Financial Aid Guidelines & Policies

The Financial Aid Advisory Committee has established the following operational guidelines for students in the College of Medicine:

• Each medical student is responsible for arranging the financing of his or her medical education. The College of Medicine Financial Aid Office assists students in identifying appropriate sources of aid and is responsible for processing the financial aid applications submitted by the student.
• Financial aid funds are always applied to a student's University bill before any excess funds can be released to the student for living expenses.
• All students must apply for a federal Direct Unsubsidized Stafford Loan of at least $8,500 before they will be considered for additional financial assistance from the College of Medicine.
• The amount of financial assistance awarded from Federal and College of Medicine need-based funds will be based upon information from the Need Access need analysis program. In order to qualify for these funds, both the student and the parental portion of the Need Access program must be completed, regardless of the age or marital status of the entering student.
• Under ordinary circumstances, financial aid cannot exceed the student's cost of attendance for a given academic year.
• After the first year of medical school, all students in years two through four will be assessed the Ohio resident's budget in calculating financial aid awards. This does not automatically change the student's residency status with the University (see section on Becoming a Resident of Ohio).
• If a student receives an award from an outside source after receiving the school's financial aid package, the student must submit the notice to the school and, if necessary, be prepared to have a portion of the school-awarded financial aid retracted.
• The Financial Aid Advisory Committee serves as an appeal committee and will review individual student requests for exceptions to institutional policy. Requests for a review can be made by the Assistant Dean for Student Financial Planning or by medical students. Student requests should be made in writing and submitted to the Assistant Dean for Student Financial Planning.

The Financial Aid Advisory Committee has established the following policies for students in the College of Medicine:

• Divorced parents. Students must provide parental information from both parents if they are living. In cases where divorced parents have remarried, students may provide information from only one parent and that parent's spouse. In cases where divorced parents have not remarried, students must provide information from both parents.
• Parents residing outside the United States. Students who wish to be considered for need-based aid and whose parents are foreign nationals residing outside the U.S. are not exempted from the parental information requirement. Parental information can be submitted in the form of a statement of the parents income and assets and the amount that will be contributed toward the student's support. The statement must be signed by both parents and notarized by an appropriate agency.
• Budget increases for the support of dependents. A student may request a budget increase to pay for day care for dependents. The ability of the non-student parent to contribute to a portion of the day care costs for dependent children will be evaluated using the EFC from the FAFSA. Documentation of the cost and payment for these expenses will be required. The maximum allowable amounts of the increase are established each year.
• A student whose spouse is not working, a student who is a single parent, or a student with court-ordered child support payments can apply for a budget increase for the support of dependents. Documentation will be required, including a letter from a non-working spouse indicating the absence of income. The budget increase will be an amount established by the Financial Aid Advisory Committee. The current amount is $300 per month for each dependent child.
• Financial aid programs requiring a commitment to primary care. The Federal Primary Care Loan requires a commitment to practicing in a primary care field, will be offered to eligible medical students who notify the Assistant Dean for Student Financial Planning that they intend to train and practice in primary care. Such students should be prepared to demonstrate their exploration of and commitment to practice in a primary care field. The College of Medicine cannot provide funds to repay these loans or scholarships if a student decides not to enter a primary care field.
• Students denied loans due to poor credit. Students denied loans due to poor credit will not be awarded scholarship funds to meet their expenses. Loans are awarded only according to established eligibility criteria.

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