4 Places To Look For Financial Aid For Medical School

Medical school is expensive. Even two year certification programs can cost a pretty penny. So where do high school students and returning adult students turn when money is needed to fund college education? Why programs geared towards giving college students financial aid, of course. Below are four places you can find financial aid for medical school.

The Free Application for Federal Student Aid (FAFSA) [fafsaonline.com] website is the first place every college-bound student should visit.

According to the FAFSA website, “Submitting this vital financial aid application form determines your eligibility for federal financial aid as well as scholarships, grants, and other aid opportunities.”

Basically, you fill out the online form and the program does its calculations. A staff member looks over the form and calculations, then gets back to you with several funding options. If your income is low enough and your financial need great enough, you’ll receive offers for pell grants and scholarships as well as student loans. If your income is too high, you’ll only be shown offers for student loans. To learn more about how to properly fill out the FAFSA online form as well as lower your income to meet grant and scholarship requirements, visit the Free FAFSA Secrets Guide. (fafsaonline.com/s1-reduce-income.php)

The second place to locate money for medical school is through scholarship programs. Scholarships usually do not have to be paid back and are based on merit, not financial need. While students have a better chance of receiving funding through local scholarships, state and nationwide scholarships also offer chances to pay for college education. When looking for scholarships, check out the Student Scholarship Search website (studentscholarshipsearch.com).

The third place to locate money for medical school is through student loans. Student loans work just like every other loan, you borrow a specific amount of money, agree to pay a set interest rate and late fee, and make payments to pay back the money you borrowed. By requesting a “student loan” versus a traditional loan, students can often prolong making payments until 6 months to 1 year after they graduate from college. To learn more about student loans, visit the Financial Aid Officer (financialaidofficer.com).

The least likely place to look for money for medical school is through work-study programs, but they’re often a better option than student loans. According to the Student Guide (studentaid.ed.gov/students/publications/student_guide/2004_2005/english/types-fed-workstudy.htm), work-study programs “provides jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses.”