Congrats! You have received multiple offers of admission to health professional schools. Any one of them would satisfy your educational goals. The question remains, though, of which of these programs will provide you with the best financial aid package. Do you need financial aid? Probably The most practical approach begins by understanding your financial needs….
Yale School of Medicine Announces Second Unit Loan Reduction in Two Years
According to the Yale School of Medicine website, the unit loan – how much med students receiving need-based scholarships are expected to borrow – is being reduced from $23,000 to $15,000 per year for all students beginning in the 2019-2020 academic year. A reduction from $30,000 to $23,000 went into effect for the current academic…
The AAMC Fee Assistance Program: Information for 2019
Applying to med school isn’t cheap (see our breakdown of costs here), and the AAMC understands that not all applicants will be able to cover these costs. AAMC’s Fee Assistance Program was created with the conviction that application fees shouldn’t prevent serious aspiring doctors from pursuing their dreams because of financial obstacles. Let’s take a…
Financial Planning for Physicians, Med Students, and Premeds [Episode 293]
Interview with Ryan Inman, President and Financial Planner at Physician Wealth Services [Show Summary] How are you going to pay for medical school? How are you going to pay off your med school debt after you start practicing? How will you be able to afford a home and some of the comforts you’ve worked so…
NYU School of Medicine Offers Free Tuition to All Med Students
According to an NYU press release, NYU School of Medicine will become the first top-tier U.S. medical school to offer full-tuition scholarships to all current and future MD program students. These scholarships are available regardless of need or merit. More than $450 million of the estimated $600 million it will need to finance the scholarship…
The Military: One Way to Get an MD Debt-Free [Episode 266]
Become an MD Through the Army, Debt Free! [Show Summary] Are you interested in practicing medicine in an environment that allows you to focus on clinical excellence? Do you want to have the option of practicing medicine in a host of different environments? Is it important for you to emerge from medical school debt-free? Do…
Tips for Your Stanford Knight-Hennessy Scholars Program Application
Do you aim to improve the world? Would you like to earn your graduate degree at Stanford tuition-free? Then you will be happy to hear about the new 2018-19 Knight-Hennessy Scholars program at Stanford, a program that will cover 100 Stanford graduate students’ tuition for up to three years, plus provide a stipend for room…
Can a $250 Million Gift End Student Debt at Columbia Medical School?
Attending Columbia University College of Physicians and Surgeons will give you one of the top medical educations in the country, at one of the highest costs. Tuition for one year is $59,364. If you add in fees and living expenses, you’ll easily get to $90,000. That’s close to $100,000 PER YEAR for four years! According…
5 Tips for Funding Your Medical Education
Have questions about securing the funds for your undergraduate or medical degree? CommonBond has five must-know tips for financing your education. 1. Always Complete a FAFSA It takes just 21 minutes, on average, to submit a Free Application for Federal Student Aid (FAFSA), and yet $2.7 billion of grant money went unclaimed by high school…
Managing Your Student Debt After Medical School: 5 Must-Know Terms
So you’re nearing the end of medical school and you’ve got mountains of debt, but don’t know how best to maximize savings and keep your financial picture healthy. CommonBond is here to help break down some common terms and show you how to save thousands on your student loans. 1. Grace Period What is the…
What’s the Cost of Applying to Med School?
The cost of attending med school is well over $100,000 (yikes!), and on top of that, you’ll need to pay to apply to med school. Let’s look at how much the different application components cost: 1. MCAT: The MCAT registration fee is $310. This includes the cost of the exam and the distribution of your…
SoFi Launches Medical Resident Student Loan Refinancing Product
SoFi has introduced an addition to its market-leading student loan refinancing offering, especially designed for medical residents and fellows. The Medical Resident Student Loan Refinancing product will allow eligible medical students and fellows to keep their student loan interest from compounding (although it will still accrue) for the duration of their residency – up to…
Sallie Mae: Student Loans with Options and Flexibility [Episode 222]
How are you going to pay for grad school if you don’t get a scholarship? Loans. Let’s learn about Sallie Mae’s student loan options. Our guest today is Charles Rocha, EVP and CMO of Sallie Mae. Charlie had over 20 years of experience at Bank of America, MBNA and NationsBank before joining Sallie Mae in…
The Paul & Daisy Soros Fellowships for New Americans [Application Essay Tips]
Paul Soros was often overshadowed by his younger brother, financial wizard George Soros, but he was a millionaire in his own right. In contrast to George Soros’s success in the financial industry, Paul Soros made his mark on the world by innovating in the shipping industry, filing patents, winning several engineering awards, and innovating in…
Paul & Daisy Soros Fellowship for New Americans: Funding, Community for Immigrants [Episode 206]
Let’s learn about the $90K fellowships awarded by The Paul & Daisy Soros Fellowship for New Americans. Today’s guest, Dr. Craig Harwood, earned his BA in Music from Queens College and then a PhD in Music Theory from Yale University in 2002. Dr. Harwood went on to serve as the dean of Davenport College at…
Will Your Graduate Education Pay? [Episode 195]
Saving money on your student loans, ranking grad programs based on salary-to-debt ratios, plus life as a Columbia Business School grad. All in today’s show. Today’s guest, Amanda Wood, graduated from Vassar College in 2009 with a degree in social psychology and economics. After graduation, she worked at BNY Mellon and at Brigham and Women’s…
Saving Money on Your Student Loan Debt: The CommonBond Story [Episode 142]
Today’s show: a conversation for anyone with student loans. We’re talking with CommonBond’s Phil DeGisi about options to save money by refinance outstanding student loans and financing your education, as well as CommonBond’s MBA Accelerator and Social Impact Award and his own MBA experience. Meet Phil DeGisi [1:40] Undergrad at Vassar, Tuck MBA. After earning…
Quick FAFSA Facts
It’s January. The holidays are over, people are working on (or already breaking) their new year’s resolutions… and it’s time to file the FAFSA. Here are a few must-know facts and tips: • The FAFSA is the first step towards qualifying for federal and state financial aid (grants, student loans, work study, etc). Many universities…
Improving Med Students’ Financial Literacy
An AAMC report from last year revealed that 84% of med students graduated with an average debt of $180,000. There are numerous repayment options available, and, now, according to a recent AAMC article, there’s a growing push for the schools themselves to take a more active role in helping students understand those options and create a…
3 Ways to Make Your Own Student Loan Luck
“Diligence is the mother of good luck.” – Benjamin Franklin If you’re one of the 37 million Americans with student loans, you know it’s going to take a lot more than a few four-leaf clovers to make your debt disappear. You wouldn’t rely on winning the lottery in order to pay your loans, would you? …
