Medical College of Wisconsin Financial Aid and Tuition

How to access Financial Aid Forms/Award Information/Appointment Resources for Continuing Students (PDF)

Federal Aid Application (FAFSA)

The Financial Aid Office receives your results electronically. The FAFSA typically opens in October; visit FAFSA® Application | Federal Student Aid for more information or availability.

FAFSA: School code 015611

If the FAFSA is completed prior to December 1, document status will be updated in MCWconnect on or after December 1. If the FAFSA is completed on or after December 1, document status will be updated within three business days after form submission.

Financial Aid Application (FAA)

This Financial Aid Application (FAA) will be accessible through MCWconnect or this link. Form link is specific to continuing MSA, Pharmacy and Medical students only. If you are a Graduate Student (Grad School) this form is not required.

Need-based Institutional Aid Requirement (MD PROGRAM ONLY)

The Parental Assistance Worksheet (PAW) is student initiated and will be accessible through MCWconnect or this link.

Parent(s) will need to create a Dynamic Forms account to complete their portion of this form, if they have not done so already in the current/previous academic year. Directions provided below:

View instructions on how to create a Dynamic Forms account (PDF)

Private Loan Application

Obtain directly from lender of choice. Do not complete prior to April 1 or the application will expire before certification and a new application will need to be completed.

You are free to use any lender of your choice. To view a list of historical lenders, please review MCW’s FastChoice Site.

Verification Form
If you were selected for identity verification by the U.S. Department of Education, our process at MCW is a 2-step process:

1. Complete the Identity Verification (V4/5) Worksheet. You will need to upload images of the front and back of your government issued ID (i.e. drivers license) before submission.
2. You are required to bring your government issued ID to the Financial Aid Office in person. The Financial Aid Office will send you a link to schedule a time to provide this documentation in person. If you do not complete Step 2, your funds will not disburse until this requirement is satisfied.

Authorization for Non Directory Information
If you want any financial aid information to be disclosed to any other person (i.e. parent, spouse, landlord, etc.), you will be required to fill out a Authorization for Non Directory Information form. Please contact the Registrar’s Office for this form.

Citizenship or Eligible Non-Citizenship Documentation
If you are required to provide verification of your citizenship status, our process at MCW is a 2-step process:

1. To be eligible for file review and receive a financial aid offer, complete the Citizenship Verification form. You will need to upload an image of your citizenship documentation before submission. Examples of citizenship documentation can include the following: passport, certificate of naturalization.
2. To be eligible to receive a disbursement, you are required to bring that same citizenship document you uploaded to the Financial Aid Office in person. If you do not complete Step 2, your funds will not disburse until the requirement is satisfied. 

Wisconsin Residency Determination (MD program only)
HEAB form processing can take several months. If you have additional questions, more information is available on the MCW Admissions webpage under How To Apply, Required Forms.

Satisfactory Academic Progress (SAP) Appeal Form

Letter of Appreciation
An email will be sent with the link to the requirement that you will need to complete.

Processing will begin in September. Deadline for all additional funds requests is February 1.

Allowable expenses include:

Other Expenses: computer, test prep, car repair, medical

Away Elective and Rotation Expenses (required away electives only. Applies to MD Regional, MSA students)

Residency Interview Expenses: for students requesting additional federal loan funds to cover this expense
*Students who wish to borrow a private loan instead of federal loans for Residency Interview expenses can view the private loan lender choices for Residency Interviews-Medical Students here.

Additional Expenses–Request for Funds Form
Utilize this form if you would like to use additional federal loans to cover the allowable expenses listed above.

Childcare Expenses: Student will initiate form. Childcare provider will need to create Dynamic Forms account to complete their portion of the form.

Additional Expenses–Childcare Request for Funds Form
Utilize this form if you would like to use additional federal loans to cover childcare expenses.

Direct Loan Information

Federal Direct Unsubsidized Loan Program
The Federal Direct Unsubsidized Loan is a non-need-based loan obtained through the U.S. Department of Education. Qualified students can borrow up to an annual maximum, determined by how many months are in their school year. There is no interest subsidy under the Direct Unsubsidized Loan program and repayment will begin 6 months after you are no longer enrolled at least half time.

Federal Direct Graduate PLUS Loan
You can borrow up to the total cost of attendance at MCW minus any other financial aid you receive. There is no interest subsidy on this loan and repayment will begin 6 months after you are no longer enrolled in school on at least a half time basis.

What’s New for 2026-27: We are working to understand the changes and awaiting further guidance from the Department of Education on various topics. As things currently stand, the Grad Plus loan will not be an option for incoming students or continuing first time borrowers starting in 2026-27 as Congress has eliminated the program. There are legacy provisions written in to protect current borrowers. There is no requirement regarding the amount of Grad PLUS loan borrowed. As a result, if you stay on track to graduate, we do not anticipate any major changes for current borrowers.

Current Student Interest Rates (FSA website)

Private Educational Loan Programs

Private Educational loan programs have various interest rates, loan amounts, fees, etc. based on the lender. To view a list of historical lenders, please review MCW's FAST Choice site. You may qualify for loans or other assistance under the Title IV, HEA programs. The terms and conditions of the Title IV, HEA program loans may be more favorable than the provisions of the private education loans.

Emergency Loan

MCW offers emergency loans to approved, registered students in need of temporary funds. Students do not need to be aid recipients to qualify for an emergency loan.

Maximum Amount
Students meeting the criteria noted above may apply for emergency loans by contacting the Office of Student Accounts. Students are eligible for one emergency loan per term. A term is defined as July 1-December 31 and January 1-June 30 each academic year. The graduate school also has a summer term, defined as mid May-mid July of each year. The maximum amount that can be outstanding at any time under the Emergency Loan Program is $2,000 per term.

Repayment
If students have applied for other financial aid (federal or institutional) through the Financial Aid Office, the emergency loan will come due within fourteen days of these aforementioned funds disbursing or after 90 days, whichever is first. If the student has not applied for other financial aid funds, the loan will come due after 90 days. Emergency loans will be interest-free for the first 90 days, after which interest will accrue at the rate of 12% annually.

Any outstanding emergency loans must be paid back upon leave/withdrawal. Students will not be allowed to register for a new academic year until their loan and accrued interest are repaid.

Students who become delinquent on an emergency loan will have a hold placed on their account. If they have not yet done so, they will not be able to register for the next academic term until the loan and accrued interest are paid. All outstanding emergency loans due to MCW must be paid for students to receive their diploma.

Institutional Scholarships

Merit-based scholarships
MCW has a very small number of merit-based scholarships to aid qualifying students in the School of Medicine and/or School of Pharmacy. All students offered admission are eligible for merit-based scholarships if they meet the criteria of a specific scholarship and complete the application. Students who are offered merit-based scholarships will be contacted directly by the Scholarship Committee. The Graduate School currently does not have any merit-based scholarships. The Scholarship Committee will continuously evaluate students following matriculation during their course of study for eligibility for institutional merit-based scholarship opportunities.

Need-based scholarships
Students who are eligible to participate in the federal financial aid program (Title IV) are eligible to apply for need-based scholarships through the Financial Aid Office. Please refer to the “How to Apply” section above for the necessary forms. Only complete and timely applications are considered. All students who complete all forms for need-based aid are automatically considered for the available scholarships. No additional steps are needed to apply. Institutional need-based aid may include scholarships and/or loans.

The federal eligibility requirements are located on the Federal Student Aid site. For institutional need-based aid purposes, students must be eligible to participate in the federal financial aid program, not just be able to submit a FAFSA.

Outside Scholarship and Grant Resources

During your scholarship search, be sure to apply to only reputable companies and organizations. You should never pay to apply for a scholarship. You should never pay anyone to search scholarships for you.

Look for local opportunities in your city at rotary clubs, churches, social organizations, parent’s employer, sports clubs or professional associations, etc.

• FinAid
• College Board Scholarship Search
• College Resource Network
• College Scholarships.org
• Fastweb
• Hispanic Scholarship Fund
• Indian Health Service Scholarships
• United Negro College Fund
• American Association of University Women (Greater Fox Valley)
• Wisconsin Area Health Education Centers

Other State Grants

If you are a resident of a state other than Wisconsin, please visit the FinAid! - The SmartStudent Guide to Financial Aid website.

1. When did you complete the FAFSA?
   • It can take up to 72 hours for the FAFSA to process. If it has been longer than 72 hours see #2.
     
     
2. Log on to fafsa.gov.
   • Which year did you complete? Verify what year you filed. Did you add our school code - 015611? Verify the correct school code was added. If the above are verified on fafsa.gov, see #4.
     
     
3. Did you use your legal name on both the FAFSA and MCWconnect?
   • The name, DOB & SSN much match for the records to match & process. Log on to MCWconnect and fafsa.gov to verify the information entered matches in both systems.

If all of the above have been verified and are correct, please send a screen shot of the completed FAFSA with the year & school displayed along with a screen shot of your name in MCWconnect to finaid@mcw.edu.

All students who want to borrow federal loans must complete Loan Entrance Counseling.

Learn more about Loan Entrance Counseling

Obtain a copy of your 1098-T Tuition Statement Tax Form on the TAB Service Company 1098-T website.  The Medical College of Wisconsin Site ID is 11428.

Learn More

All students new to MCW must complete a Direct Student Loan Master Promissory Note to borrow from that program and a Direct Grad PLUS Master Promissory Note to borrow a Grad PLUS loan. These promissory notes (loan agreement)are also included. 

Learn More

The Financial Aid Office is under Federal regulations when it comes to developing a student budget. We obtain budget information from surrounding colleges, check with the bookstore and faculty regarding required books as well as rent charged by landlords in the area. Every year we conduct a Financial Aid Budget Survey of the students and we review this information to determine if budget allowances need to be adjusted.

To view your federal loans online, visit StudentAid.gov. You will use your FSA ID to log into this website.

You can also view your loan information on your servicer’s website. If you do not know who your servicer is, this information can be found by visiting StudentAid.gov.

Learn more at StudentAid.gov

If you have extenuating financial circumstances, you need to bring this to the attention of the Financial Aid Office. You should also try to reduce your costs and/or seek financial help from parents or relatives.

View the AAMC Student Budget Template resource (PDF)

The Office of the Registrar submits each student’s enrollment status to the National Student Clearinghouse approximately every 30 days.  Lenders retrieve the enrollment data directly from the National Student Clearinghouse.  The Office of the Registrar will verify enrollment for new students only after the start of classes. Please contact the Registrar with further questions.

At this level, you are considered an independent student, regardless of whether your parents claim you as a dependent for tax purposes. If your parents will be contributing any money towards your tuition or living expenses, you are required to report that amount to us on the Financial Aid Application.

Medical Students: If you wish to be considered for institutional aid, you will need your parents to complete and sign the Parental Assistance Worksheet. 

Medical Students

Funds for living expenses will be delivered via direct deposit within two weeks of your classes starting each semester. Please make sure you have entered your bank information on the MCWconnect.

Actual disbursement dates will vary depending on your bank.

In order to borrow any Federal Loan funds, you must schedule an appointment with a financial aid counselor.

In order for incoming students to receive funds during the first week of classes, you must have completed your master promissory note and entrance counseling.

Graduate Students

Loans for all Graduate Students are disbursed after the add/drop period for each term.

The student contribution is calculated based on the results of your FAFSA. If you do not have part or all of the contribution listed, you can replace the student contribution with loan funds. You are allowed to replace it with either funds from Federal Direct Unsubsidized Loan or Federal Direct Grad PLUS Loan (if you qualify). You would need to speak with a counselor to replace the student contribution with loan funds.

MCW does not participate in Federal Work Study.

View MCW's statement on federal work study (PDF)