Tuition and Fees
Costs by Program
Cost of attendance budgets are intended to cover only the expenses of the student and only the period of time the student is enrolled in an academic program. Students in academic programs or years of study that are less than 12 months in duration should have means to pay for their living expenses while they are not enrolled.
Students must budget monies for the period of time before their financial aid funds are received and a refund can be produced from their account. Generally speaking, students should plan to have three months worth of living expenses available in order to secure an apartment and purchase books/supplies. Refunds from excess financial aid will not be issued until the student has begun their studies for a particular year, all paperwork has been completed, and all financial aid funds have actually been received. First-time financial aid applicants and first year students must complete an entrance interview before loan proceeds can be disbursed to their account. The entrance interview is mandatory for all students and should be completed online during the summer before the student matriculates.
Financial aid for most programs is typically disbursed in two equal payments during the fall and spring semesters. If students are attending both the fall and spring semester, they will receive half of their total award each semester. Please remember when determining your budget for living expenses that loans must be repaid with interest. It is to your advantage to keep expenses as well as borrowed amounts as low as possible. These are your future earnings that you are pledging. Keep careful records of your loan portfolio and take ownership of the process from the very beginning.
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In order to assist students with budgeting expenses, the Office of Financial Aid thought it may be helpful to explain the components in detail that are built into the student's cost of attendance. We hope you find this information helpful when completing your annual spending plan.
Tuition/Fees
This reflects the current tuition and includes any mandatory fees the student will be charged.
Room and Board
This component combines these two elements on the award notice. Included in this figure is a monthly allowance for food, rent and utilities during months in which a student is enrolled. The housing allowance takes into consideration whether a student is living on or off campus per the financial aid application, the year of study and therefore the number of months the student is enrolled, and where the student will be required to live based on their program– i.e. Portland, Boston or Springfield area. There is an expectation that a student will reside with a roommate during periods of enrollment regardless of the area in which they’ll be living (Portland, Boston, Springfield, etc).
Books and Supplies
This is the average amount the Office of Financial Aid has determined the student will spend on books, supplies and equipment that are required. Books that are recommended are not included in this figure, however, students may request an increase if they feel they will need additional funds and can document what they've spent to date on required books, supplies and/or equipment.
Transportation
The Office of Financial Aid has carefully determined the average amount a student will spend on transportation costs during each year of study. This figure will vary during each year of study as MD students in their 1st and 2nd year of study are participating in CAP as well as attending classes at TUSM. MD Students in their 3rd and 4th year of study are completing clerkship requirements which may vary depending on the hospital they are at. Extensive reviews, including student surveys, provide us with an average mileage figure for clerkships which is then calculated based upon the allowable IRS mileage rate* to determine the final allowance.
In addition, we've also included a MBTA Standard Link pass and miscellaneous travel amounts when determining the final transportation allowance. Students who are driving excessive distances, unable to commute using public transportation, renting a zip car, paying tolls and/or are required to pay for parking during their clerkships, should inquire with the Office of Financial Aid to determine if a budget increase is necessary. This does not enable a student to request a budget increase for the purpose of parking at their residence.
Loan Fees
The average amount of loan fees is included in your budget. Should you be paying more loan fees than the average, you may request to have the actual figures used in place of the estimates.
Health Insurance
This figure represents the amount of the school's health insurance plan as this is a required amount that the student must pay annually if they do not have external coverage.
Personal/Miscellaneous Fees
This is the estimated amount that a student would be spending on miscellaneous expenses, i.e. laundry expenses, clothing, and necessary personal items, etc.
* IRS mileage reimbursement rates are intended to cover gas, insurance, license and registration, repairs, oil, & tires