Learn about financial aid options for financing medical school and making it affordable.
Attending medical school is expensive and most medical students will need to borrow federal student loans to cover their medical school’s cost of attendance.
If you want to be a doctor or physician scientist – they are good career choices, both socially and financially. Although medical school may be expensive, there are options available for financing your education. The key to affording medical school is educating yourself about your choices.
Before you’re accepted to medical school, you’ll have some admissions-related costs to plan for, including the AMCAS® application service and the MCAT® exam.
Students who want to borrow less, or have some or all of their loans forgiven, may want to consider providing medical service for a particular organization.
Direct Loans are federal education loans with fixed interest rates and flexible repayment terms. Borrowers should consider maximizing Direct Loan options before borrowing other loans with higher interest rates and/or possibly more stringent terms and conditions.
As a nontraditional student, you may have additional choices and details to consider prior to starting medical school; however, there are resources to help you with these decisions along the way.
Direct PLUS Loans are loans for graduate students who have additional financial need beyond what the Direct Unsubsidized Loan covers. In most cases, borrowers are encouraged to use federal loans before turning to private loans
An aid offer is official notification from a school where you have been accepted. It outlines the financial aid you are eligible to receive at that medical school.
The AAMC's FIRST (Financial Information, Resources, Services, and Tools) program provides free resources to help you make wise financial decisions. Whether you’re thinking about how to afford medical school, applying for student loans, or determining your loan repayment options, you’ll find unbiased, reliable guidance from FIRST.