Full Tuition Scholarship
All CCLCM students receive a full scholarship that covers tuition and fees. In the research thesis year, a continuation fee equal to 5 percent of tuition is required; this cost also is covered by the full tuition scholarship.
Outside scholarship money is limited. It is your responsibility to take the initiative and work with the Director of Financial Aid to identify and pursue any available funding sources. Scholarship information is also available at the library and online:
TIP: When searching for outside scholarships, keep a list of those for which you are eligible. If you find one that requires you to be a second- or third-year medical student or the deadline has just passed, record all the important information about the scholarship: who's offering it, how to contact them, application process, deadline and requirements. That way you can apply in the future!
Armed Forces Scholarship
The Armed Forces Health Professions Scholarship Program (HPSP) provides financial help to medical students in exchange for active duty service as a medical officer (physician) in the armed services (Air Force, Army or Navy). Note that the stipend portion of the scholarship is considered taxable by the IRS.
Visit your local recruiter or these sites for more information:
National Health Service Corps Scholarship
This is a competitive federal program of service-obligated scholarships whose mission is to provide primary healthcare to the neediest populations. Priority is given to applicants from disadvantaged backgrounds who are likely to continue to practice in health professional shortage areas following their service obligations. The minimum service obligation is two years. Note that the stipend portion of the scholarship is considered taxable by the IRS.
Unsubsidized Direct loans are low-interest loans made to you by the U.S. Department of Education. All new students should complete one Master Promissory Note for the Unsubsidized Federal Direct Loan.
Alternative Loan Programs
Currently, many lenders are not participating in private alternative loan programs. In the past, these loans helped student meet the cost of attendance after exhausting funds from the federal Direct Loan program. Contact the Financial Aid Office to learn which lenders may still be offering alternative loans.
Graduate PLUS Loan Program
The Federal Graduate PLUS Loan is a federally guaranteed student loan to help meet costs that exceed Federal Direct Loan limits. Previously available only to parents of undergraduates, this loan is now available to graduate students that meet federal eligibility requirements. To qualify, your credit report cannot reflect any of the following negative items:
- Currently 90 days delinquent on repayment of any debt
- Debt discharged in bankruptcy during the past five years
- Evidence of a default, foreclosure, tax lien, repossession, wage garnishment or write-off of a Title IV debt during the past five years
Borrowers are given up to 10 years to repay. Borrowers with more than $30,000 in combined federal loans may be eligible for extended repayment up to 25 years. You may qualify for deferment and/or forbearance on this loan. An origination fee may be charged.
Loan Disbursement / Refunds
Your Federal Direct Loan (unsubsidized and Grad Plus) and alternative loans are disbursed to the school in two installments, one for each semester. Banks electronically transfer the money to the student’s account at the school. When the tuition is paid in full, a refund check is issued to the student within 10 days if the difference between the amount of tuition owed is less than the amount of the check(s).
Students enrolled in the College program receive a full scholarship covering tuition and fees. In the fifth year of study or the year in which students do research, there is a continuation fee equal to 5 percent of tuition, which is covered by the full tuition scholarship. Our goal is to assure that financial constraints do not preclude appropriate candidates from following their dream of becoming physician investigators.
Financial aid resources to cover living expenses for CCLCM international students are limited. International students are NOT eligible for federal student loans, and most outside grants, scholarships and loans from public and private sources are restricted to U. S. citizens.
However, several private lenders do offer loan programs for international students. All lenders require a co-signer who is an U.S. citizen with good credit:
- Discover Student Loans 1.800.788.3368
- Sallie Mae 1.877.279.7172
- Wells Fargo 1.888.511.8086
- MPOWER Financing does not require a U.S. citizen co-signer
When comparing loans, look at the loan terms (such as interest rate, capitalization and deferment options). Some lenders also offer repayment benefits (such as lower interest rates for payments automatically deducted from a checking or savings account). Weigh all the benefits and then choose the lender that is right for you.
Some scholarships are available to international students. To learn more about applying for scholarships for international students, visit these online resources:
Looking for information about how to apply for financial aid? Find information about deadlines, how to apply, determining need and more.