Caribbean Medical School Financial Aid
Affordable Medical Education
Competitive Tuition
The American Canadian School of Medicine (ACSOM) understands that attending medical school and becoming a medical doctor is a dream for many people. We are committed to providing a quality education centered on critical thinking, with smaller-sized classes and clinical exposure from the outset.
ACSOM offers a competitive tuition fee schedule which is approximately 20% lower than other medical schools in the region. Scholarships for academic excellence, leadership, and community service are available for those who qualify. Citizens of Dominica who are accepted to the school will receive a full scholarship for the program covering the cost of their tuition.
Projected tuition for the ACSOM M.D. degree program (per academic year)
Financial Aid
The cost of medical school should not deter great potential. That’s why ACSOM provides resources to help you build a viable financial plan to fund your medical education. Our team is here to help you!
As a nonprofit organization our focus is helping students from all economic backgrounds achieve their potential for becoming a physician. Medical school is an intense academic program which demands 100% of your time and energy. For this reason, most students find it beneficial to have a financial plan for paying the costs of attending medical school in place prior to the start of their studies. We encourage you to reach out to our financial aid office as early as possible in the application process for assistance.
ACSOM’s Financial Aid office administers the financial aid available to our students, assists them in financial planning, budgeting, and completion of loan applications, and provides students counseling regarding management of their educational debt.
You can reach us at finaid@acsom.edu.dm and 1-631-452-5579 (phone or what’s app)
FUNDING:
Most of our students fund their education with a combination of family contributions, scholarships and loans that do not have to be repaid until after the student finishes his or her studies. Understanding the costs associated with attending ACSOM is the first step to building a financial plan. Our counselors offer you one-on-one sessions about understanding the Cost of Attendance and creating this plan.
Currently, the school is seeking approval from educational lenders, banks, and government loan programs with competitive terms for our students. In the interim, ACSOM is offering several ways to help reduce your family contributions.
ACSOM PRIVATE EDUCATION LOAN
This is a private education loan sponsored by the American Canadian School of Medicine which at this time is only available to U.S. and Canadian students attending ASCOM at least half time. The terms and conditions of this loan are very competitive with other governmental and private education loans available to medical students and, in some cases, better than the U.S. Federal Direct PLUS loan. The loan carries a fixed rate simple interest. Repayment may be postponed until the student finishes 3 years of years of medical residency. Borrowing limits are up to the Cost of Attendance minus other financial aid. Applications for this loan are available from the Office of Financial Aid.
Estimated Cost
of Attendance
Estimated Cost of Attendance Year 1-2
$50,000 USD /year I and II
- Tuition & Fees:
$50,000/year - Living Expenses:
$17,300/year (room and board) - Two Flights:
$2,000/year - Misc Expenses:
$1,000/year - Health Insurance
$3,360/year - Total Estimated Costs
$73,660 /year
Estimated Cost of Attendance Year 3-4
$57,000/year USD III and IV
- Tuition & Fees
$57,000 /year - Living Expenses
$20,400/year (room and board) - Two Flights
$2,000 /year - Misc
$1,000/year - Health Insurance
$3,360/year - Total Estimated Costs
$83,760 /year
University Sponsored Scholarships
Applicants are automatically considered for all available institutional scholarships based on the strength of the applicant’s file and potential to contribute to our rigorous academic community. All eligible accepted students will be reviewed and awarded by the Admissions Committee; no additional application is needed.
Dominican Citizen Scholarship: Dominican students who are accepted to the school will receive a full scholarship for the program covering the cost of their tuition.
Academic Merit Scholarship: Eligible accepted students will be awarded an academic merit scholarship upon admissions committee review based on both the holistic and academic review of the file in its entirety. No additional application is necessary.
Founders Scholarship: Awarded to accepted students who represent the ideals and mission of ACSOM.
Canadian Students: Up to $53,500 in scholarships available to qualified Canadian students.