Paying for application fees

[kdmt7]

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I could not find any good information using the search function so I thought I'd ask. How do you plan on paying for applying to medical school? So far the primaries will already cost $450 and then you have to take into account secondaries, traveling, and the deposit if you get accepted. I am looking into getting an alternative loan but do not know exactly which companies to look into or how they work. Does anyone have any good advice?

 

[BCLumas]

I paid out of pocket. It was expensive, but I felt it was what I needed to do. I heard some rumors that if you keep your receipts then you can claim it as an educational expense on your taxes. I don't know, though.

 

[HippieChick]

I paid out of pocket as well. I knew the process was going to be expensive so I saved as much as I could while working in my undergrad years, and I took a year off from school after graduating to make money and apply to med schools. My family also knew how expensive the process was so when I sent out my graduation announcements I received some helpful checks from them.
Good luck coming up with the money, it is expensive, but it can be done!

 

[ShyRem]

Unless tax codes have changed, you cannot deduct application fees on your taxes. Sorry.

 

[gasapple]

Determining if your expenses are deductible can be a bit tricky. (Figure 27-A, on page 185 of IRS Publication 17, is a handy reference to determine if you qualify for the deduction.) The education must be required by the employer or by law to keep one's present salary, status, or job and maintain or improve skills required in the present job or "serve a bona fide business requirement" of the employer. This may include refresher courses, courses on current developments, and academic or vocational courses. However, the education cannot be part of a program that will qualify you for a new trade or business.

In the Allemeier ruling, the court noted that past courts had found that "education expenses were not deductible, even where the taxpayer performed many of the same activities before the education. For instance, the court denied taxpayers' deduction for law school expenses on four occasions because law was a field of study that led the taxpayers to qualify for the new trade or business of being an attorney."

Random Article Regarding MBA Expense Deduction

 

[fromcali2va]

I got fee waivers, but I wanted to apply to more than 3 DO schools so I sent out letters to every family member that I could possibly think of. I basically told them that I really want to go to medical school next year and if they could help in ANY way I would really appreciate it. A lot of people sent money, some offered me frequent flyer miles, others a place to stay and dinner during interviews. I have a great family😍

 

[crewbierae]

I'm currently looking for a loan to help me cover the costs of secondaries/travel. I unfortunately have to fly to all but one of the schools I applied to, so this is going to be expensive...

Does anyone know of a good program/company to get a loan from for something like this?

 

[HarMegido]

the expenses really bothered me but think of them as an investment

 

[Dienekes]

I could not find any good information using the search function so I thought I'd ask. How do you plan on paying for applying to medical school? So far the primaries will already cost $450 and then you have to take into account secondaries, traveling, and the deposit if you get accepted. I am looking into getting an alternative loan but do not know exactly which companies to look into or how they work. Does anyone have any good advice?

 

[MossPoh]

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inheritance

turning tricks