Financial Aid for MD Students
Most medical students need scholarship and/or loan assistance to finance their medical education. Navigating the details of financial aid is complex. The Office of Student Financial Services, part of the Office of MD Admissions at Indiana University School of Medicine, helps current and prospective MD students access the financial resources needed to cover medical education expenses.
The Office of Student Financial Services assists students in applying for aid, administers IU School of Medicine scholarships, provides information about external scholarship and loan opportunities, and offers resources for student financial literacy. Non-MD students at IU School of Medicine may seek assistance from the IUPUI Office of Student Financial Services.
Financial Aid Eligibility
Financial aid assists medical students whose personal and/or family resources are not sufficient to meet the total cost of their medical school education. Eligibility for financial assistance is determined by evaluating the medical student’s ability to contribute to their medical education. All financial information is collected through the Free Application for Federal Student Aid (FAFSA), which must be completed each year to apply for federal loans and IU School of Medicine scholarships.
Parental contribution is considered for need-based opportunities, such as Loans to Disadvantaged Students (LDS) and scholarships and fellowships through IU School of Medicine. Answers to frequently asked questions about the FAFSA are available on the Med Student Money blog.
Cost of Attendance
The Cost of Attendance includes tuition and fees, books and supplies, and a reasonable living allowance to help cover housing, transportation and personal expenses.
All medical students have a standard Cost of Attendance based on a nine-month academic year. Third- and fourth-year medical students have an additional Cost of Attendance period for the summer term.
It is possible to personalize the Cost of Attendance to include health insurance, childcare expenses or the purchase of a computer. In the fourth year, the Cost of Attendance may include expenses for residency applications and interviews or away rotations. Any adjustment to the Cost of Attendance allows the student to borrow additional funding, generally through the Direct Loan Grad PLUS Loan.