The road to financial aid begins with the application process. All admitted students are automatically considered for recruitment scholarships, and about half of incoming students receive a scholarship or grant, ranging from hundreds of dollars to full tuition.
Here are some of the most common questions we hear during the application process. Feel free to contact our office with more questions.
Who can apply for financial aid?
Everyone who is admitted to the University of Michigan Medical School is welcome to apply for financial aid. All admitted students are automatically considered for recruitment scholarship awards.
Are there considerations for new vs. returning students?
New students have three weeks from the date of acceptance — or March 31, whichever is later — to complete and submit the Free Application for Federal Student Aid (FAFSA) and submit all required information to the Medical School Financial Aid Office.
Applications submitted after this date are considered late and will be awarded university-administered funding based on funding availability.
Continuing students need to complete and submit their FAFSA and all other required materials to the Medical School Financial Aid Office by March 31.
Students who meet these deadlines will be eligible for full financial aid consideration (institutional and external funding) to the extent of their financial need.
This deadline allows time for students and parents to complete their tax returns so they can accurately report their annual income.
How can I apply for financial aid?
Do I have to provide parental information on my applications?
Yes. Even though as a graduate student you are considered independent, we rely on parent information submitted on your FAFSA to determine the need of each student.
If you want to be considered for all types of aid — federal as well as institutional loans and grants — you must provide parental information on the FAFSA form.
This may seem contrary to the basic FAFSA instructions, but is mandatory for Department of Health and Human Services programs (such as the Primary Care Loan and Loans for Disadvantaged Students) as well as institutional funds.
Parental information is not necessary if you are applying only for the William D. Ford Federal Direct Unsubsidized Stafford Loan and/or the GradPLUS Loan.
Even though you need to submit this information for some types of aid, we don’t expect parents to provide financial support and this information won’t jeopardize your eligibility for the William D. Ford Federal Direct Unsubsidized Stafford or Grad PLUS Loan Programs. This information is a tool to help us assess individual situations.
How is financial need determined?
The Federal Methodology formula used to determine whether you are eligible for need-based aid is:
Budget – Family Contribution (Parental Contribution + Student Contribution) = Eligibility for Assistance.
Students are advised to provide parental income information on the FAFSA for full consideration of all financial aid programs.
Although the instructions on this form indicate that if you’re a graduate or a professional student, you don’t need to provide parental information, please disregard.
Several federal programs as well as institutional programs require parental information regardless of dependency status.
When will I be notified of financial aid eligibility?
Notification to on-time applicants will begin in March.
You’ll be notified via email with instructions on how to accept, decline or change your aid through your Wolverine Access account. Wolverine Access is U-M’s student portal where you can manage your personal and account information, among other things.
It is important to notify us promptly if there is a change in your financial status, such as the receipt of additional aid or a change in your enrollment plans.
Is my financial aid renewable?
Students will need to reapply each academic year. Aid is awarded based on the new financial information you submit, as well as new financial aid packaging policies.
How much does it cost to live in Ann Arbor?
We’ve created a Guideline Budget that represents a modest but adequate cost of living for the typical med student.
If you have special budget needs you would like to have considered during the process of determining your level of available financial aid, please let us know!
What is the process for international students?
University of Michigan Medical School applicants must be U.S. citizens or permanent residents of the United States. Contact the Medical School Admissions Office with questions.
Is funding available if I want to pursue a dual degree?
Yes. Students meet one-on-one with our registrar and a financial aid counselor to be guided through the process.
What about assistance for students with a spouse and/or children?
Spouses are not covered in a student’s budget, and only in certain circumstances are expenses for dependents/children included.
Contact us if you have any questions about available assistance. Medical students with children are eligible to apply for a child care subsidy.
Are there financial aid programs available specifically for veterans?
The University of Michigan participates in the Yellow Ribbon Program, which is a match agreement between our school and the VA. The U-M Veterans Certification Department assists students with applying for their veterans’ educational benefits.
The Veterans Certification Department is located in the Registrar’s Office:
1207 LSA Building
500 S. State St.
Ann Arbor, MI 48109-1382
Is there funding for students from an underrepresented group in medicine?
The University of Michigan Medical School does not designate funds for a specific group based on race, color, national origin or sex.
Our office has extensive experience in helping students understand all of their financial aid options no matter their background, including need- or merit-based institutional and/or federal loans, scholarships and/or grants.