How Aid Works

Financial aid provides financial assistance to students who would otherwise be unable to pursue a medical education.

Who’s responsible for what?

The primary responsibility for financing your education rests with you and your family.

Financial assistance from the school and other sources is intended to be supplementary.

View a breakdown of your rights and responsibilities in regard to financial aid

How financial aid is calculated

Financial aid is offered on the basis of demonstrated financial need and cannot exceed your cost of attendance. This is determined according to:

• Federal, state, and University regulations
• Available funding levels for each aid year

One important tool we use is a standard student budget (cost of attendance) we have developed for each of our campuses: Twin Cities and Duluth. This budget includes:

• Direct educational costs, such as tuition and fees
• Indirect costs, including housing, transportation, books & supplies, and other personal living expenses for a single student

Many types of aid

Financial aid may consist of:

• Loans from federal and University sources
• Scholarships and grants
• Work-related opportunities, such as work-study, graduate assistantships, and research grants

Explore aid opportunities

The process

Want to apply for aid? Here are your three must-do steps:

• Submit your FAFSA application. You must complete the Free Application for Federal Student Aid (FAFSA) every academic year you wish to receive financial aid. If you wish to be considered for need-based institutional scholarship funding, you must also submit the Twin Cities Medical Student Scholarship Application. Annual application materials will become available in December for both the FAFSA and for the Twin Cities Medical Student Scholarship Application.
• Watch for and respond to any correspondence from the University of Minnesota. You may be asked to provide additional information.
• Accept, reduce, or reject your financial aid offer. In July, you will receive an email notice of your official financial aid offer, which you will need to accept, reduce, or decline. You should not automatically accept your entire offer. Consider your actual needs and accept only what is necessary.

Get started

Connect with a counselor

Our dedicated financial aid staff can assist you with all aspects of financing of your medical education.