Cost and Financial Aid
Tuition Waiver for First Five Cohorts
Alice L. Walton School of Medicine will waive tuition for the first five cohorts of students.
Office of Financial Aid
The Office of Financial Aid provides students with information needed to make educated decisions about funding their medical education and understanding the costs, resources, and other funding opportunities to achieve their academic goals. We strive to provide exceptional support to students financing their education through financial aid counseling, financial literacy programming, and financial planning. We ensure consistent equity in delivering financial assistance to all students, while complying with federal, state, and institutional regulations. We are here to provide students with guidance as they:
• Navigate the financial aid process
• Prepare financially for each unique stage of medical school
• Strategically establish a plan for repayment of student loans
• Develop lifelong financial skills
The Office of Financial Aid also supports students’ financial wellness through individual advising, group sessions, and providing resources. Services are available to all AWSOM students, whether they utilize student loans or not.
Contact us at finaid@alwmed.org
Scholarships and Loans
Students are encouraged to apply for outside scholarships and research student loan options to support costs beyond the waived tuition and fees. All students are encouraged to complete the Free Application for Federal Student Aid (FAFSA) to ensure the Office of Financial Aid has the information needed to provide individualized student support and educational debt management programming.
External Scholarships
The Office of Financial Aid encourages prospective and current students to explore scholarship opportunities that align with their professional and educational interests. The scholarships and resources below are informational in nature and do not suggest that AWSOM endorses the content of their websites or application requirements.
• Buckfire & Buckfire, P.C. Medical School Diversity Scholarship
• Council on Foundations
• Hispanic Scholarship Fund (HSF)
• National Medical Fellowships’ Scholarships and Awards
• Point Foundation LGBTQ Scholarship Fund
• TYLENOL® Future Care Scholarship
• Walter Byers Graduate Scholarship
Costs Associated with Medical School
We encourage all students to develop a personal budget that aligns with expenses within the estimated cost of attendance and supports their medical education.
2025-26 Estimated Cost of Attendance for Alice L. Walton School of Medicine
Billable Items |
M1(11 months) |
M2(11 months) |
M3(12 months) |
M4(9 months) |
| Tuition | $69,650.00 | $69,650.00 | $69,650.00 | $69,650.00 |
| Student Association/Activity Fee | $125.00 | $125.00 | $125.00 | $125.00 |
| Technology Fee | $2,235.00 | $- | $- | $- |
| Diagnostic Equipment Fee | $- | $100.00 | $- | $- |
| Research Fee | $- | $- | $- | $100.00 |
| Health Insurance | $4,273.00 | $4,273.00 | $4,273.00 | $4,273.00 |
| Tuition and Partial Fee Waiver | ($74,146.00) | ($72,011.00) | ($71,911.00) | ($72,011.00) |
| Total Billable Items | $2,137.00 | $2,137.00 | $2,137.00 | $2,137.00 |
Non-Billable Items |
M1(11 months) |
M2(11 months) |
M3(12 months) |
M4(9 months) |
| Living Expenses | $21,340.00 | $21,340.00 | $23,280.00 | $17,460.00 |
| Books, Course Materials, Supplies, and Equipment | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 |
| Personal Miscellaneous Total Expenses | $5,225.00 | $5,225.00 | $5,700.00 | $4,275.00 |
| Transportation (Gas, Routine Maintenance, Insurance) | $5,790.00 | $5,790.00 | $6,390.00 | $4,500.00 |
| Loan Fees (1.057%) | N/A | N/A | up to $217 | up to $217 |
| Loan Fees (4.228%) | N/A | N/A | varies | varies |
| Professional Licensure, Certification, Credential | N/A | $1,305.00 | $1,305.00 | $4,750.00 |
| Total Non-Billable Items | $33,855.00 | $36,465.00 | $37,995.00 | $32,485.00 |
Total Cost of Attendance |
$35,990.00 |
$38,600.00 |
$40,130.00 |
$34,622.00 |
All costs are estimates and may be subject to change
Applying for Financial Aid
To apply for a Private Education Loan, admitted and current students must complete and submit a loan application to a participating lender. When completing the application, students must provide the lender with the requested loan amount and period. AWSOM students are encouraged to develop a budget prior to applying for any student loan. Students are encouraged to apply no later than June 1 to ensure funds arrive before the first semester begins on July 14, 2025. Applying after June 1 can create delays in students receiving aid.
Once the private loan is approved, the lender will send AWSOM a request for certification. AWSOM will only certify private loans for admitted and current students. This process requires the financial aid office to verify loan amount and period eligibility. The yearly limit on the loan is equal to the cost of attendance per academic year, including any tuition, fees, an allowance for housing, meals, books/supplies, travel, and miscellaneous expenses, minus any financial aid the student is already receiving. Students may not borrow more than the academic period’s cost of attendance, and AWSOM will only certify private loans that are first approved for credit by the lender.
As a result of the Truth in Lending Act (TILA) of 2009, borrowers will be required to submit a Private Education Loan Applicant Self-Certification to their lender before the funds can be disbursed. Your lender will provide you with this form when you apply for the private loan.
Preferred Private Education Lenders
As a service to our students, AWSOM’s financial aid office has identified a list of lending institutions that we believe offer quality customer service, competitive loan products, and cost saving benefits to student borrowers. We recommend that students carefully choose the best lender for them and intend to remain with the same lender throughout their academic career with AWSOM.
This list of private lenders is not in order of preference. Students are under no obligation to select a lender from this lender listing and have the right to select a lender of their choice; the financial aid office will process loans from any lender.
• Citizens | 800-721-3969
• Sallie Mae | 877-279-7172
• Custom Choice | 866-232-3889
• College Avenue | 844-422-7502
• Ascent | 877-216-0876
• Earnest | 888-601-2801
• Discover | 800-788-3368