Refunds
Need money to cover spring living expenses?
Students who expect to have a credit balance once all anticipated aid is disbursed may apply for a spring living expense refund against the future credit.
Complete a Refund/Cash Advance Request Form
2025-26 Financial Aid Application
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.
Deadline: May 1, 2025
[Address: Harvard University Medical School, Boston, MA].
View the 2025-26 Financial Aid Application Checklist
Repayment Strategies for Graduating Medical Students
Please join Johnathan Chancellor, Senior Education Debt Management Specialist from the Association of American Medical Colleges (AAMC) for a session on how to manage your student loans after graduation.
Date: April 15, 2025
Time: 12:00pm ET
Zoom link: https://aamcorg.zoom.us/j/93393230020?pwd=aze7 YniMyQoCKMPKO0mW5KnD8N5dv4.1
Note: This session is mandatory for graduating MD students who have HMS educational loan debt. Topics Include:
• Know your loans
• What to do after graduation
• Repayment plans
• Repayment in residency
Tax Resources
1098-T Forms will be available through the Student Accounts Office by the end of January 2025. Find out more about the 1098-T form on the Harvard University Student Financial Services website.
The HMS Financial Aid Office is unable to provide tax advice as we are not tax experts, but here are helpful websites and information to assist you with your tax questions.
• Harvard University Tax Website
• Harvard International Office Tax Information for International Students
• Internal Revenue Service (IRS)
• Massachusetts Department of Revenue
Photo by Katrin Bolovtsova
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.
Student Loan Interest Payments
If you made federal student loan payments in 2024, you may deduct a portion of the interest paid on your 2024 federal tax return.
View details.
Financial Aid Fact
Student Aid Index (SAI) number is calculated using the information provided on your FAFSA form. It is a formula driven index number ranging from -1500 to 999999.
The SAI formula calculates your total financial resources from your tax return as well as the net worth of your assets. It deducts the minimum amount needed for your normal annual living expenses. The remaining amount may be allocated for college expenses.
The SAI is not the dollar amount of aid you will receive or what you or your family is expected to provide.
by Jimmy Chan
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Monthly Highlight
Loan Forgiveness
Loan forgiveness programs provide debt relief for students who are planning to go into specific fields and/or public service. Below is a list of loan forgiveness options.
HMS Loan Forgiveness Programs
• HMS Public Service Loan Forgiveness – For graduating students who have a demonstrated career path in public service.
HMS Primary Care Loan Forgiveness Program – For graduating students who match and have demonstrated academic excellence and commitment to the field of primary care.
Applications are due April 7,2025 for May 2025 graduates.
Federal and State Loan Forgiveness Programs
• Public Service Loan Forgiveness (PSLF)
• National Health Service Corps
• National Institutes of Health
• The Specialty Education Loan Repayment Program
• AAMC – Offers a list of various federal and state options.
Visit https://meded.hms.harvard.edu/md-loan-forgiveness for more details on these programs.