Paying for school may be one of the most daunting challenges facing you today, but should not deter you from achieving your goals. The tips below are meant to assist you with identifying your costs, help with budgeting, provide ideas on how to pay without going deeper into debt, and how to make the best decisions when it comes to borrowing.
- Reduce or eliminate personal debt before starting medical school
- Establish a household budget and stick to it
- Know what costs you will incur
- Identify community resources
- Review financial literacy resources
- To access federal student loans, complete the Free Application for Federal Student Aid (FAFSA)
- Experiment with the federal “loan repayment calculator” —you might find it helpful to put in some figures and see what monthly payments will look like after you graduate
- Review the Federal Student Aid website for comprehensive details about federal loans, such as repayment options, loan repayment calculators, loan forgiveness, etc.
Look for Scholarships and Other Ways to Pay
- Federal Student Aid YouTube Channel: View videos on student financial aid, including understanding the financial aid process, apply for aid, borrowing responsibly, repaying your federal student loan(s), and more.
- Federal Student Aid
- Health Resources and Services Administration
- College Preparation Checklist
- Funding Education Beyond High School
- The PNWU scholarships page
- Register your profile with Washington’s scholarship website, The WashBoard (they will send you scholarship match info)
- Investigate National Health Service Corps (NHSC) scholarships
- Investigate the Military Health Professions Scholarship Program (HPSP)
- Investigate the Indian Health Service (IHS) scholarship
Arizona, Montana, or Wyoming Residents
Consider applying for the WICHE PSEP program (Western Interstate Commission for Higher Education’s Professional Student Exchange Program). WICHE's student exchange programs offer a broad range of higher education options for some 36,000 students each year at undergraduate, graduate, and professional levels. Residents of Arizona, Montana, or Wyoming pursuing careers in osteopathic medicine can gain more affordable access to education, states avoid costly and unnecessary duplication of programs and facilities, and colleges and universities can devote their resources to improving the quality of their educational offerings.
Investigate Loan Repayment Assistance Programs in Return for Services That Are Available After You Graduate
Financial Aid Modules for Student Loan Borrowers
Take time to watch the AACOM/CSFAA Financial Aid Modules for Osteopathic Medical School Students and Graduates. This is a series of educational debt management modules. Each module contains specific information and resources to help osteopathic medical students borrow strategically as well as ensure they are prepared to responsibly repay their loans after they graduate and enter residency training. The module topics are:
- Borrowing Considerations and Repayment Options
- Student Loan and Financial Best Practices
- Choosing Between Federal and Private Repayment and Forgiveness Programs
- Modern Student Loan Repayment Case Studies for Today’s Osteopathic Medical School Graduates
- Managing Your Income and Finances Early in Your Career