How To Apply For Aid
The School of Medicine awards approximately 25 full-tuition MD scholarships per year.
All students accepted are considered for scholarly awards. Awards are made by a University Committee 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.
It’s relatively easy to apply for need-based financial assistance (scholarship/grant) at Perelman. 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:
- The Free Application for Federal Student Aid (FAFSA) Penn's institutional code #003378
- CSS PROFILE Perelman's institutional code #2951
- All documents should be uploaded via College Board's Institutional Documentation Service (IDOC)
Recommended Deadline: April 1st (applications will be accepted after this date)
Due to limited University resources, we must consider each student's entire financial situation. 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.
*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.
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 medical school. However, if there are significant changes in your or your families original financial standing while in medical 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.
Need 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).
The 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 Financial Aid Office 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 during the summer.