Costs and Financial Aid

Graduate medical education is a major investment, and we understand that you may have questions and concerns about financing it. We’re here to help you explore your options for financial aid and connect you with the resources to help with the cost of attendance.

Graduate Program Cost of Attendance (COA) 2019-2020

PhD Programs Masters Programs




Books and equipment




$7,754 $7,754










Miscellaneous $1,994 $1,994
Federal Loan Fees $219 $1,800
Health Insurance $2,024 $3,848




*Reflects tuition cost for full-time enrollment for Fall, Spring, and Summer terms.

Fall Term $19,325
Spring Term $19,325
Summer Term $1,200

Students enrolled less than full-time will be charged $1,465 per credit hour.

Additional Allowable Costs

With appropriate receipts, the following expenses may allow for an increase in COA:

  • Childcare expenses
  • Automobile repairs that are not considered routine maintenance
  • Health care expenses not covered by medical insurance that are deemed to be extraordinary and unanticipated

How is Cost of Attendance determined?

Cost of Attendance is the total amount of aid, including scholarships, grants and loans, that you are eligible to receive for the entire year. The Cost of Attendance is derived based on living expenses in the Winston-Salem area and information from student surveys. The amount provided each year allows a Wake Forest School of Medicine student to live comfortably alone, not luxuriously. Cutting costs in any way, including getting a roommate, budgeting money for food and other expenses, and living as frugally as possible are recommended.

It is not required that you accept the full Cost of Attendance each year. The amount you accept is flexible. You are allowed to return funds if you accept too much or request more if you run short as long as you stay within the Cost of Attendance.

Federal Loan Disbursement Dates (Refunds to students are direct-deposited within 14 days of disbursement date)

Summer Fall Spring
PhD 5/17/2019 8/9/2019 1/9/2020
MS 5/17/2019 8/9/2019 1/9/2020

120 Day Federal Loan Excess Fund Return

Summer  9/11/2019
Fall 11/24/2019
Spring 4/27/2019

Financial Aid and Scholarships

Scholarship Support for Master’s Program Students
Scholarship support is awarded at the time of acceptance and is outlined in the student’s offer letter.  Full-time graduate students receive a laptop computer.

Scholarship Support for PhD Program Students
Students accepted to one of our PhD programs will receive a full tuition scholarship, health insurance supplement, laptop computer, and stipend to cover living expenses (2019-20 PhD Stipend: $29,651).

How to apply for Federal Student Aid:


How do I manage this money?

The Office of Financial Aid is available to meet with you one-on-one to talk about managing these disbursements. Due to the strict amount allowed for each year, it is important that you have a spending plan. There are many creative ways to manage these funds. For example, you might pay rent for the entire semester when you receive your first disbursement and again in January. Another way to make your money last is to deposit your disbursement into a savings account and "pay" yourself monthly or bi-monthly.