Financial Aid at a Glance

Alert

COVID-19 Update: Staff members within the Financial Aid Office are currently working remotely. To contact our office, please email us at financial_aid@hms.harvard.edu or reach us by phone at 617-432-0449.
 

A notice will be updated here when staff have returned to the office.

Emergency aid for extenuating circumstances related to COVID-19 may be available under the Medical Student Emergency Aid Fund to those who experience temporary financial hardship related to travel, technology and other expenses that are directly related to change to remote learning. 

Financial Aid for MD Students

Generous Aid, Low Debt

Harvard Medical School has one of the most generous MD financial aid programs in the country. On average the HMS Financial Aid Office administers over $40 million in loans, employment, and scholarship funding from various federal, private, and school sources to approximately 73 percent of the HMS student body. As a result of our generous financial aid programs, HMS maintains an average graduating debt well below the national average. Students in the HMS Class of 2020 graduated with an average medical debt of $106,877 which compares favorably with the $185,682 national average at private medical schools.

Diverse Student Body

A diverse student body is integral to the HMS mission. We select candidates without regard to their ability to pay for medical school and award financial assistance solely on the basis of financial need. Of our financial aid recipients at HMS, 1 in 5 come from a family whose annual income is less than $50,000 and 50 percent qualify for our Middle Income Initiative. In order to maintain our generous aid program, we require both students and parents to contribute to the cost of attendance to the extent they are able so that we may distribute limited resources fairly and equitably to those with the greatest need.

HMS Diversity Statement

The average graduating debt in 2019 at HMS was $114,729, compared to the national average of $175,607 at public medical schools, and $184,892 at private medical schools.

For What It's Worth

Monthly Newsletter
September 2021

Refunds
Need money to cover fall living expenses?

Students who expect to have a credit balance once all anticipated aid is disbursed may apply for a fall living expense refund against the future credit.
Refund/Cash Advance Request Form

Federal Loan Interest
Interest on Federal Direct loans will continue to be waived through January 31, 2022.
View Coronavirus Information for Students and Borrowers

2021-22 Federal Loan Interest Rates Announced:
Federal Direct Unsubsidized Loan: Fixed at 5.284%
Federal Direct Graduate PLUS Loan: Fixed at 6.284%
View federal loan details.

Constitution Day 2021
View flyer for details.

Financial Aid Fact:
Students can cancel all or a portion of their federal loan disbursement within 120 days of the date of disbursement. Students will not be charged interest or fees on the amount that is returned to their fedreal loan servicer.

Medical Student Emergency Aid Fund
Emergency aid for extenuating circumstances related to COVID-19 may be available under the Medical Student Emergency Aid Fund to those who experience temporary financial hardship related to travel, technology and other expenses that are directly related to change in remote learning.