Financial planning is a crucial part of applying to health professional schools. It is important to create a plan and make decisions about their educational expenses. Applicants are highly encouraged to budget their finances before, during, and after professional school. Applicants can apply for financial opportunities every year. Below are some steps to take in financing professional school applications.
1. Determine Professional School Costs:
- Consider the following expenses:
- Entrance Exam Prep Materials Fees
- Entrance Exam Fee
- Primary Application Fee
- Secondary Application Fee
- College Service Fee (Transcripts)
- Traveling and clothing for school interview Fees
- Professional School Cost of Attendance/Tuition
- Moving Expenses
- Create a budget plan. Consider all possible costs and how you will manage them through financial aid and other opportunities.
2. Learn:
- Visit UHM Financial Aid Services, to learn about financial aid basics and types, including the following:
- Grants – Aid awarded based on demonstrated financial need. Grants do not need to be repaid.
- Scholarships/Waivers – Aid awarded based on various factors such as academic achievement, athletic ability, leadership, the field of study, and/or financial need. Scholarships do not need to be repaid.
- Employment – Earned by on-campus employment Earnings do not need to be repaid.
- Loans – Funds borrowed to help pay for educational expenses. Loans must be repaid, usually with interest.
- Visit UHM Financial Literacy's website for helpful resources to learn from and worksheets to use.
3. Do:
- Regularly check your credit report with Annual Credit Report to make sure it is accurate.
- Check the National Student Loan Data System to review undergraduate and/or graduate loan records.
- Apply annually to the Free Application for Federal Student Aid (FAFSA) to determine financial aid eligibility.
- Apply the year before.
- Opens on October 1st.
- Provides funding on a rolling basis (first come, first serve).
- Research and apply for financial aid opportunities annually:
- UHM Financial Aid Services Scholarships
- UH STAR Scholarships
- College/School-, Department-, and Major-Specific Scholarships: Contact these offices for possible opportunities.
- Scholarships and grants offered by academic honor societies (e.g. Golden Key International Honour Society)
- Community Organizations, Charities, Other Non-Profit Organizations, and Professional Associations (e.g. Hawaii Community Foundation)
- Once accepted, contact the financial aid office at your professional school’s program for direct financial inquiries.
Additional Resources:
- Health Professional School Funding Opportunities
- Military Financial Aid
- UHM ASUH Graduate Test Prep Award
- UHM TRIO Mānoa: For first-generation and/or high-financial-need college students.