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Medloans- have some questions...

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  • Medloans- have some questions...

    Can someone explain Medloans to me? My dh is going to med school next year and we are trying to figure out how to pay for it best. I currently SAH with 2 little kids, so eventhough I could work it wouldn't make a lot of sense because we would be paying all that $$ for daycare. I see that the Medloans is up to $220,000- is that for everybody? DH will likely go to a state school with low tuition costs, but we need living expenses, etc....
    Another question I have is.....if we are kinda poor (like living off loans) will we qualify for government aid specifically WIC, child care assistance, or Medicaid? How do we get health insurance?
    Sorry for all the Q's, this is all very new!

  • #2
    Just a few thoughts...
    If you want to work...you can include child care expenses as part of your loan request. And don't forget that child care up to a certain amount is a tax write-off.

    Qualifying for Medicaid, etc will depend on the state you live in and their elegibility requirements. I would suggest looking into your state's SCHIP (State Child Health Insurance Plan) as these plans tend to have looser asset and income limits than Medicaid. Some SCHIPs cover pregnant moms and sometimes parents can also get insurance through them. In a lot of cases, you can also get health insurance through the medical school -- or at least your spouse will be able to.

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