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
June 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
Financial Aid award notifications will be emailed to continuing students in mid-June.
To check the status of your application please log into the HMS Financial Aid Portal and go to the documents link.

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

HUECU's Personal Finance Wellness Summit
The Harvard University Employees Credit Union (HUECU) is hosting a 2 day summit that will focus on money and mental well-being.
Sessions will take place from 12pm - 2pm on June 14th and 15th
View flyer for more information.

Panacea Financial Medical School Scholarship
This scholarship program is for currently enrolled full-time medical school students who are an underrepresented ethnic or racial minority consistant with the National Science Foundation definition: African American/Black, Hispanic/Latino, Native Americans (American Indian/Alaska Native/Native Hawaiian), and Pacific Islander.

Application Deadline: June 30, 2022

For more information visit

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.