Financing Your Education

Once you’ve been accepted to medical school, your next hurdle will be learning about how to pay for medical school.  

Between 70 - 80% of all Stony Brook University SOM students finance their medical education solely or partially through the Federal Direct Loan program:  Federal Direct Unsubsidized Stafford loan and Federal Direct Grad PLUS are the federal loans available to SBU SOM students.  

Prior to matriculation, all accepted students will receive a complete FA application packet.  All students applying for any financial assistance, including federal loans must complete:

  • Free Application for Federal Student Assistance (FAFSA) for the upcoming aid year
  • Institutional Application for Financial Aid/Need Based Grant Application
  • Credit Policy Statement
  • Master Promissory Note and Entrance Counseling Modules for Federal Direct Unsubsidized Stafford and Grad PLUS Loans.
  • Submission of prior year income/asset information for student and parent/guardian
  • Submission of financial aid transcript information from all prior undergraduate and graduate institutions attended. 
  • Other documents as requested by the Office of Student Affairs 
  • Each year, loan and need based grant applicants must complete the Parent Information section of the FAFSA and the Need Based Grant Application.
  • Each year, loan only applicants must complete the FAFSA; only applicant info is required for loan-only applicants. 

Important Links


What is included in the Cost of Attendance?


For the 2021-2022 academic year, tuition and fee rates are as follows:

Year One  
NYS resident :  $43,670 
Out of state resident:
(Includes international students)
Year Two     
NYS resident:  $46,377
Out of state resident: 
(Includes international students)
Year Three/Four  
NYS resident:  $46,237
Out of state resident:
(Includes international students)














The total cost of attendance for each year of the curriculum includes “fixed” tuition/fee expenses as well as “non-fixed” expenses:  living expenses (room/board), transportation expenses, books/supplies, personal/miscellaneous/health care expenses.  These expenses differ each year, based on the length of the year and expenses that are “year” specific.  For example: 

Year One – non-fixed expenses include:  room/board/food/transportation for the 10 months of the first academic year.  Also included in year one are the costs of the purchase of medical equipment and scrubs.

Year Two – non-fixed expenses include room/board/food/transportation for the 11 months of the second academic year.  Also included in year 2 are the costs of USMLE prep materials. 

Years Three and Four – non-fixed expenses include room/board/food/transportation for the 12 months of the third and fourth academic years.  Also included in year 3 are USMLE registration fees.  Included in year 4 are away elective and interviewing expenses.  

Generally, non-fixed expenses are estimated at ~ $25,000 for years one and two; and ~ $28,000 for Years 3 and 4. 


Private Educational Loans

For purposes of federal student loan eligibility the following expenses cannot be included in the cost of attendance: 

  • Vehicle purchases/lease payments,
  • Credit card payments
  • Residency relocation expenses


Private educational loans are available to assist students with these expenses.   Private educational loans are based on credit eligibility and may not be eligible for borrower benefits, repayment options and loan forgiveness options that are available for federal loan programs.   Some private educational loan lenders also offer loans for residency relocation expenses. 

Financial Literacy

Trends in student loan debt across all levels of higher education have resulted in a need for financial literacy education.  Financial literacy programs include a wide array of topics, not all of which are geared towards the needs of medical students and young physicians.  However, the AAMC/FIRST programs and website provide comprehensive financial information geared specifically towards future physicians throughout all phases of their training; from the pre-medical years through fellowships and everything in between.  The Office of Student Affairs strongly recommends the FIRST Webinars as “must see” viewing.   The MedLoans Loan Organizer and Calculator and the Education Debt Manager will provide the foundation for financial success as you begin your career.