Financial Aid FAQs

Navigating the world of financial aid can feel overwhelming, but our Office of Financial Aid is committed to providing clear guidance, personalized support, and a range of resources to help you make informed decisions as you prepare for your journey at Weill Cornell Medicine.

Whether you’re exploring how to apply, wondering what types of aid you may qualify for, or trying to understand award letters and deadlines, this FAQ covers the most common questions students and families ask. Use the sections below to find quick, clear answers and helpful guidance as you plan for your educational expenses.

Once you are admitted to your program, you may contact us about applying, or visit the Applying for Financial Aid section of our website for more information.

To receive financial aid, you must complete the Free Application for Federal Student Aid (FAFSA).

This program, announced in September 2019, is an expansion of our need-based financial aid offerings for students pursuing a Medical Degree. Thanks to the generosity of our donors, we are able to meet full financial need with WCM scholarship funding for eligible applicants. Please visit the Medical Degree (MD) Program section of our website for more information.

If you are an MD program student and would like to apply for need-based financial aid, you may do so by completing the FAFSA application, the CSS Profile, and uploading all required income documents via LEARN (NetPartner). Please review the Apply for Aid: MD Program section of our website for additional details.

Financial need is cost of attendance minus family contribution.

Students must reapply for financial aid each year. Please see the deadlines in the Applying for Financial Aid section of our website.

Eligible students may access Federal Direct Unsubsidized Loans and, if additional funding is needed, Direct Graduate PLUS Loans through the U.S. Department of Education or Private Student Loans. Please visit the Educational Loans section of our website for more information.

To be eligible for federal student loans, you must complete the FAFSA. In addition, you are required to complete Loan Entrance Counseling and the Master Promissory Note on the Federal Student Aid website.

No. Federal Direct Unsubsidized and Graduate PLUS Loans are not need-based, but you must meet basic eligibility criteria such as U.S. citizenship or eligible non-citizen status and satisfactory academic progress.

Loan funds are typically disbursed at the start of each enrollment period after all requirements are completed, and you have started coursework for the term.

Federal loans can cover educational expenses up to the school’s cost of attendance, minus any other financial aid you receive. Graduate PLUS or Private Student Loans are often used to cover remaining costs after Unsubsidized Loan eligibility is exhausted.

Interest rates and loan origination fees are set annually by the federal government. Current rates can be found on the Federal Student Aid website.

All federal loans (Unsubsidized and Graduate PLUS) have a loan fee. The loan fee is a percentage of the loan amount and is proportionately deducted from each loan disbursement. The loan amount on the award letter/financial aid portal is the gross amount and the amount on the bill in the net amount (after loan fee deduction).

Unsubsidized Loans do not require a credit check. Graduate PLUS Loans do, but approval is based on the absence of adverse credit history—not credit score.

Repayment typically begins six months after graduation, withdrawal, or a drop below half-time enrollment. Various repayment plans, including income-driven options, are available.

Yes. Federal loans offer deferment and forbearance options for qualifying circumstances, such as residency or economic hardship.

Yes. Many borrowers qualify for programs such as Public Service Loan Forgiveness (PSLF) or income-driven repayment forgiveness, depending on their career path and repayment plan.

Financial Aid FAQs

Financial Aid Applications

Loans