Financing

The high cost of attending medical, dental, or veterinary school can be intimidating; with graduate debt averaging over $200,000. However, if you educate yourself about financing options and available resources, you can prepare for the financial commitment that will be required. In addition to the substantial costs of tuition and fees for medical school, there are several costs associated with the application process itself. These include:

  • MCAT/DAT/GRE preparatory courses and study guides
  • Registration for standardized tests
  • Primary and secondary application fees, and travel and lodging costs for interviews (see .)

Tuition costs and fees vary greatly depending primarily on whether the school is public or private, and whether you are an in-state or out-of-state resident. Students generally supplement personal or family resources with federally subsidized or private loans to cover costs. Financial aid offices generally provide all the information you will need on available sources of loans. Information such as is very helpful.

ADDITIONAL SOURCES OF AID: SERVICE REPAYMENT PROGRAMS

Some programs fund your education upfront, and others offer loan forgiveness based on your service. Application to the following programs should be considered carefully as enrollment involves significant commitment and can control choice of geographic location or practice area.

  • : The Army, Navy, or Air Force will cover tuition, living expenses, and other educational costs associated with medical and dental school; the student repays this scholarship with service during school and after graduation. Apply no later than the spring before enrollment. Search for 鈥淗PSP鈥� on the Army, Navy, or Air Force website.
  • : Program designed for those committed to providing primary health care in underserved communities (medical and dental). They cover most school-based costs (tuition, fees, living stipend, books). Upon completion of training, the graduate practices in an underserved community for 2-4 years.
  • : Encourages physicians from disadvantaged backgrounds to serve on health professions school faculty.
  • : Provides loan repayment in exchange for commitment to Indian health program sites.
  • : The National Institutes of Health NIH Loan Repayment Programs are a set of programs designed to recruit and retain highly qualified health professionals into biomedical research careers. The LRPs repay up to $50,000 annually of a researcher’s qualified educational debt in return for a commitment to engage in NIH mission-relevant research.
  • : Many loan forgiveness programs are offered at the state level, and are available depending on available funds.

Financial Resources and Information Links


















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Cost of Applying to Medical School


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(compiled by Georgetown University School of Medicine)









horatioalger

















 (Med School Pulse)
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 (Maine Educational Loan Authority)
 (Maine Educational Loan Authority)






























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