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The term financial aid, as an industry standard, includes a variety of funding sources; i.e. student loans (guaranteed
government sponsored loans, private educational loans, institutional loans), scholarships, grants, as well as work study.
Attending medical school is a serious and long term financial commitment. Many medical students need to rely on the
different types of financial aid that are available, mainly student loans.
It is recommended that all entering students contact the Financial Aid Office for entrance counseling. Funding options,
establishing a financial plan for the entire educational program; as well as what you need to do regarding any existing
student loans will be discussed.
UMHS has partnered with Sallie Mae to offer the Smart Option Student loan. The Sallie Mae loan program is a private
educational loan. This means that it is not subsidized by the federal government, nor is an approval guaranteed. The
lenders decision to approve a loan request will be based on the students or cosigners credit rating. This may also
include review of the applicants debt to income ratio.
All accepted students are automatically considered for institutional scholarship prior to matriculation. A limited number
of merit based scholarships will be granted to members of each entering class. Awards are determined by the students
academic history contained in their admissions application. No additional application is required. Those chosen will
receive an award letter via email.
Student loans cannot be approved, or certified to be disbursed, for an amount in excess of your annual Cost Of
Attendance (COA). Even if your loan is credit approved by the bank for an amount greater than your cost of
attendance, the financial aid office can, and will, only certify a maximum amount equal to that of your total cost for the
loan period in question. Consumer or other personal debt (credit cards, mortgages, rental obligations, car payments,
legal fees, etc.) cannot be included in the cost of attendance.
UMHS developed a special loan of last resort program. This institutionally funded loan program is available to U.S.
students in amounts from $1,000.00 to $5,000.00 per semester. The UMHS loan bears an 8% fixed interest rate.
Monthly interest only payments are required while the student is in school, and during the six month grace period. This
program requires a U.S. cosigner and allows repayment of principle to be deferred until 6 months after graduation.
Individualized payments plans are available for those that cant otherwise refinance the principle after the six month
grace period.
Borrowing funds to pay for educational costs is a tremendous obligation. Any loans borrowed must be repaid; regardless
of your academic or professional success. If you default, you risk ruining your credit, which will burden you for many
years. Thus, even though you may be eligible for a larger amount, we urge you to borrow only what you absolutely need
to cover your educational expenses.
The COA budgets on the next pages demonstrate realistic anticipated costs while enrolled in the University of Medicine
and Health Sciences Doctorate of Medicine program. All cost figures are based on our knowledge of a typical students
expenses to attend school and support themselves modestly, like a student, during the instructional time.
Revised 3/03/13
UMHS
Total
Tuition
$8,480
$8,480
$8,480 $25,440
$5,500
$5,500
$5,500 $16,500
Transportation
$1,125
$1,125
$1,125
$3,375
$1,400
$300
$500
$2,200
$830
$830
$830
$2,490
Personal Incidentals
$750
$750
$750
$2,250
$105
$105
$105
$315
Health Insurance
$400
$400
$400
$1,200
$18,590
$17,490
TOTAL
$17,690 $53,770
$8,480
$8,480
$16,960
$5,500
$5,500
$11,000
Transportation
$1,125
$1,125
$2,250
$500
$500
$1,000
$830
$830
$1,660
Personal Incidentals
$750
$750
$1,500
$105
$105
$210
Health Insurance
$400
$400
$800
$17,690
$17,690
$35,380
TOTAL
$13,000
$5,500
$5,500
Transportation
$1,650
$1,650
$300
$300
Personal Incidentals
$750
$750
Health Insurance
$400
$400
Liability Insurance
$350
$350
$21,950
$21,950
Tuition
TOTAL
Revised 3/03/13
UMHS
Itemized Expenses
Total
$13,000
$13,000
$13,000
$39,000
$5,600
$5,600
$5,600
$16,800
Transportation
$1,700
$1,700
$1,700
$5,100
$300
$300
$300
$900
Personal Incidentals
$800
$800
$800
$2,400
Liability Insurance
$350
$350
$350
$1,050
Health Insurance
$400
$400
$400
$1,200
$22,150
$22,150
$22,150
$66,450
Tuition
TOTAL
Total
$13,000
$13,000
$26,000
$5,500
$5,500
$11,000
Transportation
$1,650
$1,650
$3,300
$300
$300
$600
Personal Incidentals
$750
$750
$1,500
Liability Insurance
$350
$350
$700
Health Insurance
$400
$400
$800
$21,950
$21,950
$43,900
Tuition
TOTAL
* These figures are based on the Extended Basic Science program and the current tuition rates effective SPRING14 term.
Your total estimated cost of attendance is subject to change as a result of any deviation from the standard program or
changes in pricing.
Revised 3/03/13
UMHS
Tuition Costs
The fee for tuition covers the costs of classes and is charged at a rate of $ 8,480.00 for extended basic science
program semesters in St. Kitts and at a rate of $13,000.00 for clinical semesters in the U.S.. If you are a transfer
student, your actual tuition and individualized cost of attendance budget may differ.
Room and Board
Students need to budget for typical living expenses incurred during daily life; including housing, utilities and food.
Estimates provided anticipate that students will live in safe, comfortable, but modest accommodations. Costs for
housing expenses are calculated at $1000.00 per month and food allowance is included at $100.00 per week.
Transportation Fees
Expense for travel to and from the island, as well as on the island, are also included in your cost of attendance.
$900.00 for one round trip air-ticket per semester is included in the budget, as well as $15.00 per week, for
transportation expenses on the island; $50.00 per week during clinical semesters.
Books and Supplies
UMHS will provide accepted students with a list of the books and supplies to purchase for each semester. The
anticipated average cost for books and supplies is $700.00 per semester. Books for semesters 1 and 2 are typically
bought at the beginning of semester 1.
Fees
In addition to tuition, students are responsible for administrative school fees, lab fees, and student government fees
each semester. There is an $800.00 per semester charge to cover lab and administrative fees for basic science
semesters. Students enrolled in a semester at UMHS St. Kitts campus will also be charged a $30.00 student
government fee each semester.
Personal Incidentals
A $50.00 per week allowance for any miscellaneous personal expenses students may incur is also included.
Health and Air Evacuation Insurance
All students are required to have medical and emergency evacuation insurance. If you do not have coverage you will
be given the option to purchase insurance through UMHS. If you already have health insurance please be sure to
contact your provider to ensure coverage will remain effective while you are attending school outside of the U.S.
A median rate, of the school sponsored policy, is included in the COA for health insurance as well as the actual per
semester charge for air-evacuation insurance.
Liability Insurance
In order for students to participate in clinical training, liability insurance will be required while at any U.S. affiliate
school. Cost for liability insurance will be included in the tuition for each of your clinical semesters.
Graduation and post graduation expenses not included in your cost of attendance
There are may be additional fees associated with graduation ceremonies (i.e. school pins, photos, cap and gown).
Study review courses, licensing exam fees, and relocation expenses are not included in your cost of attendance.
These expenses will not be eligible for student loan use; however other resources may be available specifically
for financing these additional expenses which fall outside of your required curriculum.
Revised 3/03/13