Ok, so you’ve made it to the medical school of your dreams. All those years spent preparing by studying and memorizing only to study and memorize some more. Ah, such is the life of a perpetual student. Still, medical school is ultimately incredibly rewarding once you graduate and enter the real world of doctors and patients. No more teddy bears and plastic stethoscopes for you. Now you’re ready for the major leagues, and using real medical school equipment. The only issue is paying for it all.
It’s no mystery that medical school will cost you an arm, a leg and possibly your first born child. Over the course of their medical school career, most students will need help in paying for medical school. The costs, which include tuition, various campus fees, books, equipment, transportation and general living expenses can amount to $42,200 a year for in-state students and $59,964 a year for in-state students at private schools. The steep price tag can’t be deterred but you can do something about it.
Although you can’t just tell the school that you refuse to pay, you can give the them a mental middle finger and/or you can put it off for a little bit. This can be done with financial aid and loans. Although these options vary from school to school, it is always nice to have that extra cushion so that you can bear the burden later on instead of now when you are busy worrying about doing well on your exams and performing correct procedures with the EKG machines. As long as you spend wisely, you can keep abreath of any arising debts.
Of course, another option is to apply for grants and scholarships. Grants are essentially "free money" that doesn’t need to be re-paid and is provided on a needs-basis. Scholarships are typically awarded on various critera including need and merit. In 2005, more than $2 billion of aid was available for medical students in the form of grants and scholarships. If you think that you have no chance of receiving these kinds of financial aid, you’d be surprised. Think of them as life-saving floats that help you get through the storm. You may know how to swim but sometimes, you just need some help in harsh waters, such as navigating finances while learning difficult procedures and new medical equipment.
