No matter which medical school you choose to go to, it is a costly investment for your future. The average medical school graduate owes roughly $240,000, and the debt average seems to rise every year as the cost of medical school increases. However, scholarships are a great way to cut down on the expenses. There are thousands of scholarships available, but we at Savvy Pre-Med have compiled a list of scholarships we found promising for prospective and current medical school students.
Many fight hard to get into medical school, but what comes after the acceptance letter (and the immense joy it brings) is the dread of financing the coming four years. Tuition, living expenses, books, USMLE fees - the list goes on! Finding a way to pay off the huge amount of tuition and fees while also maintaining your grades, passing USMLEs, balancing your social life, and saving lives can be quite overwhelming. And to top it off - there is a lack of resources to help you make the right financial decision. But that's where we come in!
Most advice steers you towards loans. Loans. Loans. More loans. Would you like a side of loans with your medical education? Or are you willing to donate a kidney? It's much harder to find resources that solely focus on loan-free ways of paying for medical school. While we recognize that graduating from a medical school with zero debt cannot be the case for everyone, we believe that all students have the potential to graduate with a manageable amount of debt. Here's a list of ways to help you pay for medical school without going broke!
How will you pay off the overwhelming amount of tuition and fees in medical school? Should you take out loans? Which ones? What about scholarships? Can you negotiate with medical schools? What are the do’s and don’ts of medical school financial aid? You’re not alone in this difficult journey. Here are 8 testimonies from a diverse set of students to help you avoid mistakes and give you a baseline of advice.
When we Googled “how to talk to parents,” the results were all over the map. Some were quite serious: depression, dating, moving out, etc. What we didn’t find was how to talk to your parents about applying to medical school. In our experience, this task can range from laidback to very stressful, depending on the pre-med, family, and numerous factors like income or culture. Regardless of where you fall on that spectrum, we have some helpful tips to prepare you for this pivotal conversation in your pre-med journey.
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In part 1 of our series, we examined the cost of applying to 25 med schools. In part 2, we consider the hidden expenses of applying to medical school.
It's expensive to apply to med school. While it's nice to have a wealthy benefactor willing to foot the bill, most of us have to pay from our own finances.
Pretend you’re the dean of a brand new medical school. You’ve got a lot to build: a campus, a faculty, and a team to help you run the school. You’ve got to get accredited, raise money from donors, and recruit people to join you on this mission.
“How much would it cost for you to write my personal statement for me?” A medical school candidate asked me this question during a particularly stressful moment in the application process.
Imagine winning $250,000. No, you didn’t go to Vegas, and you didn’t even buy a lottery ticket. You show up to your white coat ceremony on your first day of medical school, where the dean announces that “you get free med school, and you get free med school, and you get free med school. Everybody gets free med school!” It’s like Oprah on steroids.