Financing Your Future as a
Medical Professional

There’s a lot to consider when it comes to paying for the education you need to become a healthcare professional. At NEOMED, we aim to make it easy for prospective students to understand the cost of their degree and the financial assistance available to them.

Keep reading to learn more about financing your professional education — including the high rate of return for professional medical care providers — or jump straight to our financial aid estimator to get an estimate of what financial assistance you might qualify for at NEOMED.

Understanding Your Financial Aid Options

Paying for a graduate or professional degree in healthcare is a lot like paying for an undergraduate degree.

Starting the financial aid process is the same whether you’re pursuing higher education for the first time or you’ve already earned an undergraduate degree — first, you need to file the Free Application for Federal Student Aid (FAFSA).

FAFSA for Graduate and Professional Students

The Free Application for Federal Student Aid (FAFSA) isn’t just for students seeking federal financial aid. It’s also used by colleges and universities, professional schools and scholarship programs to contextualize your financial need. 

In most cases, graduate and professional students are considered independent students in terms of the FAFSA, meaning they aren’t required to provide their parents’ financial or tax information. However, in some cases students should include their parents information if possible to qualify for the most accurate financial consideration. The financial aid office can help you determine what information you should include.

>> Learn more about the NEOMED Financial Aid Application Process

Student Loans

If you can’t pay for your degree out of pocket, you’re not alone. More than half of all graduate students, including 84 percent of doctors in professional degree programs, take out loans for grad school. Borrowing to pay for your health professions education isn’t necessarily a bad thing. It’s an investment in your future that often has an outstanding return for NEOMED students, and there are things you can do to ensure responsible borrowing.

Experts recommend that you max out free and low-cost sources of aid, like scholarships, grants and federal loans, before turning to private lenders. Federal student loans typically have the lowest interest rates when compared to private, and include more borrower protections like repayment deferral and income-driven repayment plans.

Most students at NEOMED are able to obtain federal student loans to cover their entire cost of attendance. Plus, if you’ve already established a strong credit history, you may borrow additional loans to pay for living expenses that aren’t billable to NEOMED, like rent, transportation or groceries. Keep in mind that everyone’s financial situation is unique. You should talk to the financial aid office for information about your specific situation.

Investing In Your Future

If the idea of taking out student loans is a source of concern, it may help ease your worries to consider what you borrow for your education as an investment in your future. When you choose to invest in a high quality health professions education at a school like NEOMED, it’s realistic to expect a high rate of return.

For NEOMED programs, the return on investment is outstanding. For example, graduates from the Doctor of Pharmacy (Pharm.D.) program can look forward to a mean annual wage of around $128,000 according to the U.S. Bureau of Labor Statistics.

>> Calculate your own potential ROI — use our financial assistance estimator to determine what awards and other financial aid for which you might qualify at NEOMED.

Financial Assistance Estimator

Enter your information in the form below to find out what financial assistance you might qualify for at NEOMED.
(NEOMED is not collecting this personal data.)

Are you an Ohio resident? Select Answer $0.00
What is Your Total GPA? Select Answer $0.00

Total Estimated Cost: $38,685.00

How Does NEOMED Compare to Competitors?

As a state university of Ohio, NEOMED charges a flat tuition rate for Ohio residents, and adds on a surcharge for out-of-state students. Non-residents can eliminate the surcharge by successfully pursuing tuition residency reclassification. 

When comparing tuition. fees and financial aid offers from NEOMED to other schools, you might notice that private schools often offer larger scholarships. In many cases, those big scholarships are offered in order to offset an inflated sticker price. Because the tuition at NEOMED is already relatively low, scholarships here go farther than their counterparts at other schools, even if the total award is smaller. 

Additional financial assistance is available to students to help cover the full cost of attendance, including: housing, transportation, and miscellaneous educational expenses not billed by the university.   

Here’s how the cost* of a Pharm.D. compares to the same program at other colleges or universities. 

*Tuition & Fees are based upon 2021-2022 figures. This estimator tool is for planning purposes only. Scholarships are awarded to accepted students by NEOMED Financial Aid until funds are exhausted. Scholarship funds may be exhausted without prior notice. Tuition and fees are subject to change without notice. Tuition and fees are established annually by the NEOMED Board of Trustees. Please visit the NEOMD fee register for official tuition and fee information at https://www.neomed.edu/bursar/fee-register/ .

$27,181

   In-State Tuition & Fees (P1)   

$30,455

   In-State Tuition & Fees (P1)   

$24,418

   In-State Tuition & Fees (P1)   

$41,850

   In-State Tuition & Fees (P1)   

$38,695

Out-of-state Tuition & Fees (P1)

$30,455

Out-of-state Tuition & Fees (P1)

$37,346

Out-of-state Tuition & Fees (P1)

$41,850

Out-of-state Tuition & Fees (P1)

RECORDED FINANCIAL AID WEBINAR

Take 10 minutes and understand how to finance your Pharm.D. in this informative webinar on your financial options for pharmacy school. 

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ACCESS THE RECORDING

Get in Touch with Us Today

Are you ready to discover how NEOMED can prepare you for your future healthcare profession? Fill out the form to learn more about our programs.

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