School of Medicine Need-Based Resources:
Institutional resources consist of a limited number of need-based scholarships, typically offered as renewable four-year awards. For initial consideration and determination of eligibility for need-based scholarships, parent information must be submitted. For institutional need-based scholarships, “financial need” is considered in relation to the need of other applicants and the availability of funding for the academic year.
Outside Administered Aid:
Every year, numerous foundations and other organizations offer scholarships and low-interest loans to Pitt Med students. The award amounts, eligibility criteria, application requirements, and other factors vary by organization and year. Details regarding external scholarships and loans are regularly communicated to current students via email and online via SharePoint.
Federal Direct Unsubsidized Loan:
Loan amounts range from $40,500 to $47,167 per year, dependent upon length of academic terms. These loans begin accumulating interest upon disbursement, but no payments are required until after graduation and a six month grace period. Interest rates are fixed. Rates and additional details are outlined at https://studentaid.gov/understand-aid/types/loans.
Federal Direct Graduate PLUS Loan:
Loan cannot exceed Cost of Attendance less any other aid received. These loans begin accumulating interest upon disbursement. Students must permit a credit check and not have adverse credit history for the loan to be approved. Interest rates are fixed. Rates and additional details are outlined at https://studentaid.gov/understand-aid/types/loans.
Institutional Loan:
Limited institutional loan funds may be available. No student can exceed $30,000 in institutional loans for medical school. Contact Financial Aid for details.
Private Alternative Loan:
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 sets its own terms and conditions, and the interest rate is typically based on the borrower's and/or cosigner'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.
UPSOM Programs:
Some individual programs offer financial support. See https://www.medadmissions.pitt.edu/upsom-programs for details.