Financing Your Education

Students enrolling in health professional programs should be prepared for a substantial financial commitment. Loans are generally the primary source of funding, with graduate debt averaging over $100,000. Check out these resources to learn more about possible sources of funding:

Smart Student Guide to Financial Aid	Information about loans, scholarships, military aid programs, links to online aid applications, FAQs, a loan repayment calculator, and a financial aid contribution estimator.
Department of Education's Student Guide	Information on federal student aid resources, the application process, eligibility requirements, and standard award amounts.
Free Application for Federal Student Aid	Application used to determine eligibility for government funded financial aid.

Things to Consider

Budget

There are many costs associated with health professional programs in addition to tuition and fees. You will also need to pay for your health insurance, rent, transportation, utilities, books, food, etc. Some additional costs, such as child care, medical, and dental costs, are not covered by financial aid. Make sure to set aside savings or other resources available for emergencies.

Citizenship

Limited resources are available to non-U.S. citizens. Most federal sources of aid (and a significant portion of school-funded aid) are available only to U.S. citizens, nationals, permanent residents, and eligible non-citizens. Learn more about policies and resources for international students as health professional program applicants.

Sources of Funding

Loans
Federal	Stafford/Ford Loan Program: Students can borrow a maximum annual amount through the U.S. Department of Education. These monies are unsubsidized, thus interest begins accruing as soon as the loan is taken out. Primary Care Loan: The U.S. Department of Health and Human Services offers this need-based loan to medical students interested in primary care. Students who borrow through this program are required to complete a residency and practice in primary care until the loan is completely repaid. Participation in and eligibility requirements for this loan program vary from school to school. Perkins Loan: A low-interest, federal subsidized loan, awarded by some schools to students who demonstrate financial need. Generally these funds are limited and are not offered to most students.
Institutional	Some schools have established endowed loan programs and offer loans to their students, often with terms more favorable than federal or private loans.
Private	These loans have higher interest rates and fees and less favorable repayment terms. You can take out private loans to cover costs associated with residency and relocation. Some private loan programs include: MEDLOANS Alternative Loan Program (Sallie Mae) CitiAssist (Citibank) MedExcel (Nellie Mae) Med Access (Access Group) Educaid
Scholarships
Federal	Scholarships for Disadvantaged Students (SDS) are funded by the federal government and awarded by medical schools to students demonstrating significant financial need. Funds are generally very limited and eligibility for awards is based on school-established criteria.
Institutional	Many schools award scholarships to students based on criteria such as merit or financial need. A large percentage of schools require you to submit parental financial information on your application in order to be considered for need-based scholarships.
External Scholarships	Utilize free scholarship search engines that are available online to find other opportunities offered by private groups. Be wary of services that cost money or guarantee scholarship awards. Some credible and free search engines are: FastWeb Scholarship Search: Create a personal profile and search for scholarships that match your background. CollegeNET MACH 25: Search for scholarships using keywords, with no registration required.
Service Repayment Programs
National Health Service Corps	The Public Health Service offers a competitive scholarship program designed for students committed to providing primary health care in underserved communities.
Armed Forces Health Professions Scholarship Programs	The Army, Navy, and Air Force will cover the tuition, living expenses, and other educational costs associated with medical school; the student repays this scholarship with service during school and after graduation.

Resources by Health Profession

Dentistry	ADEA AADSAS Fee Assistance Program ADEA GoDental Money Matters
Medicine	AAMC Fee Assistance Program AAMC FIRST: Financial Information, Resources, Services, & Tools AACOM Financial Aid and Scholarships UVA Paige Pre-Medical Fund Established to defray the high cost of applying to medical school
Occupational Therapy	OTCAS Fee Waivers AOTA Financial Aid
Optometry	AOA Guide to Optometric Loans, Grants, & Scholarships
Pharmacy	PharmCAS Fee Waivers AACP Financial Aid & Scholarships
Physical Therapy	PTCAS Fee Waivers APTA Scholarships, Awards, & Grants
Physician Assistant	CASPA Fee Assistance Program PAEA PA Focus: Paying for PA School
Veterinary Medicine	VMCAS Fee Reimbursement Program AAVMC Funding Education AVMA Getting Financial Assistance