Things You'll Need:
- Scholarship, grant, and loan applications
- Estimated med school expenses
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Step 1
Select from a range of finance options for med school, including loans, scholarships and grants. You can use any combination of these to pay for your tuition, books, and housing. A good place to look for these options is the American Medical Association website (see Resources below).
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Step 2
Track what your annual costs may be for med school to help you determine what type of finance assistance you should seek and how much you will need.
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Step 3
Consult with the med school, which may provide guidance to students on debt management and financial planning. This will help you get a better idea on how to finance med school appropriately.
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Step 4
Ask the med school for a copy of the Free Application for Federal Student Aid (FAFSA). You can also call 1-800-4FED-AID or visit their website (see Resources below). This is one of the best ways to get money for your education.
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Step 5
If you cannot get grants or scholarships, consider federal, state, private, and institutional loans. There are a number of programs available, but you will have to start repaying these as soon as you complete your residency.
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Step 6
Fill out and file as many applications for aid to finance med school as possible. You can never have too much financial assistance, especially since tuition tends to rise each year.
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Step 7
Continue to seek financial aid throughout your med school terms to supplement what you have received for any unexpected expenses or increases. Major financial institutions, such as Chase, have loan programs expressly for education (see Resources below).
