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2018-2019 Residency Financial Information

Jose Espada • 5/31/18

2018-2019 Residency Financial Information

The time to apply for residency programs is quickly approaching. This process can be expensive, depending on your goal(s). The IUSM Office of Student Financial Services can help with these expenses. Not everyone will need to use this process to gain additional funding, but it is available for those who need financial assistance for ERAS expenses.

Students can submit Professional Judgment forms to our office (located HERE). This allows us to make adjustments to the Cost of Attendance (COA). By increasing the COA, we are able to process additional loan funds to cover the expense. For many, Grad PLUS Loan eligibility will be the only resource that can be increased.

Class of 2018’s ERAS expenses
Range$309 – $4,031
Average by discipline
Emergency Medicine$1,261
Family Medicine$1,593
General Surgery$3,007
Internal Medicine$1,090
Plastic Surgery$1,259

Additionally, adjustments to the COA can be made through the same process for Away Electives (domestic & international). Expenses for these largely depend on the students number of Away Electives and distance traveled. We are able to adjust the COA for transportation/lodging expenses, with appropriate receipts/bank statements highlighting the charges. The forms on our website, linked above, contain additional submission information.

If you have any questions, please do not hesitate to contact me at


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 counselor at Indiana University in Bloomington. He has served on various committees at the Association of American Medical Colleges (AAMC) as well as state and regional financial aid organizations. He speaks regularly about financing medical education at colleges and universities throughout the state of Indiana. He earned an undergraduate degree from Indiana University and worked toward a master’s degree in music education before finding financial aid as a profession. He performs regularly with small professional choral ensembles in the Indianapolis area.