Financing Medical School
Preparing for the cost of medical school
As you begin to prepare for medical school, one of the most important steps to take is to prepare yourself for the costs. Understanding the financial undertaking that you are committing to is critical to your long-term fiscal well-being.
Follow this six step Financial Aid Checklist to begin the process of funding your education with federal financial aid.
Cost of Attendance
Staying on budget
Finding a roommate, applying for Ohio residency and establishing a budget can help lower your overall expenses. Keep in mind that financial aid budgets for medical students are based on a low to moderate cost of living.
We've created a medical student budget to help manage your personal finances.
Managing the Costs
Military Health Professions Scholarship
If you are in the military or are considering joining, know about these programs to help you on your path to becoming a physician.
National Health Service Corp (NHSC)
The scholarship pays tuition, fees, other educational costs, and provides a living stipend in return for a commitment to work at least two years at an NHSC-approved site in a medically underserved community.
Unsubsidized Stafford Loan
The Unsubsidized Stafford Loan is available to all students regardless of income or credit. This loan is not subsidized by the federal government. You are responsible for all interest that accrues while you are in school, in deferment or during your grace period. You may choose to make interest payments while in school or defer (and accumulate) the interest until repayment.
Graduate PLUS Loans
The Grad PLUS loan is available to medical students who have already borrowed the maximum amount of Stafford Loans and still need additional funding.
Primary Care Loans
The Primary Care Loan (PCL) program provides long-term, low-interest-rate loans to full-time, financially needy students to pursue a degree in allopathic or osteopathic medicine.
The Emergency Loan program is available to assist all enrolled Heritage College students with short-term funding for unexpected financial problems.