Types of Financial Aid for MD Students

Affordability & Financial Aid for MD Students at NYU School of Medicine Types of Financial Aid for MD Students
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Types of Financial Aid for MD Students

To help cover the cost of medical school, NYU School of Medicine awards MD students both need- and merit-based financial aid packages. Need-based financial aid is intended to cover the difference between what you and your family can afford to pay and the cost of attending NYU School of Medicine, whereas merit-based aid may be awarded regardless of your financial circumstances.

Many factors determine the amount and types of financial aid a student receives, including a needs assessment, individual circumstances, current debt load, and the availability of funds. To be considered for need-based aid, you complete the financial aid application process, providing financial information about yourself, your parents, and your spouse (if applicable).

There are three basic types of financial aid:

Financial Aid Eligibility

Only U.S. citizens or permanent residents who have never defaulted on a student loan can receive financial aid. To be considered for financial aid, and to maintain the funds awarded to you, you must be in compliance with NYU School of Medicine’s Satisfactory Academic Progress Policy.

If you receive an outside scholarship or grant, it’s your responsibility to notify the financial aid office. That information is taken into account when we determine your financial aid package.

Eligibility for Dual MD/Master’s Degree Students

If you are enrolled in dual MD/master’s degree programs, NYU School of Medicine processes your financial aid while you complete coursework for the MD program. During your master’s degree semesters, financial aid is awarded and processed through the graduate school that administers your master’s degree.

The limit on federal loans you are eligible to receive varies according to the academic program you choose, and that may affect your borrowing capacity for a given semester. For that reason, we encourage all medical students applying to a dual MD/master’s program to schedule an appointment for financial counseling.

To schedule an appointment, contact the NYU School of Medicine Office of Financial Aid at finaid@med.nyu.edu or 212-263-5286.

Eligibility for International Students

International students are considered for merit scholarships but are not currently eligible for need-based loans or scholarships. If you’re an international medical student seeking financial assistance, you can search NYU’s database of private lenders for options.

Contact Us

For questions about the financial aid process or to schedule a counseling session, contact the Office of Financial Aid at finaid@med.nyu.edu or 212-263-5286.