Financial Aid at a Glance

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 72 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 2021 graduated with an average medical debt of $105,041 which compares favorably with the $188,295 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

Average Debt

On Graduation

Bar graph of debt where HMS is 40% less than public schools, 45% less than other private schools.

The average graduating debt in 2021 at HMS was $105,041, compared to the national average of $176,398 at public medical schools, and $188,295 at private medical schools.

For What It's Worth

Monthly Newsletter
July 2022

Need a cash advance to cover summer living expenses?

Students who expect to have a credit balance once all anticipated aid is disbursed may apply for a summer cash advance against the future credit

Cash advances will be processed in mid-June for students with complete financial aid applications.
Refund/Cash Advance Request Form

2022-23 Financial Aid Award Letters
The 2022-23 Financial Aid Award Letters are now available through the HMS Financial Aid Portal and My.Harvard.

New My.Harvard Financial Aid Feature
We are excited to announce the launch of financial aid award letters on My.Harvard. Here you can view your financial aid application status, track your documents, print your own award letters as well as have easy access to quick links such as refund and loan adjustment forms.
View my financial aid information.

The 2022-23 Federal Loan Interest Rates Announced:
Federal Direct Unsubsidized Loan: Fixed at 6.543%
Federal Direct Graduate PLUS Loan: Fixed at 7.543%
View federal loan details.

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

Financial Aid Fact:
Harvard's health insurance plan fee is considered a mandatory fee. For full need students, this fee is covered with HMS scholarship funds.
View cost of attendance budget.

Fall 2022 Tuition Bills
Bills are due August 1st.
Find out more about the ins and outs of your tuition billing statement.
Watch a video: Your Student Bill.

Research Year/Combined Degree Programs
Thinking about pursuing a 5th year or enrolling in a combined degree program at Harvard?
Find out how this impacts your financial aid.
Watch a video: Research/Dual Degrees

AAMC Financial Wellness
Access free financial calculators, articles, and videos to help you create a budget, track your spending, create financial goals, and enhance your financial knowledge about credit, financial planning, and money management.
Learn more about AAMC Financial Wellness.