Financial Aid at VUSM: A co-investment in your future medical career
At Vanderbilt, you don’t have to handle medical school finances on your own.
Our Office of Student Financial Aid actively partners with you to invest in your medical school education. When you join the VUSM community, you’ll have access to:
- Institutional scholarships based on merit or need
- One-on-one counseling about wise decisions for your financial plan
- Debt management and financial wellness workshops from national experts in the field
- A veteran-friendly environment
In 2018, Vanderbilt launched the Bass Military Scholars Program, which offers scholarships of $25,000 per year to a cohort of highly talented veterans pursuing professional and graduate degrees, including the MD degree.
Some Vanderbilt students also participate in the prestigious scholarship and loan forgiveness programs offered through the U.S. Armed Forces, the Health Professions Scholarship Program (HPSP). The U.S. Department of Veterans Affairs also offers HPSP scholarships to later work at a VA medical facility like the Veterans Affairs Medical Center at Vanderbilt.
When Taylor Robinson (M3) first researched potential medical schools, he looked for institutions with ample resources for financial aid and scholarships. Vanderbilt offered tuition assistance and scholarship opportunities for him to mitigate loan debt. But he didn’t realize just how many resources existed until he connected with the VUSM Office of Student Financial Aid.
“They’ve just been really great about being quick to communicate back and coordinate opportunities,” Taylor says. “[Vanderbilt] is really great about taking the stress off of that aspect of education for us.”
With the help of the Office of Student Financial Aid, Taylor found books and other scholarships to help plan his financial future in addition to a stipend and tuition coverage through the VA Health Professions Scholarship Program. Students encounter personal expenses beyond financing their degrees, and Taylor was able to reduce his monthly costs by around $1,000 through help from VUSM Office of Student Financial Aid.
“Really pay attention to those emails from the financial aid office,” he advises. “Each of those emails I find really valuable and helpful, even some of the books they recommend and have for free for us. I learned a lot about managing my personal finances through that first year.
“I’m very grateful for the financial aid office for making that possible and for giving us the tools to search for and try – believing that there are other ways than just getting a full ride to knock down some of the mountain.”
Here at Vanderbilt, financial aid goes beyond paying for your degree. The Office of Financial Aid connects you with resources to help you think broadly about your personal money management for lifelong success.
Resources for your Financial Wellness
During your medical school journey at Vanderbilt, you’ll have access to these key resources for managing your financial path:
- AAMC FIRST
This service provides crucial information about paying for medical school, managing your finances during your education, and identifying loan repayment options after degree completion.
Each year, we host a range of financial wellness workshops where you can network with financial aid experts and medical professionals.
Workshops address key questions like:
- How do I locate a trustworthy financial adviser?
- What should I look for in disability and life insurance?
- What do I need to know about buying a house during medical school?
- How should I start planning for retirement now?
- Could I be eligible for public service loan forgiveness?
- Will I be able to pay back some of my loan during residency?
Our office also hosts open sessions where you can bring your own questions to the financial aid expert.
Vanderbilt remains committed to helping medical students reduce personal debt, offering workshops and counseling to address debt management.
Paying for medical school can be complex, but help remains present during your time at VUSM. To learn more about the unique culture of financial wellness at Vanderbilt, visit our Office of Student Financial Aid.