Scholarships and Grants
Medical Program Need-Based Grant
•An applicant must be a U.S. citizen, naturalized citizen of the United States, permanent resident, eligible non-citizen, or DACA to qualify for institutional or federal financial aid.
•The application for financial aid is not a factor in the decision for acceptance to Weill Cornell Medicine.
•When accepted, financial aid is awarded only on the basis of demonstrated need.
•Need is determined by an analysis of income and assets of students and their families. We do not offer merit-based scholarships.
Financial need is determined based on the formula:
Cost of Attendance
•The Cost of Attendance includes "direct" and "indirect" costs.
•Direct costs are billable charges such as tuition, student fees, on-campus housing, health insurance.
•Indirect costs are non-billable expenses students may incur such as transportation, living expenses (food and housing), books, course materials, supplies and equipment, and personal items.
Expected Family Contribution
•Family contribution includes both the student and the parents’ ability to contribute.
•This usually includes both parents, even if they are separated or not married.
•If a student is married or has a domestic partner, information from the spouse/domestic partner is considered.
•The factors that affect overall family contribution include, but are not limited to, income, assets, family size, and the number of children in college.
•The Office of Financial Aid may make exceptions to this if your family has special circumstances. Students are encouraged to contact the Office of Financial Aid regarding any special circumstances.
Financial Need
•A student's financial need is determined after deducting Expected Family Contribution from the total Cost of Attendance.
•Financial need is met up to 100 % grant funding as of the 2019-20 academic year.
To continue to be eligible for aid, students must be in good academic standing and making Satisfactory Academic Progress according to the Guidelines for Promotion and Graduation of the Medical College, printed annually in the Student Handbook.
We do not offer merit-based scholarships.
Graduate Programs
•Need-based financial aid is not available for the graduate programs.
•New student applicants are automatically considered for merit scholarships through the Admissions application process.
International Students
•Students must be a U.S. citizen, a naturalized citizen of the United States, permanent resident, or an eligible non-citizen to qualify for institutional or federal financial aid.
•Financial aid is not available to international students.
•Students may be eligible to apply for private loans. Usually, a cosigner who is a U.S. citizen or permanent resident is required before a student is eligible to borrow a private loan. Please check application requirements prior to applying with any lender.
•International students must pay for four years of tuition in advance (current figures can be found in the Student Services Cost of Attendance breakdown).
Loans
Federal Loans
| Loan Program | Eligibility Requirements | Annual Loan Limit | Interest Rate | Loan Fees | Interest Accrual-In School | Deferment & Repayment Terms |
|---|---|---|---|---|---|---|
| Direct Unsubsidized Loan: offered by the U.S. Department of Education (ED) to help eligible students finance the cost of higher education | • FAFSA Application • Matriculated in a Degree seeking program • Enrolled at least part-time status (MD=4-credits, MS=5-credits • Meet SAP requirement- good academic standing • Complete Loan Entrance Counseling • Complete Master Promissory Note | MS Graduate Students = $20,500 MD Students= $42.722- 1st & 2nd Yr $47,167-3rd Yr $44,944- 4th Yr | 8.08% - loans disbursed July 1, 2024 to June 30, 2025 | 1.057% - loans disbursed to October 1, 2024 | Yes- Interest accrues from the day the loan is disbursed and student borrower is responsible for repayment of both principal and interest. | • Deferred while enrolled plus 6-months after student borrower graduates, no longer enrolled, or drops below part-time • Standard & Income-Based repayment from 10 to 25 years |
| Direct Graduate PLUS (credit-based loan):offered by the U.S. Department of Education (ED) to help eligible Graduate students who have reached the annual or lifetime maximum unsubsidized loan limit to cover the cost of higher education. | • FAFSA Application • Matriculated in a Degree seeking program • Enrolled at least part-time status (MD=4-credits, MS=5-credits • Meet SAP requirement- good academic standing • Credit check approval • Complete Loan Entrance Counseling • Complete Master Promissory Note | Cost of Attendance minus Other Financial Aid | 9.08% - loans disbursed July 1, 2024 to June 30, 2025 | 9.08% - loans disbursed July 1, 2024 to June 30, 2025 | Yes- Interest accrues from the day the loan is disbursed and student borrower is responsible for repayment of both principal and interest. | • Deferred while enrolled plus 6-months after student borrower graduates, no longer enrolled, or drops below part-time • Standard & Income-Based repayment from 10 to 25 years |
Private Loans
These are credit-based, market-rate loans offered by various private lending institutions to help eligible students finance the cost of higher education.
•Students are encouraged to compare lenders, interest rates, terms and conditions, and apply with a lender that best suits their needs.
•Weill Cornell Medicine does not make any private loan recommendations.
•Students apply directly with the lending institution of their choice and may use the comprehensive list found on ELM Select.
•The Private Loan annual maximum limit is student’s budget minus other aid/funding/loans received.
•Private Loan interest rates vary based on fixed and variable rate offerings as well as the borrower’s credit history and credit score.
Veteran Affairs and Military Benefits
Veteran's Educational Benefit Programs
Veterans Education Benefits (e.g. Post 9/11 GI Bill®, Montgomery GI Bill®, NYS VA Tuition Assistance) are available to eligible full or part-time Weill Cornell students who are active duty or reserve military personnel, veterans, or in some cases, the child or spouse of a veteran.
- To learn more about the Veterans Education Benefit programs, visit this website.
- Verify any remaining eligibility and/or benefit available from the VA. You will need to obtain a certification of eligibility letter directly from the VA using the website above.
- Once you receive your certification of eligibility letter, please submit the Veteran Education Benefit Request Form within LEARN to self-identify yourself as a Veteran student interested in using your education benefits. Please attach your certification of eligibility letter to your form submission.
- Once this infomraiton is received by our office, it will be reviewed. If additional information is needed, our team will be in touch with you.
- Once finalized, your enrollment will be verified for VA Education Benefits.
- A Financial Aid Award Letter will be sent to you confirming the antipacted benefit allotment* for the academic year. Payment is expected from the VA in 2-6 weeks.
*Please undertstand that if your VA allotment changes at any point in the academic year, you will be responsible for finalizing payment for any outstanding balance. The office of student accounting will help you understand the options avaialble to you if necessary. Please ensure you inform both financial aid and student accounting if you are notified of an award change by the VA.
Yellow Ribbon Program
Weill Cornell Medicine is proud to be a participant in the Yellow Ribbon Program. The Yellow Ribbon Program is a supplemental program to the Post-9/11 GI Bill®. Under this program, an eligible veteran student can receive up to 50% of uncovered tuition costs paid for by the VA with matching funds from Medical College resources. Yellow Ribbon is offered on a first-come basis.
If you have general questions concerning VA Education Benefits, please visit their website. You can also our office at finaid@med.cornell.edu if you have additional questions or concerns.
"GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government Web site at www.benefits.va.gov/gibill.”