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Financial Aid and the MD/MBA Program 2011-2012

Financial Aid and the MD/MBA Program 2011-2012. Students are enrolled both as MD and MBA students once accepted and now have single student identification number. Students complete both programs and receive both degrees in 5 years. Uniqueness of MD/MBA. 5 Year MD/MBA Schedule.

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Financial Aid and the MD/MBA Program 2011-2012

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  1. Financial Aid and the MD/MBA Program 2011-2012

  2. Students are enrolled both as MD and MBA students once accepted and now have single student identification number. Students complete both programs and receive both degrees in 5 years. Uniqueness of MD/MBA

  3. 5 Year MD/MBA Schedule

  4. Federal law allows for higher yearly Stafford loan maximums for health professions programs (MD) than graduate programs (MBA) although the costs are similar. MBA program has limited scholarships/fellowships to help with the difference. Challenges

  5. 6 years of curriculum/living expenses for the cost of 5 to total a savings of a full year ($55,000 approximately). Opportunities

  6. Estimated Budget MD $33,000 tuition/fees/yr $19,000 living expenses/yr* =$52,000/yr X 4 years =$208,000 MD/MBA $33,000 tuition/fees/yr $19,000 living expenses/yr* =$52,000/yr X 5 years =$260,000 *Approximation based on living on campus in Verano Place (FY 10)

  7. MD $8,500 Subsidized $30,00 Unsubsidized $38,500/yr X 4 years =$154,000 MBA $8,500 Subsidized $12,000 Unsubsidized $20,500/yr X 1 year =$20,500 Federal Stafford Loan Maximums 5 yr MD/MBA=$154K + $20.5K = $174,500total maximum Stafford federal loan Federal Graduate Plus loans, grants and scholarships to cover remaining eligibility

  8. $ 12,000 max scholarship + $174,500 max Stafford Fed loan = $186,500total in aid MBA Faculty Scholarship Maximum

  9. MD/MBA $260,000 budget -$186,500 aid (max) =$73,500minimum gap over 5 years (can use grant funds, Federal Graduate Plus loans or out of pocket) Minimum Difference in Cost

  10. Minimum Difference in Cost MD $208,000 budget -$154,000 aid (max) =$54,000 minimum gap Federal Graduate Plus loans or out of pocket

  11. $73,500 MD/MBA (5years) $54,000 MD (4years) =$19,500 more of a gap Minimum Difference in Gap

  12. Grant funds are limited and are awarded to those students with need AND who meet the deadlines. Important dates: March - FAFSA deadline for academic year May – Deadline for any requested documents for academic year Why Deadlines Are Important

  13. Best resource for students: On-line financial aid file at www.ofas.uci.edu personalized student information available School of Medicine Contact: (949) 824-4605 Paul Merage School of Business Contact: Alda Ruggiero (949) 824-7967 arguggier@uci.edu Where to go for Assistance

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