When thinking about where to attend medical school, the topic of how to fund your education most likely comes up. There is a lot to consider! We strongly encourage students to start thinking about their financial planning strategy for medical school as early as possible.
Every year our Financial Aid Office updates the Guideline Budget for the upcoming year. Like other public institutions, our tuition is broken down by in-state vs. out-of-state. The estimated cost of attendance for 2019-20 is $65,096 for residents/$85,176 for non-residents.
The average amount of debt upon graduation was $145,270, about $30,000 below the national average.
If you would like to be considered for need-based aid (including need-based scholarships) you must complete our school's Financial Aid application no later than February 15. All admitted students are automatically considered for Admissions scholarships--no application required!
Yes. If you would like to be considered for all types of aid, including need-based grants and need-based scholarships, you and your parents will need to complete the Free Application For Federal Student Aid (FAFSA) by February 15.
All admitted students are automatically considered for Admissions scholarships--no application required! To be considered for all other need-based aid, students must complete the University of Michigan Medical School's Financial Aid application and the FAFSA (including parental information) no later than February 15.
Yes. All scholarships offered to incoming students are automatically renewed for four years as long as you remain in good academic standing.
Yes, we do offer institutional loans, however the amount and eligibility is determined on a case-by-case basis. Students apply through the regular financial aid application process. No additional loan application is required. The Financial Aid Office identifies students who may qualify.
Our best advice is to create and follow a budget. We update our Guideline Budget every year to help you anticipate and plan for expenses. Your Financial Aid Counselor can suggest a number of resources to help you get started in managing your money in medical school.
No, not through the Financial Aid Office.
Our medical school program will demand a significant amount of your time, which may make part-time work not possible. However, taking on a side job is not expressly forbidden.