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Estimated 2014-2015 Medical Student Financial Aid Budgets

Click here to view the 2013-2014 Medical Student Financial Aid Budgets

2014-2015 Out of State Medical Student Financial Aid Budgets
Out of State Residents 1st Year 2nd Year 3rd Year 4th Year
Aid Year Length 42 weeks 37 weeks 50 weeks 41 weeks
Tuition $56,060 $56,060 $56,060 $56,060
Student Fees $2,699 $1,797 $1,797 $1,797
Average Loan Fees $1,391 $1,391 $1,391 $1,391
Books & Supplies $1,795 $446 $90 $90
Room $8,106 $7,141 $9,650 $7,913
Meals $2,688 $2,368 $3,200 $2,624
Required Exam Fees $0 $580 $580 $1,230
Curriculum Related Travel $336 $336 $1,650 $1,739
Miscellaneous - Travel $2,860 $2,605 $3,268 $2,809
Miscellaneous - Other $2,520 $2,220 $3,000 $2,460
Total $78,455 $74,944 $80,686 $78,113
2014-2015 In-State Medical Student Financial Aid Budgets
Vermont Residents 1st Year 2nd Year 3rd Year 4th Year
Aid Year Length 42 weeks 37 weeks 50 weeks 41 weeks
Tuition $32,020 $32,020 $32,020 $32,020
Student Fees $2,699 $1,797 $1,797 $1,797
Average Loan Fees $557 $557 $557 $557
Books & Supplies $1,795 $446 $90 $90
Room $8,106 $7,141 $9,650 $7,913
Meals $2,688 $2,368 $3,200 $2,624
Required Exam Fees $0 $580 $580 $1,230
Curriculum Related Travel $336 $336 $1,650 $1,739
Miscellaneous - Travel $2,242 $1,987 $2,650 $2,191
Miscellaneous - Other $2,520 $2,220 $3,000 $2,460
Total $52,963 $49,452 $55,194 $52,621

What you need to know about your financial aid budget:

Your financial aid budget is designed to assist with basic living expenses incurred during the financial aid year. It is not tailored to individual living expenses or choices. Students who sign 12-month leases and/or who do not live with a roommate should keep in mind that the aid budget is designed to cover less than 12 months and assumes that students will be sharing living expenses with a roommate or partner.

Health Insurance

If you are purchasing the UVM Student Health Insurance Plan, you may request an increase in your financial aid budget to assist with a portion of your UVM Student Health Insurance Plan premium costs. Your UVM Student Health Insurance Plan premium provides coverage for the entire year. We can increase your financial aid budget to assist with a percentage of the total premium cost based on the percentage of the year you are actually enrolled.

Exam Fees

Second and Third year amounts are based on registration fees for the USMLE Step 1 and Step 2 (CK) respectively. Fourth year is based on registration fee for USMLE Step 2 (CS).

Curriculum Related Travel

The financial aid budget provides a general allowance for curriculum related travel. Financial aid budgets are not adjusted for actual expenses. Allowances for mileage are based on Doctoring in Vermont for 1st and 2nd year students, clerkships for 3rd year students, and electives/rotations for 4th year students. 4th year amount also factors $500 for travel associated with USMLE Step 2 (CS).

Child Care

Students with dependent children may incur additional expenses beyond the limits of the financial aid budget, and may contact our office to discuss an increase to their financial aid budget for dependent care expenses.

Fourth Year: Expenses Associated with Residency and Relocation

Traveling for residency interviews and relocation to your residency site are common expenses for fourth year students. However, as these expenses are not required in order to complete your MD Program, they are not expenses that can be factored into your financial aid budget. If you have exercised all available fourth year federal and institutional aid and have additional expenses for interviews and relocation, you may need to obtain financing through a private residency/relocation loan.

Residency/Relocation loans are offered by many education loan lenders, however, these are essentially private, consumer loans with all terms negotiated directly between the student and lender. It is important to borrow only what you need and shop around for the most beneficial loan program. In researching residency/relocation loan options, many students begin by speaking with their existing education loan lenders. Student Financial Services cannot recommend specific residency/relocation loan programs.

2013-2014 Medical Student Financial Aid Budgets

2013-2014 Out of State Medical Student Financial Aid Budgets
Out of State Residents 1st Year 2nd Year 3rd Year 4th Year
Aid Year Length 42 weeks 38 weeks 48 weeks 40 weeks
Tuition $54,160 $54,160 $54,160 $54,160
Student Fees $1,956 $1,776 $1,776 $1,776
Average Loan Fees $1232 $1232 $1232 $1232
Books & Supplies $2,566 $442 $120 $120
Room $7,056 $6,384 $8,064 $6,720
Meals $2,562 $2,318 $2,928 $2,440
Required Exam Fees $0 $560 $560 $1,200
Curriculum Related Travel $338 $338 $1,632 $1,714
Miscellaneous - Travel $3,186 $2,954 $3,534 $3,070
Miscellaneous - Other $2,562 $2,318 $2,928 $2,440
Total $75,619 $72,483 $76,935 $74,873
2013-2014 In-State Medical Student Financial Aid Budgets
Vermont Residents 1st Year 2nd Year 3rd Year 4th Year
Aid Year Length 42 weeks 38 weeks 48 weeks 40 weeks
Tuition $30,940 $30,940 $30,940 $30,940
Student Fees $1,957 $1,777 $1,777 $1,777
Average Loan Fees $490 $490 $490 $490
Books & Supplies $2,566 $442 $120 $120
Room $7,056 $6,384 $8,064 $6,720
Meals $2,562 $2,318 $2,928 $2,440
Required Exam Fees $0 $560 $560 $1,200
Curriculum Related Travel $338 $338 $1,632 $1,714
Miscellaneous - Travel $2,536 $2,304 $2,884 $2,420
Miscellaneous - Other $2,562 $2,318 $2,928 $2,440
Total $51,007 $47,871 $52,323 $50,261

Last modified April 09 2014 04:02 PM

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