Medical school is expensive. Do you have a solid financial plan for tuition costs while in medical school, and beyond?
The interviewers want to be assured that you will be able to afford the tuition associated with Tulane University. Medical school is an investment, and you need to be sure you can handle the financial requirements related to your acceptance. Keep your answer brief and to the point. Let the interviewers know that you have a solid financial plan for your medical schooling.
If you are interested in financial aid, the Federal Perkins Loans are granted on a need basis by Tulane. Other loan options include the Federal Stafford Loan program, which is generally a significant source of financing for Tulane University medical students. Students may borrow up to 8,500 per year of "subsidized" Stafford funds if eligible. "Subsidized" means that the federal government pays the loan's interest while the student is enrolled at least part-time. Additionally, qualified students may borrow up to 22,500 annually of "unsubsidized" Stafford loan funds. "Unsubsidized" means that the student pays the interest on the loan while in school (or agrees to capitalize the interest and add it to the principal upon repayment). Be sure to inform the interviewer if you have applied for any loans, grants, or scholarships to help finance your schooling.
"Yes, I started planning in high school and was very careful in determining how much to request in loan assistance. I worked full-time during my undergraduate career and have always been frugal with expenses. I will also be happy to utilize any financial aid/assistance available from the university. I also plan to receive and implement sound advice from others to ensure my financial plan is beneficial and current."
