Money question

[dradams]

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I know this should probably be in the financial aid forum but nobody seems to frequent that area. I was wondering how the financial aid money (loans) is disbursed during med school. Do you get a lump sum at the beginning of school or do you get a series of smaller amounts throughout the year? Can anyone break it down for me?

Thanks.

 

[fuzzyerin]

The way it worked at my school, we'd get a lump of money to live off of in June/July and then again in late January. I think that's also when the government gives the school the monies for Stafford and Perkins loans as well.

 

[GoPistons]

The way it worked at my school, we'd get a lump of money to live off of in June/July and then again in late January. I think that's also when the government gives the school the monies for Stafford and Perkins loans as well.

I agree. Stafford and Perkins pays out twice per year... once in like September and once in January... your private loans and school loans may pay out differently

 

[dradams]

Ok, that is what I figured. Thanks.

 

[erin682]

yeah its 2 lump sums so make sure you budget your money to last the whole time. Also since the second payment has to last all the way from january to august (vs. august to december) or so you have to stretch that one further or save some money from the first payment.