2008 - 2009 Award Notice Process
Thank you for your input and cooperation with the Financial Aid Office this past year as we worked to streamline processes to ensure timely delivery of award information to students.
Indicated below are our policies for the academic year. Please read all information thoroughly.
Should you have any questions, comments, or concerns, please contact our office.
Award Notice:
Returning a signed/dated copy of your financial aid award notice begins the preparation for award disbursement. Please indicate the dollar amount accepted in the “Amount Accepted” column and return your signed/dated award notice as soon as possible.
Budget Increase:
Various components of the cost of attendance (budget) were increased for the academic year. Increases included:
- Tuition
- Health Insurance
- Dental Insurance
- Matriculation Fee
- Rent/Utilities
- Cost of Living increase in all other areas
These increases raised the budgets such that many students will have large “Remaining Need” after their initial award package is completed.
Remaining Need:
If you wish to borrow any part of the “Remaining Need” (as listed on your award notice), complete and submit the “Additional Loan Request” form with your award notice. The Financial Aid Office will make the adjustments to your award based on your request. Please note that we will also determine the lowest interest loan funds available to assist with meeting student costs.
Loans:
Continuing students who have already signed their “Master Promissory Note” (MPN) for the Federal Direct Stafford Subsidized and Unsubsidized loans will not be required to complete a new promissory note. Only first time borrowers will be required to complete a Master Promissory Note (MPN). Students can complete their MPN NOW.
All students awarded a Federal Perkins Loan will be required to electronically sign (e-sign) a promissory note online, a yearly requirement for all Perkins Loan borrowers. This will be an open-ended note for the academic year. Therefore, no additional loan note signatures will be required if any adjustments are made throughout the academic year. Students will receive additional information as to when this process may be completed.
No loan funds will be released for any of the above loan funds until all required information and promissory note confirmations have been received.
External Scholarships and External Loans:
Students are required to report anticipated external (non-SOM) scholarships and loans to the Financial Aid Office. These additional scholarships and loans may require an adjustment to the student’s financial aid award. In all cases, if an adjustment has to be made, all loans offered will be cancelled before SOM institutional scholarship.
Academic Calendar:
The official start date of classes per the academic calendar (published by the Registrar's Office) is August 25, 2008. (Note that the academic calendar for first year Medical and Biological Illustration students begins on August 4, 2008.) Federal regulations prohibit release of federal loan funds to students not more than ten days before the official start of classes. Therefore, we will be unable to disburse any financial aid refunds before August 15th. Please plan your budget accordingly until funds are disbursed.
Program-Specific Information:
Please select the appropriate link for additional information specific to your academic program.
