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  1. #1
    Dustin is offline Junior Member 511 points
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    Paying for Ross SOM

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    I tried to conduct a search for financial aid questions and had no luck, so I apologize if this is a repeated thread.

    I have now officially paid my deposit in full for the September 2012 class, and now the reality of paying for my med school education is setting in. I do not come from a family of any real financial wealth and will have no outside help for anything as to travel, housing, tuition, books, etc. How realistic is it that someone in a position such as mine will qualify for loans to cover tuition and living expenses for the four years of school? I can't imagine a bank granting me a loan of such value when I don't have a co-signer or any income of my own coming in nor do I own any hard assets.

    Thank you all for your time and help.

    V/r,

    Dustin

  2. #2
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    medic300107 is offline Supermedic Moderator 10497 points
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    us or canadian? The fact you applied, interviewed, and deposited at a school before thinking the financials out is a little (to put it light) misguided and not well thought out. US students get federal loans. If canadian and ontario you get OSAP, other than that you're on your own.
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  3. #3
    Dustin is offline Junior Member 511 points
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    Maybe you could view it as misguided, but if we hold on pursuing our dreams until we figure out every daunting detail then how many would conquer?

    I am a US citizen and know about the federal loans, but is it enough to cover the living situation and such? I have always worked full time for my income, so as I will not be able to work, the size of the federal loans given is my concern.

    Thank you medic for your reply, and please do not take my opening statement the wrong way. I in no way mean any disrespect with my answer, just showing you my light of my choice.

  4. #4
    manofsin is offline Junior Member 512 points
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    As long as you dont have something on your credit or done something that would disqualify you, then student loans should be relatively easy to qualify for. Since you have almost a year to get your finances in order, you have plenty of time.. I recommend filling out your FAFSA first, they will list excluding factors in the application and you'll know soon enoguh whetehr you qualify for aid, but the 2012-2013 application wont be available till Jan 1, 2012. Ross should also send you a packet with a list of things you need to do prior to registering, some of those will pertain to finacial aid.

  5. #5
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    Kasia1058 is offline Member 512 points
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    Graduate level students do not have to show proof of income in order to apply for loans. They need proof of enrollment and relatively good credit (to show that they can pay them back). If you take all loans upfront then you won't have to worry about paying tuition (the school will deduct tuition before they issue you a refund check).
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  6. #6
    Dustin is offline Junior Member 511 points
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    Thank everyone for their replies, they have brought great insight and help.

  7. #7
    UrbanMD is offline Member 660 points
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    With the FASFA you will be able to get something like 10k a semester for living expenses on top of tuition. Your questions are fair, and you will be just fine. I had the same questions as I had worked and paid my undergrad tuition and did not apply for federal loans until medical school. It's spooky to look at the numbers, but look at starting salaries of physicians too. That may assuage your fears.......

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