Navigating the Financial Aid Process
Debt management counseling and financial literacy support.
Pursuing your medical education can be costly, but scholarships, loans, personal financial advising, workshops, and financial literacy resources are available to you through the Financial Aid Office.
As a student, your Financial Aid Counselor is available to guide you through understanding your financial aid package, student loans, borrowing, budgeting, and debt management strategies. Meet with your counselor at least once per year. Your counselor is ready to assist you!
- Guidance available to you
Personalized counseling with your Financial Aid Counselor. Connect with us to schedule your appointment.
Personalized loan exit counseling for graduating students to discuss tailored debt management and repayment strategies.
- Not yet a graduating senior but want to discuss personalized repayment strategies now? Connect with us to schedule your appointment.
Mandatory Loan Entrance Counseling to learn student loan, borrowing, and repayment basics.
Mandatory Loan Exit Counseling to receive loan-specific repayment information and options.
- Additional resources for managing student loan debt
DGSOM Financial Aid and Borrower Basics A publication required for all first-year students, given to complement the annual Financial Aid Orientation presentation.
Managing your Financial Aid Dollars in School: DGSOM publication provided during pre-matriculation workshop to assist in budgeting/wise spending to minimize borrowing.
UCLA’s Mandatory Online Entrance/Debt Management Session The session provides information on the terms and conditions of the loans, rights, and responsibilities of student loan borrowers, long-term effects of borrowing, and loans to meet the cost of attendance.
UCLA’s Mandatory Online Exit/Debt Management Session For graduating seniors, provides terms and conditions, monthly repayment amounts under the various repayment plans, information on loan forgiveness and repayment, federal consolidation, and default prevention.
Department of Education’s Loan Simulator Formerly called the “repayment estimator” this calculator is required for seniors’ one-on-one debt management counseling. In addition, the website provides a one-stop shop for applying for and managing federal student loan debt and includes the student’s list of all federal loans borrowed to date.
DGSOM Financial Aid Notification Guide (PDF) Publication to assist in understanding the financial aid award letter (including the cost of attendance, gift aid, and loans).
DGSOM Guide to Unsubsidized Loans (PDF) Publication to assist in understanding this Federal Direct Loan Program, eligibility, interest rates, loan fees, application, disbursement, and repayment.
DGSOM Guide to Graduate PLUS Loans (PDF) Publication that describes this additional Federal Direct Loan Program, eligibility, credit requirements, interest rates, loan fees, application, disbursement, and repayment.
AAMC FIRST Financial Aid Fact Sheets Short articles about common financial aid topics important to pre-medical students, current medical students, and residents that include:
- Budgeting Worksheet for Students
- Transitioning to Medical School: Financial Tips
- Roommates and Finances
- Debt Management Relies on Good Record Keeping
AAMC Medloans® Organizer and Calculator (MLOC) Assists medical students and residents with managing their education debt, providing a secure location to organize and track student loans while also displaying possible repayment plans and costs based on the borrower’s student loan debt.
AAMC Education Debt Manager for Matriculating and Graduating Medical School Students Comprehensive financial guide that helps medical students navigate the complexities of financing medical school through the responsible borrowing and repayment of student loan debt. This valuable resource is provided to entering students upon matriculation, and to seniors during their one-on-one debt management counseling.
AAMC First Videos and Webinars Watch videos and webinars to learn about paying for medical school, borrowing strategies, repaying student loans, and much more.
Annual workshops offered throughout the school year for all Classes include the following content on money and debt management:
- Borrower basics and minimizing borrowing
- Budgeting your financial aid dollars to reduce borrowing
- Outside scholarships to maximize the overall scholarship package and reduce borrowing
- Debt management or planning now for repayment
- Other financial wellness topics
Establish California Residency to Reduce your Cost of Attendance
An option to reduce your overall cost of attendance is to establish California residency at the end of MD year-1. Establishing a California residency will significantly reduce your tuition and fees starting in year-2 of medical school and therefore reduce your need for borrowing.
The annual non-resident tuition portion is $12,245. By establishing residency, you will save $36,735, over years 2-4 (as of 2021 tuition rates). To petition for California residency and additional information, visit the UCLA Residence Deputy.