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 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
Scholarship opportunities
Learn More
Institutional Scholarships Form
The deadline has passed to be considered for institutional scholarships in the 2021-22 academic year.
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 Corps
The scholarship pays tuition, fees and 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.
Student Loans
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 program provides long-term, low-interest loans to full-time students with financial needs to pursue a degree in allopathic or osteopathic medicine.
Loans for Disadvantaged Students
The Loans for Disadvantaged Students program provides long-term, low-interest loans to full-time students who need financial assistance to pursue a degree in medicine.
Learn More
Emergency Loan
The Emergency Loan program is available to assist all enrolled Heritage College students with short-term funding for unexpected financial problems.
Private Loans
While most medical students use the Stafford and Grad PLUS loan programs, you also have the option to take out private loans. Private loans are used to help bridge the gap between actual costs and financial aid programs. Private loans are funded by private, third-party lenders. Below we have provided a list of several loan companies. These are private loans specific to medical students. Please be sure to check rate and term of the loans, as they may change from month to month.