As a renowned academic institution, the Medical College of Wisconsin (MCW) is committed to providing financial assistance to talented students who demonstrate financial need. MCW offers a comprehensive range of financial aid options tailored to the diverse needs of students pursuing various medical education programs.
Eligibility Criteria
To be eligible for financial aid at MCW, students must:
- Be a U.S. citizen, permanent resident, or non-citizen eligible for federal student aid
- Have a high school diploma or equivalent
- Demonstrate financial need through the Free Application for Federal Student Aid (FAFSA)
- Be enrolled in an eligible degree-seeking program li>Maintain satisfactory academic progress
Types of Financial Aid
MCW offers a wide range of financial aid options, including:
Scholarships
MCW provides several scholarships based on academic merit, financial need, or other criteria. Scholarships do not require repayment and can significantly reduce the cost of tuition and expenses.
Grants
Grants are awarded to students who demonstrate significant financial need. Grants do not need to be repaid and provide valuable support for tuition, fees, and living expenses.
Loans
Loans are borrowed funds that must be repaid with interest. MCW offers both federal and private loans with varying interest rates and repayment terms.
Work-Study Programs
Work-study programs allow students to earn wages while attending school. Students work on-campus or off-campus jobs approved by MCW and earn wages to help cover educational expenses.
Determining Financial Aid Packages
MCW calculates financial aid packages based on a student’s Cost of Attendance (COA) and Expected Family Contribution (EFC). The COA includes tuition, fees, living expenses, books, and other educational expenses. The EFC is calculated from the information provided on the FAFSA and represents the amount of money the student’s family is expected to contribute to their education.
The financial aid package is designed to cover the difference between the COA and the EFC. Eligible students may receive a combination of scholarships, grants, loans, and work-study programs to meet their financial needs.
Applying for Financial Aid
To apply for financial aid at MCW, students must complete the FAFSA by the established deadline. The FAFSA can be submitted electronically or by mail. MCW’s school code is 003859.
In addition to the FAFSA, international students may need to submit additional documentation, such as a certified translation of their transcripts and proof of financial support.
Estimated Cost of Attendance
The estimated Cost of Attendance (COA) for the 2023-2024 academic year at MCW is as follows:
| Program | COA |
|---|---|
| Medical School | $84,974 |
| Physician Assistant Studies | $73,460 |
| Speech-Language Pathology | $65,940 |
| Occupational Therapy | $64,126 |
Please note that these costs are estimates and may vary slightly from the actual COA.
Tips and Tricks
To maximize your chances of receiving financial aid at MCW:
- Apply for the FAFSA on time
- Complete the FAFSA accurately and completely li>Explore scholarship opportunities outside of MCW
- Consider work-study programs to earn additional income
- Contact the MCW Financial Aid Office with any questions or concerns
Common Mistakes to Avoid
Avoid these common mistakes when applying for financial aid:
- Not completing the FAFSA on time
- Providing inaccurate or incomplete information on the FAFSA
- Assuming you will not qualify for financial aid
- Not applying for scholarships
- Borrowing more money than you need
Conclusion
MCW is committed to providing financial assistance to students who demonstrate financial need. By exploring the various financial aid options available and applying for aid on time, students can reduce the cost of their medical education and pursue their academic goals with confidence.
If you have any questions or need additional information, please contact the MCW Financial Aid Office at 414-955-8039 or [email protected].
Additional Resources
Tables
Table 1: MCW Financial Aid Timeline
| Task | Deadline |
|---|---|
| Submit FAFSA | March 1 |
| Apply for scholarships | October 15-April 15 |
| Contact Financial Aid Office | Ongoing |
Table 2: Comparison of Financial Aid Types
| Type | Repayment | Interest |
|---|---|---|
| Scholarships | No | No |
| Grants | No | No |
| Federal Loans | Yes | Low |
| Private Loans | Yes | Variable |
Table 3: Estimated COA and EFC for Medical School Students
| Income | EFC | COA | Financial Need |
|---|---|---|---|
| $0-$30,000 | $0 | $84,974 | $84,974 |
| $30,000-$60,000 | $10,000 | $84,974 | $74,974 |
| $60,000-$90,000 | $20,000 | $84,974 | $64,974 |
| $90,000+ | $30,000 | $84,974 | $54,974 |
Table 4: Common Scholarships Offered at MCW
| Scholarship | Criteria | Amount |
|---|---|---|
| Dean’s Scholarship | Academic merit | $10,000-$25,000 |
| Minority Scholarship Fund | Underrepresented minorities | $5,000-$15,000 |
| Rural Physician Scholarship | Commitment to rural medicine | $20,000 |
| Research Scholarship | Research experience | $5,000-$10,000 |
Always remember, investing in MCW is an investment in a brighter future. By pursuing a medical or health sciences education at our institution, you’re not only shaping your career but also contributing to the well-being of our communities. Let us assist you in unlocking the doors to your educational dreams. Take the first step today, and schedule your campus visit. We look forward to guiding you on this transformative journey.