Hey everyone,
I recently got accepted into a BS/DO program (super excited!!), but I haven’t received my financial aid package yet, and I’m starting to worry about tuition—not just for undergrad but also for the DO portion. I really want to attend, but I need to understand what the financial commitment looks like.
For those currently in a BS/DO program:
- How does financial aid work for both the BS and DO years?
- Are there scholarships or grants available specifically for BS/DO students?
- Did you find loans to be the main option for covering tuition?
- Any advice on managing costs throughout the program?
I’d really appreciate any insights! Thanks in advance.
Congrats on your acceptance. Look on the school’s website for this info. Did you apply for financial aid and complete FAFSA by the school’s deadline? Did you run the school’s net price calculator? That estimate should apply for the BS portion. DO degrees are typically funded either by parents and/or loans.
Also remember there are more costs than tuition…room and board are the next biggest nugget, then also books, travel, incidentals, and possibly health care insurance.
Do you have a set budget from your parents for the BS portion of school? DO?
Any aid, if any is offered, will be for the undergrad portion of your education only.
For med school, students and their parents are expected to pay the full cost of their medical education. Any FA will come in the form of loans.
If the professional portion of the program begins before you’re awarded your BA/BS, any undergrad aid disappears even though you have not officially graduated. (In accelerated 6 or 7 year BA/DO programs, students frequently complete the first year of med school before they receive their bachelor’s degree.)
Medical students qualify for up to $40,500/year in unsubsidized Direct Student Loans. (Meaning interest will begin to accrue the minute the loans are disbursed.) Additional Grad Plus loans will be available for up to the school’s published cost of attendance. Grad Plus loans are also unsubsidized and have a higher interest rate and higher origination fee than Direct Loans.
During med school, you may be able to place your loans in forbearance. This means you’re not expected to make payments on the loans, although interest will continue to accumulate.
After graduation, you will have the option to enroll in a IBR (income based repayment) plan to begin repaying your loans.
P.S. Don’t count on PSLF to help you repay your student loans.
To answer the rest of your questions.
- Are there scholarships or grants available specifically for BS/DO students?
Typically no. But because direct admit students usually have high stats, they may be eligible for some merit aid for undergrad.
- Did you find loans to be the main option for covering tuition?
For med school tuition & fees, loans will almost certainly be your only option. Plus more loans to cover living expenses (housing/rent, meals, mandatory health insurance, professional wardrobe, exam and exam prep fees, transportation to clinical sites, parking, auto insurance, gas & maintenance, books & study aids, etc.)
- Any advice on managing costs throughout the program?’
Med students are not allowed to hold off campus or outside jobs so don’t plan of working to cover your costs. (You’ll be asked to sign a contract saying you agree to this requirement as part of your enrollment process, Violating the agreement means you can be expelled from med school.)
Get a roommate. Cook for yourself instead of doing take out food. (Healthier and cheaper!) Pack lunches to take to campus. Learn to drink the [free!] black coffee in the resident/med student lounges at the clinics & hospitals you rotate thru. Use public transit if practical. Thrifting for household furnishings and professional clothing. Buy a student pass to the school’s gym instead of joining a private gym. Or even better, buy a used bike and commute by bike to get your exercise in AND save on parking/auto costs.
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