Dollar$ and $ense Newsletter MD Students
November 2023
News to Know
2024-2025 FAFSA Available December 1
If you plan on using Federal Direct Unsubsidized and/or Federal Graduate PLUS Loan funds during the 2024-2025 academic year (July 1, 2024 – June 30, 2025), you will need to complete the 2024-2025 FAFSA. Please be aware that the 2024-2025 FAFSA will be available in December as the Department of Education implements the new simplified FAFSA.
2024-2025 Housing Guide Survey
We are launching a short, anonymous survey to obtain information about current students’ housing experiences. This information will be included in a housing guide created by VeryApt, a startup in the real estate technology industry, and made available to all admitted and current students to help them locate housing that best suits their needs.
Students are asked to complete the following survey:
Please take a few minutes to share your insights with the next generation of students and your own classmates. Let us know if you have any questions and thank you in advance for your participation.
Scholarship Opportunities
Student Federal Government Loan Repayment Assistance
The Health Resources & Services Administration’s National Health Service Corps (NHSC) Students to Service Loan Repayment Program offers medical, physician assistants, dental, and nursing students in their final year of school loan repayment assistance in return for service in a community of need.
The NHSC is accepting applications for the Students to Service Loan Repayment Program (S2S LRP) through December 7, 2023.
Awarded students may receive up to $120,000, in addition to a competitive salary and benefits, for three years of full-time service in communities with limited access to quality health care. Students may also choose to serve part-time for six years. For more information regarding eligibility and application requirements please visit the S2S LRP website.
Medical Society Scholarship Opportunities
Four Medical Societies in Massachusetts offer scholarships to students enrolled in an M.D. program in Massachusetts. Deadlines and amounts for the scholarships vary. Please see the website for each society for more information: Suffolk District Medical Society, Charles River District Medical Society, Essex South District Medical Society, Middlesex North District Medical Society, and Norfolk District Medical Society.
Massachusetts Medical Society Scholars Award Application Now Available
Every year, the Massachusetts Medical Society’s Medical School Scholars Award Program awards $10,000 to two students selected as MMS Scholars. Awards of $1,000 each will be granted to students who achieve finalist status.
Graduating medical students are invited to apply for this Award Program by completing the application attached. Please review the following application in full for more information about this opportunity, and follow the instructions as outlined to apply for consideration. Only applications will all materials included and completed can be considered, and please note that the letters of support should come to Student Affairs directly from letter writers, not from students themselves.
All applications must be submitted to Nichole at ngcicca@bu.edu by January 11th, 2024 to be reviewed by Student Affairs.
Kaiser Permanente Northern California (KPNC) Scholarship Application Open to M3’s
The 2024 KPNC Scholarship of $2,500 (plus $5,000 travel stipend) is available to current third-year medical students who are interested in seeking a residency in Kaiser Permanente Northern California. The application is now open until November 30, 2023. For more information including the application please visit the KPNC Scholarship page.
NEOMED Accepting Submissions for William Carlos Williams Poetry Competition
Submit your poetry to the annual William Carlos Williams poetry competition, sponsored by Northeast Ohio Medical University (NEOMED)! The competition will accept submissions until December 31, 2023. For submission details, eligibility criteria, and to submit online, please visit NEOMED’s William Carlos Williams poetry competition webpage. Contact wcw@neomed.edu with any questions or for additional information.
Medical Scholars Research Fellowship (MSRF) at Physician-Scientist Support Foundation (PSSF)
The Physician-Scientist Support Foundation (PSSF) is now accepting applications for its Medical Scholars Research Fellowship (MSRF) program.
The MSRF Enables medical students to pursue laboratory-based biomedical or data science in addition to their medical school training. The MSRF aims to fund medical students for a full year of rigorous basic research, and to mentor them toward a physician-scientist career.
Application deadline is January 11, 2024. PSSF will host an informational webinar about the MSRF program on November 14, 2023, 2 PM. If you like to join the webinar RSVP by contacting MinLee@thepssf.org.
Application Cycle Opens for Medical Scholars Research Fellowship (MSRF)
OVERVIEW OF THE PROGRAM: The PSSF Medical Scholars Research Fellowship (MSRF) provides research opportunities and mentoring to students who aspire to become physician-scientists and are dedicated to making fundamental discoveries that improve health. The MSRF is a key component of PSSF’s mission to revitalize, grow, and support the career pathway for physician-scientists. The fellowship supports one year of mentored, rigorous research training in fundamental biomedical research. All applicants must be nominated by the medical school dean. The medical school dean can nominate only one applicant in any competition year.
STIPEND AND ALLOWANCES: For the 2024-2025 fellowship year, the total amount awarded to each Medical Student Fellow is $50,000. The annual stipend is $42,000. In addition to the stipend, the award includes an allowance of $8,000 for health insurance and travel expenses.
The application deadline is January 11, 2024. Detailed information about the application can be found here.
Check out our Scholarship Page for Other Opportunities
Our Scholarship page includes BU and BUMC specific scholarships, school-specific scholarships, various service-based scholarships such as the National Health Service Corps (NHSC) and Military Health Professions Scholarship Programs, and scholarship search sites.
Financial Fitness 101: Building Your Financial Foundation Slides Available
Financial Fitness 101 introduces students to budgeting, understanding basic credit, managing living expenses, and provide tips, resources, and hints on ways to save money during college and improve your overall financial wellbeing. These sessions were held throughout October for students in the BUMC community. You can find the slides, links, and resources provided during the workshop at Financial Fitness 101 Presentation.
Take charge of your financial health on your own time with Kindros
SFS is excited to announce Kindros, the online financial knowledge center developed for BUMC students. This interactive platform covers everything from budgeting to retirement and includes readings, quizzes, planning tools, and additional resources. Check it out and let us know if there are features or content you would like to see!
Federal Student Loan Repayment and Interest Rate Updates
The Department of Education’s student loan repayment pause and temporary 0% interest rates have ended – interest accrual resumed on September 1 and Federal loan repayment resumed on October 1. Further information and FAQs can be found on the Federal Student Aid website’s announcement on Coronavirus and Forbearance Info for Students, Borrowers, and Parents.
Please be aware that while currently enrolled at least half-time you do not need to make payments on your student loans; however, interest has started to accrue on Federal loans. You can find a summary of your Federal student loans and interest rates by logging into the StudentAid.gov website.
Questions?
Speak with SFS!
We have Zoom virtual office hours available to all BUMC students throughout the week. Stop by Student Financial Services in suite B-401 in the Robinson Building where you can meet with an SFS staff member in-person Monday through Friday. You can also reach us by phone at 617-358-6550.
Outside Financial Literacy Resources
MoneyGeek, founded financial industry veterans in finance and content marketing, is leading the charge to simplify personal finance. A myriad of financial concerns are addressed on the site, including financial planning, planning for college, student loan repayment, expenses associated with living in a big city, insurance, credit cards, mortgages, and more.
AccessLex Financial Education Resources
SFS has partnered with AccessLex, a non-profit that offers free financial education programming and resources to help students and graduates manage their finances and loan repayment. We recommend you check out the recording of AccessLex’s webinar, The Road to Zero: A Strategic Approach to Student Loan Repayment. You can also set up a free 1:1 meeting with one of their Accredited Financial Counselors to discuss your specific loans and repayment strategies.
AAMC FIRST Webinars
AAMC has an ongoing series of webinars and workshops created specifically to provide medical students with financial resources for your time during and after medical school. For a list of upcoming webinars you can visit the AAMC FIRST site.
Reduce Your Internet Bill
The Affordable Connectivity Program (ACP) can provide a discount of up to $30 per month towards internet service for students and families who may qualify. Those who currently receive SNAP benefits qualify for the ACP. Other eligibility requirements and the application can be found on the Affordable Connectivity Program (ACP) website.