On Campus Housing?????Medical Schools

[mikejames]

Does financial aid cover on campus housing for Medical School.
For example Meharry Medical has On campus housing does financial aid cover that or do you have to find some other way to pay it off?

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[BellyDancingDoc]

You will get a "living expenses" stipend. This money will be available whether you chose to live on-campus or off-campus.

 

[mikejames]

Will the stipend be enough to pay on campus housing though?

 

[DoctaJay]

Meharry's on campus housing costs are below (estimate):
1 bedroom= $519
2 bedroom= $625

If you check out the apartments in the Meharry-Vanderbilt area, you will find these prices actually below the cost of alot of surrounding apartments. Whether you choose on-campus or off-campus housing while filling out your fafsa, you will be given enough money to pay for it. They allot money for housing according to the costs of living for the area.

 

[Darkshooter326]

Will the stipend be enough to pay on campus housing though?

In almost all cases, yes. When figuring an aid package, the figure the school uses for housing is based on average rent or something in the areas where students live, I am pretty sure. I am betting on campus housing would be cheaper than renting an apartment.

 

[alwaysaangel]

I think the confusion of the OP in this thread is coming from the definition of stipend.

So here's what happens. A medical school adds up the cost of their tuition and an expected living cost (which includes avg rent for the area + food + transportation costs + miscellaneous costs). This is your budget.

A few schools offer need-based or merit-based scholarships - free money. This is subtracted from your budget. Then you are allowed to take out the remaining money you need in loans.

Most schools have no scholarships - you take out the whole amount in loans.

Does that make more sense?