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Tuition and Financial Aid

Photo of Mayo Medical School students in the Multidisciplinary Simulation Center

Tuition for 2016-2017 is $49,900. Financing medical education is the student's responsibility, but thanks to generous benefactors and thoughtful planning, Mayo Clinic's financial aid program is able to assist students based on financial need.

For new matriculating students, Mayo Clinic School of Medicine will use parental income and asset data in the awarding of institutional scholarships. This is a practice consistent with most medical schools in the country. Scholarship awards will be re-evaluated on an annual basis.

The financial aid program goals are to:

  • Increase access to the medical profession for all prospective candidates regardless of their social or economic backgrounds
  • Allow graduating students to choose a career based primarily on their interest, skill and aptitude rather than financial considerations imposed by high indebtedness
  • Attract the absolute best students to Mayo Clinic School of Medicine

Estimated budgets

Mayo Clinic School of Medicine — Minnesota campus

Estimated first-year student expenses (12 months) for the 2016-2017 academic year:

Item Cost
Tuition $49,900
Books $1,950
Rent and utilities $14,760 ($1,230/month)
Home internet $542 ($41/month, plus one-time $50 installation fee)
Food $3,828 ($319/month)
Personal and miscellaneous $6,360 ($530/month)
Transportation $3,828 ($319/month)
Total $81,168

Mayo Clinic School of Medicine — Arizona campus

Estimated first-year student expenses (12 months) for the 2017-2018 academic year:

Item Cost
Tuition $49,900 (subject to change)
Books $1,950
Rent and utilities $18,444 ($1,537/month)
Home internet $542 ($41/month, plus one-time $50 installation fee)
Food $3,828 ($319/month)
Personal and miscellaneous $6,360 ($530/month)
Transportation $3,828 ($319/month)
Total $84,852

Note: Tuition is the only budget item that is directly billed in the first year. Students should adjust the remaining budget items accordingly to align with individual household budget needs.

Budget information

  • 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.
  • 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).

Scholarships and loans

Mayo Clinic School of Medicine tuition scholarships

Through the generous gifts of Mayo Clinic School of Medicine benefactors, medical school tuition scholarships are available annually and help offset a portion of tuition expense for eligible students. The Mayo Clinic School of Medicine Financial Aid Committee determines these awards using data provided by the student and student's family. Awards are communicated to accepted students in the spring prior to matriculation.

Mayo Clinic School of Medicine need-based grant funds

This award program is designed to assist students in funding their education. The selection criterion for this award is based on a formula that evaluates student-documented financial need. These award amounts vary annually and are made possible by generous Mayo Clinic School of Medicine donors.

Student loans

Mayo Clinic School of Medicine participates in the Federal Direct Student Loan Program. Commonly known as Direct Loans, they allow students to finance their education. Payment on these loans begins after graduation or when the student drops to less than half-time status.

Health insurance

Students are offered low-cost comprehensive medical insurance, including a prescription drug plan, as well as dental and vision insurance.

For more financial aid information, please contact:

  • Nov 28, 2016
  • ART142137