Office of Admissions and Financial Aid >

Financial Aid

How To Apply

At the Perelman School of Medicine (PSOM) at the University of Pennsylvania we offer both merit and need based funds.

Merit-Based Scholarships

The PSOM awards approximately 34 full-tuition scholarships per year.

All students accepted into the PSOM are considered for merit awards. Awards are made by the University Interdisciplinary Panel during mid April.

Selection criteria include: outstanding academic performance and achievement, a broad range of intellectual interests, demonstrated leadership, commitment to interests other than academic work, and unique life experiences that may contribute to a medical career.

Need-Based Scholarships

It’s relatively easy to apply for need based financial assistance (scholarship/grant) at Penn Med. We use the financial information that you provide for yourself, your parent(s), and if applicable, your spouse. Applicants for financial aid are required to submit the following:

  1. The Free Application for Federal Student Aid (FAFSA). Penn's institutional code #003378
  2. The Need Access Financial Aid Application*(fee of $28 for up to 16 school applications)
  3. Additional Documents:
    • parents' 2013 federal income tax return, all pages and schedules filed**
    • parents' 2013 W-2 Form(s)**
    • students' and spouses’ (if applicable) 2013 federal income tax return, all pages and schedules filed
    • students' and spouses’ (if applicable) 2013 W-2 Form(s)

Please e-mail all additional documents to or send a hardcopy: Perelman School of Medicine at the University of Pennsylvania, Financial Aid Office, Jordan Medical Education Center, 6th Floor, 3400 Civic Center Blvd. BLDG 421, Philadelphia, PA 19104-5162.

*The Need Access web link above will transfer you to the privately operated website of NeedAccess. NeedAccess is not affiliated with the University. Several Penn professional schools use the NeedAccess financial aid application product because it enables them to review and notify students of financial aid eligibility in a timely fashion. Neither Penn nor Access Group receives compensation, benefits, or other considerations as a result of Penn students using this service.

Recommended Deadline: April 9 (applications will be accepted after this date)

Due to limited University resources, we must consider each student's entire financial situation. Accordingly, PSOM requires applicants applying for need based financial assistance and their families to complete the parental, student and spouse (if applicable) sections of the Need Access Financial Aid Application. As a graduate school applicant you are considered independent under federal guidelines and are only required to complete the student sections on the FAFSA.

Your financial aid application will not be evaluated unless the required parental/spousal information is provided. This is so even though all graduate students are technically "independent" under federal guidelines. We will take imputed parental contribution into account when awarding financial aid, but students may be able to make that contribution up in the form of an additional loan.

For Students and Spouses of Students Who Do Not File 2013 Tax Returns, please complete and submit a Student Tax Waiver.

For Parents Who Do Not File 2013 Tax Returns, please complete and submit a Parent Tax Waiver.

**In order to fully evaluate the applicant’s total financial situation, in cases of divorced, separated, or unmarried parents, the School of Medicine requires information and tax returns for both custodial and biological parents. 

The School of Medicine reserves the right to request additional information in order to perform their analysis.

Processing Applications

Students receive a four-year need based scholarship award determined by our financial need analysis. It is rare that this amount will be increased while you are in Med School. However, if there are significant changes in your or your families original financial standing while in Med School, you can appeal for additional funding. Any additional support will depend on available funding at that time.

Completed applications take approximately 2-3 weeks for packaging to take place. We will begin announcing awards to first year students on or around April 22.

Needs Analysis

Needs Analysis is a process of evaluating the ability of each student and the student’s family to pay the cost of education (student budget). Financial need is determined by subtracting the amount the student and family can afford to contribute (as determined by the need analysis formula and financial aid policy) from the total cost of education (as reflected in the student budget).

financial need

The PSOM Financial Aid Office determines the amount of financial need for each student, and then puts together a financial aid package to meet that need.

After analyzing your financial aid application and your student budget (cost of education), the School of Medicine Financial Aid Office will determine whether or not you require financial aid, and will send you an award letter proposing a package of assistance.

Changes in Your Financial Circumstances

Report changes in your or your family's financial circumstances to the Office of Admissions and Financial Aid as soon as they occur. Changes in employment status of student, spouse, and/or parents and changes in college plans of spouse or child (if applicable), and changes in student marital status are examples of circumstances that may affect your financial aid award.

Continuing students who are applying for financial aid for the first time or who are requesting reconsideration for need based aid are required to file all the documents listed above. Awards will be announced late summer.

Page Updated: 05-May-2015