MD Program Tuition & Financial Aid
Financing Your Future
Learn how to pay for medical school with research, planning and guidance.
There’s an undeniable reality for tomorrow’s doctors: Most medical school students graduate with debt — almost 75 percent, according to the AAMC. It’s important to know all your financial aid options before you go forward.
The University of Michigan Medical School Financial Aid Office is dedicated to ensuring that eligible students get the financial resources needed to cover their medical education expenses.
The majority of students who enroll in our program apply for and receive some kind of financial aid. These could be federal and/or institutional loans, and grants and scholarships.
We welcome students throughout the financial aid cycle, from admissions through graduation. We’re here to help you make informed decisions for your financial future.
What is Financial Aid?
Financial Aid is financial support that makes education more affordable. Financial support can include scholarships, grants and loans and generally are categorized in two ways:
- Gift Aid: Aid that generally does not have to be repaid. Gift aid includes merit scholarships and need-based grants. The Admissions Office awards merit scholarships through alumni gifts to help students decrease their overall educational debt. Every admitted student is considered for a merit scholarship; no application is needed. Need-based grants are awarded by the Financial Aid Office and an application is required to determine financial need.
- Self-Help Loans: Aid that must be repaid. Student loans are available through the federal government and through private lending institutions. Most student loans do not require repayment until after a student graduates or drops below half-time enrollment.
By the Numbers
Data is based on finalized numbers from FY23-24.
Six Financial Aid Facts
- Our tuition is competitively priced with other leading institutions
- We actively seek philanthropic support for scholarships, which is a top priority
- We are a national leader in grant and scholarship disbursement
- Every admitted student is considered for Admissions scholarships
- We work one-on-one with students to develop a sound financial aid plan
- More than half of our students receive a scholarship or grant, ranging from hundreds of dollars to full tuition
You Might Be Interested In
AAMC: Michigan's 10 Financial Aid Answers
There's a lot to consider when thinking about where to attend medical school. We encourage students to start thinking about their financial planning strategy for medical school as early as possible. See our responses to AAMC’s top 10 financial aid questions.
Cost of Applying to Medical School
Applying to medical school requires an upfront investment. To help you navigate the process, the AAMC provides comprehensive resources filled with unbiased, reliable guidance for perspective medical students.
