Because the M.Eng. is a professional degree, most students pay their own expenses. The salary differential between the BS and Masters degree in biomedical engineering is approximately $15,000/year, making a two (or even three) semester program cost-effective.
There is very limited merit-based financial aid available from the department of biomedical engineering. This aid is typically in the form of partial tuition scholarships or teaching assistantships. Early application (by mid-January) is encouraged. Students who apply late may still be admitted, but they are less likely to receive merit-based aid.