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Types of Aid

Federal Aid

Federal Direct Loans

Federal Stafford Loans are the most common types of education loans. Students apply for these loans by completing the FAFSA. Federal Direct Loans are obtained through the government under Direct Lending and are guaranteed by the Federal government. All borrowers must complete an entrance counseling and master promissory note before the loan disbursement can be received by the student.

Federal Direct Unsubsidized Loans

Students are not required to demonstrate financial need to receive Federal Direct Unsubsidized Loans and do not need to complete a credit check for eligibility. Every student is eligible for receipt of this loan if he or she meets all required criteria, is not in default on a current loan, and has not exceeded the federal aggregate loan limit.

Interest payments on Federal Direct Unsubsidized Loans are not subsidized by the government. Students can arrange to pay interest on the loan while they are in school; students also have the option of allowing the interest to capitalize, adding to principal balances upon graduation or withdrawal. The current interest rate for 2019-2020 is 6.08 percent fixed, with a loan origination fee of 1.062 percent upon disbursement. Borrowers are not required to make loan repayments during a 6-month grace period after graduating or withdrawing.
Students are subject to a lifetime borrowing limit of $224,000 for all Federal Direct Loans (subsidized and unsubsidized) received for undergraduate and graduate education.

Federal Graduate PLUS Loan

The GRAD PLUS Loan is a federal loan offered to graduate students who require additional funding. Students are not required to demonstrate financial need to receive this loan. A credit check is required for receipt of this loan.

This loan offers the benefits of a federal loan program, such as deferment, forbearance, consolidation, and death and disability cancellation. Students can arrange to pay interest on the loan while they are in school; students also have the option of allowing interest to capitalize, adding to principal balances upon graduation or withdrawal. The current interest rate for 2019–2020 is 7.08 percent fixed, with a loan origination fee of 4.248 percent upon disbursement.

The Grad PLUS Loan may be awarded up to the annual maximum equal to the cost of attendance minus other aid received. Students must apply for annual loan maximum eligibility under the Federal Unsubsidized Stafford Loan Program before applying for a Grad PLUS loan; eligibility may be limited by cost of attendance, financial aid received, and other factors.

Private Student Loans

Private student loans are nonfederal educational loans available from a variety of national lending institutions. These credit-based loans are approved based on the good credit history of the student and/or cosigner. Because private student loans are funded and administered by private lenders, they each have their own unique terms and conditions. HWCOM students are strongly encouraged to educate themselves on the advantages and disadvantages of borrowing private student loans and should compare specific features of loan types, including terms, interest rates, origination fees, and conditions. Students can utilize the FinAid website to research reputable private loan lenders.


HWCOM Graduate Need Grant

This need‐based grant is derived from the financial aid fee charged to each student enrolled at FIU. Students must complete the FAFSA form and demonstrate financial need. The grant funds do not have to be repaid. This is a first come, first served grant. Funds are very limited eligible students so applying early is encouraged.

HWCOM Scholarships

The Florida International University Herbert Wertheim College of Medicine was built on the need for the next generation of physicians to be socially conscious, community based, and expertly trained. We are working boldly to create not just great physicians, but also community leaders who think holistically, globally, and locally. The College’s Scholarship Program is critically important to provide deserving medical students with the necessary financial assistance to enable their 21st century medical education. Building a strong, supportive scholarship program in partnership with generous philanthropic benefactors will make a meaningful difference in the lives of our students, allowing them to excel and transform the future of health care. The scholarship program will strive to advance our Worlds Ahead vision and secure the future success of the Herbert Wertheim College of Medicine.

HWCOM offers scholarships to eligible students based on academic merit, financial need and diversity. Pertinent scholarship information will be reviewed from the AMCAS Application, FAFSA application, and scholarship applications. The Director of Financial Assistance will contact students selected for a scholarship and they will receive an official award offer letter.


Through AcademicWorks, FIU students can browse and apply for more than 100 scholarships made possible by the generosity of FIU alumni and friends.

Outside Scholarships

The HWCOM Office of Financial Assistance encourages students to seek additional sources of funding. All awards and scholarships offered to students (including outside scholarships, research assistantships or fellowships, and teaching assistantships or fellowships) must be reported to the Office of Financial Assistance. Adjustments to the federal award package may be required.

Other Scholarship Search Websites

  • Fastweb allows students to complete personalized searches for scholarships. Users must create login credentials to access scholarship information.
  • FinAid allows students to search for scholarships and provides additional information on other sources of financial aid, such as loans.
  • Collegescholarships allows students to search for scholarships by subject, degree level, location, and minority status or student type. Users do not need to create login credentials to access information.

Additional Scholarships

National Medical Fellowships

Need-based scholarships awarded through National Medical Fellowships are offered primarily to first- and second-year medical students. Merit-based awards are offered primarily to third- and fourth-year medical students.

National Health Service Corps Scholarship Program

The National Health Service Corps Scholarship Program provides funding for tuition and fees, books, supplies and equipment, and a monthly stipend. Selected applicants may receive up to 4 years of funding. For each year of financial support, the National Health Service Corps requires 1 year of full-time clinical practice at salaried ambulatory care sites in high-priority Health Professional Shortage Areas designated by the U.S. Department of Health and Human Services. The minimum service obligation is 2 years.

American Medical Association

The American Medical Association (AMA) offers research grants, need-based scholarships, and merit-based scholarships to medical students.

Uniformed Services Health Professions Scholarship Program

The Uniformed Services Health Professions Scholarship Program (Air ForceArmy, and Navy) awards scholarships on a competitive basis and provides financial assistance to medical students in exchange for active duty service in the Armed Forces. For each year of participation, the Armed Forces require 1 year of active duty; the minimum service obligation is 3 years. The scholarship pays for tuition and fees, a taxable monthly stipend, and 45 days of active duty pay and allowances, and covers expenses including books and instruments. Scholarships are competitive, and each service has its own selection board.