Financing medical school
What can I do before I apply? (read the entire page now)
- From your freshman year on, you should monitor and control your use of credit.
- Monitor student loans carefully.
- Be aware of the effect of consolidation on medical school loans
- Do whatever you can to increase your credit score.
- Unwise decisions now can cost you money later as increased fees, etc.
How much does medical school cost and can I afford it? There’s no question that medical school is an expensive proposition. Latest guesses on tuition and fees (not including living expenses):
- State medical school $20,000 or more for a resident, double for a non-resident
- Private schools rates equal to out of state publics, some difference for in-state
The time to start thinking about financing is before you are accepted. You should have a firm understanding of the costs, loans and scholarship opportunities, and the various arrangements (such as through the military, service payback or lab work options) available to help reduce or eliminate debt.
Some hospitals will pay your debt upon hiring. You can meet with a school loan officer after you are accepted to work out specifics, but the burden of education is yours!
The Association of American Medical Colleges sponsors a comprehensive loan program, MEDLOANS®, that acts as a clearinghouse and access to loan programs under a single umbrella.
Potentially useful sites (double check all info)