AAMC Financial Aid and Medical Education Costs 2

Question 1

What is the annual Grad PLUS loan limit for medical students?

Accepted Answer

Up to the cost of attendance after other aid

Answer

Grad PLUS loans allow medical students to borrow up to the full cost of attendance minus any other financial aid received, with no fixed annual cap.

Question 2

What percentage of US medical students graduate with education debt?

Accepted Answer

Around 70%

Answer

According to AAMC data, approximately 70% of US MD graduates carry education debt at graduation.

Question 3

What is an Income-Driven Repayment (IDR) plan?

Accepted Answer

A plan that bases monthly payments on your annual income and family size

Answer

Income-Driven Repayment plans set monthly federal loan payments as a percentage of discretionary income, which can reduce payments to manageable levels during residency.

Question 4

Which AAMC tool helps students estimate their medical school debt and future repayment obligations?

Accepted Answer

MedLoans Organizer and Calculator

Answer

The AAMC MedLoans Organizer and Calculator helps medical students and residents organize their loans and project future repayment scenarios.

Question 5

How does the armed forces Health Professions Scholarship Program (HPSP) benefit medical students?

Accepted Answer

It pays full tuition, fees, and a monthly stipend in exchange for military service after graduation

Answer

The HPSP covers full tuition, fees, and provides a monthly stipend for medical students in exchange for active duty military service after graduation.

AAMC - Association of American Medical Colleges Practice Test

AAMC - Association of American Medical Colleges Practice Test

AAMC Financial Aid and Medical Education Costs 2