Financial Aid Important Dates

 

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* 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.)

 

**Return to Title IV (R2T4)

Students who do not complete more than 60% of each Semester (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.

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 8^th, 2022
• Student withdraws or otherwise stops attending on October 3^rd, 2022 (attended through October 3^rd, 2022)
• Student completed 56 of 131 days, or 42.748% of the Semester
• 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 August 1^st, 2022
• Student stops attending (withdraws or otherwise stops attending) on October 21^st, 2022 (attended through October 21^st, 2022)
• Student completed 81 of 138 days, or 58.696% of the Semester
• 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 41.803% of his/her Federal student loan funds, or $8,275.33

Unearned Institutional charges at 41.135% of $15,970.68, are $6,596.59.

The lesser of these two numbers, rounded to the dollar ($6,597), must be returned to the Federal student aid programs by the school and the student will be billed for the returned amount.

 

Example #3

• MED4 Student
• Tuition and Fee Charges for 1^st half of the year are $16,002.72
• First day of Class is May 23, 2022
• Student stops attending (withdraws or otherwise stops attending) on September 26^th, 2022 (attended through September 26^th, 2022)
• Student completed 126 of 168 days, or 75% of the Semester
• 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 Semester and is considered to have earned all of his/her funding for the Semester (half year). Return of funds is not required.