Sources of Financial Aid
There are many sources of funding for medical students. Prospective students may view or download our Financial Aid handout (PDF) here.
Our office is here to help students understand their options, but it is the responsibility of each student to make sure they fully understand the aid they accept. If you have any questions, please contact your financial aid counselor.
Federal Loans
The US Department of Education administers two types of federal loans, both non-need-based, to help make medical school affordable for US citizens and eligible non-citizens. After you apply, the financial aid office will notify you of the types and amounts of available federal loans and provide instructions for requesting loans.
MD students are eligible for between $40,500-$47,167/year from the federal unsubsidized loan program, depending on the length of the academic year. The more expensive federal Grad PLUS loans do not have an annual limit. The maximum total aid, including all scholarships and all types of loans, that a student may receive in an academic year is their Cost of Attendance budget.
Interest Rates for loans taken out during:
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | 2021-22 | 2022-23 | 2023-24 | |
|---|---|---|---|---|---|---|---|---|
| Unsub Loans | 5.31% | 6.0% | 6.6% | 6.08% | 4.3% | 5.28% | 6.54% | 7.05% |
| Grad PLUS Loans | 6.31% | 7.0% | 7.6% | 7.08% | 5.3% | 6.28% | 7.54% | 8.05% |
Institutional Aid
The School of Medicine offers need-based scholarships and need-based loans to students who demonstrate need via the financial aid application. Once students are awarded a need-based scholarship, that amount is guaranteed to renew annually. Students may reapply for need-based aid in subsequent years if there is a change in circumstances. Please see your award letter for details.
Merit-Based Scholarships
All merit scholarships at the UVA School of Medicine are awarded by the Office of Admissions. There is no application for these scholarships. Recipients will be notified by the Office of Admissions, typically in late March or early April.
Merit scholarships are renewable for four years of medical school, contingent on maintaining good standing as a student. For details, please see your award letter and the school’s Academic & Professional Advancement Policy.
Generalist Scholars Program
Students interested in a career in generalist medicine (Family Medicine, General Internal Medicine, General Pediatrics, or Med-Peds) should investigate the medical school’s Generalist Scholars Program (GSP). In addition to providing enhanced curricular opportunities, the GSP also offers participants some scholarship support. You will receive program and application information at the time you are offered admission. Applications are submitted directly to the GSP, not the Financial Aid Office.
Please visit the Generalist Scholars Program website for more information.
Financial Aid for International Students
International students who are ineligible for federal financial aid are also ineligible for the School of Medicine’s institutional aid. As an international student, your home country’s government may have financial aid available. Sometimes this support requires that you return home after your education is complete. There may also be private organizations in your home country that provide support for study in the U.S.
International students admitted to the UVA School of Medicine should visit the International Studies Office website to determine the next steps necessary for enrollment.
Loans
In some cases, there are private lenders who will issue educational loans to international students; however, the UVA School of Medicine does not recommend any particular private lenders. The website finaid.org maintains a list of lenders offering private student loans which you may find helpful. The University also has a search engine to help you compare private lenders.
If you apply for a private loan, please then contact your financial aid counselor to discuss the next steps. Private loans must be certified by the financial aid office. The maximum that we will certify is the official Cost of Attendance.
Common Sources of International Student Funding at the UVA School of Medicine:
- OSAP: For Canadian citizens who are residents of Ontario
- Private Loans
Military Scholarships
Applicants must be U.S. citizens who can meet physical and personal qualifications for a commission in the uniformed services and who are enrolled or accepted for enrollment in accredited schools in the U.S. or Puerto Rico. Awards include payment of full tuition, reimbursement for health insurance, books and supplies required for study, and a monthly stipend.
(FEDERAL: non-need based/Service Commitment)
Applicants must be U.S. citizens who can meet physical and personal qualifications for a commission in the uniformed services and who are enrolled or accepted for enrollment in accredited schools in the U.S. or Puerto Rico. Awards include payment of full tuition, reimbursement for health insurance, books and supplies required for study, and a monthly stipend for ten and a half months when the student is not on active duty. Students receiving HPSP cannot receive any other federal or institutional aid, as the HPSP funding exceeds the Cost of Attendance. The award is based on agreement to undertake service obligation. A minimum three-year term of service is required. The program is highly competitive.
Contact:
AIR FORCE
U.S. Air Force Health Professions Recruiting Office
2011 Crystal Drive, Suite 905
Arlington, VA 22202
Phone: (703) 413-6480
Email
Airforce website
ARMY
SFC Jonathan D. Allen
US Army Medical Recruiting Center
13203 N Enon Church Road
Chester, VA 23836
Phone: (804) 530-8546
Cell: (240) 277-7280
Email: Jonathan D. Allen
NAVY
HMC Corey M. Nasfell
US Navy Medical Programs Recruiter
722 New River Rd.
Christiansburg, VA 24073
Phone: (540) 382-1259
Cell: (540) 677-0320
Email: corey.m.nasfell@navy.mil
Students who join the Army Reserve or the National Guard program receive a monthly stipend during medical school with no interruption to medical school or residency training. In addition, students may be eligible for loan repayment and a continued stipend during residency. Some students may be eligible for a special pay bonus with service agreement.
Contact:
National Guard
SFC Richard Sease
Virginia Army National Guard
National Health Service Corps Scholarship
The National Health Service Corps of the United States Public Health Service offers the following educational support to selected scholarship applicants: Payment of full tuition and required fees, a single payment for other reasonable educational expenses, and a monthly stipend.
Eligibility and Benefits
The National Health Service Corps of the United States Public Health Service offers the following educational support to selected scholarship applicants: Payment of full tuition and required fees, a single payment for other reasonable educational expenses, and a monthly stipend. You must be a citizen of the United States to apply and must submit proof of citizenship with your application.
Service Obligation
For each year of support you would be obligated to practice for one year in a federally-designated, high-priority Health Manpower Shortage Area of the United States. (Minimum obligation is two years.) Service areas include rural community health centers, the rural health care facilities of the Indian Health Service, and the medical facilities of the Department of Justice Federal Bureau of Prisons. For information about finding a location to serve after residency, please see the NHSC website.
Selection
Selection priority will be given to
- former recipients of the NHSC Scholarship or the EFN Scholarship from their school of medicine;
- applicants with those characteristics that increase the probability they will continue to practice in a Health Professional Shortage Area after they complete their service obligation;
- applicants with second priority features who are from disadvantaged backgrounds.
How to Obtain Detailed Information and Application Material
You may request an application from the National Health Service Corps Scholarship Program directly at 1-800-221-9393.
Application Deadline
The deadline for submitting completed applications to the Department of Health and Human Services is generally in March.
Outside Scholarships
We recommend that all students going to medical school conduct a thorough search for outside scholarship opportunities. To assist, we have our Scholarship Bulletin Board, where we have posted a wide variety of opportunities available to medical students.
The US Department of Labor also has a free online scholarship search tool, and there is a fairly comprehensive list specific to medical students here. When searching, please take steps to avoid scams.
