Financial Aid Eligibility
Cost of Attendance
The standard cost of attendance is constructed using federal aid guidelines, to include all mandatory education-related expenses experienced by all medical students at our school from the first day of classes to the last day of classes of the given academic year. Your total financial aid resources cannot exceed your cost of attendance.
Eligibility for financial aid is based on your documented financial need. This is calculated by subtracting your contribution (as determined by your FAFSA information) from your cost of attendance.
School of Medicine Need-Based Resources
Students interested in need-based resources are required to provide both parents' information on financial aid applications, from which your contribution will be determined. In cases where a divorced parent has remarried, you have the option of using the parent and stepparent. A parent’s ability to help, rather than his or her willingness, is something you should consider carefully. For these school-administered programs, “financial need” is considered in relation to the need of other applicants and the funding available for the academic year. Institutional resources consist of a limited number of need-based scholarships and need-based, low-interest loans.
Unsubsidized Stafford Loans
Students are also considered for Unsubsidized Stafford Loans. The annual maximum is $47,167. The student is responsible for the interest accruing during enrollment and deferment periods. Students may choose to make payments on the interest or defer all payments while in school. Federal Stafford Loans first disbursed from July 1, 2016 to June 30, 2017 have a fixed interest rate of 5.31 percent. There is a six-month grace period after graduation before repayment begins.
The aggregate maximum for all Stafford Loans is $224,000. This includes Stafford Loan Debt incurred before beginning medical school.
If you are an international student, you may find that there are limited opportunities to assist you with your educational costs. Applicants who do not hold a permanent visa or an immigrant visa are not eligible for educational loan programs supported by the US government. (www.fafsa.ed.gov)
Because of these limitations and the high cost of pursuing a medical education within the US, qualified international students will be issued conditional acceptance into the University of Pittsburgh School of Medicine under the following conditions. On or before July 1 of the year of matriculation, the accepted applicant must deposit in an escrow account funds sufficient to meet their first two years of their medical education with documented support of the ability to pay their final two years.
Specific information regarding the required International Student Escrow Deposit along with information regarding Financial Aid and Scholarships can be found in the University of Pittsburgh School of Medicine International Medical Student Application Process Policy and International Medical Student Escrow Account 2017-2018 Terms and Conditions.