Basic Financial Aid Information for MPH Students
The estimated Cost of Attendance (COA) shown below represents direct charges and indirect expense allowances for full-time students attending Vanderbilt School of Medicine for the 12-month academic year 2022–23.
Tuition $41,997
Student Services Fee $681
Student Health Fee $846
Transcript Fee $100
Books/Supplies $750
Rent/Utilities $17,214
Meals $8,750
Personal/Miscellaneous* $7,486
Travel $2,035
Loan Fees** $891
*Includes allowance of $291/mo. for health insurance
** Average loan fees incurred by similarly classified borrowers during the previous academic year
Tuition and fees are subject to change until approved by the Board of Trust in April.
★ An account will be established through the Office of Student Accounts (vanderbilt.edu/stuaccts) for each student attending Vanderbilt. This office is responsible for billing tuition and fees and receiving all payments, including student loans disbursed by the U.S. Department of Education. All students are automatically enrolled for e-bills. You may grant e-bill access to others through the YES landing page (yes.vanderbilt.edu).
★ Students will be billed for one-half each of tuition and fees on Aug. 1 and Jan. 3. The student will be responsible for payment of all charges not covered by financial aid as shown on the Vanderbilt student account e-bill. Payment must be received by the due date to avoid late fees.
★ Financial aid, including scholarships and/or federal loans, is disbursed at the beginning of each semester and will be applied first to your Vanderbilt student account charges. If a credit balance remains after tuition and fees have been paid, a refund will be processed. You are strongly encouraged to sign up for direct deposit from your YES page. Please allow 7–10 business days for the banking setup.
★ Participation in the Vanderbilt-sponsored health insurance plan is mandatory unless the online insurance waiver is submitted by Aug. 1, 2021, with proof of comparable coverage. More information about the student health insurance, including the waiver, can be found at vanderbilt.edu/stuaccts/insurance/health-insurance.php.
★ If you will receive an outside scholarship, you are required to inform the Office of Student Financial Aid by emailing us at medfinaid@vanderbilt.edu. Please include the scholarship documentation. Scholarship checks must be sent directly to our office for processing.
★ Your Vanderbilt email account is the preferred method of communication that our office and other medical school and university offices will use to correspond with you. You can access your Vanderbilt email once you have been assigned a VUnetID.
★ The University Registrar’s Office will notify the National Student Loan Clearinghouse of your continuing full-time student status in mid-September, which in most cases will eliminate the need of a deferment form while in school. However, students who received educational loans while attending another institution may need to submit a deferment form to the lender if your loans are near, or in, repayment. Deferment paperwork should be sent to the URO at university.registrar@vanderbilt.edu for completion.
★ Students should monitor their credit annually and can do so for FREE at annualcreditreport.com. This site allows you to request a free credit report once every 12 months from each of the national consumer credit agencies: Equifax, Experian and TransUnion. During the COVID-19 pandemic, you can check these reports weekly.
★ The Family Educational Rights and Privacy Act (FERPA) of 1974 protects the privacy of a student’s educational records, including financial aid and billing/account information. Please contact our office for the appropriate release forms if you wish to authorize disclosure of this confidential information to a spouse, parent(s) or other third party.
LOAN OPTIONS
Student loans fall into two categories, federal and private, and there are advantages and disadvantages to each loan type. The AAMC offers unbiased guidance for borrowers: https://students-residents.aamc.org/financial-aid-resources/federal-vs-private-education-loans Before deciding to accept a loan, carefully read and understand the loan terms and decide which loan is right for you.
FEDERAL DIRECT UNSUBSIDIZED LOAN
Federal loans are subject to the oversight of, and regulation by, the federal government. If you are interested in borrowing funds, we recommend that you first consider the Federal Direct Unsubsidized Loan. If you have not already done so, you will need to complete the Free Application for Federal Student Aid (FAFSA) so that we can award the maximum eligibility of this loan. You must complete the online Entrance Counseling module, sign the Unsubsidized Master Promissory Note, and complete the Annual Student Loan Acknowledgement at studentaid.gov before the loan will disburse. The current interest rate is fixed at 5.28%. A loan origination fee of 1.057% will be deducted from each disbursement. Interest will accrue during in-school, grace and deferment periods. Repayment begins six months after the last date of attendance. The maximum eligibility is $37,167 per 12 month academic year.
FEDERAL DIRECT GRADUATE PLUS LOAN
The Graduate PLUS Loan allows you to borrow up to the full Cost of Attendance (COA) minus other financial aid received. Eligibility is not based on financial need, but you will have to pass a credit check. You should use all of the Federal Direct Unsubsidized Loan before applying for the Grad PLUS Loan. To accept the Grad PLUS Loan you must complete the PLUS Request Process and sign a PLUS Master Promissory Note at studentaid.gov. The current interest rate is fixed at 6.28%. A loan origination fee of 4.228% will be deducted at each disbursement. Interest will accrue during in-school, grace and deferment periods. Repayment begins six months after the last date of attendance.
PRIVATE ALTERNATIVE LOANS
Private loans, sometimes referred to as “alternative loans,” are offered by private lending organizations and are managed and backed by private banks. Because banks are not subject to the same rules and regulations as federal loans, we recommend that these loans be used only to the extent necessary after other payment options are exhausted. Loan interest rates, borrower qualifications and payment conditions will vary among the lenders. The maximum amount a student may borrow is the Cost of Attendance minus other financial aid received. Private loans are available to international students, but most lenders require a creditworthy U.S. co-signer. For a list of lenders, please visit vu.edu/privateloans.
For questions regarding need-based financial assistance, merit-based scholarships, and/or educational loans, please contact:
Office of Student Financial Aid
224 Eskind Biomedical Library and Learning Center
615-322-1792
Office Hours: Monday–Friday, 8 a.m.–4:30 p.m. (CT)
Web: medschool.vanderbilt.edu/financial-aid
Email: medfinaid@vanderbilt.edu