as to whether they take into consideration a sibling who is in grad school. One D’s private school did consider it; the other 2 schools (one private and one public) would not.
From the FSA Handbook: “Students enrolled in dual degree programs that confer a bachelor’s degree and either a graduate or first professional degree are undergraduates for at least the first three years of the program. The school determines at what point after three years the student ceases to be an undergraduate.”
So it comes down to how the school determines the specifics of the program. If you were told they would receive undergraduate aid for the fifth year, they likely should be considered as a fifth year undergraduate and elect this option when completing the FAFSA.
Thank you all for your responses! I am hoping that since his school does say they are generous with their aid for students who decide early to enter the MS program a la BS/MS, that will be the determining factor!
From my daughter’s school:
“…When you complete the required credits to obtain your BS degree, your academic department will change your academic record to reflect your continued enrollment as a graduate student.”
Well, as a side note, my D who was in the 3+3 BS/DPT program did have have her undergrad full-tuition scholarship extended throughout her graduate years, but she was still classified as a grad student for FAFSA purposes for her final two years of school.
Rhandco. There is no one correct answer to your question. If your older student is a masters student, it is up,to,the undergrad school of your yohnger student to decide if he is included in the count…or not.
My kid’s undergrad school did count her grad schoo, brother as a student in college. But another school she applied to said NO.
We inquired before our younger kid made her matriculation decision…so,we would know.
with their aid for students who decide early to enter the MS program a la BS/MS, that will be the determining factor!