In 2017, the Columbia University Vagelos College of Physicians and Surgeons announced the launch of a sweeping scholarship program that made it the first medical school in the nation to meet 100 percent of demonstrated financial need with scholarships for all students who qualify as part of their need-based financial aid package. Medical students who submit complete financial aid applications will automatically be considered for a Vagelos Scholarship Program award.
Family resources are assessed based on the financial information provided by the family on the required FAFSA and CSS Profile applications (from the College Board). A family’s total income (taxable and untaxed), as well as all assets (cash, investments, real estate, business value, etc.), are considered in the calculation. All families (of both new and continuing students) whose total annual income falls below $125,000 a year will be assessed a zero contribution from income; there may still be a parental contribution assessed on the family’s assets.