med school loans

[Symmetry11]

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how much can a medical student take out on loans for tuition, books, housing, etc?

 

[SpartanWolverine]

Up to the total cost of attendance, as calculated by your school [e.g., "TOTAL" below], will be covered by unsubsidized Stafford and PLUS loans. Some schools also add an additional allowance if you have dependent family members, need to buy a computer, etc.
Example:

 

[futuredoc331]

I have a follow up question to this. Can anyone chime in on what a total loan package might look like? I am not going to be eligible for a plus loan unless I have a cosigner. I'm trying to figure out how much I will be able to get without one.

I know the Stafford will go up to 40,5000. There's also the Perkins, which is need based that goes up to 8,000, right? So without the plus loan I'm looking at a 48,500 limit?

Thanks in advance.

 

[NickNaylor]

I have a follow up question to this. Can anyone chime in on what a total loan package might look like? I am not going to be eligible for a plus loan unless I have a cosigner. I'm trying to figure out how much I will be able to get without one.

I know the Stafford will go up to 40,5000. There's also the Perkins, which is need based that goes up to 8,000, right? So without the plus loan I'm looking at a 48,500 limit?

Thanks in advance.

In terms of federal aid you will receive the annual Stafford loan maximum guaranteed. Perkins loans may or may not be granted to you - I'm not sure of what the requirements are or how they're awarded, but I know I didn't receive them during my first two years but did receive them for the last two years.

Beyond that, you may get some institutional loans depending upon how your institution works in addition to any other grants that you may have been awarded. Beyond that, I think you'll have to rely on GradPLUS and/or private loans.

 

[Mayday_]

Sorry to hijack your thread, but I have a question to add.

I've noticed that the COA only includes 10/12 months for the first year. What do people typically do if the calculated COA doesn't actually cover quite enough for the other 2 months of the year? I'll be moving across the country, so living at home for summer isn't an option for me.

 

[NickNaylor]

Sorry to hijack your thread, but I have a question to add.

I've noticed that the COA only includes 10/12 months for the first year. What do people typically do if the calculated COA doesn't actually cover quite enough for the other 2 months of the year? I'll be moving across the country, so living at home for summer isn't an option for me.

Loans can only be administered for the time in which you're actually a full-time student. This typically excludes the M1 summer and, depending upon your schedule, other times as well. Doing research isn't uncommon during the summer of M1 and you may be able to get a stipend for the work you do.