Step 1: Complete the FAFSA
Completing the Free Application for Federal Student Aid (FAFSA) is the first step in applying for financial aid. Check the school’s requirements for FAFSA filing dates.
Parental information may be required by medical schools for students who wish to be considered for institutional financial aid (aid given by the medical school) even though an applicant is considered independent for purposes of federal loans. Check with the medical school’s financial aid office to verify their requirements.
To ensure the results of your FAFSA are sent to the schools you are applying to, be sure to list the medical school’s federal school code on the FAFSA. If you do not know the school code, you can search for it on the Federal Student Aid website.
Step 2: Investigate Sources of Aid
Contact the medical school’s financial aid office to determine available sources of financial aid. Be proactive; explore additional resources for scholarships and grants. You can search for scholarships and grants in several places. Here are some FIRST resources to consider:
- Consumer and Federal Financial Aid Resources (see the Grants, Fellowships and Scholarships tab)
- Loan Repayment/Forgiveness/Scholarship and Other Programs Database
- Indian Health Service (IHS) - Loan Repayment and Scholarship Programs
- Repayment Assistance Through Forgiveness, Scholarships, or Service
- NHSC: Scholarship and Loan Repayment Programs
If you need loans to cover additional costs, consider borrowing federal student loans. The Direct Unsubsidized Loan and the Direct PLUS Loan are federal loans. These are both unsubsidized loans, meaning the borrower is responsible for the interest that accrues on the loans; however, they have some of the best terms and conditions. Note: Applying for a loan requires completing a Master Promissory Note (MPN). This is separate from the FAFSA.
Step 3: Apply Early
Pay attention to deadlines – they are crucial! Obtain, read, complete, and submit applications on time, preferably early. Occasionally, unexpected situations may arise that could delay your application. If you wait until the last minute to apply, you may not qualify simply because of a missed deadline.
Step 4: Receive Your Aid Offer
Once the school’s financial aid office receives and processes your FAFSA results, you will then receive an aid offer indicating the types and amounts of financial aid you are eligible to receive. Follow the directions for accepting or declining the aid. If you accept the aid offered, and it includes student loans, pay attention to the information about when your loan funds will be available to you, and plan accordingly.
For more information, review the FIRST fact sheet, What's an Aid Offer?
Still Have Questions?
If you are uncertain about the financial aid application process, or if you have questions related to the financial aid offered, contact the school’s financial aid office to discuss your questions. The financial aid office staff and the school’s website are always great sources of information.
If you aren’t sure what questions to ask, review FIRST’s article, Top 10 Questions Premeds Should Ask Medical School Financial Aid Officers. This resource can provide you with additional guidance and possible topics for discussion with a school’s financial aid officer.
- You must re-apply each year for financial aid. Check with your medical school’s financial aid office about required forms and deadlines.
- To maintain eligibility for federal financial aid, you must maintain Satisfactory Academic Progress (SAP). Check the school’s requirements for SAP.
- Continue to search for scholarship and grants each year of medical school.