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 and shares the latest expected budget for the following year. Like other public institutions, our tuition is broken down by in-state vs. out-of-state. The estimated cost of attendance for 2017-18 is $60,630 for residents/$80,194 for non-residents.
For the Class of 2016, the average amount of debt upon graduation was $126,633, about $40,000 below the national average.
Yes, if you would like to be considered for financial assistance you must complete the University of Michigan Institutional Application for Financial Aid no later than February 15. All admitted students are automatically considered for merit scholarships--no application required!
Yes. If you would like to be considered for need-based grants and 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 merit scholarships--no application required! To be considered for all other financial aid, students must complete the University of Michigan Institutional Application for Financial Aid and the FAFSA 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 do not apply for these loans, but rather the Financial Aid Office identifies students who may qualify.
Our best advice is to create and follow a budget. We update a 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 med 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.