Budgeting Living Expenses/Refunds for 2023/2024

To help students manage Living Expenses/Refund Allocations the Office of Scholarships and Financial Wellness has developed a Cost of Attendance (COA) Budget Worksheet (download the Excel spreadsheet) to easily stay on track for the Academic Year (click on the appropriate Cohort tab). Below is an example for the Summer 3 Month Term.

• Tuition Budget In-State/Out-of-State
• Maximum Living Expense Budget
• Maximum Transportation Budget
• Maximum Books/Supplies/Educational Expense Budget
• Managed by Term/Month
  • Approximately $2,300.00 per month is the COA Maximum Budget for Rent, Food, Internet, Utilities, Transportation, Books & Supplies etc.

Financial Aid will disburse in 4 equal payments. Tuition and Fees are billed to coincide with Financial Aid Disbursement Dates. The dates below are the earliest dates that Financial Aid Funds will disburse. Funds will post to your Student Account after Financial Aid eligibility is confirmed and registration is finalized. If you signed up for Direct Deposit, you should receive your Living Expense Refund 3 - 5 days after the Bursar processes them.

Disbursement Date Information

• Late Financial Aid filers should receive their Aid within 2 weeks after:
  • Submitted all requested documents & information
  • Enrolled at least half time and began attending classes
  • Completed Master Promissory Notes and Entrance Counseling (First Time Borrowers)
• Missing grades from a prior Academic Year will delay your disbursement
• Students must meet Satisfactory Academic Progress Standard (SAP)
• Registration status changes during the Academic Year, may reduce or cancel Aid
• Students on leave (LOA) are not eligible for Financial Aid. Upon return, eligibility for Aid will be determined when requirements met

Contact us with questions

finwellness@wayne.edu: 313-577-3610

finaidmed@wayne.edu: 313-577-1466

Website: Scholarships, Debt Management and Financial Wellness - Enrollment Management - School of Medicine - Wayne State University