I am going to begin sending you all information that I think you will 
find useful now or in the near future. The information below is really 
for those who are already accepted or applying this year but all 
students should begin thinking about these issues--the sooner the 
better! Hope this type of information you find useful! Ms. Wood-Hill

For those of you who are accepted already or applying this year, how to 
pay for medical school needs to be thought about carefully.  Below are 
some things you can begin doing now in preparation for your future 
goals! Below are considerations for when you enter.  REMEMBER:  There 
are many, many costs associated with the application process itself!  
AMCAS fees will cost you close to $1000.00 for 10 or more schools.  
Each school has secondary applications that will cost $50-100. per 
school and then you have to factor in travel and hotel fees.So planning 
ahead for these expenses will help you as well in your efforts to 
acheive your goals!  DEFINE GOALS
?	What do you want to do?  Own home, car, kids in private schools, 
retirement lifestyle
?	What is the philosophy of the financial aid office of each school you 
wish to attend?  Will they pay for child-care/sibling/parent/spouse?  
Will they give additional funds for travel home?  COLLECT DATA AND 
ASCERTAIN YOUR COSTS
?	What is it going to cost in tuition, living expenses, books, 
supplies, travel, etc.
IDENTIFY INCOME SOURCES
?	Parents/Relatives
?	Savings
?	Work-study
?	Loans/Scholarships ?	Service obligated scholarships
ANALYZE CASH FLOW
?	Fixed expenses ? rent, tuition, gas, electricity
?	Variable expenses ?food, clothing, entertainment
OUTLINE OPTIONS
?	Compare financial aid packages ?	weigh loan rates and maximum amounts 
you can borrow
?	Look at repayment terms/grace periods
?	Deferment options
?	Pay off consumer debt before you begin school!
DESIGN BUDGET
?	Stick to it!!!
CONTROL YOUR FINANCIAL   ACTIONS
?	Limit credit card debt!!! ?	Get rid of extraneous expenses on cell phone
?	Sell car or don?t buy one
?	Get a roommate
?	Call home collect
?	Don?t eat out a lot ?	Do your own nails/hair
?	Ask for clothes for gifts at X-Mas, birthday, etc.
?	Copy someone else?s CDs
?	Live with your old computer until it dies
?	Find receptions with free food
ESTABLISH AND MAINTAIN RECORDS
?	Set-up filing system ?	Maintain copies of all correspondence from 
your financial aid office
?	Keep lenders appraised of your address
?	Find a financial planner and begin looking at future expenses vs. 
future earnings.


FINANCIAL AID WEBSITES

www.aamc.org

www.finaid.org

www.salliemae.com

www.fastweb.com

www.ed.gov/offices/OSFAP/DirectLoan

www.nmf-online.org

www.amsny.org

www.hsf.net

www.highered/kiap/scholarships/rhc.htm


ORGANIZATIONS WITH INFORMATION ON FUNDING SOURCES

American Indian College Fund
College Connection
College Fund/UNCF
College Link
Fastaid
Free Scholarship Search Information Service
Dept. of Higher Education in your state