Tuition and Fees

The Lake Erie College of Osteopathic Medicine (LECOM) offers one of the lowest tuition rates for private medical colleges in the country while also maintaining the highest quality of educational standards for academic programs. Our Financial Aid Team educates students about financial literacy and debt management.

US DOE Financial Aid Statement

As outlined in the College’s Eligibility and Certification Approval Report and the Program Participation Agreement, Lake Erie College of Osteopathic Medicine (LECOM) has qualified to participate in programs under the Higher Education Act of 1965, as amended and the Federal student financial assistance programs.
The Financial Aid Team provides counseling and assistance to accepted students in securing funds to help finance their education. Financial aid eligibility is based on the submittance of the Free Application for Federal Student Aid (FAFSA) and the Graduate PLUS Application, if applicable, to students attending LECOM.
A student’s funding from federal, private, institutional and other sources is intended to cover the Cost of Education (COE) for the academic year (i.e. tuition, fees, and living expenses). Funding is to be used strictly for educational-related expenses and not exceed the COE.

Eligibility Requirements

Financial aid awards from federal programs are made in accordance with federal regulations governing the program.
Basic eligibility requirements include:

  1. The student must demonstrate financial need for need-based federal student aid programs
  2. Be a U.S. citizen or an eligible noncitizen
  3. Have a valid Social Security Number
  4. Be enrolled or accepted for enrollment as a regular student in an eligible degree or certificate program
  5. Maintain Satisfactory Academic Progress (SAP) in college or career school
  6. Provide consent and approval to have federal tax information transferred directly into the FAFSA form
  7. Sign the certification on the FAFSA stating you are not in default on a federal student loan, you do not owe money on a federal student grant, and you will only use federal student aid for educational purposes, and
  8. Show qualifications to obtain a college or career school education.

Students wishing to utilize financial aid will need to complete the most recent FAFSA on studentaid.gov. Graduate/professional students are considered independent. Therefore, parental information is not required on your FAFSA. Entrance counseling must be completed by incoming students when they are newly admitted to LECOM. In addition, incoming students must complete the Master Promissory Notes (MPNs) for each loan they wish to borrow funds from. Lastly, students may apply for the Direct PLUS loan to pay for tuition, fees, and for room and board expenses. A credit check will be conducted on all Direct PLUS Loan applicants. Once all documents are completed the Financial Aid Team will import and review the information to determine award eligibility.
The Cost of Education (COE) is the amount it will cost a student to go to school. The COE budget is calculated to show the total cost for the school year (i.e. the fall and spring terms). Programs that last a different period of time, (for instance, a 9-, 10-, 11-, or 12-month academic year) might show a COE that covers a time period other than a standard academic year.

The COE is the estimate of:

  • Tuition and fees;
  • Books, course materials, supplies, and equipment;
  • Cost of housing and food (or living expenses);
  • Transportation expenses;
  • Loan fees (excluding any loan fees for non-federal student loans);
  • Miscellaneous expenses (including a reasonable amount for the documented cost of a personal computer); and
  • Cost of obtaining a license, certification, or first professional credential

Net Price Calculator

All Title IV schools that enroll full-time, first -time degree-or certificate-seeking undergraduate students must have a net price calculator. The net price is the Cost of Education (COE) minus any scholarship aid.

Disclaimer: Estimates produced by the net calculator may be subject to change. It does not represent a final determination or actual award and is not binding on the Department of Education, LECOM, or the state.

Students must complete the FAFSA form to receive an actual Title IV financial aid award. Students can complete the yearly FAFSA at StudentAid.gov.