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Fall 2018 Financial Aid Update for the Class of 2019

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Student at Match Day

Dear Fourth-Year Medical Students:

We are a couple of weeks away from your residency applications being available to residency programs so I wanted to send a reminder about submitting expenses related to away (international) electives, ERAs and residency interviews.

ERAS Expenses

First, many of you have already incurred expenses related to ERAS, the residency application process. Last year, there were students who spent a decent amount on ERAS, depending on the number of program applications. This was a significant cost and bite out of their budget. Keep in mind, this expense is not included in the cost of attendance (COA), but our office is able to add this cost to your COA using the form on our website and submitting proof of the cost (a copy of the ERAS receipt). Doing this allows you the opportunity to borrow additional funds (most likely, for many, through the Grad PLUS Loan).

Residency Interview Expenses

Residency interview costs are also not included in your cost of attendance (COA). Depending on the number of interviews and the frequency of required interview travels, interviews may be a financial challenge. The average cost for interviewing among the Class of 2018 was approximately $4,250. The good news is we are able to add residency interview expenses to your COA through a process similar to ERAs expenses.

To submit the expenses, you must submit copy of your receipts for expenses related to residency interview travel (lodging and transportation to and from the residency interview) using the forms on our website. There is a budget adjustment form for each month of the interview season that allows you to submit interview expenses monthly or at the end of the interview season utilizing the monthly forms when the interview occurred. To allow for maximum cash flow, students last year submitted the forms monthly and they completed the interviews each month. Once again, this will allow you to borrow additionally (most likely for many through the Grad PLUS Loan).

Need a Place to Stay During Residency Interviews?

IU School of Medicine’s Alumni Association is helping students connect with alumni during the residency interview process through the Help Our Students Travel (HOST) Program. With HOST, alumni provide free housing, meals, and/or transportation for fourth-year medical students interviewing at locations across the country. By participating in the HOST Program, not only will you save money, you will also gain valuable insight into the local community and the residency program.To be matched with an alum, you must apply online. Please do so after you have confirmed dates and locations of your residency interviews.

Last year, the HOST Program hosted 74 total interviews or 61 students total. The HOST program would like to work with even more students this year.

Learn more and apply.

Below are the HOST Program cities in which we have alumni hosts. We are certainly not limited to these cities as we keep adding to the list. But we’ve had success in the cities listed below.

Anchorage, AK                  Augusta, GA                       Boston, MA                                        Omaha, NE                          Knoxville, TN

Birmingham, AL                Atlanta, GA                         Baltimore, MD                                   Mountainside, NJ             Memphis, TN

Little Rock, AR                   Honolulu, HI                       Ann Arbor, MI                                    Las Vegas, NV                    Austin, TX

Tucson, AZ                          Kailua, HI                             Grosse Pointe Shores, MI              Cincinnati, OH                   Houston, TX

San Jose, CA                       Iowa City, IA                       Grand Rapids, MI                             Columbus, OH                   Dallas, TX

Denver, CO                         Chicago, IL                           Minneapolis, MN                             Philadelphia, PA                San Antonio, TX

Washington DC                 LaGrange, IL                       Durham, NC                                        Piedmont, SC                     White River Junction, VT

Miami, FL                             Fairfield, KS                        Charlotte, NC                                     Sioux Falls, SD                    Bainbridge Island, WA

Jacksonville, FL                  Lexington, KY                     St. Louis, MO                                     Nashville, TN                      Salt Lake City, UT

Tampa, FL                            Louisville, KY                      Billings, MT                                         Chattanooga, TN              Brookfield, WI​

The views expressed in this content represent the perspective and opinions of the author and may or may not represent the position of Indiana University School of Medicine.
Author

Jose Espada

Jose Rivera Espada is the director of financial aid at IU School of Medicine, a nine-campus allopathic medical school in Indiana. Jose’s experience includes working as an assistant director of financial aid at Butler University and a financial aid coun...