Frequently Asked Questions

Financial Aid

  • What types of financial aid are available?
    Financial aid may consist of federal, state, institutional, or private sources. It may be in the form of loans, scholarships, grants, awards, or provided by a third-party such as veterans benefits. Funds are awarded to help students meet their educational expenses including tuition, books/supplies, and living expenses.
  • What scholarships does the medical school offer?

    The medical school annually offers merit- and need-based scholarships to MD degree seeking students that are awarded by the Student Scholarship Committee. All applicants and current students are considered for WMed merit-based scholarships, which do not require any application. The Free Application for Federal Student Aid (FAFSA) is required for consideration for WMed need-based scholarships.

  • Should I apply for financial aid?
    Students who do not have sufficient resources to attend medical school should apply for financial aid. Students are sometimes hesitant because they did not receive financial aid as an undergraduate student, or are uncertain about the income and asset criteria that must be met. There is no adverse impact to applying, and students can decline all or part of an aid offer if alternate personal resources become available. Students must complete the application process annually, so they can decide each year whether to accept an offer of aid.

    Applicants must meet the following general eligibility requirements to receive financial aid:

    • Have a Social Security number
    • Meet satisfactory academic progress standards
    • Be a United States citizen or an eligible non-citizen
    • Not be in default on any state or federal grant or loan received at any institution
  • What application forms should I complete?
    All applicants and current students should annually complete the Free Application for Federal Student Aid to be considered for all possible types of aid.
  • In addition to the annual FAFSA application, are other forms or documents required?

    MD students applying for need-based aid may need to submit IRS tax transcripts, signed copies of federal tax returns, W2 forms or other proof of income for each individual whose income information is reported on the FAFSA.

    Students submitting a FAFSA may be selected by the federal processor for a process called “verification.” If selected, our office will notify students via email to submit proof of income or other documentation to confirm information reported on the FAFSA.

  • Are there deadlines by which financial aid forms and documents should be submitted?

    Yes. The priority deadline for the FAFSA and requested documents is no later than February 1. For students admitted after February 1, the deadline to submit the FAFSA is two weeks from the date of admission.

    Federal student loan offers must be accepted and all loan requirements completed no later than 1 month prior to the beginning of the academic year in order for the funds to disburse by the scheduled date.

  • Are there any penalties for applying after the priority date?

    Institutional funds are limited and the Office of Financial Aid processes completed applications in the order received. Institutional funds may be awarded to late applications if funds remain after the review of all applications received before the priority deadline.

    Students may be expected to pay all tuition and other charges by posted payment due dates if their financial aid application is not complete at the time payments are due.

    Processing of all financial aid, including requests for additional loan funds, must be completed prior to the last day of the academic year. If a loan increase is needed, students should apply at least one month before their last day of classes to ensure that there is adequate processing time.

  • How is my financial aid eligibility determined?

    Consideration for financial aid may be based on merit, financial need, or other demographics. Donor-supported named awards may require additional information to determine eligibility for award criteria, according to the award requirements.

    All MD applicants offered admission and all continuing full-time MD students are considered automatically for WMed merit-based scholarships - no application required! Applicants are considered on the basis of their entire medical school application, and continuing students are considered on the basis of their entire record in medical school including academic performance, citizenship, and leadership.

    For need-based scholarships, a "Student Aid Index" (SAI) is calculated from income and other information provided on the FAFSA. The calculation uses a federal methodology approved by Congress and passed into law. An applicant's financial "need" is the difference between the Cost of Attendance and the amount of the calculated SAI:


  • How much financial aid do I qualify for each year?
    The maximum amount of financial aid from all sources cannot exceed the annual Cost of Attendance.
  • How much can students borrow in loans each year?
    Students may borrow up to the annual Cost of Attendance minus other aid (such as merit- or need-based scholarships). There are also annual and aggregate (life time) maximums in the federal Direct Loan programs which are listed on our Loan Programs page.
  • Can I adjust my loan after it disburses?
    Yes, requests for reasonable increases or decreases are made by completing the Loan Revision Request form and submitting it to within the deadline for each term.
  • What is the interest rate on federal student loans?
    The interest rate on federal student loans is a fixed rate and is determined by the date of the first disbursement of the loan. You can determine your interest rate at
  • Am I required to have health insurance? Where can I purchase health insurance if I do not have coverage?

    You are required to carry health insurance that provides coverage for preventive, diagnostic, therapeutic, and mental health services beginning at the start of courses and continuing until graduation. You may satisfy the health insurance requirement with annual documentation of health insurance coverage that meets the Essential Benefits requirements of the Affordable Care Act (ACA) under a parent plan, partner plan, or separate individual/family health insurance plan.

    If you do not have existing coverage, you may obtain individual/family health insurance coverage from:

    • The government healthcare exchange; or
    • Medicaid insurance

    The cost of health insurance may be added to the Cost of Attendance upon request.

    The medical school provides students with disability insurance and professional (malpractice) insurance.

  • What if the amount of financial aid I receive is not sufficient to cover all of my educational expenses?
    In some circumstances, a student may have education-related expenses (such as uninsured medical/dental expenses, emergency travel home, or emergency car repairs) not accounted for in the Cost of Attendance. On a case-by-case basis, a student may submit an Appeal for a Budget Increase to the Office of Financial Aid. If approved, the Cost of Attendance will be increased and the student will then qualify for additional aid.
  • Is my tuition refunded if I leave the medical school?

    Students must obtain prior written approval from the associate dean for Student Affairs to withdraw or take a leave of absence to be eligible for a partial credit of tuition according to the following schedule. All unpaid, non-refundable charges, such as for electronic books, lost or damaged medical school property, excessive photocopying, or other charges, must be paid in full before any tuition is refunded.

    100% refund of tuition within 7 days of the start of class for the term 75% refund of tuition within 14 days of the start of class for the term. 50% refund of tuition within 21 days of the start of class for the term. 25% refund of tuition within 28 days of the start of class for the term.

    There is no refund of tuition for withdrawal after 28 days of the start of the term unless an exception is made by the associate dean for Student Affairs due to extenuating circumstances.

  • What is the average education debt for medical student graduates?

    Education debt includes pre-medical and medical school debt. 

    WMed Class of 2023
    Percentage with Medical School Debt 85.5%
    Mean (indebted only) $274,194
    Median (indebted only) $299,362

    Below is education loan indebtedness for the Class of 2022 published by the Association of American Medical Colleges (AAMC) in October 2022. More information can be found on the AAMC website at

    Class of 2022 Public Private All
    Percentage with Medical School Debt 73% 68% 71%
    Mean (indebted only) $194,558 $222,899 $205,037
    Median (indebted only) $193,000 $224,000 $200,000