Financial Aid for rich kids?

Question

Okay I am not trying to sound like a brat but my parents are very well off and therefore I am not considered for financial aid. But my parents will not help me out! They paid for my undergrad but now that I'm in med school they say I am on my own they want me to have to work for my accomplishments and not get everything handed to me on a silver platter. Fine, but the school won't give me any money because of my parents incomes. Any suggestions?

Both my parents are doctors as well

Answer 1

There are some options out there for graduate students with financial aid.

First, apply with FAFSA.ed.gov because graduate students are their own classification with income than it is for an undergraduate student.

Second, apply for graduate assistant positions with the college. It comes with a stipend along with help with the tuition.

Third, check with the college's financial aid office and its website since they often list private scholarships offered by companies and organizations. Also, some schools or departments also list major or college specific financial aid.

Finally, there are free membership scholarship search websites. Most are updated on a regular basis. However, it is very competitive for scholarships on the graduate school level.

Good luck!

http://www.chelastudentloans.org/Scholarships/Resources.asp
http://www.usnews.com/usnews/edu/college/cohome.htm
http://www.fafsa.ed.gov/
http://www.fastweb.com/
http://www.finaid.org/
http://www.college-scholarships.com/
http://scholarships.fatomei.com/
http://www.scholarships.com/
http://www.back2college.com/library/scholarships.htm
http://abacus.bates.edu/career/grad/grad.html
http://career.berkeley.edu/Grad/GradFinAid.stm

Answer 2

There a couple a of steps before applying for any type of credit/loan.

1- Check you credit history at both credit bureaus to see how good or bad your credit is and this is usually free (just cause one may say it's good the other might be bad). It depends on what company you've been dealing with and will be dealing with. It's good to cover tracks!!!
I assume you are either american or canadian (luckily, its the same thing).
www.equifax.com = USA
www.equifax.ca = CAN
AND
www.creditfederal.com =USA
Not in Canada

www.transunion.com = USA
www.transunion.ca = CAN
Most company I have notice deal with equifax.

Anywho, unfortunately, you may to invest some money to get a FICSO score. This score is usually what most creditors look at to see if you are a potential client of theirs and will use this to judge (in some cases) how much interest you'll have to pay. They will also look to see if you've been declined credit in the past and what your income is as well as how long you've been there to see how stable you are.
After getting all this the reports give you a layout and even tell you how to good or bad you credit is.
If it's good to great! You're free to apply wherever.

A personal bank loan.
A gouvernment loan that supports students.
Sometimes Visa and Mastercard supports students loans.
If you are located in the USA find out how many banks there are and try applying at each.
If in Canada there are 8 to 10 major banks to apply at.

Another find out from your parents that (especially in you have good to bad credit) if they can at least co-sign a for a loan. If you are unable to or having trouble getting a loan.
You best bet is to do a lot of research and find out which places give the best rates. Which in the end will save spending extra cash. Perhas by doing you research in interest rates your paretns may co-sign by showing some type of respnsiblity and Indenpence.

GOOD LUCK! And best wishes!

Answer 3

If you are over 25 or are married then your parents income is no longer considered. If neither is an option anytime soon then maybe you should consider getting a student loan. besides, most schools will not provide financial aid for graduate schools. I have a friend who was unable to get financial aid for grad school (UNC Charlotte) and his single mother makes under $10,000 a year (he had been saving for years and had financial aid/worked throughout his undergraduate

Answer 4

I too fell into the same category as EMT2006. My mother made just enough for me to not qualify for any financial aid, but she didn't make enough to help with college either due to the fact that she was a single mother. And I certainly wasn't a free loader at all. I worked throughout my entire college years full-time and essentially paid for most of it on my own. I think that's the reason most people, whether they're in the average-to-rich area of income, get mad at the students who have their entire college paid for in grants and so on is because those students essentially didn't do "anything" to deserve those grants. They didn't perform some special scholastic activities, like recipients of some scholarships do. Nor did they get really good grades, like recipients of really special scholarships do. All they did was fill in an application and because their parents happened to be dirt poor, which more than likely illustrated a lifestyle of poor decision making on their part, the students were rewarded with a free college. When you think about things in that manner it is almost like an EFC affirmative action that's happening towards lower income families. I knew somebody who came from such a family, whose mother and father didn't work, they lived off of section 8, and received contributions from welfare, social security, and food stamps. Her EFC number came to less than 100, and because of it her entire college is now currently getting paid for. In other words she was "rewarded" because of her family's poor lifestyle and non-contribution to society. My mother decided to become a productive member of society by becoming a nurse and earning a good salary. Because of that I was "punished" by being given such a high EFC #. Hope this helps as far as the reasoning for your question.

Answer 5

It looks like you are stuck with private loans or merit scholarships that do not count need. Your parents should help you. Tell them the reason you arent getting aid is because they make too much money. Maybe the school will offer you a parent loan. Good luck.

Answer 6

I think your parents are absolutely right. You should be kssing their feet for paying for undergrad. Parents are not obligated to pay for their kids to go to college. Plenty of us have to work and pay our own way. And, it sounds like you didn't really show appreciation for their paying for undergrad or they wouldn't feel the way they do now. If you are applying yourself, you should be able to get scholarships. If you cannot work & go to school, you'll have to take some time off until you are over 23 & do not have to claim your parent's income. Just because your parents have earned money and are well off does not mean YOU are "rich". Welcome to the real world with the rest of us.

Answer 7

Did your Parents go to University and, if so, where did they get the money for the tuition? How did they become wealthy? There must be something in their lives that is making them act this way.
Can you get an Advocate to speak for you - like an Uncle or Aunt who is well respected by your Parents? It is very sad that
they are being so hard on you.

Answer 8

Apply for 1,000 scholarships.
Go to www.nih.gov and look for student loan forgiveness programs.
•Look for Clinical Trials to earn money
Tutors make excellent money especially Math & Science.

Answer 9

GET A JOB! EVERYONE ELSE HAS TO WORK, SO SHOULD YOU. AND RICH PEOPLE SHOULD NOT GET FINANCIAL AID. IT NEEDS TO BE THERE FOR THE REST OF US WHO ACTUALLY CAN'T AFFORD TO GO TO SCHOOL.

Answer 10

get a partime job
fill taxes
show them to school
say you live by yourself