Medical School Financial Aid & Tuition Information
2023-2024 Standard Cost of Attendance Budget
These funds have been donated to or solicited by the Medical College of Wisconsin for support of financially needy medical students. These loans are interest free while enrolled, during grace and through periods of deferment (such as residency). Interest rates vary but generally range from 3%-9% and are fixed for the life of the loan based on the year you borrow the money.
Students may be eligible for an institutional loan if federal and private funding options have been exhausted. For more information regarding eligibility requirements, criteria for selection, eligible amounts, procedures, applications, and truth in lending disclosures, please contact the Financial Aid Department.
The Wisconsin Medical Society Student Loan program is available to rising M-2, M-3 and M-4 medical students who are Wisconsin residents. These loans are given out to the students with the most need, on a first come first serve basis. Students must submit a new application every year and must submit a biographical statement the first time they apply.
Scholarship & Grant Information
State of Wisconsin Higher Educational Aids Board Primary Care and Psychiatry Shortage Grant
The Health Services Scholarship Program (HSSP) was created to encourage health services professionals to practice in Health Shortage Areas in the State of Wisconsin. A student is eligible to apply if they are a resident of the state and in the second year or higher of a graduate dental, psychiatry or medical (including primary care physicians, physician’s assistants and nurse practitioners) training program (Health Care Training Program) in the State of Wisconsin.
Each year, MCW admits approximately one-half of its entering class from its Wisconsin applicant pool. All acceptances offered to applicants claiming to be Wisconsin residents will be contingent upon confirmation of their residency status by the Higher Educational Aids Board (HEAB), located in Madison, WI.
To apply for Wisconsin residency for tuition purposes, you will need to complete the Wisconsin Residency Determination Form (PDF). Mail the form and supporting documentation to HEAB at the address listed on the form. The state of Wisconsin will provide Wisconsin residents a credit which will be applied toward tuition for the academic year. The Credit amount is an estimate based upon Wisconsin resident enrollment and is subject to change each academic year.
Please view the current Tuition & Fees schedule at the top of this page for estimated grant amounts.
The Medical College of Wisconsin offers a modest number of merit scholarships to incoming students. Recipients are selected by the Senior Associate Dean and will be notified of the award by that office. A limited number of scholarships are available to students based on financial need. These are awarded through the standard financial aid application process and no special application is required. Applicants requesting to be considered for MCW scholarship funding must have their parents submit the Parental Assistance Worksheet to the Financial Aid Office.
The Army, Navy and Air Force offer programs that pay tuition, fees, health insurance premium, books and a monthly living allowance. For each year of scholarship you receive a year of military service is expected, for a minimum of three years. Information on these programs can be obtained from a recruiting office near you.
The National Health Service Corps is a competitive federal program offering the scholarship recipient tuition, fees, health insurance premium, books and a monthly stipend. In return for each year of award, scholarships recipients incur a one-year service obligation providing full-time clinic services at sites in federally designated Health Manpower Shortage Areas of the United States. Application deadline is usually late March for the following academic year. Further information can be found on their website.
The Wisconsin Medical Society is a private organization that offers scholarships to Wisconsin residents. Further scholarship descriptions and applications can be found on their website.
Frequently Asked Questions
The Higher Education Aids Board makes all decisions regarding becoming a Wisconsin resident. The residency determination form can be found below:
Each year, the College admits a significant number of its entering class from its Wisconsin applicant pool. All acceptances offered to applicants claiming to be Wisconsin residents will be contingent upon confirmation of their residency status by the Higher Education Aids Board (HEAB), located in Madison, WI.
To apply for Wisconsin residency for tuition purposes, you will need to complete the Wisconsin Residency Determination Form (PDF). Mail the form and supporting documentation to HEAB at the address listed on the form.
Institutional aid is divided among students with the greatest financial need, who make the deadline. Included in the financial need calculation is total debt (undergraduate and MCW debt) and total resources. Students must have a completed FAFSA including parental information, Financial Aid Application and Parental Assistance Worksheet on or before the deadline. The Parental Assistance Worksheet must be completed and signed by your parents. Institutional aid is awarded to the neediest students first.