Scholarship 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
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.
Direct Graduate PLUS Loan is a credit-based 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.
| Loan Program | Eligibility Requirements | Annual Loan Limit | Interest Rate | Loan Fees | Interest Accrual-In School | Deferment & Repayment Terms |
|---|---|---|---|---|---|---|
| Direct Unsubsidized Loan | • 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) | • 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 |
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.