Package Determinations

How Financial Aid Awarding is determined in the MD Program

When calculating a student’s financial need, the Financial Aid Office uses a standardized analysis formula to determine the total family contribution. Financial disclosure is made via several financial aid application documents, including the US Department of Education’s Free Application for Federal Student Aid (FAFSA) and the College Board's CSS Profile Application.

These two national application processes perform needs analysis to determine:

Student Aid Index (SAI) - The information provided on the FAFSA is evaluated by the federal government using its Federal Methodology need analysis formula. This formula determines the Student Aid Index (SAI) that is used to determine eligibility for federal student aid only.
Institutional Expected Family Contribution (EFC) - The information provided on the CSS Profile is evaluated by the College Board using the standardized institutional needs analysis formula. This formula determines the expected family contribution that is used for the purpose of awarding institutional HMS scholarships and loans.

Students applying for HMS need-based financial aid only need to supply parent tax data upon the first time submitting a financial aid application. Once the expected family contribution (EFC) has been determined, this will be the EFC and will remain the same for up to 4 years of the MD program. Students who experience life changes (i.e. changes in number of dependents or marital status) will be required to complete a full reapplication process where the EFC will be reassessed.

The College Board website provides an Expected Family Contribution Estimator for students who wish to get a rough estimate of what the assessed family contribution may look like.

Students may qualify for both federal and institutional aid.

Sections:

How Financial Aid Awards are Packaged

Appeals Process

How Financial Aid Awards are Packaged

The combination of aid sources offered to a student is referred to as the financial aid package.

HMS Need-Based Scholarship

HMS assures that high need students have top priority for scholarship aid and this priority is reflected in the formula determining need-based scholarship.

Formula: Tuition and Mandatory Fees minus Institutional EFC equals HMS Scholarship

Institutional scholarships include: HMS Scholarships, General Restricted Scholarships, the Yellow Ribbon Program and the Resident Tutor Policy.

Our financial aid formula ensures a student with a zero expected family contribution will have full coverage of both tuition and mandatory fees. Then, loans can make up the cost of living expenses.

Outside Scholarship Policy

All applicants for HMS financial aid are encouraged to seek additional sources of funding. Outside scholarships generally are first applied toward replacing the calculated parent contribution. After the parent contribution has been fully replaced, a dollar for dollar adjustment is made to the aid package. When making this adjustment, the outside scholarship will be used to decrease the loans in the aid package, beginning with least favorable loan. Only if the outside award exceeds the total amount of student loans would the HMS scholarship be decreased.

In addition to private outside scholarships, this policy also applies to HST research and teaching assistantships.

Loan Composition

The loan composition may be made up of a combination of institutional, federal and private loan sources.

Loan packages will be determined by:

Formula: Total Cost of Attendance minus Institutional EFC minus HMS Scholarship equals Unmet Need

Students with unmet need equal to or more than $7000 will be eligible for an HMS institutional loan.

Institutional loan options include:

LDS
HMS Revolving
Wolfson*

*Beginning with the fall 2024 incoming class:

Students receiving the Wolfson loan will be awarded $20,000 per year for years 1 and 2.
In years 3 and 4, students will be awarded Federal Direct Loans only.
Wolfson loan recipients are eligible for a maximum of $40,000 during their time at HMS.

Typical Composition of Federal and Institutional Loans for Pathways MD students with need for 2024-2025

Loan Type	Year 1	Year 2	Year 3	Year 4	Year 4 (not graduating)	Year 5
Federal Direct Unsubsidized	$23,715	$27,752	$29,730	$27,600	$28,680	$27,600
Institutional Loan	$ 7,000	$ 7,000	$ 7,000	$ 7,000	$ 7,000	$7,000
Total Loan	$30,715	$34,752	$36,730	$34,600	$35,680	$34,600

International or DACA-Eligible Students

International or DACA-eligible students who qualify for loan funding will receive a loan level consistent with their entering class. International and DACA-eligible students entering HMS will have the federal portion of their loan replaced with a supplemental, private loan.

Expected Family Contribution (EFC)

Potential resources available to help meet educational costs always include, but are not limited to, the calculated contribution from the student's income and personal assets, contribution from parents, and if married, contribution from spouse's income and assets. These family resources are grouped together to form the family contribution.

Types of Expected Family Contribution

Student Contribution

HMS expects every student to contribute toward educational and living expenses. A review of the student’s income and assets will determine an appropriate student contribution assessment.

Students participating in the Summer Federal Work-Study Program should note that a portion of the work-study award (after adjusting for taxes and living expenses) is required to be used to fund a portion of the calculated student contribution. This portion will be determined at the end of the summer once final summer earnings are known. Federal regulations prohibit students from borrowing additional student loans to fund the Summer Work-Study component of the calculated student contribution.

If the student/spouse has accumulated assets, s/he is expected to contribute a portion of these assets towards educational expenses. The need analysis formula assesses 25-35% of the total net value of student/spouse assets as part of the calculated student contribution each year.

Parental Contribution

Contribution

Harvard Medical School requires parent financial resource information from all applicants who are applying for institutional funding regardless of age, dependency, marital status, tax status, income level or prior history of financial independence.

In extreme cases, e.g. when the whereabouts of a parent is unknown, the Committee requires that the situation be documented by a third-party professional such as clergy, attorney, social worker, family physician or other professional with personal knowledge of the family. Please refer to the Petition for Waiver of Non-custodial Parent Financial Information for more details.

Students who anticipate that parents will not provide the full expected parent contribution must plan in advance how they will finance an education at HMS without this support. Institutional funds are not available to replace an absent expected parent contribution.

Parental contribution will be calculated using standard institutional need analysis policy. This calculated contribution may be adjusted under several scenarios. For more information, see Parent Contribution Adjustments.

Adjustments

Parental contribution will be calculated using standard institutional need analysis policy. This calculated contribution may be adjusted under several scenarios:

1. HMS’ Middle Income Financial Aid Initiative
2. Student Age Policy
3. Sibling(s) Enrollment in Postsecondary Education
4. Self-Supporting Status
5. Non-Custodial Parents
6. Replacing a Missing Parent Contribution

1. HMS’ Middle Income Financial Aid Initiative

HMS remains committed to taking steps to reduce the cost of a four-year medical education. The Middle Income Initiative adjusts the parental contribution expected for HMS families with the greatest financial need.

Incoming Class Fall 2024

Harvard Medical School waives the parental contribution (PC) for students whose total parental income earned in the U.S. or Canada (including untaxed income) is $150,000 or less and whose assets are typical for those income levels. For students whose total parental income earned in the U.S. or Canada (including untaxed income) is between $150,000 - $200,000 and whose assets are typical for those income levels, Harvard Medical School reduces the expected parent contribution as noted below.

Total Income Under $150k: PC waived
Total Income $150K - $175K: PC reduced 40%
Total Income $175K - $200K: PC reduced 20%

Continuing Students

Harvard Medical School waives the parental contribution (PC) for students whose total parental income earned in the U.S. or Canada (including untaxed income) is $100,000 or less and whose assets are typical for those income levels. For students whose total parental income earned in the U.S. or Canada (including untaxed income) is between $100,000 - $150,000 and whose assets are typical for those income levels, Harvard Medical School reduces the expected parent contribution as noted below.

Total Income Under $100k: PC waived
Total Income $100K - $110K: PC reduced 90%
Total Income $110K - $120K: PC reduced 80%
Total Income $120K - $130K: PC reduced 55%
Total Income $130K - $140K: PC reduced 40%
Total Income $140K - $150K: PC reduced 25%

2. Student Age Policy

For students who are below age 29 as of October 1, 2024, the full calculated parental contribution will be used in determining eligibility for need-based funds:

For students who are age 29 as of October 1, 2024, the calculated parent contribution will be reduced by 25%.
For students who are age 30 as of October 1, 2024, the calculated parent contribution will be reduced by 40%.
For students who are age 31 as of October 1, 2024, the calculated parent contribution will be reduced by 60%.
For students who are age 32 and above as of October 1, 2024, the calculated parent contribution will be reduced by 80%.

3. Sibling(s) Enrollment in Postsecondary Education

The calculated parent contribution can be affected by several variables. The most notable of these is the number of siblings enrolled simultaneously at a post-secondary educational institution. The HMS need analysis formula assumes that parental resources are divided among all of these siblings. Since HMS assesses a parent contribution once and uses that amount for all four years, it is important to report a sibling’s current and future enrollment as accurately as possible. If a sibling’s enrollment changes from what was originally reported, we ask that you contact us and provide the updated and accurate information. If this occurs, please be prepared for a substantial change in the expected parent contribution. This will result in a corresponding change in the amount of financial aid awarded and one's eligibility for scholarship assistance.

Students who indicate on the financial aid application that one or more siblings will be enrolled in a Degree Program at least half-time in a postsecondary educational institution during the same academic year may be required to complete a Sibling Enrollment Form for each sibling enrolled. The form is to be completed and signed by the Registrar of the sibling’s institution only after the sibling has matriculated for the academic year. If this form is required, failure to submit documentation of enrollment may result in a cancellation or reduction in the financial aid award.

4. Self-Supporting Status

Harvard Medical School requires parental information when considering eligibility for institutional need-based scholarships and loans. Failure to provide parental information means that the student is forfeiting his/her candidacy for Harvard Medical School scholarships and loan programs.

If a student feels that his/her particular circumstances warrant a reconsideration of the required level of parent contribution, s/he may submit a petition to the Financial Aid Committee through the financial aid appeal process. Waivers of this requirement for parent information are very rare.

Because the eligibility criteria for many federal and private financial aid programs do not take parent information into account for graduate and professional students, students can be considered for the Federal Direct Unsubsidized Loan, the Federal Direct Graduate PLUS Loan, the Federal Work-Study Program and private supplemental loan programs without submitting parent information (see Option II). For federal programs, with limited funding allocations such as the Federal Work-Study Program, it is important to realize that being considered for programs does not guarantee receipt of funds.

5. Non-Custodial Parents

In order to be considered for Harvard scholarships and loans, the student’s custodial parent must complete the parent sections of the CSS Profile Application. The non-custodial parent must file the Non-Custodial Profile Application. Each biological parent must also submit tax returns to the Financial Aid Office.

In cases where the whereabouts of a parent is unknown, there has been extremely limited or no contact with a noncustodial parent for a significant period of time, or there are legal orders that limit the non-custodial parent’s contact with the student, the Financial Aid Committee may waive the requirement for that parent’s financial disclosure provided that the family's situation is adequately documented. Students requesting this waiver must complete the Petition for the Waiver of Non-Custodial Parent Information. A letter from a third-party professional (ex. attorney, clergy, social worker, or family physician) who has personal first-hand knowledge of the family's situation and history is also required.

Unwillingness of a noncustodial parent to contribute financially is not a sufficient reason to file this petition. In the event that a biological parent is deceased, his/her whereabouts are unknown and/or the petition to waive the non-custodial parent information has been approved, the surviving parent’s spouse, if any, is required to provide financial data as the second parent. If the surviving parent is not remarried, then only one parent’s financial information will be considered.

6. Replacing a Missing Parent Contribution

Students who anticipate that their parents will not provide the full expected parent contribution must plan in advance how they will finance Harvard Medical School without this assistance. Harvard Medical School policy does not ordinarily provide for replacing a missing calculated parental contribution with institutional aid; exceptions to this policy are considered by the Financial Aid Committee through the appeal process and are very rare.

Students may request to replace a missing family contribution with additional unsubsidized student loans (Federal Direct Unsubsidized Loan, Federal Direct Graduate PLUS Loan and/or private supplemental loans). In addition, students also have the option of using outside scholarships or Federal Work-Study earnings to meet this gap.

Spousal Contribution

The spouse of a married student is expected to contribute to the support of the student as well as to contribute to his/her own support and that of any children. The need analysis formula used for calculating the student/spouse contribution makes allowances for the household expenses when determining the portion of the couple’s resources available for educational expenses.

If the available resources are insufficient to support the spouse and children, it may be possible to use unsubsidized student loan programs, Federal Work-Study earnings, and/or outside scholarship to help meet family expenses. A student in this situation should speak with his/her Financial Aid Officer for more information. Harvard Medical School scholarship and loans are not available to meet costs attributable to persons other than the student.

Note: Option I applicants who are married or planning to become married by August 2024 will need to complete the Fiancé/Spouse Financial Resources Application.

HMS Middle Income Initiative

Incoming Class Fall 2024

Harvard Medical School waives the parental contribution (PC) for students whose total parental income earned in the US or Canada (including untaxed income) is $150,000 or less and whose assets are typical for those income levels. For students whose total parental income earned in the US or Canada (including untaxed income) is between $150,000 - $200,000 and whose assets are typical for those income levels, Harvard Medical School reduces the expected parent contribution as noted below.

Total income under $150k: PC waived
Total income $150-175K: PC reduced 40%
Total income $175-200K: PC reduced 20%

Continuing Students

Total income under $100k: PC waived
Total income $100-110K: PC reduced 90%
Total income $110-120K: PC reduced 80%
Total income $120-130K: PC reduced 55%
Total income $130-140K: PC reduced 40%
Total income $140-150K: PC reduced 25%

Sample Award Packages

Applying the policies described above, the following shows three types of financial aid awards given in the 2024-25 academic year. It is important to note that if the students in these sample cases were unable to obtain the calculated family contribution, they would need to make up the shortfall from other resources. These resources might include additional unsubsidized loans or Federal Work-Study earnings.

International and DACA-eligible students would receive similar awards, with federal loan programs replaced by an additional HMS loan or private loan.

Sample Packages for Pathways Students 2024-25

Year 1
Year 3
Year 5

Description	Amount
Tuition and Mandatory Fees	$77,423
Cost of Living and Loan Fees	$30,715
Total Cost of Attendance	$108,138
EFC	$35,725
HMS Need-Based Aid Scholarship (Tuition and Mandatory Fees - EFC)	$41,698
Combined Loans	$30,715
Total Aid	$72,413

Description	Amount
Tuition and Mandatory Fees	$76,898
Cost of Living, Loan Fees and National Board Fees	$36,730
Total Cost of Attendance	$113,628
EFC	$35,725
HMS Need-Based Aid Scholarship (Tuition and Mandatory Fees - EFC)	$41,173
Combined Loans	$36,730
Total Aid	$77,903

Description	Amount
Tuition and Mandatory Fees	$14,266
Cost of Living, Loan Fees, and National Board Fees	$34,600
Total Cost of Attendance	$48,866
EFC	$35,725
Combined Loans	$48,866
Total Aid	$48,866

MD Students do not qualify for HMS need-based scholarship assistance beyond their fourth year.

Appeals Process

A student who feels that exceptional family circumstances have not been fully considered in the review of their application may discuss those concerns with their Financial Aid Counselor. Changes in circumstances and income must be carefully documented. Appeals for increases to the standard student budget are rarely granted. When this is the reason for the appeal, the student expenses above the standard budget must be well-documented; receipts are required.

Students planning to file appeals should present their petitions in writing to a Financial Aid Office no later than April 15th (incoming students) or October 1st (all students). The Assistant Director will review the appeal in accordance with HMS policy guidelines. The Committee will review the appeal and then render a decision. For confidentiality, names will not be used when cases are discussed. The Committee's action will be final.