Wondering how to negotiate financial aid for medical school? Here’s how I did it:
April 19th, 2021. 8:20 AM. That’s the date and time I sent an email to the financial aid office at my top choice medical school. I humbly inquired if they had more financial aid to offer me to make the feasibility of attending more realistic.
One day later they replied with a big fat no.
Ten days later I received a call from the assistant dean of admissions offering me a full ride scholarship.
So, as a first year med student I obviously can’t say for certain if the email I sent is the reason I was offered the scholarship. It sure does seem like it could have been the influencing factor though!
So who knows if I would currently have a full ride scholarship if I didn’t send it!
And there definitely HAVE been students who sent a “negotiation email” that resulted in a more immediate yes. So while these emails hold no guarantee I believe they are SO worth trying if you’re in the right situation to send one!
That’s why I’m SO excited to share my advice and experience on this topic! The only way that I knew how to ask for more financial aid for medical school in the first place was others before me sharing their experience! So I’m pumped to do the same so we can have aaaaall the info we need to get MORE money and LESS debt! 😅
This post is all about How To Negotiate Financial Aid For Medical School
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How to Negotiate Financial Aid for Medical School
What to Keep in Mind When Negotiating Aid
There is no guarantee
Medical schools only have so much money to give for grants and scholarships. Just because you ask for a scholarship and tell them you really want to go there, doesn’t mean you’ll magically receive one.
Be Humble and Honest
You should be willing to drop other acceptances and attend that school if they give you aid! Don’t send an email to five schools and tell them all they are your top choice school.
Why does it matter? If you ask for aid at a school you don’t plan to attend and actually get an offer, then you are robbing another student of that offer and it could be their dream school.
Put in the work ahead of time to know what your *top choice school is if money were no option* and only try to negotiate aid to that one school.
Be Realistic
Even if you receive NO grants or scholarships from any schools you get into, you will STILL be able to pay for medical school. With very few exceptions (like being an international student for example) medical schools will provide you loans to fully cover the cost of tuition and living expenses.
Scholarships are amazing, but you don’t need them to be able to go to the med school of your dreams. You’ll obviously have debt, but you’re also going into a high paying career. You also still have other options like peace corps, the military, and so many other programs if you want your loans paid for.
I highly suggest giving this short blog post a read. Most of the links are out of date, but it’s great advice on putting in the work and taking control of your financial situation as a student.
Don’t Lie!
Don’t try to leverage more aid by saying you got into X school or got X amount from another school if it isn’t true. Then you’re just putting your acceptances in jeopardy and that is so not worth it.
It May Be Risky?
I don’t personally believe this, but here’s some things I’ve read:
- “Only do this IF you’re willing to risk your spot at that school.” (SOURCE)
- “Don’t negotiate unless getting the additional money is the ONLY way you’d be able to feasibly attend the school” (SOURCE)
- “Some students will tell school “A” what school “B” has offered, in hopes of getting more financial aid out of school “A.” Whether that strategy works or backfires partially depends on how hard you push the schools. If you truly believe school “A” could do better, then you might try negotiating. Keep in mind, however, that your strategy may sour your relationship with that admissions officer.” (SOURCE)
Here’s my personal opinion (I’m not the expert obviously so take this with a grain of salt… or even less than that). I feel like it doesn’t hurt to ask and I wasn’t worried that a school would rescind my acceptance just because I politely asked if I could receive more aid.
So take that as you will. I say just follow the advice above, be humble & honest, and GO for it. It could be the difference between thousands of dollars of debt.
When to Ask for More Aid
The most important thing related to the logistics of how to negotiate financial aid for medical school is knowing when to ask for more aid. Here are two important dates that I used to decide this:
April 15th: Students must narrow their acceptances to 3 schools (you can still remain on waitlists of other schools)
- Many schools also told us on interview day that this was when to expect to receive our financial aid packages (i.e. how much federal loans we would be able to take out each semester, how much need based aid we would receive, scholarships, etc.)
April 30th: Students narrow their acceptances to ONE school (you can still remain on waitlists of other schools)
I wouldn’t really know the true difference in cost of each school until I received the financial aid packages. Which is why it didn’t make sense to do anything before April 15th.
I figured I would wait until that date to see if I received any more scholarship offers or need based aid. If I didn’t receive anything other than just loan money from my top choice schools I would then send an email to the one I hoped to attend the most.
As you might be realizing, they really put you between a rock and a hard place if you have more than 3 acceptances. It is NO fun withdrawing from school you really liked when you still aren’t sure about the financial side of things.
I HIGHLY suggest making it your mission to visit the schools you are interested in well before April and talking 1-on-1 with current students at each school. This way you have an easier time narrowing down to 3 choices when you have to.
Takeaway
- Wait until April 15th so you know your full financial aid package
- Take a day to calculate how much loans you’ll have to take out for each school
- If your top choice school is financially out of reach for you, consider sending an email between April 15th – 20th to inquire about more aid
Who to Actually Send the Email To
Every school is different and you will likely know who to send an email to after interview day! Most schools will have a financial aid talk during the interview day. Be sure to write down the name and email of the person that gives this talk.
If you don’t meet anyone specific like that then just send it to the general financial aid office!
What to Say When Negotiating Financial Aid
Alright, now we you know when to reach out and who to reach out to. It’s time to talk about what to say!
Templates to Negotiate Financial Aid
Example #1
“Dear Dr. _____,
Thank you so much again for the chance to matriculate at University of _______. I couldn’t be happier or more excited to have this opportunity!
As I make my final decisions for medical school, obviously cost is one of the factors I am considering. While I absolutely love your school, the X College of Medicine has actually offered me a full tuition scholarship (see attached). While tuition costs is certainly not the only factor determining my decision, I wanted to understand where I stood for potential financial aid/scholarships at University of ______. I’d love to discuss more with you over the phone or even in person soon!
I hope to hear from you. Thank you again!
Student”
(SOURCE)
**Credit to examples 2 and 3 goes to Passport Admissions (website here). I received these in one of their newsletters with tips on how to negotiate financial aid for medical school and that’s what I used to formulate my own email! I also used this company for mock interview prep and had a great experience plus their blog has tons of helpful advice.
Example #2
Dear [Admissions Director Name],
Thank you for accepting me to [School Name] last [month you were accepted]. I am truly humbled by the opportunity to advance medicine at [School Name], and ever since my interview day, [School Name] has thoroughly impressed me with its collegial environment, curriculum, and mission. It is undoubtedly my top choice program.
However, I am writing today with a humble request. My family will be helping to pay for my tuition cost, and it would be a huge relief for my conscience if there was anything that could be done to extend the scholarship further. If funds are limited, I completely understand, but even a difference of *[monetary sum] over four years would be more than enough for me to wholeheartedly sign my name.
Thank you so much,
[Your Name]
AMCAS ID: [Your AMCAS ID]
*[monetary sum] should be modest, like $10,000-$20,000 per year
Example #3
Dear [School Name] Admissions,
Thank you for accepting me to [School Name] last [month you were accepted]. I am truly humbled by the opportunity to advance medicine at [School Name], and ever since my interview day, [School Name] has thoroughly impressed me with its collegial environment, curriculum, and mission. It is undoubtedly my top choice program.
I understand that many scholarships have already been allocated, but I wanted to provide a qualifier that I hope your committee will consider. I have received a scholarship from [Other School Name] which makes my four-year tuition at [School Name] nearly [monetary sum] more than it would be at [Other School Name]. I would really like to attend [School Name] for my medical education, but the cost of attendance is *[a personal concern], which makes it extremely difficult for me to turn down this other offer.
I humbly recognize that I am in no way entitled to a scholarship, but any assistance that the scholarship committee might choose to provide would make a decision to matriculate at [School Name] much easier.
Sincerely,
[Your Name]
AMCAS ID: [Your AMCAS ID]
*[a personal concern] – make sure to specify the individual circumstances that have made this request a necessity for you
The Negotiation Email I Sent
Dear [school A] Admissions,
Attending the [school A] for medical school has been my top choice since I was accepted last November. As a reapplicant, the dream of attending medical school seemed impossible for so long and I am so grateful that it is finally happening for me this year!
I understand that many scholarships have already been allocated, but I wanted to provide a qualifier that I hope your committee will consider. I have received in-state tuition from the [school B] which makes my yearly tuition at the [school A] nearly $30,000 more than it would be at [school B]. I would really like to attend the [school A] for medical school, as I not only see myself thriving as a medical student here, but it is also a great opportunity for my significant other as well. The difference in cost of attendance though is a deep concern of ours, which makes it extremely difficult for me to turn down my other acceptance.
I realize I am in no way entitled to a scholarship and understand there are ample deserving students entering the class this year as well, but any assistance the scholarship committee might choose to offer would make our decision to matriculate here much easier.
Sincerely,
[full name]
[AAMC ID]
Final Thoughts
Alright friends, that is every piece of info and advice on how to negotiate financial aid for medical school. I am SO excited you stumbled onto this page! I wish you the best of luck in asking for and finding scholarships to pay for your medical school education.
It’s definitely on my list to start working on a solid resource for med students to find outside scholarship opportunities! Mainly because I’m still taking out loans to pay for living expenses so I’d benefit from this as well haha!
Lastly, if you end up finding success and earning a scholarship after reading this post and sending an email… PLEASE reach out and share the win with me!! I’d love to hear from you ✨
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