Deciding to enroll in naturopathic medical school is a life-changing choice. Whether you are a recent college graduate or have been working in another career, the more prepared you are financially, the easier the transition will likely be to student life. Naturopathic medical school is a rigorous, four-year program with many similarities to conventional medical school in terms of both class content and demands on the student’s time.
While the prospect of paying for medical school can be daunting, there are many funding sources available. It helps to talk to a financial aid officer at the school you would like to attend. They are available to counsel future ND students on their options and to help you create an individualized plan to pay for your education. Having a financial plan in place before starting school will enable you to focus on your studies.
Financial Resources at Each School
Bastyr University
Canadian College of Naturopathic Medicine – Boucher Campus
Canadian College of Naturopathic Medicine – Toronto Campus
National University of Health Sciences
National University of Natural Medicine
Sonoran University of Health Sciences
Universidad Ana G. Méndez
The United States and Canada differ in the types of student loans available, the process of applying for aid, and the various customary alternatives to government funding.
United States
Federal Student Loans
Naturopathic medical students are permitted to borrow within the same financial parameters as other health professional students, per the US Federal Direct Stafford Loan Program and the Federal Direct Graduate PLUS Loan Program.
Unsubsidized Federal Direct Loan
Students do not need to qualify for need-based assistance to receive this loan. Students must apply through the Free Application for Federal Student Aid (FAFSA) to determine eligibility. Interest accrues while the student is enrolled in school. Students can choose to let the interest capitalize, or they can make interest-only payments while they are in school. Federal student loan interest rates vary depending on the loan type and the first disbursement date of the loan. Interest rates are fixed every year on July 1 and are set by federal law.
For professional degree programs, the annual loan limit is $40,500 per academic year, and the aggregate loan limit is $224,000. For graduate degree programs, the annual loan limit is $20,500 per academic year, and the aggregate loan limit is $138,500.
Federal Direct Graduate PLUS Loans
Graduate and professional students are eligible to borrow Graduate PLUS Loans. Graduate PLUS Loans are part of the Federal Direct loan program; students are required to complete the Free Application for Federal Student Aid (FAFSA) to determine eligibility. Federal student loan interest rates vary depending on the loan type and the first disbursement date of the loan. Interest rates are fixed every year on July 1 and are set by federal law. Payments can be deferred when you are enrolled in school at least half-time. You may borrow up to the cost of your education minus any other financial aid you receive. There are no annual or aggregate borrowing limits set by the federal government. There is a personal credit check requirement for the Graduate PLUS loan.
Grad PLUS loans will be changing for newly enrolled students after July 1, 2026. Please check with the Financial Aid Department at your school for up-to-date information. https://studentaid.gov/understand-aid/types/loans/plus/grad
Special Programs
Students should inquire into possible financial aid programs sponsored by fraternal organizations, clubs, religious affiliations, etc. Alaska residents should ask about the Alaska Student Loan Program.
Private Student Loans
Private educational loans should be carefully considered. Students are encouraged to review other financial aid programs and federal student loan options to ensure students and their families are making the best decision based on their financial needs. It is the responsibility of the student to seek out a lender and apply for a private student loan. Private loans require a personal credit check and may require a co-signer. We encourage students to pay attention to interest rates, fees, loan limits, and repayment terms as these may be different than federal student loans.
Canada
Government Student Loans
In Canada, government loans are provided at both the federal and provincial level.
Federal Loans for US Students Studying in Canada
Eligible students who are citizens of the United States may apply for Direct Unsubsidized Stafford and Direct Grad PLUS Loans. An Unsubsidized Stafford loan is a federally insured student loan that is not needs-based. The maximum annual loan amount is $20,500 USD. Interest accrues on this loan while you are attending school.
US applicants, please note that the Boucher Institute does not currently participate in the US federal student loan program.
Student Loan Pros and Cons
It is important to assess both the pros and cons of using student loans to finance your education. Below are just a few items to consider before making your decision.
Pros
- Students are not required to begin repayment while attending full-time studies or until six months after stopping attendance
- Repayment options are available to graduates facing financial difficulty
Cons
- Limited amount of funding
- Post-graduation debt
Loan Programs and Financial Aid Resources
Each ND school provides beneficial information and links on its website, and experienced financial aid and admissions personnel are on staff to advise and provide students with the following:
- Available scholarships
- Student-worker options
- Financial aid requirements, applications and deadlines
- Tuition and fee information
- Local housing information and costs
- Answers to any questions and concerns
