Student Financial Services
Estimated 2013-2014 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 |
| 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 |
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 $367 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.
2012-2013 Medical Student Financial Aid Budgets
| Out of State Residents | 1st Year | 2nd Year | 3rd Year | 4th Year |
|---|---|---|---|---|
| Aid Year Length | 42 weeks | 40 weeks | 46 weeks | 40 weeks |
| Tuition | $52,630 | $52,630 | $52,630 | $52,630 |
| Student Fees | $1,913 | $1,733 | $1,733 | $1,733 |
| Average Loan Fees | $1150 | $1150 | $1150 | $1150 |
| Books & Supplies | $2,566 | $442 | $120 | $120 |
| Room | $7,266 | $6,920 | $7,958 | $6,920 |
| Meals | $2,646 | $2,520 | $2,898 | $2,520 |
| Required Exam Fees | $0 | $535 | $535 | $1,140 |
| Curriculum Related Travel | $334 | $334 | $1,380 | $1,567 |
| Miscellaneous - Travel | $2,582 | $2,490 | $2,766 | $2,490 |
| Miscellaneous - Other | $2,604 | $2,480 | $2,852 | $2,480 |
| Total | $73,691 | $71,234 | $74,022 | $72,750 |
| Vermont Residents | 1st Year | 2nd Year | 3rd Year | 4th Year |
|---|---|---|---|---|
| Aid Year Length | 42 weeks | 40 weeks | 46 weeks | 40 weeks |
| Tuition | $30,070 | $30,070 | $30,070 | $30,070 |
| Student Fees | $1,913 | $1,733 | $1,733 | $1,733 |
| Average Loan Fees | $489 | $489 | $489 | $489 |
| Books & Supplies | $2,566 | $442 | $120 | $120 |
| Room | $7,266 | $6,920 | $7,958 | $6,920 |
| Meals | $2,646 | $2,520 | $2,898 | $2,520 |
| Required Exam Fees | $0 | $535 | $535 | $1,140 |
| Curriculum Related Travel | $334 | $334 | $1,380 | $1,567 |
| Miscellaneous - Travel | $2,032 | $1,940 | $2,216 | $1,940 |
| Miscellaneous - Other | $2,604 | $2,480 | $2,852 | $2,480 |
| Total | $49,920 | $47,463 | $50,251 | $48,979 |
Last modified April 11 2013 10:53 AM
