For those PMing me about finances, I will be honest with you. UMKC is a HECK of a lot of money. Starting from Year 1 in the Fall, you are classified as a School of Medicine student and thus charged at the Medical School rate from the beginning even though most of your classes are undergraduate courses. If you extend, that is one more year in tuition and fees. If you were an out-of-state student, you signed an agreement in your acceptance papers that you agree to pay out-of-state fees for all 6 years or longer (I don’t know if this is still true).
Also, the first 2 years for financial aid purposes - you are classified as an “Undergraduate” and the last 4 years you are classified as a “Professional” (Grad).
Monetary Decisions for Medical Doctors: [AAMC:</a> (MD)2- Monetary Decisions for Medical Doctors](<a href=“http://www.aamc.org/students/financing/md2/start.htm]AAMC:”>http://www.aamc.org/students/financing/md2/start.htm)
Changing your Residency status (if you qualify): [University</a> of Missouri - Kansas City Admissions Office](<a href=“http://www.umkc.edu/admissions/06residency.html]University”>http://www.umkc.edu/admissions/06residency.html)
Cashier’s Office: [UMKC</a> Cashiers Office - Fee Structure](<a href=“Cashiers Office | Cashiers | University of Missouri - Kansas City”>Cashiers Office | Cashiers | University of Missouri - Kansas City)
Scholarships: [UMKC</a> Financial Aid and Scholarships Office :: Scholarship Opportunities](<a href=“http://www.sfa.umkc.edu/site/index.cfm?page_id=scholarships&st=n]UMKC”>http://www.sfa.umkc.edu/site/index.cfm?page_id=scholarships&st=n)
Research scholarships to see which University scholarships you would qualify for as a six-year BA/MD student. Many UMKC scholarships have criteria excluding UMKC med students from applying. See how much financial aid you will get from the FAFSA.
See here: <a href=“http://www.med.umkc.edu/med_admissions/images/fees09_10.jpg[/url]”>http://www.med.umkc.edu/med_admissions/images/fees09_10.jpg</a> and calculate how much tuition, room, and board would be for 6 years. Realize this does not include the increase in tuition annually due to inflation.
Make sure you are ENTIRELY comfortable with the amount of loans you are willing to carry for attending the UMKC program. Even if you end up leaving or failing out, bc of the speed of the program, you will still have to pay back those loans.
As far as getting a loan now, I don’t know how hard it is to get one now (as I got mine when the economy was still good) or the interest rate you would be charged as that is decided by the bank (based on your credit), and with the way things are looking in the economy (it has been like this since about Aug/Sept 2008), banks are less likely to extend credit and increase lending of money for anything, even if it is an education.
However, do your homework and research, so you know how much you and your parents will be forking over, how much in loans you will be taking and how much interest will accrue, as well as how long it would take you to pay off all your loans after residency (as you most likely will not be able to pay anything with a resident’s salary). This is serious business - do the legwork now.