MedPath

Financial Services > MedPath

MedPath is a postbaccalaureate enrichment program aimed at making students more competitive for and successful in medical school.  For more information about the program, please visit the MedPath website.

Estimated Program costs for the 2007-2008 school year:

Scholarships

Many students who apply and are accepted into the program are awarded a full-tuition and fees scholarship. All students interested in the MEDPATH Program must first apply to the Ohio State University College of Medicine (COM) through the American Medical College Application Service (AMCAS) by the November 1st deadline.  

Those students who meet the minimum criteria for the MEDPATH Program will be referred for consideration by the COM Admissions Committee. Once referred by the Admissions Committee, potential MEDPATH participants will be sent a letter and application form directly from the MEDPATH Program. 

In order to be considered for scholarship funding, it is strongly encouraged that you apply by the deadline noted on the MEDPATH application form. Those students who apply for MEDPATH by the established deadline will receive a letter a few weeks after applying notifying them of their eligibility for scholarship funding.

Loans

Regardless as to whether or not you are awarded the full-tuition and fees scholarship, you will still need to consider how you will pay for your living expenses and student health insurance. Those students who are already covered by private health insurance and will be able to maintain it while enrolled in the MedPath program, may be able to waive out of this expense. Please review the student health insurance website above for information on the waiver.

If you are unable to pay out-of-pocket for these expenses, you will want to consider student loans. For those students who do not receive a scholarship, they will want to include the cost of the tuition and fees as well as living and insurance expenses when determining their need for loan funding.

By completing the FAFSA form, dependent students can qualify for up to $5,500 and independent students can qualify for up to $12,500 in federal loans. The interest rates and terms on these loans are usually better than most other types of loans. Therefore, we strongly encourage students to complete the FAFSA form to qualify for these loans before considering other types of loans.

Students can begin filing the FAFSA form starting January 1st of each year for the upcoming school year. We strongly encourage students to complete this form by March 1st so their loan funding will be available at the start of their program.

Student’s who submit their FAFSA form by the March 1st deadline, will receive their financial aid award letters in mid-May showing the amount of federal loans being offered to assist in paying expenses for the upcoming school year. If after reviewing your award letter you determine that additional loan funding is needed, you will then want to consider a Parent PLUS loan or a Private Bank Educational loan.

The biggest differences between these two loans is that the Parent PLUS loan is a loan taken out by the parent whereas the Private Bank Educational loan is take out by the student. The other major difference is the interest rate on these loans. The Parent PLUS loan offers a fixed rate whereas the Private Bank Educational loans have variable rates. For the 2007-2008 school year, the interest rate on the Parent PLUS loan is 7.9%. To determine the interest rates on the Private Bank Educational loans, you will need to contact a bank of your choice to inquire. To apply for the Parent PLUS loan, please go to http://www.dlenote.ed.gov/ and complete the master promissory note. Also, you will need to complete the application for this loan.

Important Information about obtaining in-state residency for Medical School

If you are an out-of-state student, you will NOT be able to obtain in-state residency if you receive financial assistance from anyone outside the state of Ohio. Therefore, if your parents take out a Parent PLUS loan to help you pay any expenses during your MedPath year, you will NOT be able to obtain in-state residency during your first year of medical school which will result in a higher tuition expense!!! This does not apply to the Private Bank Educational loans as the loan is in the student’s name.

Important information about completing the FAFSA form

When filing your FAFSA for the MedPath program, please reply to the following questions with the following answers:

Question (23): What degree or certificate will you be working on…Answer: Other/Undecided

Question (24): What will be your grade level… Answer: 5th year/other undergraduate

Question (49):..will you be working on a master’s or doctorate program…Answer: No

If you fail to answer the questions above in this manner, there will be delays in processing your FAFSA and therefore your ability to receive loan funding for the summer quarter. 

Also, when completing the FAFSA form if you are instructed to include parent information, then it MUST be included to process your financial aid!!! The FAFSA form determines whether or not a student is “dependent” or “independent” based on the questions you answer.