1. Vanderbilt University School of Medicine

2.  Available Jan. 1  Complete prior year tax returns  FAFSA – Free Application for Federal Student Aid  Need Access Application  Priority deadline March 15

3.  Available on our website at https://medschool.vanderbilt.edu/financial- services/ or www.fafsa.gov https://medschool.vanderbilt.edu/financial- services/www.fafsa.gov  Required for federal loans  Student/spouse sections only  School code E00459 (separate from Vanderbilt University)

4.  Available on our website at https://medschool.vanderbilt.edu/financial- services/ or www.needaccess.org https://medschool.vanderbilt.edu/financial- services/www.needaccess.org  Required of those applying for institutional need-based aid  Parental information required  First time Need Access applicants processing fee: $28  Renewal applicants processing fee: $15

5.  Mailed beginning April 15  Identifies aid eligibility  Funds from various sources meet total cost of attendance.

6. Tuition$39,900 Fees 3,153 Books 500 Living Expenses 22,867 Subtotal$66,420 Emphasis Summer Stipend (3,600) Total$62,820

7.  May include dependent child day care costs with documentation - only cost included for family  May not include credit card payments  May not include car payments  Federal regulations and applies to all schools

8.  Have a budget and borrow less.  Do not borrow money just because you are eligible for it.  Borrow what you need, not what you want.  Decline loans that exceed your need.  “Live as a doctor now, and you will live as a student later.”

9. Scholarships Loans

10. 100% have scholarships ranging from $2,000 - $65,000  VMS Need-based Scholarships  VMS Non-need-based Scholarships  Other Scholarships

11.  31% of student body qualify  Ranges from $1,000 - $12,000  Must complete the Need Access application and include parental info.

12. 100% of our students receive a minimum of $2,000—regardless of need.  Merit  Medical Scientist Training Program

13.  Awarded to 23% of our students  No application process  Every student that is invited is considered.  Offered shortly after invited  Phone call from one of the Deans and letter to follow  Awarded for all four years of study  Partial or Full Tuition

14.  10% of our students are accepted.  Funds cover tuition, fees, and a stipend for duration of program.  VMS and NIH funding

15.  1% participating  Tuition, fees, books, and stipend each year  Service requirement  Minimum obligation three years

16.  5% have secured  Miscellaneous organizations and foundations such as sororities, fraternities, and state agencies  Research on your own  Emails sent by our office of opportunities as they become available  Amounts vary

17. 67% have loans ranging from $500 - $62,000  Federal Loans  Private Loans  VMS Need-Based Loans

18. Federal Direct Subsidized Stafford Loans Federal Direct Unsubsidized Stafford Loans Federal Direct Graduate PLUS Loans

19. 67% of our students utilize these loans.  $8,500 maximum available per year  $65,500 maximum aggregate  6.8% fixed interest rate  Interest-free while in school and grace  6-month grace following graduation  1% origination fee and an up-front interest rate rebate of.5%

20. 55% of our students utilize these loans.  $47,167 minus any amount received from Subsidized Stafford  $224,000 maximum aggregate combined subsidized and unsubsidized  Same terms as the Subsidized Stafford except interest accrues from time of disbursement  Interest capitalizes at repayment

21. 16% of our students utilize these loans.  Maximum available per year: cost of attendance minus any other aid received  No aggregate limit  8.5% fixed interest rate  Interest accrues from time of disbursement  6-month grace following graduation  Origination fee of 4% and an up-front interest rate rebate of 1.5%  Credit check - can be denied based on poor credit.  If denied, may reapply with credit worthy cosigner.  www.annualcreditreport.com www.annualcreditreport.com

22.  Available to international students with a U.S. credit worthy cosigner.  Maximum available is the cost of attendance minus any other aid received.  Interest rates vary based on credit score.  Interest accrues from time of disbursem ent.

23.  International students will be considered for these loans since they do not qualify for federal loans.  Must complete the Need Access application and include parental info.  7% interest rate  Interest free while in school, 12-month grace, and three-year residency deferment

24. During residency, there are two choices:  Postpone payments Grace Deferment Forbearance  Make payments Select a repayment plan

25. —a period of time following graduation when you are not required to make payments.  Most occur automatically;  Subsidized loans are interest-free to borrower during grace;  Unsubsidized loans continue to accrue interest. Availability and duration are based on type of loan.

26. —a period of time when a borrower may postpone payments.  You must apply and meet criteria;  Subsidized loans are interest-free to borrower during deferment;  Unsubsidized loans continue to accrue interest. Residents generally no longer qualify for deferment of federal loa ns.

27. —a period of time when a borrower may postpone or reduce payments due to financial hardship.  Application required;  Used after grace and deferment;  Interest accrues and capitalizes on all lo ans. Medical residency forbearance – lender must grant.

28. Determines payment amount and interest cost  Standard (Level)  Graduated  Income Sensitive Repayment  Extended  Income Based Repayment (IBR) May extend payments to as many as 25 years

29.  Payment based primarily on household income.  Family size also taken into consideration.  Partial subsidy available for the first 3 years.  Must demonstrate a Partial Financial Hardship (PFH).  www.IBRinfo.org www.IBRinfo.org

30. Loan Repayment Programs Public Service Loan Forgiveness Progr am (PSLF)

31. —programs that repay your educational debt after you complete residency in return for a commitment of service. The National Health Service Corps (NHSC) at www.lrp.nih.gov www.lrp.nih.gov The National Institute of Health (NIH) at www.nhsc.hrsa.gov/loanrepayment www.nhsc.hrsa.gov/loanrepayment More programs listed at www.aamc.org/stloanswww.aamc.org/stloans

32. —program that forgives the remaining balance due on your federal student loans.  Requires 120 payments to Direct Loans  Requires simultaneous work in public service  Does not have to be continuous work  Payments must be required (versus voluntary)

33.  Non-profit, tax exempt, 501(c)(3) organizations  Federal, state or local government  Military service  Public not-for-profit schools and colleges

34. Vanderbilt$138,000 Private Schools$170,000 VMS range $8,500 - $254,500