As you consider the cost of attending graduate studies, we strongly encourage you to review your ‘VITAL’ statistics for ensuring your financial aid well-being while attending school. Getting into financial ‘shape’ may be one of the best activities you can do for yourself. Whether it is our physical, nutritional, or spiritual health, there may be other choices we can make to take better care of ourselves. When it comes to our financial health, there may be better ways to manage our money.
Financial literacy resources are provided here to give basic money management information as a starting point for financial education. While we believe this information to be of value, it is not intended to be an all-inclusive listing of resources. The weblinks listed below were developed by the AAMC. The are valuable links for all health profession disciplines - not just for medical students.
Budgeting: First and foremost it is important to remember to review your financial aid award notification for each semester's disbursement amounts. The scheduled disbursements are in accordance with federal financial aid regulations. The disbursements must first be used to pay for your tuition and fees. The remaining financial aid is issued to you as a credit balance refund to pay for your books/equipment and cost of living expenses. This credit balance refund can be several hundred to several thousand dollars to cover 4-6 months of living expenses at a time. Prudent money management will insure that you do not use all of your financial aid with the first few months of receiving it.