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.


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.  Student aid is limited to 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.

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

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

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

Most graduate students on the school of medicine campus receive a significant scholarship award as outlined below.

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).

Opportunities for Addiction Professionals

Due to the increased need for addiction professionals both state and nationwide, HRSA, NAADAC, and other institutions have created opportunities for addiction specialists in the workforce, specifically in healthcare settings, for loan-forgiveness and repayment programs. Below are a few of these resources to consider. 

HRSA Loan-Repayment Program - Nationwide program through the National Health Service Corps

  • Eligible clinicians may receive up to $75,000 in student loan repayment in exchange for a three-year commitment to provide substance use disorder treatment services at NHSC-approved sites.
  • You have a choice between three years of full-time or part-time service at an NHSC-approved SUD service site.

NCDHHS Loan-Repayment Program - Program through the North Carolina Department of Health and Human Services

  • This program helps mental health providers provide primary and psychiatric care to people in underserved and rural areas.
  • Based on the amount of relevant educational loans, hours worked per week, and working at an integrated care site, educational loan repayment awards are offered up to $50,000,00.
  • Two-year service commitment required at a team-based with a Health Professional Shortage Area Score of 15 or above.

Federal student-aid program

  • The remaining balance on Direct Loans is forgiven after 120 qualifying monthly payments are made while working full-time under a qualifying employer. (Government organizations, tax-exempt not-for-profit organizations, and other not-for-profit organizations providing qualifying public services.)

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.