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M.D. Program

Tuition and Aid

M.D. Program students in a roundtable discussion

We prioritize value and affordability

We understand the financial burden of continuing your education and obtaining your M.D. degree. We strive to create a student experience you won’t find elsewhere at an unbeatable value.

We want you to be able to choose a career based primarily on your interests, skills, and aptitudes rather than financial considerations due to student debt. Because of this, we offer a variety of scholarships, grants, and loans to reduce the burden of medical education.

2020-2021 tuition rates, fees, and other expenses

Estimated budget information is provided to allow you to completely prepare for your education. The estimated budget is the estimated cost of education-related expenses.

  • Flat tuition, which means tuition will not change in your four years of medical school. We do not increase our tuition due to inflation, and there are no additional charges.
  • Living allowance expenses include rent and utilities, food, personal and miscellaneous expenses, and transportation. Federal regulations do not allow car payments or credit card payments.
    • Mayo Clinic does not provide on-campus housing options to its students.
  • Personal expenses include clothing, laundry and cleaning, personal hygiene and grooming, recreation, renter's insurance, student health insurance, and disability insurance.
  • Transportation expenses include gas, oil, maintenance, insurance and two round trips home (economy fare).

Note: Tuition is the only budget item that is directly billed in the first year. Students should adjust the remaining budget items based on individual needs.

Student benefits

Students are offered low-cost comprehensive medical insurance, including a prescription drug plan, as well as dental and vision insurance. Other student benefits include access to subsidized gym memberships, counseling services, and many more resources offered by our Office of Student Financial Aid and Registrar.

Cost of attendance budget

Estimated first-year student expenses (12 months) for the 2020-2021 academic year:

ItemCost
Tuition $58,900
Books $1,950
Rent and utilities $18,480 ($1,540/month)
Home internet $650 ($50/month, plus one-time $50 installation fee)
Food $3,828 ($319/month)
Personal and miscellaneous $6,360 ($530/month)
Student health insurance $1,200 ($100/month)
Transportation $3,828 ($319/month)
Total $95,196

Scholarship consideration for all who apply

Through the generous gifts of our benefactors, scholarships offset a sizable portion of tuition expense for eligible students. We determine these awards by evaluating your prior academic performance and financial need. Awards are communicated to accepted students in the spring after an offer of admission is extended.

Scholarship eligibility is reviewed for all accepted students. Mayo Clinic Alix School of Medicine uses parental income and asset data to award institutional scholarships. This is a practice consistent with most medical schools in the country.

Scholarship awards are re-evaluated on an annual basis. These awards are renewable subject to continued meritorious performance and annual financial aid application resubmission. The awards will be rescinded if the student receives external funding equal to 100 percent of his or her tuition. 

Financial aid office

Many students also offset the cost of their medical education with external loans, grants, scholarships, or other funding opportunities. For more financial aid information, contact:

Office of Student Financial Aid and Registrar
Phone: 507-284-4839
Email: mayofinaid@mayo.edu

Federal loan information for medical students

Federal Direct Unsubsidized Loan

The federal Direct Unsubsidized Loan is available and is not based on financial need. The student is responsible for accrued interest but may defer interest payments until graduation.

Terms are subject to change each academic or fiscal year. The federal direct loan servicer will mail the borrower a disclosure statement indicating the exact loan terms.

The terms include:

  • Loan limit for Mayo Clinic Alix School of Medicine: $40,500 annually
  • Cumulative loan limits (total limit for subsidized and unsubsidized loans): $224,000
  • Interest rate: Fixed; see specific rates
  • Number of disbursements: At least two per academic year
  • Repayment term: 10-year standard
  • Origination fee: See specific fees

Federal Direct PLUS Loan

The federal Direct PLUS Loan is not need-based and is available for students in graduate programs. A credit check is completed prior to loan approval. If the applicant has an adverse credit history, he or she will not be eligible for a PLUS Loan and the loan application will be denied. In this scenario, the graduate student may seek an endorser or apply for an alternative loan.

Terms are subject to change each academic or fiscal year. The federal direct loan servicer will mail the borrower a disclosure statement indicating the exact loan terms.

The terms include:

  • Loan limit: Varies (cost of attendance minus other aid)
  • Cumulative loan limit: None
  • Interest rate: Fixed; see specific rates
  • Number of disbursements: At least two per academic year
  • Repayment term: 10-year standard
  • Origination fee: See specific fees