The determination of need is actually a simple calculation. We first build your budget, Cost of Attendance (COA). This includes an estimated guide for yearly living expenses in addition to tuition and fees paid to Brown. So, the formula looks like this:
Cost of Attendance - Family Contribution = Need
If you apply for AMS institutional and federal aid, a contribution from both you (and your spouse, if applicable) and your parent(s) are displayed on your award letter. The threshold to qualify for AMS aid is determined both by your COA and by assessed family contribution figure.
If you apply for federal aid only (Direct Unsub and Grad PLUS loans) we calculate a contribution from you (and your spouse, if applicable) based upon your income and asset information before determining your financial need. Parental information is not considered.
Regardless of whether you apply for institutional or federal aid, your award notification letter displays the amounts for which you are eligible. Award notifications are ready for students in late April for those who have applied by March 1. Late filing may jeopardize receipt of institutional aid. Your award package will consist of one or more of the following:
AMS Scholarships and Loans
AMS scholarships and loans are funding from Alpert Medical School sources. Need is first met with a combination of loans called the base loan (which includes Direct Unsubsidized loans and AMS loan funds). All remaining need is met with AMS scholarship. AMS aid, therefore, includes the following:
- Alpert Medical School Scholarships
- Alpert Medical School Merit Scholarships
- Alpert Medical School Loans (Ellwood, Medical, Plitt, etc.)
- Sample Institutional Aid Award
Students may apply to borrow two types of federal loans by completing the FAFSA with prior-prior year income and present day asset and household information. Available federal loans for medical students consist of:
- Unsubsidized Direct Loans
- Graduate PLUS Loans (credit approval needed). Graduate PLUS Loan Requirements and Loan Request at studentloans.gov
- Sample Federal Financial Aid Award
We have recently added a private loan marketplace, Fast Choice, comprised of private commercial lenders for the purpose of financing medical school costs in conjunction with Brown University. Please visit the Fast Choice website for private loan comparisons. Consider discussing your options with us prior to accepting your loans. Loans available are:
- Fixed and Variable interest rate loans for medical school years
- Residency and Relocation Loans for fourth year medical student costs
You may view your aid award and make borrowing decisions online by accessing your student account at https://selfservice.brown.edu. You will be asked to decline any loans or loan amount that you are not interested in borrowing. Please note that once you have made your borrowing decisions in Banner self-service, any changes to loans that you want to make throughout the academic year must be communicated to the Financial Aid office. Paper award notifications also are issued soon after awards are posted online.
Please review our Award Guide , which describes how an aid package is determined, components of the award, loan processing and disbursement dates, billing schedule, and refunds.