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Tuition Payment

Discussion in 'Medical Students - MD' started by SicVic, May 20, 2002.

  1. SicVic

    SicVic Senior Member
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    Hey guys - I need help.
    I already received my budget for my 1st incoming year. it includes Loans and Grants.
    Now how does that translate to paying for my tuition during the 10months in school

    What would I be receiving and then what would I be paying towards my tuiton? This would help me calculate what I will be paying -if I enroll in a montly tuition payment plan.
     
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  3. daisygirl

    daisygirl woof
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    Do schools expect you to pay the year's tuition in the beginning or do they allow you to pay it in two dispersements (I guess like how you receive your loans). :confused:
     
  4. SicVic

    SicVic Senior Member
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    I just figured out what I have to pay during my first year
    - So the way it works is you take your personalized budget for the year (usually the school gives you a budget summary)
    Subract any grants and loans. Then you are left with what you are required to pay during the year.
    This usually includes out of pocket amount designated to be paid by the student and Parent.

    Loans are usually not expected to be paid back during your medical school years.
    Obviously, grants and scholarships are free money.
    </font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by daisygirl:
    <strong>Do schools expect you to pay the year's tuition in the beginning or do they allow you to pay it in two dispersements (I guess like how you receive your loans). :confused: </strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">The money we owe to the school that is required to be paid during the school year - can be paid in one lump sum - or in montly payments(but your school should clarify your options).

    People, Correct me if I'm wrong
     
  5. Zeffer

    Zeffer "My dog ate em. I swear thats the truth!"
    Lifetime Donor Classifieds Approved 10+ Year Member

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    As far as I know generally you pay two lump sums. One at the begining of each semester (this is how we do it at my school). So the total aid you are eligible for is divided into two dispersements. I'm sure some other payment options may be available, but that is how most students/schools do it. Hope this helps.
     
  6. paean

    paean Senior Member
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    Almost every school will first apply your student loans and grants to the tuition, and then give you anything left over. So if your aid exceeds your tuition, you have no need to sign up for an installment plan, because they will pay themselves first. You will usually get any money left after the school pays itself in two lump installments, at the beginning of each semester.
     

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