College of Medicine / Students / Financial Aid / Applying for Financial Aid

Applying for Financial Aid

Financial aid is awarded on an annual basis. Students must reapply each year by completing the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov. Once the FAFSA data is received and processed, aid eligibility will be determined.  This typically happens in early April of each year.  If additional information is needed, you will be notified and processing will continue once the required documentation is provided.

 

Requirements for students who are applying for Federal financial aid:

  • Free Application for Federal Student Aid (FAFSA) for the 2016-2017 academic year
    • Complete the FAFSA online at www.fafsa.ed.gov .
    • The 2016‐2017 FAFSA application will be available on January 1, 2016 and will utilize 2015 Tax Return Information.  Apply as early as possible, and applicants/entering students should apply whether admitted, on the alternate list or awaiting an admissions decision.
    • The School Code for FAU is 001481.
    • Additional documents should NOT be submitted unless requested. These items mayinclude:
      • Federal Verification Worksheet
      • A copy of the Student’s 2015 Tax Transcript and W‐2 Forms
      • Professional Judgment forms and documentation may be submitted for review due to special circumstances the student and/or student’s family may be experiencing (such as loss of employment, divorce, etc.).

 

Requirements to receive Federal Student Loan funds:

  • Complete the Federal Direct Stafford Loan Master Promissory Note (MPN) at www.studentloans.gov under the Manage My Direct Loan tab. The MPN will be completed once while you are at enrolled in the College of Medicine.
  • Complete the Federal Direct Loan Entrance Counseling at www.studentloans.gov under the Manage My Direct Loan box.  This requirement is completed once and must be done prior to your first financial aid disbursement at the College of Medicine
  • Complete the Graduate PLUS Loan application (only if you need to borrow through this program) at www.studentloans.gov, under the Manage My Direct Loan box.  You must apply for a new Graduate PLUS Loan each year.
  • Complete the Graduate PLUS loan MPN and Entrance Counseling once your application is approved (only if you need to borrow through this program). 
  • Submit the Graduate PLUS Loan Addendum Form (only if you need to borrow through this program) to the Office of Medial Student Financial Aid.  

 

* You are strongly encouraged to complete the steps necessary to allow Direct Deposit of your financial aid funds.  This is done through your My FAU account. Otherwise, any financial aid refund will have to be mailed to you at the address you have on file, which could cause delays in receipt of funds.

 

Requirements to Apply for College of Medicine Scholarships :

  • Parent Data must be included on the student’s FAFSA. Do not assume you will not be funded based on parents’ income, as both merit and financial need based awards are made
  • Both the application and essay requirements must be met

Default

  • If you are/were in repayment on your Federal Student Loans and have not made payments for 270 days, your Federal Loans may be in default. If you are in default on any Federal Student Loan or you owe an overpayment on a Federal Grant, you will not be eligible for Federal Financial Aid until the default is cleared or the Grant overpayment has been repaid.
  • Review your Federal Student Financial Aid History at www.nslds.gov.

 

Every first year medical student with any educational debt will be required to schedule an appointment with the Office of Medical Student Financial Aid to discuss the application and awarding processes, the cost of attendance, how to construct and live within a budget, and any other financial matters of interest or concern.  This one-on-one meeting must be completed before the student may receive financial aid funds for the second half of the year (January of the academic year).  A budget worksheet must be completed and brought to the meeting.  The worksheets are found on our FORMS website at

 

Every fourth year student with any educational debt will be required to schedule an appointment with the Office of Medical Student Financial Aid to review debt management strategies prior to graduation.



Last Modified 11/8/16