School of Medicine Financial Aid

Financing your medical education can be quite costly. Utilizing financial aid can help fund your medical education.

Know the cost of attendance for your four years of medical school:

 

Resident First Year
MSI
Second Year MSII
Third Year MSIII
Fourth Year MSIV
Tuition 15,616 15,616 15,616 15,616
Fees* 3,344 3,344 3,344 3,344
Bks/Supp'ls ** 400 400 400 400
Housing/Food 16,500 12,000 18,000 16,500
Transportation 5,500 4,000 6,000 5,500
Personal/Misc 9,812 7,136 10,704 9,812
Other -USMLE n/a 610 2,610 2,000
Other - Externships n/a     3,000
Estimated Total Budget $51,172.00 $43,106.00 $56,674.00 $56,172.00

 

Non-Resident MSI MSII MSIII MSIV
Tuition 28,716 28,716 28,716 28,716
Fees, bks/supp'ls, etc. from above 35,556 27,490 41,058 40,556
Estimated Total Budget $64,272.00 $56,206.00 $69,774.00 $69,272.00

Disbursement Dates 2018-2019

SCHOOL

SUMMER

FALL

SPRING

School of Nursing

05/19/2018

08/18/2018

01/12/2019

Graduate School of Biomedical Sciences

 

08/03/2018

12/28/2018

PLFSOM- MS 1

 

06/29/2018

12/28/2018

PLFSOM- MS 2

 

07/27/2018

11/16/2018

PLFSOM- MS 3

 

05/04/2018

10/20/2018

PLFSOM- MS 4

 

06/01/2018

11/16/2018

  1. The financial aid Cost of Attendance (COA) and financial aid awards are estimated based on anticipated full-time enrollment for fall/spring terms. Financial Aid (Pell Grants) will be adjusted at the end of the add/drop period to reflect your semester registration. You will be expected to repay any overpayment of financial aid that resulted from a reduction in enrollment hours. The outstanding balance will be reflected on your university student account. Students must be enrolled at least half-time for loans. Students, with the exception of Medical, must be enrolled for both 6-week sessions at the beginning of the term to receive summer financial aid disbursements.
  2. All students must meet Satisfactory Academic Progress (SAP). SAP is calculated annually at the end of the spring term once all grades have been posted.
  3. All HOLDs must be resolved for funds to be disburse.
  4. If applicable, refunds are processed by Student Business Services, generally 3-5 business days after funds have been posted to your tuition account.

Financial Aid Timeline

October of Current Academic Year

  • FAFSA available for the new academic year. Entering or returning students must have username and password ready when completing the FAFSA. Use TTUHSC school code 016024.

February

  • Information from your FAFSA will be uploaded into our TTUHSC Financial System during March which will allow us to evaluate your financial need.
  • Submit additional documentation being requested by the Office of Financial Aid.
  • Indicate your enrollment status on WebRaider.

April

  • Expect “Award Notification” by early April.
  • Accept financial aid award offered to you on WebRaider. (Refer to Financial Aid & Payment Fact Sheet for instructions.)
  • First time Direct Loan borrowers will complete an online entrance counseling and sign a Master Promissory Note at gov.
  • Returning students will complete the online entrance counseling at gov every academic year.

May

June

July

December

 

Important: Check your WebRaider to receive any updates on your financial aid status.

Make a Budget

Using the cost of attendance from Texas Tech University Health Science Center El Paso as a budget can give you a rough estimate of themaximumyou can safely spend on living expenses for the upcoming year. Budgeting with your financial aid as opposed to a typical work income is a unique situation. By budgeting with the cost of attendance, it will give you an idea on how much financial aid you will need for the year.

Remember, financial aid is disbursed in two increments throughout the academic aid year.

Loan periods vary as well throughout the four years of medical school. Therefore, budgeting plays an important part in saving financial aid money for a whole 12 months. Saving money for after graduation is another great budgeting tip.You might not receive your pay from your residency right away.

Use themonthly budget worksheetto help you get a bigger picture of what you are spending.

Helpful Links