by our College Data Analytics TeamA large number of students will not be asked to pay the advertised price of a school. Instead, they will be provided a financial aid package that will include a combination of scholarships, grants, loans, and work-study. The total cost of going to Mayo Clinic College of Medicine and Science can seem tremendous, but do not forget that almost all students are given some form of financial help.
What financing options does Mayo Clinic School of Medicine offer you, and what will you qualify for? Keep scrolling for more information. Scroll down to discover just how much financial aid could be open to you.
The amount of financial aid you can receive varies from person to person and will depend on your family’s economic situation. Use the information below to understand how much financial assistance you may get from Mayo Clinic College of Medicine and Science.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. However, some types of aid are more desirable than others, and some students will receive more than others.
At Mayo Clinic College of Medicine and Science, 100% of the incoming full-time class was awarded financial aid around 44 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $2,018 |
| Institutional grants & scholarships | 100% | $2,018 |
| Federal Pell grants | 0% | — |
| State/local grants | 0% | — |
| Federal student loans | 0% | — |
The best aid is gift aid: grants and scholarships that carry no repayment obligation. At Mayo Clinic School of Medicine, approximately 74% of undergraduate students received gift aid averaging $7,792 (for some 219 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 74% | $7,792 |
| Federal Pell grants | 2% | $5,004 |
| Federal student loans | 11% | $7,497 |
A typical borrower at Mayo Clinic School of Medicine leaves with $9,066 of cumulative federal debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $9,066 |
| Median federal debt (graduates only) | $10,500 |
| Typical 10-year monthly payment (graduates) | $111.32/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
A single median figure conceals how much debt outcomes differ student to student. Use the percentiles below to see the debt range at Mayo Clinic School of Medicine.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,000 |
| 25th percentile | $5,532 |
| 75th percentile | $12,500 |
| 90th percentile (highest-debt students) | $20,000 |
Median debt varies by family income, by first-generation status, and by dependency status.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $12,500 |
| Middle income | $12,500 |
| High income | $7,348 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $8,798 |
| Continuing-generation students | $10,500 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $7,000 |
| Independent students | $12,500 |
A handful of calculated indicators summarize the debt outlook at Mayo Clinic School of Medicine.
The Stafford program is the federal direct-loan vehicle most undergraduates use. Below is the annual Stafford program activity at Mayo Clinic School of Medicine:
| Metric | Value |
|---|---|
| Stafford loan recipients | 1802 |
| Total Stafford loan amount | $86,566,743 |
Military-affiliated students can tap the Post-9/11 GI Bill and DoD Tuition Assistance.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 9 |
| Total GI Bill amount | $205,942 |
| Average GI Bill amount per recipient | $22,882 |
DoD Tuition Assistance activity
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 0 |
| Total DoD amount | $0 |
References
More about our data sources and methodologies.