Doctor of Medicine
If you consider only the cost of living, the four years required for the Doctor of Medicine degree is a costly investment in one’s future. With the additional charges for tuition and other fees, the annual cost may be beyond the financial resources of an accepted student and his or her parents. When documented financial need exists, students should apply for financial aid.
A frequently heard comment from both students and parents is that financial aid “forgets” the middle-income family. Washington University has addressed this matter by providing need-based scholarship support as a part of our financial aid award while most other medical schools offer only loans.
Using the 2017-18 estimate for the cost of education at $82,758 for the first year of study, if the need-analysis estimates that the student and parents can contribute $42,758, the student “documents” financial need of $40,000. Once this amount is determined, we fund half by scholarship and half by loans, many of which are interest free during school. Therefore, the student with $40,000 of documented need would receive $20,000 in scholarship and $20,000 in loan support. For the 2017-2018 year, if a student’s need-based loan support reaches $29,000, or 35% of the cost of attendance, the remaining need is satisfied entirely with scholarship. Many medical schools do not provide any scholarship funds until a significant portion of the student’s need is covered by loans.
For students who are accepted for admission to the 2018 first-year class, financial aid application materials will be available early in 2018. You may print the required forms from this web page or complete them on-line through our student financial aid portal, Net Partner.
By early 2018, the student and both biological parents have the financial documents necessary to complete their U.S. Individual Income Tax Return for 2016 (prior year last form accepted) (Form 1040, Form 1040-A or Form 1040-EZ, including W-2s and all required tax schedules). Using financial data from a completed income tax return, a requirement of Washington University School of Medicine, we are able to make a financial aid decision which states specifically the amounts, sources, and terms of scholarship and loan funds. While other medical schools may provide only an estimated award, Washington’s financial aid award is a firm commitment–an award you can bank on!
Need-Based Financial Aid Awards
Washington’s need-based financial aid awards are determined by a careful evaluation of detailed financial information provided by the applicant and the applicant’s parents. If an applicant’s parents are separated or divorced, the financial information is required from both biological parents (excluding income and assets of their spouse, if they have remarried). All financial data is documented with official copies of U.S. individual income tax return of the applicant and the applicant’s parents.
“Permanent residents” of the United States are eligible for Federal financial aid programs. But need-based financial aid is awarded from Washington only if the applicant and parents can provide official, audited documents with the same detailed information as provided on a U.S. income tax return. Both original and translated versions must be presented and will be approved based on a case-by-case basis. Students who are not “permanent residents” or citizens of the United States are not eligible for need-based financial aid and must document, in a manner acceptable to Washington University, resources to pay the cost of education for four years.
Educational Debt Data for 2015 Graduates at Washington University School of Medicine
|Debt Amount||Number of Students|
|$0 – 59,999||75|
|$60,000 – 119,999||21|
|$120,000 – 159,999||13|
|$160,000 – 199,999||10|
|$200,000 – or more||5|
|Total graduates with debt||86|
Educational Debt Data for 2015 Graduates at Medical Schools in the U.S.
|National Averages||Debt Amount|
|Public medical schools||$172,751|
|Private medical schools||$193,483|
|All (public and private)||$180,723|
In addition to our considerable need-based financial aid resources, Washington is among a small number of medical schools which offer merit-based scholarships. Our merit scholarships are generally full tuition scholarships and are offered to entering students only. Recipients are selected from those applicants who have been accepted to the entering class, and all accepted students are considered for merit scholarships. Merit-based scholarships are eligible for annual renewal of four years of support.
Through an arrangement with the Monticello Foundation, Washington University is the exclusive site for the Mr. and Mrs. Spencer T. Olin Fellowships for Women. Full-tuition scholarships are awarded to selected women throughout the University who are beginning their graduate or professional degree study. In each first-year class, the medical school has historically received between one and three of the four-year scholarships.
While it is not considered a financial aid program, Washington University’s Medical Scientist Training Program (MSTP) provides significant financial support to its trainees. Each student receives payment of tuition and a monthly stipend for living expenses. Our MSTP is the largest program in the nation (up to 25 MSTP students are in each first-year class of 120).
Other Features to Consider
Just as financial aid resources vary considerably between medical schools, the cost of education also differs in ways that go beyond tuition. The following are features of Washington University and St. Louis which should be considered when comparing costs.
Washington’s tuition is “stabilized.” TUITION WILL NOT INCREASE. The tuition you are charged as a first year student is the tuition you will pay all four years.
Washington’s tuition is “comprehensive.” There are NO ADDITIONAL FEES. All students receive, without additional charge, student health coverage, hospitalization and long-term disability insurance. In addition, they are provided a laboratory grade microscope during the first and second year of study as well as an email account and internet access through University computers.
St. Louis is consistently recognized as one of the least expensive cities in the U.S. for housing, both purchase and rental, and for overall cost of living.