Applying for Financial Aid as an MD Student
Many students who enroll in NYU School of Medicine’s MD degree programs apply for financial aid to pay for additional costs of medical school that are not covered by our full-tuition scholarship. The Free Application for Federal Student Aid® (FAFSA®) is required to be considered for all types of institutional and federal aid available, including scholarships and loans.
To complete the applications, you submit financial information about yourself, your parents, and if applicable, your spouse. You need the following items:
- federal income tax returns: all pages and schedules filed
- W-2 form(s)
- NYU School of Medicine FAFSA® institutional code, 002785
- a federal student aid identification number (FSA ID), issued by the U.S. Department of Education’s Federal Student Aid office
We consider each student’s entire financial situation when determining the appropriate financial aid package. Because you are a graduate student, you are considered an independent applicant under federal guidelines. That means that your parents’ financial information is not required to complete the FAFSA®.
Financial Aid Tax Information, Dates, and Deadlines
The U.S. Department of Education recently changed the federal financial aid application process to make it easier for students to apply for aid earlier and with fewer errors.
Students planning to attend school in the 2019–20 academic year can submit the FAFSA® as early as October 1, 2018, using income and tax information from 2017. New and returning students can submit for the 2019–20 school year through June 30, 2020.
We recommend that you submit your FAFSA® as early as possible, and no later than our March 1 deadline, so that the broadest range of funds is available.
If you are not planning on filing a tax return, you must submit a tax waiver form as part of your application materials to declare exemption.We require that you utilize the Internal Revenue Service Data Retrieval Tool to automatically import your information into the FAFSA®.
Other Factors That Influence Financial Aid Awards
Certain federal loan programs place a cap on the amount students are allowed to borrow over the course of their education. Prior loans for undergraduate and other graduate degrees are assessed as part of the financial aid process to determine whether students are within the borrowing limits of a particular loan program.
Undergraduate Loan Deferment
After classes begin, the Office of Registration and Student Records at NYU School of Medicine notifies the National Student Clearinghouse, a centralized student database, that you are a full-time graduate student. Most lending agencies automatically check this database and place your undergraduate loans on “in-school” deferment.
However, if you have lenders who do not use the National Student Clearinghouse, you may need to fill out deferment paperwork. If you are not sure how to defer existing loans, make an appointment with the financial aid office for help.
For questions about the financial aid process or to schedule a counseling session, contact the Office of Financial Aid at firstname.lastname@example.org or 212-263-5286.