If you are planning to use financial aid as a means of paying your
tuition, you need to complete the Free Application for Federal Student
Aid (FAFSA) or renewal FAFSA at www.fafsa.gov each academic year.
sure to indicate that you want your information released to Central
Michigan University College of Medicine, by using the following school
If this is your first time applying, you will need to
request a pin number (www.pin.ed.gov.) As a medical student, you are
considered independent for financial aid purposes.
If you need help completing the FAFSA, contact the U.S. Department of Education at: 800-433-3243.
you reported on the FAFSA, (income, assets, number of family members,
number in college, etc.) is applied to a formula established by the U.S.
Congress. The formula calculates your family's ability to pay for your
educational expenses and produces a figure that is referred to as your
Expected Family Contribution (EFC). Your financial need is the
difference between your cost of attendance (COA) and your Expected
Family Contribution (EFC). This calculation is often expressed as
Cost of Attendance – EFC = Need based Eligibility
award package may consist of the federal financial aid you are eligible
to receive and any institutional scholarship(s) or non-institutional
(outside) assistance you are receiving. Your total award package cannot
exceed the cost of attendance determined by the Central Michigan
University College of Medicine (CMED). Federal regulations require you
to inform (CMED) of all educational assistance you may be receiving.
Failure to do so can result in a financial aid over award and require
you to repay funds. Your award package may need to be recalculated and
you may even owe a repayment.
Your award will be made on the
assumption that you will be enrolled as a full time student in eligible
coursework, are not a defaulted borrower of any student loan funds, nor
owe a repayment to any student financial aid program and are maintaining
satisfactory academic progress (SAP). Your financial aid will be
canceled if you are in default, owe a repayment to a student financial
aid program or are not meeting satisfactory academic progress (SAP)
Cost of Attendance
The Cost of
Attendance (COA) is the cost of a student's medical education for an
academic year, as calculated by the Central Michigan University College
of Medicine. It takes into account tuition, fees, books, supplies,
estimated room and board, personal, and transportation costs. The COA
covers expenses for only the period of enrollment. For example, most
first-year students are enrolled for ten months. Financial aid covers
expenses only for those months. Periods of continuous non-enrollment are
not included and are not funded. Your financial aid is based on the
cost of education, a standard allowance, and not on your preferences and
The cost of education does not include consumer
debts, such as car payments, bank loans, or credit card obligations
which students may have established prior to medical school. Students
should try to eliminate previous debts before beginning their medical
Married students and/or students with dependents should
note that federal regulations stipulate that your budget for the year
only include living expenses solely for you. The expectation is that the
living expenses of your spouse and dependents will be met through
spouse’s earnings. In exceptional circumstances, students may apply to
receive additional funds for child day care costs and for certain other
expenses. Students will be required to provide documentation for any
Estimated Tuition and Fees for First Year Students
||Out of State|
|Tuition and Fees
|Room, Board Transportation and Personal
* Health Insurance fees will be added to your charges if you are not covered by other insurance.
** Fees charged by the Direct Loan program at disbursement.
Scholarships and Grants
scholarship funds are administered by CMED are based on financial need
and/or academic potential as ascertained by the Scholarship Committee.
Preference is given to those students who meet the mission of the school
and the criteria outlined by each scholarship description. Students
accepted to CMED will be emailed directly when the scholarship
application becomes available each year.
National Health Service Corps Scholarship Program
program provides tuition, educational expenses, and a monthly stipend
on an annual basis to students who will serve with the National Health
Service Corps not less than one year for every year of scholarship
support or two years, whichever is greater. Students must be full-time
and maintaining satisfactory academic progress.
To request an application, call 1-800-221-9393.
Armed Forces Health Professions Scholarship Programs
is available on Navy, Air Force, and Army Health Professions
scholarships in the Student Affairs Office. These scholarships provide
educational expenses and a monthly stipend. Students who apply and are
accepted accrue active military duty on a year-to-year basis, with a
minimum of two years’ service obligation. There are also grants
available during residency.
William D. Ford Direct Loan
Direct Loans (also known as Stafford Loans) are low-interest
loans for students to help pay for the cost of their education. The
lender is the U.S. Department of Education rather than a bank or other
CMED students are able to borrow loans to
cover their total Cost of Attendance minus any other financial
assistance they receive.
- For first- year medical students, the maximum amount of Direct Loan they can receive is $40,500.
- The aggregate loan limits (maximum outstanding total subsidized and
unsubsidized Direct Loan debt) for medical students is $224,000. This
amount includes loans for undergraduate and graduate study.
more than $65,500 of this aggregate amount may be in the form of
subsidized loans (interest-free). You will however, be charged interest
on the unsubsidized portion of the Direct Loan while you are enrolled in
- Repayment of Direct Loans begins six months after you graduate or cease to be enrolled at least half-time.
The current interest rate is 6.8%. Students pay 1% at the time of disbursement, and receive 99% of the gross loan amount.
Federal Grad PLUS Loan
Grad PLUS Loans are unsubsidized, government-backed educational loans
with no limits available to graduate students who file the FAFSA and
pass a credit check.
CMED must determine your William D. Ford
Direct Loan eligibility before you may borrow under the Grad PLUS
program. The current interest rate is 7.9%.
- The loan limit for
each year is the annual cost of attendance (COA) minus other financial
assistance. If your requested amount is too high, it will be reduced to
fit within the COA budget.
- As with William D. Ford Direct Loans
and private loans, interest begins to accumulate at the time the first
disbursement is made. You may choose to pay the interest while in school
in order to avoid "paying interest on interest" (capitalizing
- The Federal Direct PLUS Loan Program requires a 3%
origination fee and a 1% default fee. Students will pay the full 4% at
the time of disbursement, and so will receive 96% of the gross loan
To apply for a Direct Loan, a
medical student is required to file a FAFSA and complete a master
promissory note (MPN) and Entrance Counseling. You can complete both
your Master Promissory Notes (Direct loan and Graduate PLUS Loan) and
Entrance Counseling online after signing in at: www.studentloans.gov.
Please allow 15-20 business days to process a Federal Direct Loan or
Graduate PLUS Loan. For more information about the Direct Loan Program,
see their website:
Monitor the Progress of your Financial Aid Request
You may check the status of your financial aid via CentralLink:
- Login to CentralLink with your CMU global ID and password at: https://centrallink.cmich.edu
- Select "My Account" and then select "Financial Aid Status" under "Finances".
- Then select the current academic year.