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 Direct Unsubsidized Loan
Direct Unsubsidized Loan is a federal student loan offered by the U.S. Department of Education (ED) to help eligible students finance the cost of higher education.
Eligibility Requirements
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
Annual Loan Limit
MS Graduate Students = $20,500
MD Students (1st Year & 2nd Year)= $42,722
MD Students (3rd Year & Extended Curriculum)= $47,167
MD Students (4th Year)= $44,944
Interest Rate
8.08% - loans disbursed July 1, 2024 to June 30, 2025
Loan Origination Fee
1.057% - loans disbursed prior to October 1, 2025
Interest Accrual-In School
Yes- Interest accrues from the day the loan is disbursed and student borrower is responsible for repayment of both principal and interest.
Deferment & Repayment Terms
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
For additional information regarding Federal Student Loans, please visit Federal Student Aid.
Federal Direct Graduate PLUS Loan
Direct Graduate PLUS Loan (credit-based) is a federal student 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.
Eligibility Requirements
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
Annual Loan Limit
Cost of Attendance minus other financial aid
Interest Rate
9.08% - loans disbursed July 1, 2024 to June 30, 2025
Loan Origination Fee
4.228% - loans disbursed to prior to October 1, 2025
Interest Accrual-In School
Yes- Interest accrues from the day the loan is disbursed and student borrower is responsible for repayment of both principal and interest.
Deferment & Repayment Terms
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
For additional information regarding Federal Student Loans, please visit Federal Student Aid.
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 are available to eligible Weill Cornell students who are active duty or reserve military personnel, veterans, or in some cases, the child or spouse of a veteran. Learn more about the veteran education benefits program by clicking on the program links below.
Post-9/11 GI Bill® - Chapter 33: provides education and training benefits if you’ve served on active duty after September 10, 2001.
Yellow Ribbon Program: Weill Cornell Medicine provides assistance to pay for tuition and fees that Post-9/11 GI Bill® does not cover. This is a supplemental program for eligible veteran student after the Post-9/11 GI Bill® annual maximum is exhausted.
Montgomery GI Bill® Active Duty (MGIB-AD) - Chapter 30: provides education and training benefits if you’ve served at least two years on active duty.
Montgomery GI Bill® Selected Reserve (MGIB-SR) - Chapter 1606: provides education and training benefits to members of the Army, Navy, Air Force, Marine Corps or Coast Guard Reserve, Army National Guard, or Air National Guard.
Survivors’ and Dependents’ Educational Assistance - Chapter 35: provide education and training benefits to the children or spouse of a Veteran or service member who has died, is captured, or missing, or is permanently and totally disabled due to a service-connected disability.
Veteran Readiness and Employment - Chapter 31: provides support to veteran that have a service-connected disability that limits your ability to work or prevents you from working. In some cases, your family members may also qualify for certain benefits.
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 website.
Veteran's Educational Benefit Programs- Application Process
Step 1: Admissions
Admitted and deposited students may begin the VA application process
Step 2: SSN or Tax ID Requirement
Log into LEARN →Financial Aid Billing→ New Student Onboarding Form: complete and submit U.S. Social Security Number or Tax ID Number Information form
Step 3: Contact Office of Financial Aid
Identify yourself as a Veteran student interested in using your education benefits for VA requirements to be generated on your student record
Step 4: Apply and Receive Certificate of Eligibility from VA
VA Form 22-1990: For Chapters 30, 33 (Post-9/11 GI Bill®), 1606 and 1607, Montgomery GI Bill, Montgomery GI Bill Selected Reserve or Veterans’ Educational Assistance Program.
VA Form 22-5490: For Chapter 35 Survivors’ and Dependents’ Education Assistance or Chapter 33 FRY Scholarship.
Additional Veteran Resources: For Chapter 31- Veteran Readiness and Employment and Chapter 36- Educational and Career counseling.
Step 5: Apply for Other Financial Assistance at WCM (optional)
Institutional Need-Based Funds: MD students are encouraged to apply for Institutional Need-based funds by completing FAFSA Application, CSS Profile, and provide all required documentation.
Step 6: LEARN→NetPartner-Financial Aid Portal
Upload required documents for VA Benefits Review Process
- WCM- Veteran & Military Services Certification Request Form
- VA Certificate of Eligibility
- DD214
Step 7: When to Expected Payment
Your VA benefits cover tuition, fees, and health insurance at WCM. In most cases, funds will be sent directly to the college after the start of classes.
Financial Aid Award Offer will be sent confirming the anticipated benefit allotment.
Payment is expected from the VA in 2-4 weeks after college certification process.
*Please understand 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 available 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.
Click Here for PDF VA Financial Aid Checklist!
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 website.