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Applying to Residency this Cycle? Don’t Forget the New AAMC Fee Assistance Program for Residency Applicants 

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Here’s a quick reminder that the Association of American Medical Colleges (AAMC) is expanding its Fee Assistance Program (FAP) to residency applicants this year.

The good news is that if you were previously approved for the AAMC FAP, you will automatically get a 60% discount on your residency application for this ERAS season.

The bad news is that current medical students are not eligible to apply for the FAP even if they now have financial challenges that they did not have prior to medical school or if they qualified before medical school but declined to apply for the FAP benefits.

The AAMC says they are going to survey “the student affairs community” to understand “if and how” they can further expand the FAP for residency applicants.

Here is more information with some frequently asked questions.

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There’s a New and Improved ERAS Fee Structure on its Way

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The AAMC recently announced an updated fee structure for the next ERAS cycle with the goal of lowering total application costs and simplifying the current cost framework, which has been criticized for its complexity. In theory, the change should be an improvement for this year’s applicants.

Essentially, residency candidates will pay $11 per application for up to 30 and $30 per application for 31+. Of note, the structure restarts for any new specialty. So if you plan to apply to two, your costs will be higher.

The AAMC estimates most applicants will see discounts of up to 36%.

The old system was triple tiered. You can see it here. Of note, as I previously blogged about, this year the AAMC will also expand their Fee Assistance Program to include some residency applicants, a first.

You can see the new ERAS fee structure in graphic form here.

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The AAMC Will Expand the FAP to Include Some Residency Applicants

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The American Association of Medical Colleges has announced that they will expand their Fee Assistance Program to certain residency applicants starting with the 2024-5 ERAS application season. At that time, the FAP will include residency candidates who were previously approved for the program during their medical school application process. The qualifying candidates will receive a 60% fee discount on up to 50 ERAS applications. This is great news for medical students who have severe financial needs. The AAMC reports that it will be providing more information in the following months.

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AAMC MCAT Prep Workshop – November 8

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The AAMC is offering a free webinar “Preparing for the MCAT® Exam” on November 8 at noon PST/3 PM EST. They’re publicizing that the session will include tips for creating a study plan, low-cost prep resources, a demo of their free MCAT Contact Outline Course, and time to ask questions. You can register here. (You will need to create a free AAMC account if you don’t have one.)

As an aside, if you believe you qualify for the AAMC Fee Assistance Program (FAP), make sure to apply for it early. This year’s deadline is December 8. The FAP covers the MCAT, but the grant is not retroactive.

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Medical Debt Can Be Crushing

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I recently saw a short piece in US News that reported that the average debt among medical school graduates who borrowed for their medical education was $184,000, excluding undergraduate loans. 

There are many reasons to think hard about a career as a physician, and monetary ones are first or second on the list. For those with severe financial need, the AAMC offers their Fee Assistance Program (FAP). (Please note that I also offer a discount for those who have a current FAP grant.)

Most applicants, however, don’t qualify for the FAP and may be looking at hundreds of thousands of dollars of debt after they complete their medical education. For many reasons, make sure that a career as a doctor is the right one for you.

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About Dr. Michelle Finkel

Dr. Michelle Finkel

Dr. Finkel is a graduate of Stanford University and Harvard Medical School. On completing her residency at Harvard, she was asked to
stay on as faculty at Harvard Medical School and spent five years teaching at the world-renowned Massachusetts General Hospital.
She was appointed to the Assistant Residency Director position for the Harvard Affiliated
Emergency Medicine Residency where she reviewed countless applications, personal statements and resumes. Read more

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