The Saga of a Medical Student and his Financial Struggle
1. Make loan repayment a priority:
The first item on the priority list must be to repay off the loan as this helps to save the interest amount.
2. Consider refinancing your loan:
By dropping the interest loan from 9% to 6% or 5% with another provider, students can gain significant financial benefits.
3. Opt for federal loan forgiveness programs and scholarships:
These programs can be availed by a medical school newbie, resident students as well as by students who are looking out for a job after graduation.
4. Offer your services to the Military:
Students who draw agreement with the military for a specific number of years are also offered grants. Experts recommend students to enter the onsite MCAT training course phase with a financial plan in place. This helps smooth sailing through the medical school years and later on too.