Medical School Financial Planning Quiz

What is the average annual cost of attending a private medical school in the U.S.?

• $70,000

• $60,000

• $50,000

• $40,000

Which of the following schools covers tuition for all medical students?

• Yale

• Stanford

• NYU

• Harvard

What is a key factor in receiving merit-based scholarships?

• Community service

• Extracurricular activities

• Financial need

• High MCAT scores and GPA

What is a recommended side hustle for medical students that can also reinforce their studies?

• Bartending

• Tutoring

• Freelance writing

• Dog walking

What should be the primary focus for medical students when considering side hustles?

• Maximizing income

• Networking opportunities

• Flexibility and minimal time commitment

• Gaining work experience

Why are federal loans generally preferred over private loans?

• More flexible repayment options

• Easier to obtain

• Higher interest rates

• No credit check required

What is one way to reduce living expenses during medical school?

• Eating out frequently

• Buying new textbooks

• Living alone

• Having a roommate

What is a potential downside of being overly frugal during medical school?

• Missing out on social events

• Increased stress and unhappiness

• Poor academic performance

• Lack of study materials

What is a benefit of cooking at home during medical school?

• It saves money and is healthier

• It's less healthy

• It takes more time

• It's more expensive

What is a common mistake people make when managing finances during medical school?

• Not applying for scholarships

• Not taking out enough loans

• Spending too much on textbooks

• Thinking small expenses don't add up