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Academic and Student Services

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Financial Aid and Tuition

The philosophy of the Financial Aid Office is to assist every student who seeks financial aid, procure the necessary resources to fulfill their career aspirations, as well as become a valuable asset to society. In addition, we educate and counsel the students on the terms and conditions of the various loan programs, offer debt management strategies so that the students will know how to successfully manage their debt after graduation, and provide valuable guidance on how to live within a budget, reduce consumer debt, and streamline the financial aid process.

The philosophy of the Office of Student Accounts is to provide courteous and professional service to students, parents, alumni and the entire MCW community during the billing and collecting of tuition. We assist with counseling students on their federal and MCW-based loans in compliance with terms and conditions and encourage the students to contact our office if they experience problems or concerns with their tuition or loans during their school years and beyond graduation.

Tuition, Fees and School/Program Specific Information

  • Medical School

    Review the tuition, fees and costs for MCW's Medical School as well as additional loan, scholarship and grant information and FAQs.

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  • Master of Science in Anesthesia Program

    Review the tuition, fees and costs for MCW's MSA Program.

    Learn more
  • Graduate School

    Review the tuition, fees, budget chart and FAQs for MCW's Graduate School.

    Learn more
  • Pharmacy School

    Review the tuition, fees and costs for MCW's Pharmacy School.

    Learn more

Current Students

MCWconnectIcon 
View your financial aid, outstanding forms and tuition information. 

How to Apply

Review financial aid application requirements and deadlines.

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Required Forms

The required financial aid documents vary by program. 

Required for all programs

Forms for the 2019-2020 school year. 

Required for medical students applying for institutional aid

Required for incoming medical, pharmacy and MSA students

A clean copy of your credit report must be submitted to the Financial Aid Office by the deadline date provided with your acceptance letter. 

  • Review the Credit Report Policy (PDF) for important information
  • No Credit History Form - This form (PDF) is required only if you do not have a credit history.
Important Dates
  • Applying for financial aid: January 31, 2019, noon (continuing students)
  • Requests for additional funds: April 1, 2019 (2018-2019 year)
  • Submit your credit report: May 1, 2019 (new students)
Additional Forms

Documentation of any Additional Expenses

This is defined as expenses, other than allotted school costs, you may incur during the school year.  Acceptable expenses include costs related to childcare, car repairs or medical expenses that go beyond the budget amount (moving expenses and security deposits are not allowed). Please refer to the below documents of "What Financial Aid Can and Cannot Cover" for further information:

To request additional funds for childcare expenses, please complete the Childcare Expenses – Student Request e-form below. Please note, additional information will be requested from your childcare provider after you submit this form. To request additional funds for other expenses, please email finaid@mcw.edu with your request and include any receipts as applicable.

Consent for Release of 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 Consent For Release of Information Form. Please contact the MCW Financial Aid Office for this form.

Verification Form

If selected for verification by the U.S. Department of Education, you must complete the verification form that will be sent to you and return it to the MCW Financial Aid Office.

Permanent Resident Card (Green Card)

Please bring your green card to the MCW Financial Aid Office and we will photocopy the card for you. If you become a naturalized citizen while in school, please provide our office with a copy of your papers.

Residency Information/Forms (medical students)

Away Elective Request Form (Medical and MSA Students)

Financial Aid Appeal Form

Financial Resources

The following information is applicable to all MCW programs. Please refer to each program's webpage for program specific information. 

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Tuition Due Dates
Student Loan Information

Direct Loan Information

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.

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.

Emergency Loan
The Medical College of Wisconsin will grant Emergency Loans to full-time registered students during the academic year for a maximum of 90 days. The maximum limit of $1,000 is available and may be granted to students twice during the academic year, once during each half of the year. The loans will be interest-free for the first 90 days, after which, interest will accrue at the rate of 12% per annum. All outstanding Emergency Loans due the Medical College of Wisconsin must be paid before graduation for the diploma to be presented.

Scholarships and Grants

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.

Scholarship and Grant Resources

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.

Repayment & Debt Management

This is a list of resources for graduating students, medical residents and Medical College of Wisconsin alumni. 

AAMC Medical Student Resources

Loan Forgiveness Options

Institutional, PCL, HPSL and Perkins Loans Resources

Other Links and Resources 

Frequently Asked Questions

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I completed my FAFSA, but it is still showing as needed in MCWconnect. Why isn’t it updated?
  1. When did you complete the FAFSA?
    • It can take up to 72 hours for CPS to process the FAFSA information. If it’s been longer than 72 hours, see #2.

  2. Is your SSN entered and correct in MCWconnect? 
    • Without the SSN, the FAFSA record will not match & the file will show as needed. Verify SSN is correct. If it is, see #3.

  3. Log on to fafsa.gov.
    • Which year did you complete? (i.e. new students for 2019 will need to complete the 2019-2020 FAFSA) 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.

  4. 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.

Do I need to complete the Unsubsidized and Grad Plus entrance interview?

All students who want to borrow financial aid must complete both entrance interviews. 

Where can I find my 1098-T Tuition Statement Tax Form?
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.

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Do I need to complete a Master Promissory Note?

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. 

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How is my financial aid budget determined?
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.
How do I find out how much I have borrowed, including interest, since I started at MCW?

To view your federal loans online, go to the NSLDS site. You will use your FSA ID to log into this website.

You can also view your loan information on your servicers website. If you do not know who your servicer is, this information can be found on the National Student Loan Data System. 

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I have borrowed my full eligibility in loans, but I still need more money. What options are available for me?
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 yours costs and/or seek financial help from parents or relatives. 
Where can I get a loan deferment form to defer my loans while attending MCW?
You must get a deferment form from the holder of your loans. Most servicers have the form available to download from their website. The MCW Office of the Registrar will complete the form and send it to the holder of your loan. 
My parents are not sure if they will be claiming me on their taxes, is there anything I need to do regarding their information for the Financial Aid Office?

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 and include parent's information on the FAFSA. 

When can I expect my money for living expenses?

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 unsubsidized and Grad PLUS entrance interviews.

Graduate Students

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

 

I received my award letter and it lists a “student contribution.” I don’t have this amount of money, how do I replace these funds with loan funds?

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.

Contact Us

If you require a paper copy of any financial aid documents, we will provide one upon request.

Financial Aid

(414) 955-8208 (phone)
(414) 955-0119 (fax)

Hours: 8:00 am-5:00 pm, M - F
Summer Hours: 8:00 am-4:30 pm, M - F

finaid@mcw.edu

Student Accounts

(414) 955-8172 (phone)

mcwtuition@mcw.edu

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