Financing Health Professional School
The high cost of attending medical, dental, and veterinary school can be intimidating;with graduate debt averaging over $150,000. However, if you educate yourself about financing options and available resources, you can prepare for the financial commitment that will be required. For detailed information, see our handout Financing Health Professional School.
Association of American Medical Colleges (AAMC)
There is a great deal of information on financing your medical education available at the AAMC. FIRST for Medical Education is an AAMC resource that takes you quickly through seven topics: Understanding Identity Theft, Banking and Managing Accounts, Budgeting for Medical Students, Debit versus Credit Cards, Credit Reports and Credit Scores, Students and Credit Cards, and Dealing with Credit Card Debt. The AAMC site also includes primers on loan consolidation and managing debt, as well as a list of sources of possible financial support, including loan forgiveness programs.
National Health Service Corps (NHSC)
NHSC is an organization under the U.S. Department of Health and Human Services committed to improving the health of the nation's underserved. They have a loan repayment program available to medical students dedicated to primary care and willing to serve in rural and other underserved areas following their medical education.
Health Professions Scholarship Program (HPSP)
The Armed Forces HPSP is a medical and dental scholarship program. If you are a senior in college or lower classman in medical or dental school, the Armed Forces Health Professions Scholarship Program (AFHPSP) can pay 100% of your tuition for up to four years of school. This includes all required fees and expenses, books and equipment. Also included is a monthly stipend of over $1000. You must be between the ages of 21 and 40 (although age limits can be waived in certain cases), you must pass the military's physical fitness standards, and you must complete certain minimum levels of training and education. Your service obligation will be at least three years of active duty depending on the program under which you receive your commission.
The most current information we have received about this program, particularly from the Army, is always available at the HPA library. For more information about the HPSP with the Navy, call (1-800-322-4460).
The NIH Undergraduate Scholarship Program (UGSP)
UGSP offers competitive scholarships to exceptional students from disadvantaged backgrounds who are committed to pursuing biomedical, behavioral and social science research careers at the NIH. The UGSP offers up to $20,000 per year in financial aid to support undergraduate students' educational expenses. The NIH Extramural Loan Repayment Programs (LRP) offer educational loan repayment assistance to qualified health professionals conducting research at qualifying institutions. For more information, visit the UGSP or LRP websites or send an email inquiry to firstname.lastname@example.org.
The American Medical Student Association (AMSA)
AMSA has partnered with Nelnet to provide information in making smart financial decisions as a medical student, including material on managing debt, budgeting wisely, and determining when to make large purchases (house, car, etc).