FINANCIAL AID FOR MEDICAL SCHOOL
Medical school is quite expensive, and nearly all students must accept loans to complete their education. It will be HIGHLY beneficial to you and to your chances of acceptance to be completely free of all financial liability before applying to medical school. Do your best to pay off all loans prior to matriculation. As a medical student, your time will be extremely limited; therefore external employment is usually impossible while in school. If you are not comfortable accepting loans to pay off schooling, the Armed Forces Health Professions Scholarship Programs offer tuition, fees, and a stipend to medical students but also obligate recipients to active duty in one of the services.
The financial aid process for the medical student is similar to the process for the undergraduate. Applicants must submit the Free Application for Federal Student Aid (FAFSA). For students under twenty-six years of age, parental information and signatures must be included on the FAFSA to be considered for aid from all sources. All financial aid awards are based on demonstrated need. The Federal Direct Student Loan Program, both subsidized and unsubsidized, the Federal Perkins Student Loan, the Primary Care Loan, the UWSoM Loan, and the Alternative Loan Program are the primary sources of aid. Partial scholarships are available through the UWSoM Scholarship Fund. These awards are need based and require financial information from the student and his/her parents. FAFSA information and applications can be obtained online at www.fafsa.ed.gov. This is an excellent site with a great deal of information about student aid.
Gather all the documentation you will need before filling out the on-line FAFSA form. The Department of Education school code for the University of Washington is #003798. NOTE: Generally the deadline to complete a FAFSA is in February of the year for which you are applying (for fall admissions). Check the FAFSA website and the UWSoM Financial Aid Office website for more information about deadlines.
To be eligible for full financial aid consideration, a student must submit the FAFSA on time regardless of whether he/she has been accepted to the schools listed on the FAFSA. Remember, filling out the FAFSA only makes you eligible for financial aid.
Once the form is processed, you will be given an offer of financial aid that you can accept or reject. The process is quite lengthy; therefore you should fill out the FAFSA as early as possible. Remember, most financial aid is given as a loan which must be paid back at some point in time. Do not borrow unnecessarily.
Questions?
Contact the UWSoM Financial Aid Office for more information about financial aid for Alaska WWAMI students.
Helpful Links
American Medical Association, Medical Student Section - Resources for Financing Medical School
AAMC - Financial Aid Forms Required by Medical Schools
AAMC - (MD)2: Monetary Decisions for Medical Doctors
Federal Student Aid - Direct Loan Servicing On-line
Federal Student Aid - National Student Loan Data System
IMPORTANT NOTICE: If you are considering military, Indian Health Service, National Health Service, or other federal assistance that requires a service obligation as part of the support provided, please contact the WWAMI Financial Aid Office at UWSoM [(206) 685-2520] for advice. Policies and regulations have changed.