Types of Financial Aid

We offer a variety of financial aid options designed to meet the unique needs of our students. These include federal and private loans, scholarships, and institutional aid programs that help reduce the costs of medical school.

Cape Fear Valley Health Scholarship

Every student in the first two entering classes of the Methodist University Cape Fear Valley Health School of Medicine will receive a total of $40,000 in institutional gift aid. This gift will be allocated across the four-year medical school program and applied directly toward the cost of tuition.

Federal Student Loans

Federal Unsubsidized Loans

• Available to all students regardless of financial need, with interest accruing while in school.
• Accrues interest from the date the loan is disbursed until the date the loan is paid in full.  Repayment begins 6 months after graduation or upon dropping below half-time status.
• Subject to an origination fee.
• Aggregate and Lifetime limits apply.

Grad Plus Loans (existing borrowers only)

• Fixed Interest loan
• Accrues interest from the date the loan is disbursed until the date the loan is paid in full.  Repayment begins 6 months after graduation or upon dropping below half-time status.
• Subject to an origination fee.
• Subject to credit review.

NOTE: The Grad Plus Loan Program will not be available to new borrowers who begin their programs after July 2026.

Alternative Loans

• Interest is calculated daily based on the principal balance and annual interest rate and begins to accrue from the first date of loan disbursement. Repayment terms vary.
• A list of historical alternative loan lenders can be found by visiting ELMSELECT.

Self-Certification

Federal regulations now require the completion of a Private Education Loan Applicant Self-Certification form for all private education loans. Student borrowers are required to obtain the form and the information needed to complete it, sign, and submit it to their lender. Some lenders will prompt you to complete this form as part of your online application process. If so, you do not need to complete a duplicate. The private loan application and disbursement process cannot be completed until the signed Private Education Loan Applicant Self-Certification form has been received by the lender.

Loan Cancellation/Reinstatement

 A student borrower may cancel or reduce an alternative loan any time before a loan has disbursed to Methodist University Student Financial Services. To reduce, or cancel a loan, the borrower must complete the Loan Revision Form and return it to the Financial Aid Coordinator.

Important Notice: Canceling any loan disbursement could result in a balance or larger balance due on the student’s account which the student will be responsible for paying.

Loan Disclosure

The School of Medicine (SoM) is prohibited from selecting a lender or recommending a specific lender for students as specified through the Student Loan Sunshine Act (see below). Should students choose a lender not listed on Fast Choice, check with that lender to ensure they offer an alternative loan for undergraduate or graduate students. To ensure students and their families continue receiving sound and impartial advice from the Office of Financial Aid personnel, and to avoid the potential for, or appearance of, conflicts of interest regarding student loans, grants and scholarships, the MC CFVH Financial Aid, shall abide by the Ethical Principles and Code of Conduct set forth by the National Association of Student Financial Aid Administrators (NASFAA).

Student Loan Sunshine Act

The Student Loan Sunshine Act was created to ensure that students have access to all lenders. Methodist University abides by all provisions of the Student Loan Sunshine Act and supports student’s freedom to choose any alternative loan lender. Should students choose a lender not listed on Fast Choice, check with that lender to ensure they offer alternative loans.

Institutional Scholarships

Medical Scholars Program

Funded by the Anonymous Trust

Purpose: Supports outstanding students from Southeastern North Carolina with financial need and a strong commitment to practicing in Southeastern North Carolina after residency.

Award Overview:

• Up to $91,000 in last-dollar scholarship and support across medical school and Cape Fear Valley Health Systems residency
• Up to 10 students per cohort
• Year 1: $40,000
• Year 2: $30,000
• Seven CFVHS residents in the first three cohorts
• $5,000 bridge stipend; $8,000 annual loan repayment assistance in years one and two

Eligibility Criteria:

• Resident of Southeastern North Carolina
• Demonstrated financial need
• Strong academic performance
• Meaningful community and clinical engagement
• Intent to practice in Southeastern North Carolina

Cumberland Community Foundation Scholarship

Funded by Cumberland Community Foundation, Inc.

Purpose: Attracts and retains excellent medical students from Southeastern North Carolina, regardless of financial need.

Award Tiers:

• President’s Award: Up to $25,000 annually (3 students), renewable up to 4 years
• Dean’s Award: Up to $10,000 annually (5 students), renewable up to 4 years

Eligibility Criteria:

• Excellent academic performance
• Recent community service (clinical and non-clinical)
• Preference given to graduates of and/or current residents of Southeastern North Carolina

Cumberland County Commissioners Scholarship

Funded by the Cumberland County Board of Commissioners

Purpose: Supports outstanding medical students from Cumberland County, N.C., regardless of financial need.

Award Overview:

• $15,000 per year for four years
• Five students in each of the first three classes
• Up to $1,000,000 invested across eligible cohorts

Eligibility Criteria:

• Graduate of and/or current resident of Cumberland County, N.C.
• Excellent academic performance
• Essay or strategic plan outlining regional service and impact

External Scholarships

The School of Medicine offers a compiled list of external scholarships to help medical students explore additional funding opportunities beyond institutional aid. These resources are provided for reference, and students are encouraged to review eligibility requirements, deadlines, and application processes directly with each sponsoring organization.

Take charge of your financial future by actively researching and applying for external scholarships—every opportunity you pursue brings you one step closer to reducing debt and investing fully in your medical education.

• The White Coat Investor Scholarship
• Sallie Mae $2000 No essay Scholarship
• Army Health Professionals Scholarship
• Explore Medical Careers Scholarship
• Franklin D. Boyce Annual Health Scholarship
• Foundation for the Carolinas Scholarships
• National Health Service Corps Scholarship
• National Medical Fellowships
• American Society of Hematology Award

Conflict of Interest & Disclaimer Statement

The School of Medicine does not promote, endorse, or advocate for any specific organization, donor, or sponsor associated with the external scholarships listed. These scholarships are provided solely for informational purposes, and the list is not all‑inclusive of the many external scholarship opportunities that may be available to students.

Students are responsible for independently reviewing each scholarship’s eligibility requirements, application deadlines, and stated purpose to determine suitability. The School of Medicine does not participate in the selection process for external scholarships and will not be held responsible for a student’s choice to apply for, accept, or decline any scholarship opportunity.