Financial Aid

Our Financial Aid Office, located in the Office of Student Affairs and Admissions, offers financial counseling services and can help you finance your medical education through a variety of scholarships and loans. When you apply for financial aid, you are automatically considered for all Boonshoft School of Medicine scholarship programs for which you are eligible.

A variety of financial aid is available

Campus-based scholarships

Wright State University Boonshoft School of Medicine awards scholarships that require no application from you. The selection is made from information gathered from the AMCAS application and/or from the FAFSA.

External scholarships

The Financial Aid Office can recommend other sources of support. We encourage you to seek out external scholarships. Suggested search sites include FastWeb.com and ScholarshipExperts.com. (See additonal links at the bottom of this page.)

Federal student loans

You do not need to seek out your own loan information. The Boonshoft School of Medicine will do that for you. Federal student loans available to you as a medical student are:

  • Federal Direct Unsubsidized Stafford Student Loans
    This is an unsubsidized loan that is not awarded on the basis of need. The student will be charged interest from the time the loan is disbursed until it's paid in full. If the student chooses not to make interest payments and allows the interest to accrue (accumulate) while in school or during other periods of nonpayment, the interest will be capitalized. This means the interest will be added to the principal amount of the student's unsubsidized loan, and additional interest will be based on that higher amount.
  • Federal Direct Graduate PLUS Loan
    This is an unsubsidized loan that is not awarded on the basis of need. The student will be charged interest from the time the loan is disbursed until it's paid in full. If the student chooses not to make interest payments and allows the interest to accrue (accumulate) while in school or during other periods of nonpayment, the interest will be capitalized. This means the interest will be added to the principal amount of the student's unsubsidized loan, and additional interest will be based on that higher amount.
Service commitment scholarships

These scholarships provide tuition and living expense support in exchange for a work commitment after residency. The work commitment typically is for the same number of years as the scholarship. Examples include:

To apply for financial aid

Step 1: Complete your FAFSA

To apply for financial aid at the Boonshoft School of Medicine you must complete the Free Application for Federal Student Aid (FAFSA) or the FAFSA renewal application. The FAFSA renewal application for continuing students is due March 1. The Financial Aid Office will use your FAFSA to determine your financial aid award.

We recommend that you provide parental information on the FAFSA , even if your parents don't contribute to your support. To be considered for additional low interest rate loans, you must provide parental information. Your completed FAFSA should be submitted to the Department of Education electronically at this link:

  • FASFA Form
    (Wright State's federal code is 003078)

Federal regulations require the Financial Aid Office to have your FAFSA before processing your loans.

Step 2: Estimate your expenses

The Office of Student Affairs and Admissions has prepared a worksheet that can help you estimate your medical school expenses and the amount of loan you may incur. Download the 2014–15 Student Expense Budget (tentative) to learn more.

Tuition & fees for first-year students for 2014-2015*
Annual Expenses
Ohio Resident
Non-resident
Tuition
(Instructional & General)
$33,296.00
$49,956.00
Other Fees
$3,189.50
$3,189.50
Total
$36,485.95
$53,145.95

*2014-2015 tuition & fees will be finalized in June 2014

Financial Information, Resources, Services and Tools (FIRST)

Created by the Association of American Medical Colleges (AAMC) in collaboration with the medical school financial aid community and the Organization of Student Representatives, FIRST for Medical Education offers a full range of Financial Information, Resources, Services, and Tools for applicants, medical school students, residents, advisors and financial aid officers. The AAMC's goal is to help medical school borrowers expand their financial literacy, make smart decisions about student loans and manage their student debt wisely.

The FIRST program offers:

  • An A-Z Reference List
    A list of available tools and resources located on the FIRST Web site
  • FIRST Factsheets
    Fact sheets on a variety of financial aid related topics. Facts are designed to reduce often confusing or complex topics to the basics.
  • Resources
    Guides, publications and Web resources to help you understand financial aid.
  • Medloans Organizer & Calculator
    Organize and track your loans, then view sample repayment scenarios with the only web tool of its kind specifically developed for medical students.

More helpful links