I think it’s weird that there hasn’t been any examples of what a financial aid package for professional school looks like and I would like to know what a real example looks like
There are examples…but you will find them in the medical school section of this forum. You already know that because you have a thread there too.
But to answer again…in the vast vast majority of cases, medical school financial aid looks like loans, loans and more loans. AND most medical schools require parent financials on the financial aid application forms.
There are a small number of very highly competitive medical schools that are offering free tuition for all accepted medical students (with acceptance rates less than 5%). And there are a small number of medical school students who receive some amount of merit aid. A small number relative to the number of accepted students.
If you or your kiddo is expecting to apply to medical school, expect loans, loans, and more loans, and it will be a happy surprise if they receive additional money.
@WayOutWestMom anything I missed?
A real example would be $300,000+ in loans, a significant burden to pay off during a medical or dental career.
Well @ucbalumnus sort of. Federally funded loans for medical school are eligible for income based repayment…so some Med school grads choose this option until their earning power increases.
@thumper1 hit the highlights, but here are some more information–
All federal student loans for professional school are UNsubsidized. Interest starts accruing upon disbursement. Health profession students are limited to a maximum off $40.5K/year in federal student direct loans. Assuming good credit, students may take out up to the published COA in Grad Plus loans (higher interest rates, higher origination fees).
There are 2 options for attending health professions school on scholarship that pays tuition plus a living expenses stipend. Both are scholarship-for-service programs.
[Health Profession Scholarship Program](Army Medical Scholarships | goarmy.com) which requires enlistment in a branch of the military and requires 4 years of service as a military physician starting upon the completion of intern year or residency, depending upon the needs of the service.
[National Health Service Corps Scholarship](Scholarships | NHSC) which requires the recipient specialize in a primary care specialty (FM, general IM, OB/GYN, pediatrics) and serve as a physician for a minimum of 4 years post-residency in a federally designated medically underserved area.
If you want to see the COAs at various medical schools–AAMC has a spreadsheet of costs here: https://www.aamc.org/data/tuitionandstudentfees/
D’s friend joined the army to get medical school paid for. She just finished her residency & will be serving the military as an OB/Gyn in Japan for a few years. Not a bad way to get school paid for.
I don’t think just “joining the army” guarantees medical school acceptance or costs being paid for.
@WayOutWestMom do you know the details?
To qualify for the HPSP program, one first must be accepted to medical schools. In fact, you can’t apply unless you’ve already hold a MD or DO acceptance.
Once accepted, you can apply for the HPSP program, but admission to the program is competitive. Additionally, the applicant must meet all physical, medical and security background requirements for military enlistment.
I know several people who have attended medical school on HPSP scholarships. Three of D1’s medical classmates did, as did one of her co-residents. It’s a nice deal if you can get it. (But note: military doctors don’t get to choose where they’re stationed. Instead of Japan or San Diego, they could end up in Afghanistan, Iraq or patrolling the South China Sea.)
@WayOutWestMom are there also students who attend the armed forces school of medicine? Or something like that?
This?
https://www.medicineandthemilitary.com/joining-and-eligibility/military-medical-school
Yes, there is Hebert SOM at Uniformed Services University of Health Sciences.
https://www.usuhs.edu
Current and former military personnel are given admission preference at USUHS, but civilians may also apply. Civilians must qualify for military service and commission in the Army, Navy, Air Force or US Public Health Service before they matriculate. USUHS is free, but there is a 4-8 year military service obligation that comes into force upon matriculation. (And if for some reason, a student doesn’t complete med school, the service obligation remains.)
D is a third year dental student. Her “package” is loans. Plus whatever we contribute.
One of her classmates thought she would get the full ride Navy scholarship (and she was very competitive), but was turned down and only received loans. IIRC, the Navy gave 90 scholarships to the 5000+students who enrolled in dental school in 2017.
FINANCIAL AID PACKAGE:
QUARTERS 1-4: $0
LOANS AVAILABLE: Unsubsidized
Our daughter and her friends are using loans and their parents to fund their medical/professional school at UC San Francisco ~14K per quarter.
Agree with @ucbalumnus, @thumper1, and @dentmom4 : it’s loans, loans and more loans.
Not sure exactly what program D’s friend was in, but she did indeed receive full funding for med school … and a stipend on top of that. She did not take a break between undergrad and grad, and she had the funding secured before she began med school. She had to go through basic training, and she had to report in the summer (I assume for reserve training?). She had to promise to serve for a certain period of time after she graduated. https://www.goarmy.com/amedd/education/hpsp.html
@kelsmom
The HPSP in your link is what @WayOutWestMom described…
But as I said…it’s not like she just decided to do the military and they paid. She had to be accepted to medical school…just like everyone else.
And then she had to apply for the HSPS. When I was in dental school around 1980, the armed services had to beg students to apply for their full-ride scholarships and not all were taken. Now, with the extremely high costs of school, the scholarships are highly competitive and ALL are taken. 4-6 yrs of service in exchange for all costs paid, plus a stipend and a few weekends a year.
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Officer Training since all HPSP students are commissioned as officers upon enlistment. Additionally, specific service branches may have other active duty requirements prior to the beginning of medical/dental school.
HPSP students are considered active duty military personnel and are prohibited from participating in reserve training or activities.
Here’s a year by guide of what a HPSP student can expect:
https://www.med.unc.edu/mmig/files/2018/11/HPSPSurvivalGuide2013Update.pdf