Medical Student Cost of Attendance (COA) 2019-2020
MD Program Tuition and Fees
|
First Year (10 Months) |
Second Year (12 Months) |
Third Year (12 Months) |
Fourth Year (12 Months) |
|
|
Tuition |
$60,000 |
$60,000 | $60,000 | $58,000 |
|
Books and equipment |
$1,790 |
$1,200 |
$1,178 |
$1,178 |
| CS Exam Travel | - | - | - | $650 |
|
Food |
$4,800 | $5,760 | $5,760 | $5,760 |
| Health Insurance | $3,848 | $3,848 | $3,848 | $3,848 |
|
Lodging |
$7,000 | $8,400 | $8,400 | $8,400 |
| Miscellaneous | $1,800 | $2,160 | $2,160 | $2,160 |
| Transportation | $2,920 | $3,504 | $3,504 | $3,504 |
|
Loan fees |
$2,350 | $2,252 | $2,252 | $2,230 |
| Utilities | $2,950 | $3,540 | $3,540 | $3,540 |
|
Total |
$87,458 |
$90,664 |
$90,642 |
$90,070 |
Medical Education tuition and fees effective for the 2019-2020 aid year.
| 1st and 2nd Year 3rd Year 4th Year Secondary Application Fee Visiting Student Application Fee |
$60,000 |
Additional Allowable Costs
With appropriate receipts, the following expenses may allow for an increase in cost of attendance:
- 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
- Residency interview or relocation funding (fourth year medical students only)
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.
Financial Aid and Scholarships
We understand that medical school can be expensive and we are proud to offer a variety of MD Program specific scholarships and traditional financial aid to make your experience affordable and enjoyable. Additionally, students are encouraged to apply for forgivable service loans.
Wake Forest School of Medicine Dean's Medical Excellence Scholarship
The School of Medicine has over 100 endowed scholarships, through both Wake Forest Medical Scholars Fund and need-based scholarships. A listing of our endowed scholarships can be found on page 24 in the Financial Aid Handbook (PDF).
Applicants complete Wake Forest Medical Scholars requirements when applying to the School of Medicine. If you are selected to receive one of these awards, it will be renewed each year of medical school as long as you maintain satisfactory academic progress (SAP) and satisfactory professional conduct.
Students (incoming and current) are encouraged to apply for need-based scholarships each year while in medical school. Information needed includes the current year's FAFSA, CSS Profile, and prior-prior year tax forms for student, spouse and parents, even if the student is not claimed as a dependent.
Need-Based Scholarship Application Process
Deadline: March 15, 2019—regardless of acceptance status or class year.
| Application Submission | |
|---|---|
| FAFSA Available | October 1 |
| CSS Profile Available | October 1 |
| Financial Aid Need-Based Application Deadline | March 15 |
| Award Notification | |
| Financial aid Award Letters Emailed | Between April 10-25 |
Disbursement Dates |
|
| Federal Loan Disbursement Dates (Refunds to students are direct deposited within 14 days of disbursement date) | |
| MS1 - Fall 2018 | June 29, 2018 |
| MS2 - Fall 2018 | July 9, 2018 |
| MS3 -Fall 2018 | May 16, 2018 |
| MS4 - Fall 2018 | May 7, 2018 |
| MS1 - Spring 2019 | December 3, 2018 |
| MS2 - Spring 2019 | December 10, 2018 |
| MS3 - Spring 2019 | November 12, 2018 |
| MS4 - Spring 2019 | November 5, 2018 |
| 120 Day Federal Loan Excess Fund Return | |
| MS1 - Fall 2018 | October 16, 2018 |
| MS2 - Fall 2018 | October 22, 2018 |
| MS3 - Fall 2018 | August 27, 2018 |
| MS4 - Fall 2018 | August 20, 2018 |
| MS1 - Spring 2019 | March 18, 2019 |
| MS2 - Spring 2019 | March 25, 2019 |
| MS3 - Spring 2019 | February 25, 2019 |
| MS4 - Spring 2019 | February 18, 2019 |