Financial Aid and Costs
In 2018, we admitted our inaugural class at the Hackensack Meridian School of Medicine. Being a member of a new medical school is a rare and exciting opportunity; not only is the new medical school shaping each of its medical student’s future as a clinician, each medical student is strongly influencing the long-term direction and impact of the medical school on all of the students in future years and their patients.
2020-2021 School of Medicine Annual Student Tuition, Fees and Estimated Indirect Living Expenses:
|Expected Costs Per Year||2020-2021 Costs Student Living with Parents/Per Year||2020-2021 Costs Student Living Off-Campus/Per Year|
|Health Insurance & Disability Insurance*||$4,228||$4,228|
|Room & Board||$6,781||$21,458|
|Books and Supplies||$1,016||$1,016|
|Misc. Personal Expenses||$2,032||$2,032|
*Important: Health insurance requirement and estimated premium including administration fee. The State of New Jersey requires all full-time students attending an institution of higher education in the state to be covered by health insurance. Please note the insurance premium for 2020-2021 is $4,173. Disability is a mandatory fee ($55.20) Health Insurance can be waived if a student has alternative, comprehensive coverage.
**Parking fees are $530 for students that are on the Nutley campus for the full academic year (Students in M1 year). Students that attend the Nutley campus for less than the full year, pay a lower fee (M2-M4 years) of $274.
- Fees: Students are charged $2,770 in required Fees
- The Fees include:
- Student Activities Fee,
- Technology Fee,
- Library and University Fee.
- Books and Supplies: Students’ estimated costs for books, clinical equipment including, recommended stethoscope, lab coats, scrubs, etc.
- Transportation: This relates to student costs getting to and from campus, clerkships and required activities. The transportation allowance cannot take into consideration expenses related to owning a car or relocating to NJ.
- Loan Fees: Based on a 1.059% origination fee charged on an average medical school total borrowed through Federal Direct Unsubsidized Loans (for loans disbursed after 10/1/19); Loan fees and interest rates subject to change on 7/1/20
- Room and Board: Living expenses related to student housing either at home or off-campus. This includes meals, utilities, and personal expenses. The living allowance is a 12-month budget.
- Miscellaneous: Miscellaneous living expenses not otherwise defined above
Note: Overall individual student costs will vary depending on lifestyle choices, such as number of roommates, proximity to campus, etc. The academic year budget reflects expectations that students will have at least one roommate.