Applying for & Receiving Financial Aid

Most students are eligible for federal financial aid for their college education

NOTE: The priority processing deadline for NEOMED campus-based aid consideration is March 15th. Applications submitted past this deadline will be added to a waitlist for available aid. To ensure maximum financial aid eligibility, complete the FAFSA no later than March 15 of the year you plan on matriculating to NEOMED.

Step 1

Complete Your FAFSA

As a student pursuing an M.D., Pharm.D. or graduate degree, you will be considered an independent student for financial aid purposes, regardless of your dependency status. However, for campus-based aid consideration and eligibility, including institutional loans, you must provide parent information on the FAFSA. Parental information, though, will NOT be used to determine your eligibility for federal loan funding.

A new application must be submitted each year.

Before You Submit

• Make sure to include NEOMED’s school code (G24544) as one of the schools of choice
• Indicate that you are seeking a graduate/professional program and working on a masters/doctorate degree
• Make sure to sign your FAFSA application

Timing

• Annual application material becomes available in October for the FAFSA
• FAFSA applications must be submitted by March 15 each year.

Visit the FAFSA site

Step 2

Complete Your Required NEOMED Forms

All students applying for financial aid are required to complete the following forms, available on Banner Self-Service:

• Financial Aid Statement of Certification
• Title IV Authorization (New students only)

Timing

• October 1 through March 15

Access Banner Self-Service

Step 3

Complete the NEOMED Campus-Based Aid Application (optional)

The campus-based aid application is not required, but is highly recommended. Only students who complete the campus-based aid application on Banner Self-Service will be eligible for need-based scholarships, grants and loans available through the NEOMED Foundation, as well as low-interest rate subsidized loans through the Department of Health and Human Services.

Timing

• October 1 through March 15

Access Banner Self-Service

Step 4

Watch For & Respond to Any Communications from NEOMED

While your application is being processed, you may be asked to provide additional documentation or information. Communications may be sent by our automated system or directly from one of our staff members.

Your financial aid may be placed on hold or withdrawn if the additional information requested from you is not provided in a timely manner.

Timing

• Ongoing

Step 5

Accept, Reduce or Reject Your Financial Aid Offer

After your application is processed, you will receive an email in May letting you know how much financial assistance is available to you. This financial aid package could include loans, scholarships and grants.

What to do after receiving your financial aid offer

• Make a decision to accept all or a portion of the financial aid offered at least three weeks prior to the start of the academic year.
• Complete promissory notes and/or any relevant counseling sessions.
• Write a thank you note if awarded a Foundation Scholarship. Recipients will receive a scholarship award letter with details.

Timing of billing and disbursement of aid

Please note: Students who do not complete or accept financial offered by the deadline will see a delay or cancellation of campus-based aid awards.

The chart below represents:

• The Start Date, End Date and Number of Months columns represent the period of enrollment and the number of months living expenses are given for the period.
• The Disbursement Date column represents the day financial aid is eligible to disburse for the period of enrollment. Please allow one week for available refunds to be provided.
• The Billing Date column represents the day the Accounting Department will issue term charges to your account. You can learn more about the charges being assessed on their website.
• The Disbursement + 120 Days column represents the timeframe students are able to return any portion of the term’s disbursement so principal can be credited and any interest that accrued on the returned portion is forgiven.