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FAQs for MD Students

students studying in library

For federal student loans, applicants must complete the Free Application for Federal Student Aid (FAFSA) after Jan. 1 – the school code is 003535. To determine eligibility for institutional need-based scholarships, submit the CSS PROFILE (code 0670) and include your parents’ financial information.

There is not a separate application process for merit scholarships. Scholarship recipients are selected based on AMCAS and secondary application materials and awarded by the Office of MD Admissions.

The FAFSA must be submitted annually. The CSS Profile is submitted your first year only. If you do not require federal loan assistance, there is no need to complete the FAFSA.

No, but all financial aid applications must be completed in order to receive a Financial Aid Award Notification.

The CSS Profile is a supplemental form used to determine the contribution that a family (i.e., parents, student, and spouse if applicable) can make toward a student’s education. The analysis is used to award institutional need-based scholarships.

International students will be considered for merit scholarships with the rest of the accepted students. Submit the CSS Profile to determine eligibility for institutional need-based funding. Students can also apply for private education loans.

Since institutional aid is limited, a student who wants to be considered for need-based aid must provide parent financial information regardless of your age or marital status. This policy ensures that funds are distributed in the most equitable manner to those students with the greatest real need.

Incoming students’ awards will be mailed in mid-April to allow sufficient time to compare offers from other schools in order to make a final decision. Continuing students’ awards will be processed in May and on a rolling basis thereafter, and an online Award Notification will be generated.

The William D. Ford Federal Direct Unsubsidized loan has a fixed interest rate of 7.05% for disbursements between July 1, 2023 – June 30, 2024. Unsubsidized loans have an origination fee of 1.057% deducted at each disbursement.

The William D. Ford Federal Direct Graduate PLUS loan has a fixed interest rate of 8.05% for disbursements between July 1, 2023 – June 30, 2024. Graduate PLUS loans have an origination fee of 4.228% deducted at each disbursement.  Credit is checked; the loan may be denied if you have an adverse credit history. The credit check is good for 180 days.

1) Obtain an endorser.  An endorser is someone who does not have adverse credit and is willing to repay the loan if you do not repay it.

2) You may appeal the credit decision if you believe it was based on incorrect information or if you have extenuating circumstances.  Log into and select “Document Extenuating Circumstances. Follow directions, and Applicant Services will contact you with further instructions. You may also contact them directly at 1.800.557.7394.

Borrow only what’s necessary. Prepare an estimated budget of your expenses to determine how much you need. Unsubsidized and Grad PLUS loans begin to accrue interest right away. To decline part or all of the loan(s), email If you need the funds later in the year, you may request an amount up to your federal eligibility.

Payment is accepted in person at the Office of Student Accounts Cashier’s window located in the Baker Building. Please refer to the Student Accounts website for other payment methods.

Your financial aid award may include scholarships and/or federal loans and is for one academic year. Funds will be disbursed equally in two payments, occurring at the beginning of the academic year (in July) and one at the midpoint of the academic year (in January).

If a credit balance remains in your student account after tuition and fees have been paid, a refund will be processed. You are encouraged to sign up for Direct Deposit from your YES page; otherwise, you will receive a paper check at your local address.

The University Registrar’s Office will notify the National Student Clearinghouse that you are a full-time student once classes begin, and your loans will be put into in-school deferment. If your loans are already in repayment, send your deferment paperwork to the URO for completion.

If you are receiving a merit or need-based scholarship, the scholarship will automatically be renewed by the Office of Financial Aid as long as you are allowed to continue in the program.  No additional forms are required after the first year.  You must complete the Free Application for Federal Student Aid in order to receive student loans each year.

For the May 2023 graduating class, average medical school indebtedness was $186,717.  44% of the class borrowed.