How to Get Medical Student Loans

Not only is medical school difficult to get into, it is also very expensive. Unlike undergraduate programs, there are usually a limited number of scholarships and grants available for students entering medical school. Most individuals usually need to take out student loans to pay for all or a portion of the tuition. Many private lenders and institutions offer student loans for most students; some students can also qualify for federal loans at a lower interest rate.

Instructions

    • 1

      Talk to the financial aid officer at your medical school. The financial aid department can help you find and apply for school loans to help you pay for medical school.

    • 2

      Determine the amount of loans you will need. Aside from tuition, also consider the costs of books and other materials. Many people cannot work while in medical school, so you may also need to borrow enough money to pay living expenses while in school.

    • 3

      Apply for a federal loan by completing the Free Application for Federal Student Aid (FAFSA). Go to the FAFSA website, fafsa.ed.gov, and complete an application.

    • 4

      Research other student loan options. Even if approved, the federal loans may not be enough to cover your expenses at medical school. Private lenders such as Sallie Mae, Wells-Fargo and Bank of America offer student loans. Review interest rates and repayment terms before applying.

    • 5

      Complete the application for any private loans online or at your local bank. You may need to list references on the application. Be sure to talk to your references before using their names.

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