A key issue in many minds when considering entering medicine is finance. This chapter should help you to become a little clearer on how finances work for medical students.
How will I pay my way through medical school?
The funding you will receive through medical school will depend upon the following:
- which UK country you live in before you enter higher education
- whether you have done a degree before
- your parental or spousal income (depending on age/circumstances).
It is important to carefully investigate what government financial support you will be eligible for, as many ‘headline’ figures are the maximum available, and subject to an individual’s circumstances. A useful first place to start would be the Royal Medical Benevolent Fund’s Finance for Medical Students Website and the relevant government website for the area where you have lived for at least three years (not including university, if you have a first degree) – known as the place you are ‘domiciled’ in.
Some medical students are entitled to receive grants or bursaries; these don’t need to be paid back. It is worth checking carefully to see if you are eligible. However, the most significant part of most medical student’s income will be the student loan.
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