Applying For Financial Aid? Few Tips That Will Help YouNovember 28, 2013
Medical school is expensive and most students who wish to apply to medical school will usually also look for financial aid at the same time that they are looking at the various medical schools. When you are looking for financial aid, you will find that there are several organizations, corporations, colleges and universities that offer scholarships based on various eligibility criteria. However, it is not always easy to get a scholarship simply because the number of applicants outnumbers the scholarships ten times over and many of these applicants are equally worthy and qualified. So how can you better your chances of getting some help with easing the financial burden of medical school tuition?
Here are a few tips that will help you while you are applying for financial aid:
- Prioritize your search efforts. Begin methodically and start with all federal government scholarships. You can move onto the private sector for the additional assistance you require after you’ve exhausted the government programs. You can get relevant information at www.finaid.org for funding opportunities.
- Understand and research about how the financial aid process at colleges works. Ensure that you meet with your aid administrator and establish a working relationship with that person to maximize your chances at being successful.
- Regardless of whether you qualify for aid or not, submit a FAFSA. In order to be eligible for any private rewards, it is often a prerequisite that you should first have to be rejected for the federal aid you applied for.
- Do not delay in putting in your application for financial aid. The applications are generally accepted after 1st of January every year and the sooner your applications get to the relevant organizations, the better. There will be times when numerous eligible applicants apply for the same scholarship and the one who gets there first might just walk away with the prize.
- Inform the financial aid administrators about any atypical expenses. There could be some allowance that can help you
- Leverage the tuition prepayment discounts. Certain colleges offer even up to a 10% discount for an early payment
- Any money you receive from your grandparents should ideally be paid under your name directly to the medical school. This will ensure that you do not end up paying any gift tax against it
- Investigate various company sponsored financial aid plans. Many company’s invest in educating their employees
- It is absolutely crucial that you submit your application on time and adhere to the deadlines. That’s the one way of ensuring that you receive funds or win awards
Take your time while filling out the application forms. Keep all your paperwork handy and fill out details correctly. Getting the financial aid you need, can sometimes be the difference between whether or not you are able to fulfill your dream of becoming a doctor.