Cost & Aid

Overview

The Albany Medical College Office of Financial Aid assists students with financial aid eligibility, the application process, disbursement of funds, or any aspect of the financial aid process or financial literacy.

Use the resources below to learn more, or schedule an appointment with our staff.

While appointments are recommended, you can also meet with our team on a walk-in basis from 9 a.m. to 3 p.m., Monday-Friday, in the ME Building, Floor 7 (offices 726, 727, and 730).

Tuition & Fees

The following is meant to provide information on the costs of attending Albany Medical College. These costs are subject to increases.

Costs for each of the following programs are based off the 2024-2025 academic year. 

Itemized listYear 1Year 2Year 3Year 4
Tuition$58,750$58,750$58,750$58,750
Books, Supplies & Equipment$1,000$1,100$250$0
Technology Allowance$1,800$0$0$0
Step Exam FeesN/A$670$670N/A
Student Health Fee$125$125$125$125
TOTAL$61,675$60,645$59,795$58,875
TuitionPA Year 1PA Year 2PA Year 3
Tuition$20,000 ($10,000 per semester)$20,000 ($10,000 per semester)$30,000 ($10,000 per semester)
Class YearTuition
Year 1$36,054
Year 2$34,668
Year 3$30,000

Bioethics

2024-2025 cost is $2,678 per 3-credit course. Tuition is due at the time of registration for the semester (information correct as of 12/22 and is subject to change).

Course tuition for the Better Doctoring program is $2,500 and includes registration and online access to seminar materials. Refunds will be given if withdrawal from the seminar occurs prior to the first day of class. Refunds will be processed once written notification of cancellation is received.

Basic Sciences

2024-2025 annual tuition for full-time matriculated students in the basic sciences is $28,992. Tuition per semester is $14,496. However, financial aid to cover the cost of tuition is available to all full-time matriculated doctoral and graduate students in the basic sciences by way of Trustee Tuition Scholarships.

Estimated Monthly Cost of Living

The following standard budget allowances represent the amount established by the Albany Medical College Financial Aid and Student Services Committees as reasonable costs for attending Albany Medical College. The budgets are viewed annually by the Financial Aid Committee. It is expected that most students will keep their costs within these budgets. These costs are monthly estimates and are subject to change.

*An additional $700 in transportation costs per academic year may be added to the costs of non-resident students who live beyond New York border states.

Costs for each of the following programs are based off the 2024-2025 academic year. 

Itemized listMonthly Cost
Housing$1,232
Food$475
Utilities$176
Phone and Internet$242
Transportation"$137/$196
Personal$327
Total$2,589/$2,648
Itemized listMonthly Cost
Housing$1,232
Food$475
Utilities$176
Phone and Internet$242
Transportation$255
Personal$327
Total$2,707
Itemized listMonthly Cost
Housing$1,232
Food$475
Utilities$176
Phone and Internet$242
Transportation$128
Personal$327
Total$2,580
Itemized listMonthly Cost
Housing$1,232
Food$475
Utilities$176
Phone and Internet$242
Transportation$0
Personal$327
Total$2,452

Higher Education Emergency Relief Fund (HEERF)

Student Report - July 2020 (PDF)

Frequently Asked Questions

For additional questions contact the Office of Financial Aid.

In general, to receive aid from the federal student aid programs, including student loans, you must meet the
following requirements:

  • Be a U.S. citizen or eligible noncitizen
  • Be enrolled as a matriculated student in an eligible program seeking a degree or certificate
  • Maintain Albany Medical College’s satisfactory academic progress standards
  • Certify that you are not in default on a federal loan or owe money on a federal grant or loan
  • Certify that you will use federal student aid only for educational purposes
  • Apply annually for federal student aid and have valid current year FAFSA data on file in the Financial Aid
    Office
  • For federal student loans, the student's loan cannot exceed the college budget minus estimated financial aid
  • Students cannot exceed federal annual or aggregate loan limits

A student's financial aid is determined by their specific need and income. Therefore, a student's eligibility for financial aid cannot be determined until they provide full information about their financial need by filing the Free Application for Federal Student Aid (FAFSA). Need-based scholarships and grants come from a variety of sources. When students complete the FAFSA, they apply for federal student loans, campus-based funds, and institutional financial aid programs. Financial aid awards are based on several factors including federal and state regulations, demonstrated financial need, good academic standing, student enrollment status, student essay, donor and funding source requirements and availability of funds.

Students are automatically considered for all types of federal and institutional aid programs (grants, loans, and work-study) when their financial aid file is complete and valid FAFSA data is on file in the Financial Aid Office.

Students who wish to apply for work-study must contact the Financial Aid Office and request to be considered for a work-study assignment. You may discuss the type of assignment that would interest you and meet your scheduling needs.

The Financial Aid Office assists in administering funds from federal, state, institutional and private funding sources primarily based on need. Need is determined by a formula set by the funding source which is then consistently applied to all applications for aid.

Financial aid is defined as any monetary support other than student/family resources for purposes of meeting educational costs. There are four types of financial assistance available at Albany Medical College:

  1. Scholarship and grant aid are considered gifts and therefore do not need to be repaid.
  2. Loans are funds that need to be repaid and should be considered serious commitments.
  3. Federal Work Study (FWS) is a student employment program that allows students to earn money
    to contribute to their college and living costs.
  4. Service Commitments are programs that help students fund their education if the student agrees to
    serve for a specified number of years in a designated area or organization.

 

As part of your Albany Medical College financial aid award package, you may receive a scholarship from Albany Medical College. These scholarships are stewarded by the Albany Medical Center Foundation. Scholarships are made possible through the generous donations of individuals, businesses, corporations and private foundations.

Each year when a student applies for financial aid by submitting the Free Application for Federal Student Aid and an Albany Medical College Financial Aid Form, the student is automatically considered an applicant for an institutional scholarship. The priority deadline for scholarship funding is January 15.

These scholarships are awarded based upon a variety of criteria, including program of study, classification, college affiliation, Albany Medical College essay content, financial need, loan debt, prior need-based aid, specialty and more.

On the date that the tuition for a term is due, you must have a financial aid deferral in place (enough aid to cover your charges), participate in the Cashnet Payment Plan, or pay the amount due from your own funds.

You should receive an email to view your charges online at Albany Medical College's Self-Service from Albany Medical Center's Corporate Finance Office. Charges for the upcoming term are assessed approximately one month before the term begins.

Please direct any questions about your charges or Cashnet payment plan setup to Albany Medical Center's Corporate Finance Office at 518-262-2207 or [email protected].

Questions about health, dental or vision insurance should be directed to Student Services at 518-262-6354.

The Financial Aid Office does not bill students and cannot accept student payments.

Albany Medical Center's Corporate Finance Office (518-262-2207; [email protected]) is responsible for the administration of student account statements. Cash Management Services (518-262-5102) collects payments for College charges.

CREDIT CARD PAYMENTS - Students who wish to pay by credit card should pay online via Self-Service.

CASH PAYMENTS - Payment of student charges by cash may be made in person at Cash Management Services (Room A-158).

PAYMENT BY CHECK – Payments of student charges by check may be made in person at Cash
Management Services (Room A-158). Checks may also be mailed to:

Albany Medical College
Cash Management Services, MC-13
47 New Scotland Ave.
Albany, NY 12008-3412

Albany Medical College factors in the cost involved for living expenses (also known as indirect costs) within the cost of attendance. A student (if eligible) may borrow loans that cover both the tuition and living expenses, up to the limit the cost of attendance shows.

All students are required to enter their banking information into the Self-Service student portal. This lets students receive refund checks via ACH direct deposit.