Health insurance and loans

Hi everyone,

I have a question on loans and health insurance. My husband is a stay at home dad, so I am currently the bread winner. The only way for me to go to med school is via loans. We don’t mind living cheap/student-housing, but a) will I be able to take out enough loans to cover tuition and living expenses (we don’t have any debt) and b) what happens with health insurance? Right now, my family is on mine, provided through my employer.


Med schools require that their students carry health insurance and offer coverage through a commercial insurance provider that has various plans like all commercial insurance, including ones for families. If I recall correctly, undergraduate programs require this for full-time students and also offer health insurance.

Good to know - thanks! I am working while doing under grad, so me and family are on employer plan.

Loan info …


Federal loans. Many of the same federal loan options available to you as an undergraduate are still an option for attending medical school. Just fill out a new FAFSA application as an independent student to determine your financial aid need. You can borrow up to $20,500 ($8,500 of which can be subsidized) and the loan carries a 6.8 percent interest rate. You can also file for a Grad PLUS loan, which allows you to borrow up to the cost of education minus any other financial aid. The Grad PLUS loan carries an 8.5% interest rate.

Private Loans

Medical school loan: If federal aid is not enough, you can cover some of the cost with a private medical school loan, which allows you to borrow up to the cost of attendance. The annual maximum is $45,000. Click here to apply.

Medical residency loan: Those pursuing a career in a certain type of residency program might find themselves facing costs not usually covered in financial aid award packages. A medical residency loan will cover expenses related to medical board exam prep, and even relocation. This is a one-time loan in which you can borrow up to $20,000. Click here for more information.