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.

Calculating Need

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.

Federal Direct Unsubsidized Loans

Students are considered for Federal Direct Unsubsidized Loans. The annual maximum is $47,167 for medical students. Interest accrues during enrollment and deferment periods and must be repaid by the student borrower. While in school, students may choose to make payments on the interest or defer all payments. Federal Direct Unsubsidized Loans first disbursed from July 1, 2018 to June 30, 2019 have a fixed interest rate of 6.6%. A loan origination fee is also charged; origination fee schedule. There is a six-month grace period after graduation before repayment begins.

The aggregate maximum for federal student loans is $224,000 for medical students.  This includes federal student loans incurred before beginning medical school but does not include Federal Direct PLUS Loans.

Federal Direct Graduate PLUS Loans

Students who need to borrow more than the unsubsidized loan may also borrow Federal Direct Graduate PLUS Loans. The annual maximum is based on Cost of Attendance less other financial aid. Interest accrues during enrollment and deferment periods and must be repaid by the student borrower. While in school, students may choose to make payments on the interest or defer all payments. Unlike Federal Direct Unsubsidized Loans, the Graduate PLUS loan requires a credit check. Federal Direct Graduate PLUS Loans first disbursed from July 1, 2018 to June 30, 2019 have a fixed interest rate of 7.6%. A loan origination fee is also charged; origination fee schedule. There is a six-month grace period after graduation before repayment begins. Federal Direct Graduate PLUS Loans do not count toward the aggregate loan limit.

Private Alternative Loans

Students can choose to borrow a private loan in place of or in addition to a federal student loan. Private loans are typically made by banks or credit unions. Each lender offers its own terms and conditions, and the interest rate is based on the borrower's credit history. Please be sure to understand the rates, terms, and conditions of a loan before borrowing. A list of lenders to get you started on your private loan search can be found at FastChoice. Students may use any lender they wish, regardless whether it is on the list.

International Students

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 2019-2020 Terms and Conditions