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

2. Financial Aid Ellen M. Gomes Director of Medical Student Financial Aid
Room 228C

3. What we do
Our mission is to assist students in finding the financial resources necessary to fund a medical school education. This includes scholarships, grants and loans.
We work with Student Affairs to ensure access to resources/information regardless of individual academic schedules such as:
students who wish to pursue additional degrees
students who take a year of leave for research

4. Topics Of Discussion Important Requirements Financial Aid Website
Cost of Attendance
Tuition and Fee Charges
Disbursements
Budgeting
Debt Management Program
Miscellaneous
10 Good Financial Habits
Q&A

5. Important Requirements
Every student with student loan funding will be required to schedule an appointment with the Office of Medical Student Financial Aid. We will discuss cost of attendance, budgeting, and other financial matters prior to the second disbursement of funds in January.
Prior to the meeting, you must complete:
A Budget Worksheet
The AAMC’s MED Loans Organizer
We will review your budgets to ensure you have a sound financial plan for the year and look at the resources available to you from the AAMC.

6. Important Requirements
Students must report any financial assistance provided by a source outside the University. This includes outside scholarships, grants and payments made on your behalf by others. Use the “Statement of Outside Resources” to report these resources. These resources may result in a change to your financial aid award, as your total aid cannot exceed your total budget.
Do not apply for a Short Term Advance through your My FAU account. That program is for students on the regular University Calendar. Emergency Short Term Advances (STA’s) are available through the College of Medicine Financial Aid Office.

7. Important Requirements
Notify the Office of Student Affairs, and the Office of Medical Student Financial Aid, immediately, if you want to:
Take a Leave of Absence
You will complete a request form, after which we will review your options and any financial aid implications.
Withdraw after starting classes
You may need to repay part of your financial aid if you withdraw before completing at least 60% of the enrollment period.
Drop without incurring charges
You will have to return any financial aid funds that were disbursed to you.
The last day to drop without charges: August 16, 2019

8. Financial Aid Website Cost of Attendance for each year
Helpful Resources
NSLDS – National Student Loan Data System
Financial Literacy Information and Credit Report Information
Student Borrowers Rights and Responsibilities
Important Dates - Payment and Aid Disbursement
Forms to Download
Contact Information

9. Important Dates

10. First Year Cost of Attendance 2019-2020
In State Off Campus Budget
Out of State Off Campus Budget
Tuition $ 28,111
Fees (inc. loan fees of $353) $ 3,992
Books and Supplies $ 2,085
Room and Board $ 13,794
Misc. Allowances $ 13,428
Total $ 61,410
On Campus $ 61,028
With Parents $ 50,352
Tuition $62,532
Fees (inc. loan fees of $353) $ 5,713
Books and Supplies $ 2,085
Room and Board $ 13,974
Misc. Allowances $ 13,428
Total $ 97,552
On Campus $ 97,170
With Parents $ 86,494

11. 2019-2020 Charges Florida Resident Non-Resident August 2019
Fee Due Date – 8/19/19
January 2020
Charges - $15,776.87
Fee Due Date – 1/20/20
August 2019
Charges - $34,043.74
Fee Due Date – 8/19/19
January 2020
Charges - $33,847.90
Fee Due Date – 1/20/20

12. Estimated Charges and Loan Disbursements
FL Resident
Non-Resident
Direct Loan Amount $21,133
Tuition and Fees $15,973
Disbursement = $ 5,160
(for living expenses)
Direct Loan Amount $21,133
Minus Tuition and Fees - $34,044
Remaining Balance <$12,911>
These figures are based on Fall 2019 Tuition, Fees and maximum Direct Loan amounts. Loan amounts could change if you receive other aid/resources and/or you accept a lesser amount of loan funding. The Graduate PLUS Loan may be used to fund any remaining balance due, as well as living expenses, up to maximum eligibility.

13. Budgeting Fall Disbursement Spring Disbursement January 14, 2020
Follow your budget carefully, as your funds must last until August of 2020
5-Month Budget (Jan – May)
Fall disbursement for year 2 will be on the 2nd day of classes (estimated 8/10/2020)
August 6, 2019
Follow your budget so your funding lasts until your Spring Disbursement
5-Month Budget (August – December)

14. Debt Management Program
First Year Medical Students: Fall Semester: Required to complete budget worksheet and MEDLoans Organizer and Calculator (MLOC), provide copy of budget worksheet at mandatory one-on-one meeting before Spring disbursement. Attend Mandatory Money Matters Lunch Sessions Spring Semester: Attend Mandatory Money Matters Lunch Sessions Second And Third Year Medical Students Attend Mandatory Money Matters Lunch Session Fourth Year Medical Students Attend Mandatory Exit Counseling and Transition to Residency Program

15. Miscellaneous Scholarship Thank-You Cards General COM Scholarships
Must be received before your funds can disburse. If you received a scholarship and were not asked to write one now, you may be asked later.
General COM Scholarships
These scholarships are shown on your a financial aid award screen. You will also see them on your student account when they are applied toward your charges.
Aid Disbursement
Starts today for loans and most scholarships. Other aid will follow, as the funds are received.

16. More Miscellaneous Bright Futures and Florida Prepaid
Please let us know if you have either. These funds will be posted to your account once the funds are received.
Military HPSP Funding
Please let us know if you have funding or are in the process of applying for funding for this year.
Accept or Decline your Aid Offers
If you do not accept your loans they will never disburse. If you do not want loans, please decline them.

17. Best Practices 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