The financial aid awarded you by the College of Medicine is only for the time period stated on your student aid summary and can be used only at The Pennsylvania State University College of Medicine. You must submit a new or renewal application for each additional enrollment period. Students are encouraged to file their application using the FAFSA web site. Completed federal tax information should be used and the application submitted by February 28th for maximum aid consideration. The amounts and types of financial assistance can change from year to year.
The Federal School Code for the College of Medicine is 003329.
If you receive financial assistance, including scholarships, loans and grants, that is not included on your financial aid notification from the Office of Student Aid, you must report these amounts to the Office of Student Aid. Federal regulations require that these funds be taken into account in determining your eligibility for federal student aid. If the assistance that you receive from private or outside sources results in an over award, an adjustment will be made to your financial aid award so that your total financial assistance is not greater than the institutionally determined Cost of Attendance.
Your FAFSA will indicate that you are an independent student for eligibility consideration for Federal Loans such as Stafford and Grad PLUS. However, you are encouraged to provide parental financial data on the FAFSA for eligibility consideration for PSCOM need-based scholarships and loans.
Students are notified of their eligibility for financial assistance in April.
Find more information about financial aid for MD students.
Sources of graduate funding at Penn State include the Graduate School, academic departments, student financial aid and external agencies. Most doctoral students at the Hershey campus are granted admission and provided support by their graduate program. There are services available at The Office of Graduate Fellowships and Awards Administration to assist continuing graduate students to locate and apply for fellowships from external agencies.
Graduate research assistantships are provided for qualified students. Assistantships include stipend, tuition remission, and a subsidy for medical insurance. Fall and spring assistantship and summer support is $26,196 during the 2015-16 academic year. At the Hershey campus most assistantships are half-time and require the student to register for 9-12 credits.
This level of support is sufficient to allow students to devote full-time effort to graduate studies and research. A graduate assistant may not accept concurrent employment inside or outside the University without permission from the Department Head and the Graduate Academic Program Chairperson.
Fellowships and Traineeships
Recipients must be superior students and meet University criteria in order to be considered eligible for an award. Fellows and trainees are required to carry at least 9 credits of course work each semester or the equivalent in research, receive stipends that vary with the awards, and usually receive grants-in-aid of tuition. They may not accept employment during the period of their appointments (except with special permission for training purposes). In some cases, a recipient will be expected to engage in research in a broad field specified by the individual Fellowship or Traineeship. There is no sharp distinction between a fellowship and a traineeship. Scholarly excellence is always a major consideration and usually the most important criterion in selecting fellowship recipients. Other considerations, in addition to scholarly excellence, may be taken into account in awarding traineeships.
The Graduate School Funding Programs
The Graduate School recognizes excellence in graduate education through a variety of award programs for students and faculty with funding derived from institutional resources as well as gifts from donors. Some awards are selected centrally from nominations and applications that are submitted to the Graduate School (though most require support from academic programs) and others are offered by way of funding allocations to colleges in order to support recruitment and retention of high-achieving students.
College of Medicine Fellowship Incentive Program
Doctoral students at the College of Medicine who submit and receive an externally funded fellowship are eligible for a College of Medicine Fellowship Incentive in the amount of 5% of the fellowship stipend