Financial Aid Important Dates

M1 - First Year Medical Students

M2 - Second Year Medical Students

M3 - Third Year Medical Students

M4 - Fourth Year Medical Students

* 25% tuition adjustment only applies to tuition and fees charged by the university. (All 3^rd party charges, including health and disability insurance, must be negotiated with the service provider. See the Medical Student Handbook Tuition Refund Policy for details.)

** See the bottom of this web page for details.

**Return to Title IV (R2T4)

Students who withdraw from all courses, fails to being attendance in a scheduled course, or does not complete more than 60% of each payment period (half of the academic year), must have a process called “Return to Title IV Funds” run to determine how much of their Title IV Federal financial aid (Unsubsidized and/or Graduate PLUS Loans) has been earned. The percentage aid that was not earned must be returned to the Title IV Federal Aid Program (s) and the student is responsible for the returned amount unless they meet on of the exemptions below.

Exemptions:

• A student completes all requirements for graduation.
• In a program offered in modules (The M.D. program is considered a module program for financial aid purposes), a student is not considered withdrawn if the student successfully completes-
  • One module that includes 49% of the number of days in the payment period, excluding scheduled breaks of more than 5 consecutive days.
  • A combination of modules that when combined contain 49% or more of the number of days in the payment period, excluding scheduled breaks of more than 5 consecutive days.

Coursework equal to or greater than the coursework required for the institution’s definition of half-time enrolment of 4.5 credit hours, successful completion means earning a passing grade.

Example #1

• MED1 Student
• Tuition and Fee Charges for 1^st half of the year are $16,012.72
• First day of Class (after Orientation) is August 9^th, 2021
• Student withdraws or otherwise stops attending on October 4^th, 2021 (attended through October 4^th, 2021)
• Student completed 56 of 131 days, or 42.748% of the payment period
• Student received $21,135 in Federal Unsubsidized Direct Loan funds (half of the annual maximum of $42,722, less origination fees)

The student did not earn 57.252% of his/her Federal student funds, or $12,100.19.

Unearned Institution charges are 57.252% of $15,972.72, or $9,167.59.

The lesser of these two amounts, rounded to the dollar ($9,168), must be returned to the Federal student aid programs by the school and the student will be billed for the returned amount.

Example #2

• MED2 Student
• Tuition and Fee Charges for 1^st half of the year are $15,970.68
• First day of Class (after Orientation) is July 30^th, 2021
• Student stops attending (withdraws or otherwise stops attending) on October 22^nd, 2021 (attended through October 22^nd, 2021)
• Student completed 83 of 141 days, or 58.865% of the payment period
• Student received $20,035 in Federal Unsubsidized Direct Loan funds (half of the annual maximum of $40,500, less origination fees)

The student did not earn 41.135% of his/her Federal student loan funds, or $9,101.12.

Unearned Institutional charges at 41.135% of $15,970.68, are $6,569.50.

The lesser of these two numbers, rounded to the dollar ($6,570), must be returned to the Federal student aid programs by the school and the student will be billed for the returned amount.

Example #3

• MED3 Student
• Tuition and Fee Charges for 1^st half of the year are $16,002.72
• First day of Class is April 19^th, 2021
• Student stops attending (withdraws or otherwise stops attending) on August 26^th, 2021 (attended through August 26^th, 2021)
• Student completed 126 of 185 days, or 60.819% of the payment period
• Student received $23,334 in Federal Unsubsidized Direct Loan funds (half of the annual maximum of $47,167, less origination fees)

This student completed 60% or more of the payment period and is considered to have earned all of his/her funding for the payment period (half year). Return of funds is not required.