1. FINANCIAL AID FOR YOUR M4 YEAR
What do I need to know and do, and when?

2. Scholarships
Apply for any COM Scholarships if/when the application becomes available.
Remember to include parent data on your FAFSA to complete your COM Scholarship Application
You still have time to start your own Scholarship Search. Each external scholarship will have its own deadline to apply and they can be very early.

3. Your 2019-2020 Cost of Attendance

4. Residency Interviews
Funding for Residency Interviews is not included in your initial budgets.
You may request an adjustment to your budget if you are already funded up to your Cost of Attendance. Your budget may increased by up to $6,000 for allowable documented expenses, to include application costs, which will increase your aid eligibility.
Only the original interview can be funded; not 2nd looks.
Try to schedule interviews in the same area at the same time so you only need to make one trip.
If you are not sure if something can be funded, please ask.

5. Residency and Relocation Loans
These loans are available to 4th year medical students to assist with the costs of away rotations, residency interview trips, and relocation to where you will enter your residency programs.
They do not have the same provisions as Federal Loans (i.e. deferment, forbearance, extended repayment, forgiveness, etc.).
They offer variable and fixed interest rates.
Do be sure to compare all provisions of these loans before choosing them over the Federal loan programs.
They are not “BAD” loans, but it is extremely important that you be aware of all provisions before accepting one of these loans.

6. Away Rotations
Funding for Away Rotations is not included in your budgets.
You may request an adjustment to your budget to if you are already funded up to your Cost of Attendance. Your budget may increased up to $2,500 for eligible, allowable documented costs, which will increase your aid eligibility
Residency and Relocation Loans (private loans between you and the lender) are also available to assist you with these costs.
If you have adverse (bad) credit, you will not be able to use these programs (or may need a co-borrower), as they are credit based loans.
Major players in this market are: Sallie Mae, Discover and Wells Fargo, Citizens Bank and PNC Bank.

7. Alternative Loans
These loans are similar to Residency and Relocation Loans; however, you do not have to be a fourth year student to use them.
The same rules regarding loan provisions apply, so be knowledgeable about the loan terms and costs before using these loans.
Eligibility for these loans is usually limited to your budget less any other financial aid you have.

8. Financial Aid Meeting Requirements as M4’s
If you have ANY student loan debt, you will be required to attend a one-on-one meeting in the Office of Medical Student Financial Aid to review your expected debt at graduation and the repayment programs available to you.
You will be required to update your MEDLOANS Calculator at aamc.org/mloc prior to our meeting.
Finally, you will attend your last Student Loan Repayment Seminar during your Transition to Residency program in the spring of This is a time for you to ask any final questions before you leave us.

9. Time for Your Questions