Refunds
Need money to cover summer living expenses?
Students who expect to have a credit balance once all anticipated aid is disbursed may apply for a summer living expense refund against the future credit.
Cash advances will be processed in mid-June for students with complete financial aid applications and whose programs begin in July.
Complete a Refund/Cash Advance Request Form
2025-26 Financial Aid Application
Financial aid award letter notifications will be emailed to continuing students in June on a rolling basis.
To check the status of your financial aid application, log into the HMS Financial Aid Portal and go to the documents link.
The HMS Financial Aid Application for the 2025-26 academic year and the 2025-26 FAFSA is now available. Be sure to list “E00472” for the HMS school code.
[Address: Harvard University Harvard Medical School, Boston, MA].
View the 2025-26 Financial Aid Application Checklist for details.
Deadline: June 2, 2025
Understanding Your Cost of Attendance (COA) Budget
What’s Included in the COA?
• Tuition and fees
• Housing and food
• Personal expenses
• Books and supplies
• Transportation
• Loan fees
For more details, view Master’s COA Budgets Explained.
Why the COA Matters
Determines Your Financial Aid Eligibility: The financial aid office uses your COA to figure out how much aid you’re eligible to receive.
Caps Your Total Aid: You can’t receive financial aid exceeding your COA. This includes grants, loans and scholarships.
Helps You Plan Your Finances: Understanding your COA helps you create a realistic budget and make informed decisions about your spending.
Understanding the Cost of Attendance (COA) is crucial for planning your finances and maximizing your financial aid options. The COA is more than just tuition; it's an estimate of the total expenses you'll incur during an academic year as a student.
View the 2025-26 COA.
How is the COA Calculated?
The HMS Financial Aid Office determines the living expense budget portion of the COA. Below are how these expenses are calculated.
• Institutional Surveying: The Financial Aid Office sends a living expense survey to all students. Local housing markets including Harvard Real Estate are surveyed.
• Consumer Price Index (CPI): This is utilized to aid in determining living costs, transportation and other expenses.
• Standard Budgeting: The calculation follows federal guidelines and institutional policies.
• Financial Aid Committee: Made up of faculty, staff, and students who vote on the final COA budget.
IDR Plan Court Actions
A federal court has prevented the U.S. Department of Education from implementing parts of the Savings on a Valuable Education (SAVE) Plan and other income-driven repayment (IDR) plans.
As of March 26, 2025 the online IDR application is available for eligible borrowers to apply for IBR, PAYE, and ICR Plans. The online loan consolidation application is also available again.
View details
Federal Loan Updates
2025-26 FAFSA Form
The 2025-26 Free Application for Federal Student Aid (FAFSA) is now available to complete for the 2025-26 academic year.
View details.
2025-26 Federal Loan
Financial Aid Fact
The first version of the FAFSA was introduced in the early 1980’s. It aimed to gather consistent financial information for all applicants which would be used to determine their eligibility for federal student aid.
Early on the FAFSA had some challenges.
• Used to be a multi-page document in carbon copy form.
• Had to be handwritten with special ink requirements.
• The FAFSA had to be mailed which caused delays and lost applications.
Today’s FAFSA is now significantly easier to use than in the past due to technological advancements.
by Jimmy Chan
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Outside Scholarship Tips and Tricks
Before you Start
Start Now: Don’t wait. The earlier you start, the better.
Know Yourself: What makes you special?
Finding Scholarships
Use Free Websites: Fastweb and College Connection Scholarships.
Explore HMS External Scholarships Brochures.
Think Local: Check with businesses and groups in your city or town.
Look for “Your” Scholarships: Find ones for your academic program, background, etc.
Ignore Fees: Never pay to find scholarships.
Applying
Follow Directions: Read the rules and do exactly what they say.
Write Strong Essays: Show your personality and tell your story.
Proofread: Check for mistakes.
Apply, Apply, Apply: The more you apply, the better your chances.