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 third, fourth-, and fifth-year students with complete financial aid applications.
Complete a Refund/Cash Advance Request Form
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 MD COA Determinations.
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.
Financial Aid & Billing Information
2025-26 Financial Aid Award Letters
Financial aid award notifications are now available through the HMS Financial Aid Portal.
You may also view your financial aid award information through the My.Harvard Student Portal. Here you can:
• View your application status
• Track your documents
• Print your award letters
• View quick links to refund and loan adjustment forms
Fall 2025 Tuition Bills
Bills are due August 1st.
Find out more about the ins and outs of your tuition billing statement.
Watch a video: Your Student Bill.
Ned Palmer, MD, MPH Chief Operating Officer & Co-Founder
FINANCIAL LITERACY SPRING SERIES
The Spring Financial Literacy Series, hosted by Dr. Ned Palmer is now posted online.
Broken into 4 segments, this weekly financial literacy series provides financial information to help prepare you for your entire career as a physician.
View the Spring Financial Literacy Series online at https://meded.hms.harvard.edu/fa-videotutorials.
Dr. Ned Palmer MD, MPH is an instructor in pediatrics and faculty at the Center for Bioethics at Harvard Medical School. Join Dr. Palmer to prepare yourself with financial information for your entire career as a physician. As the Co-Founder of Panacea Financial, the national digital bank for medical students, residents, and physicians, Dr. Palmer is acutely aware of the financial struggles of medical trainees.
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
View details.
Financial Aid
Fact
The cost of Harvard’s health insurance plan is considered a mandatory fee. For full need students, this fee is covered with HMS scholarship funds.
View cost of attendance budget.
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External Scholarship Resources
Visit our newly updated external scholarships resources page. Here you can find a list of external funding sources that may interest both domestic and international students pursuing an MD at HMS. These resources include:
• External Resource Guide for both Domestic and International Students
• List of frequently used scholarship search engines
• Tips on applying for outside awards
For more information, visit External Funding Resources under Types of Funding on the HMS Financial Aid Site.