Financial Aid and Tuition

The required financial aid documents vary by program. 

REQUIRED FOR ALL PROGRAMS

Forms for the 2023-2024 school year

• Free Application for Federal Student Aid (FAFSA)
  • Complete the 2023-2024 FAFSA (MCW FAFSA School Code is 015611)
• Financial Aid Application (FAA)
  • 2023-2024 FAA – MD, MSA, PharmD

*If you are NOT going to apply for aid, please email finaid@mcw.edu to have your record updated.

Required for medical students applying for institutional aid

• 2023-2024 PAW-Parental Assistance Worksheet – Medical Student
• Add parent information to the FAFSA

Forms for graduate students 

• Complete the relevant aid year Free Application for Federal Student Aid (FAFSA) (MCW FAFSA School Code is 015611)
  • 2023-24 FAFSA is necessary for Fall 2023/Spring 2024/Summer2024 aid

• 2023-2024 Financial Aid Application – Graduate School
  • 2023-24 FAA is necessary for Fall 2023/Spring 2024/Summer 2024 aid

Documentation of any Additional Expenses

Requests for additional funds are due by February 1.

Additional Expenses - Request for Funds Form
Additional expenses are 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). For further information, refer to What Financial Aid Can and Cannot Cover (PDF).

Childcare Expenses - Student Request Form
To request additional funds for childcare expenses, please complete this e-form. 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)

• Private Loan Lender Choices for Residency Interview - Medical Students
• Residency Interview Expenses - Medical Students

Financial Aid Appeal Form

• Financial Aid Appeal Form (PDF)

• Return of Title IV funds policy (PDF)
• Student Rights and Responsibilities (PDF)
• Satisfactory Academic Progress (PDF)

Learn More

Direct Loan Information

• MPN Direct Unsubsidized Loan
• Apply for Direct Grad PLUS Loan
• Entrance Counseling
• Borrower Rights and Responsibilities
  Direct Unsubsidized Loan Program
  Direct Grad PLUS Loan Program
• Exit Counseling
• Current Student Interest Rates (Federal Student Aid Interest Rates 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.

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.

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. Students who are offered merit-based scholarships will be contacted directly by the Scholarship Committee. There is no application process. Once students are offered admission, they are automatically considered. Prospective students should contact the Admissions Office of their respective schools for more information. 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

Agencies with a mission to help DACA and/or international students:

• Mexican American Legal Defense and Education Fund
• Hispanic Scholarship Fund
• Geneseo Migrant Center
• La Plaza Scholarship and Financial Aid Guide
• Dreamers of WI group

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.

 

Learn more about repayment options and resources available

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.

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

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, 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. 

Learn More

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 and include parent's information on the FAFSA. 

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. 

 

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)