1. Charles E. Schmidt College of Medicine Medical Student Financial Aid

2. Who We Are Ellen M. Gomes Mark A. Vigorito
Director of Medical Student Financial Aid
Room 228C
Mark A. Vigorito
Assistant Director of Medical Student Financial Aid
Room 228D

3. Financing Your Medical School Education
What is Financial Aid?
Categories, Types, and Sources of Financial Aid
Free Application for Federal Student Aid (FAFSA)
Cost of Attendance (COA)
Sample Budget
Expected Family Contribution (EFC)
Financial Need & Special Circumstances
Debt & Credit Management

4. What is Financial Aid?
Financial aid is any available funding that pays
for part or all of your education costs.
It can come from any of the following:
Savings
Financial support from family
College scholarships and grants
Federal and State Financial Aid Programs
Your own scholarship searches

5. Categories & Types of Aid
Categories of Aid
Need Based
Non-Need Based
Types of Aid
Gift Aid – Grant and Scholarships
Does not need to be repaid
Is awarded based on merit, skill or a unique characteristic
Self-Help Aid - Student Loans
Has to be repaid

6. How Do I Apply For Financial Aid?
Complete the Free Application for Federal Student Aid (FAFSA) at
Our School Code is
Go to to complete the Direct Loan Master Promissory Note (MPN) and Entrance Counseling
Complete the Graduate PLUS Loan Application, MPN & PLUS counseling if you need to borrow additional funding*
*If you do not qualify for credit-based Graduate PLUS Loans, you must either have an eligible endorser or other plans/resources to meet your costs.
Note – If you are in default on a Federal Student Loan or owe a repayment of a Federal Grant, you will not be eligible for Federal Financial Aid.

7. Cost of Attendance (COA)
Direct Costs
Costs for which students are billed.
e.g. tuition, fees and student housing.
Indirect Costs:
Other costs for which students are not billed.
e.g. books & supplies, rent, utilities, gas, food, etc.

8. 2018-2019 First Year Cost of Attendance at the Charles E
First Year Cost of Attendance at the Charles E. Schmidt College of Medicine

9. Expected Family Contribution (EFC)
A student’s EFC is a calculated number that informs a school of the amount the student is expected to contribute to his or her education costs.
It is determined by the financial data provided on the student’s FAFSA.
Despite being considered Independent for Federal aid purposes, graduate students must provide their parent’s financial information to apply for College of Medicine (COM) Scholarships.

10. Financial Need
Financial Need is the difference between the student’s Cost of Attendance (COA) and EFC
COA-EFC= Financial Need
Financial Need can be funded with Grants, Scholarships and other assistance intended to fund Financial Need.
Non-need based aid (such as student loans) may also fund all or part of a student’s Financial Need.

11. What if I need more than Need-Based Aid?
Students can be funded up to their Cost of Attendance with non-need based aid.
Students with little or no need based aid may apply for non-need based aid to meet their expenses.
Non-need based aid include the following:
Federal Unsubsidized loans.
Graduate PLUS loans.
Private/Alternative loans.

12. Sample Budgets and Aid Direct Cost
Florida Residents
Non-Residents
*COM Scholarships may not exceed Tuition and Fee Charges
*NHSC, *HPSP awards, etc. will replace any COM tuition scholarship offer

13. S Sample Budgets and Aid Indirect Cost
Florida Residents
Non-Residents
*COM Scholarships may not exceed Tuition and Fee Charges
NHSC, HPSP awards, etc. will replace any COM tuition scholarship offer

14. Special Circumstances
If you experience special circumstances that result in additional costs not recognized in budget, tell your Financial Aid Administrator.
This includes but is not limited to:
Unusual medical expenses not covered by insurance
Child care
Unusual dependent care expenses

15. Debt & Credit Management
Eliminate or Reduce Outstanding Debt
Do Not Use Credit Unless It Is An Emergency
Develop a Budget to Track Costs and Spending
Only Borrow What Is Needed
Monitor Credit History & Credit Reports

16. Charles E. Schmidt COM Scholarship Opportunities
The Scholarship application for the academic year will be available on our webpage toward the end of this calendar year. From the COM webpage, click on Students, then M.D. Financial Aid to access our webpages.
Eligibility criteria and instructions regarding the application process are on page two of the application.
The scholarship committee carefully reviews each application to learn more about students and their goals as a physician, as part of the selection process.

17. Thank you and let us know how we can help you
Thank you and let us know how we can help you! Do you have any questions?