Financial Assistance

General Information
Financial Assistance Programs
Scholarships, Fellowships, and Loans

General Information

It is important to recognize that it costs considerably more to provide a quality medical education than what the student actually pays in tuition and fees. Every student attending the Indiana University School of Medicine benefits from the subsidies provided by the state of Indiana through state-legislated appropriations. These funds enable Indiana University to keep tuition and fees at the lowest reasonable amount possible. In addition, Indiana University benefits through its many generous friends and supportive organizations that assist in making a medical education affordable to all School of Medicine students.

The purpose of the School of Medicine’s scholarship and financial aid programs is to assist students whose personal and family resources are not sufficient to meet the total cost of their medical education. In order to meet the financial needs of our students in a fair and equitable manner through the most desirable aid programs possible, most financial aid programs are made available to students with documented financial need. The school cannot assure that it will be able to fully meet each student’s financial need, and therefore, some students will need to investigate other options in meeting their educational expenses.

Student eligibility for financial aid programs is determined by evaluating both the student’s and the parents’ ability to defray the cost of a medical education. To apply for most financial aid programs, regardless of the independent status of the student, students must complete the Free Application for Federal Student Aid (FAFSA) http://www.fafsa.ed.gov. The FAFSA results will be made available electronically to IUPUI. Beginning in April, students will be notified of their eligibility for all federal aid programs. Keep in mind that all financial information received is held in strict confidence and is used only to determine the student’s eligibility for financial assistance.

The Dean’s Medical Student Affairs–Student Financial Services (MSA-SFS) makes available via the MSA Web page, the IUSM Financial Aid Guide, the financial aid application materials, and other information about specific programs. Students are encouraged to investigate outside sources of aid that may be available through bank trusts, churches, and fraternal and professional organizations.

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Financial Assistance Programs

The following financial assistance programs are available to medical students attending the Indiana University School of Medicine (IUSM). Any questions you may have about these programs can be answered by contacting our office:

Medical Student Affairs
Student Financial Services Medical Sciences Building 119
635 Barnhill Drive
IU School of Medicine
Indianapolis, IN 46202-5120 Phone: (317) 274-1967
E-mail: jespada@iupui.edu
E-mail: jcloe@iupui.edu
E-mail: rflynn@iupui.edu

These programs are described in further detail in the IU Financial Aid Guide for Medical Students at http://msa.iusm.iu.edu

Federal Perkins Student Loan
Federal Primary Care Loan
Federal Subsidized Stafford Student Loan
Federal Unsubsidized Stafford Student Loan
MEDLOANS Alternative Loan Program (ALP)
Federal College Work-Study Program (CWSP)
Child-of-Disabled-Veteran Award (CVO) (available to Indiana residents only)
Scholarships to Disadvantaged Students (SDS)
Loans to Disadvantaged Students (LDS)
Indiana Primary Care Scholarship

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Scholarships, Fellowships, and Loans

The School of Medicine Scholarship Committee awards students more than two million dollars in scholarships and fellowships from annual gifts and scholarship endowments. The scholarship awards range from $500 to full tuition. While some programs have donor restrictions, the School of Medicine maintains a philosophy of equal opportunity. All students who complete the school’s Application for Financial Assistance will be considered for all of the IU School of Medicine scholarships and fellowships listed at msa.iusm.iu.edu in the IU School of Medicine Financial Aid Guide.

While most scholarships are awarded for a combination of financial need and academic achievement, some scholarships are based strictly on academic achievement and a small portion based strictly on financial need. To receive need-based awards, students must first apply for federal aid and submit parental information (regardless of independent status) on the Free Application for Federal Student Aid (FAFSA). Parental information is a factor in granting scholarships based on need or a combination of need and academics. Academic awards honor outstanding medical school achievement.

Medical students receiving the Armed Forces Health Professions Scholarships (AFHPSP) or the National Health Service Corps (NHSC) will not be considered for scholarships based on need or a combination of need and academics.

Eligibility for and renewability of scholarship assistance has been outlined by the IUSM Scholarship Committee in the following policy statement:

The receipt of any academic or combined need and academic scholarship by a student is contingent upon: (1) the student applying when required, (2) the criteria of the scholarship award, and (3) the student maintaining good academic standing. A student is in good academic standing, as seen by the Scholarship Committee, when the student is not on academic probation for any reason during the entire preceding academic year. The Indiana University School of Medicine Student Manual defines what constitutes good academic standing.

In addition, renewability will be contingent upon the student having demonstrated financial need and the availability of funds.

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