Financial Aid Guide
— Applying for Aid —
VanNuys Medical Science Building
Financial Aid Offices
There are two financial aid offices on the Indiana University Purdue University at Indianapolis (IUPUI) campus. The office for medical students is the IU School of Medicine's Medical Student Affairs Student Financial Services (MSA-SFS).
The MSA-SFS is housed in the Medical Science Building on the Indianapolis medical school campus and is specifically there to serve medical students and students in related medical programs. Prospective medical students as well as current medical students are encouraged to contact MSA-SFS for questions specific to medical school financial aid.
The IUPUI Office of Student Aid Financial Services (IUPUI-OSFAS) is located on the IUPUI campus.
- Financial Aid Offices |
- Determining Eligibility |
- Submit an Application for Financial Aid
- Renewing Financial Assistance |
- Students' Responsibilities |
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MSA-SFS
The MSA-SFS assists medical students and residents in maintaining financial stability through personal financial aid counseling, including help with budgeting and debt management. The office also administers the various IUSM financial aid programs, including short and long-term loans, medical school scholarships and fellowships and the Indiana Primary Care Scholarship Program. This office also processes and awards federal funds including working with recipients of the National Health Service Corp and the Armed Forces Health Profession Scholarship Program. The office works closely and has access to student information with the IUPUI-OSFAS and the IUPUI Office of the Bursar.
IUPUI-OSFAS
- administers Title IV and Title VII federal aid programs for medical students at the IUPUI campus and processes these sources through MSA-SFS,
- receives the Free Application for Federal Student Aid (FAFSA) electronically from the federal processor, and
- procures additional information from students to resolve any educational edits that may come through the FAFSA that needs to be resolved. This include verification of FAFSA data, citizenship issues and selective services issues.
- Financial Aid Offices |
- Determining Eligibility |
- Submit an Application for Financial Aid
- Renewing Financial Assistance |
- Students' Responsibilities |
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- Tuition and fees
- Room and board
- Books and supplies
- Transportation
- Personal and miscellaneous expenses
- Parent contribution (for institutional aid only as described above)
- Student's contribution from assets and available earnings as calculated through the FAFSA
- Other resources such as outside scholarships/awards
- Financial assistance based on financial need which includes all need-based IUSM scholarships and any institutional funds based on parents ability to contribute and where financial need is a factor.
- Financial Aid Offices |
- Determining Eligibility |
- Submit an Application for Financial Aid
- Renewing Financial Assistance
- Students' Responsibilities
- »Top
- IU School of Medicine Application for Financial Assistance
For priority consideration, submit the above form to MSA-SFS by May 31. This application is used exclusively for determining IUSM Scholarship and Fellowship eligibility. This is determined at the annual IUSM Scholarship Committee meeting in late-June. Not having this application on file is automatic exclusion from being considered.
Note: Applications received after May 31 may not be considered, but may be used later in the event additional IUSM Scholarship and Fellowship funds are made available later in the academic year. The IUSM Scholarship Committee meets at the end of June and scholarship letters go out in July.
Entering first year recruitment/merit scholarships are generally offered beginning in January through April using academic data from the IUSM Admissions Office. Recipients are notified by letter and e-mail during the January through April period. Academic Achievement scholarships for medical students after the first year are decided at the June IUSM Scholarship Committee meeting using academic performance information made available by the Medical Student Affairs-Student Records Office. Approximately the top 10% of medical students in each of the 2nd, 3rd and 4th year class will receive academic scholarships consideration ranging from $1,000 - $5,000. This is an annual consideration.
- The Free Application for Federal Student Aid (FAFSA)
Must be submitted to the Federal Processor online in order to be considered for any federal and institutional financial aid programs. The priority date is March 10. This is not a deadline, but instead a target date to get the FAFSA in so that a timely response can be expected. Students accepted after March 1 are encouraged to submit the FAFSA application as soon as possible to begin the financial aid process.
Students who filed the FAFSA electronically previously should use their PIN in completing the new FAFSA. If you are a first time FAFSA applicant, please go to http://www.pin.ed.gov to apply for a PIN. The PIN is important because it serves as your electronic signature streamlining the FAFSA submission process. Continuing medical students should have already secured a PIN when they first applied for financial aid.
All students who wish to be considered for IUSM scholarships and fellowships (based partly or solely on financial need), Loans and Scholarships to Disadvantaged Students (LDS and SDS) and the Federal PCL (preference given to third and fourth year medical students), must complete the parental sections on the FAFSA. No exceptions will be granted by the MSA-SFS. If both parents are deceased, copies of the death certificates must be submitted to the school in order to waive the parental information requirement.
- Direct Loan (DL) Federal Stafford Loans (Subsidized and Unsubsidized)
and DL Master Promissory Note
(MPN)
For returning students: The assumption will be made that all students will want to be considered for the full Federal Stafford Loan eligibility. No consideration is given to students meeting their expenses with other resources (i.e., personal funds, outside scholarships, or parental support). There is no additional application process (other then filing the FAFSA) as we will notify continuing medical students of their eligibility via a financial aid notification and on ONESTART (student's portal to their record at IUPUI). Students will have the opportunity to modify loans once notified. The FAFSA has to be in place before any loan funds can be packaged or processed. If you have never borrowed through the Direct Loans (DL) Federal Stafford Loans before, you will need to complete a DL Master Promissory Note (MPN). You will be notified when the MPN is ready for completion online. The MPN is only completed once in the four years of medical school.
For new students: Once notified of your loan eligibility through the DL Federal Stafford and/or DL Graduate PLUS Loan, your next step will be to either Accept, Reduce or Decline the loan amouonts in ONESTART (www.onestart.iu.edu). To decline the loans, you must go to ONESTART and select the decline box. Complete all steps until you reach the confirmation page. At this point your DL Federal Stafford Loan has been declined and no further action is needed. To ensure your student loans are processed in a timely manner and that funds will be available to you by the beginning of the Fall semester, please go to ONESTART to Accept, Reduce or Decline your award no later than July 15.
Beginning in July, you will receive an email notification to electronically sign your DL Master Promissory Note (MPN). Please note, in order to receive this email notification you must have accepted your DL Federal Student Loans. If you have accepted your awards and completed your DL MPN by July 31, your loan funds should be sent to IUPUI to be applied towards your bursar account on time and by the beginning of the Fall semester. Please note that you will be registered by the school at some point toward the middle of July. Registration must be in place to allow funds to be disbursed to the IUPUI. - Financial Aid Offices |
- Determining Eligibility |
- Submit an Application for Financial Aid
- Renewing Financial Assistance |
- Students' Responsibilities |
- »Top
- providing accurate and complete financial information on the FAFSA, as well as completing the FAFSA in a timely manner,
- reporting annually to MSA-SFS all outside aid including that received through the Armed Forces Health Professions Scholarships, National Health Service Corps Scholarships, outside scholarships or local awards,
- maintaining good academic standing (for scholarship consideration) as described in the IUSM Student Manual,
- providing documentation, corrections, and/or additional information requested by either IUPUI-OSFAS or MSA-SFS,
- attending an exit interview prior to graduating for all federal and institutional loans received while attending the IUSM,
- reading, understanding, and keeping copies of all disclosures and signed forms,
- notifying the MSA-SFS of a change in name and/or address, and
- maintaining appropriate behavior at all times in dealing with the IUPUI Office of the Bursar, the IUPUI-OSFAS, and the MSA-SFS.
Determining Eligibility
Medical student eligibility for medical school financial assistance is determined by evaluating both the student's and spouse's ability to contribute. When appropriate, the parental information or ability to contribute is also used for specific programs like the Federal Scholarships to Disadvantaged Students (SDS), Federal Primary Care Loan (PCL) and the need-based IUSM Scholarships and Fellowships. We encourage medical students to submit the parental information on the FAFSA for consideration of these programs regardless of the student's independent status or age. The parental information on the FAFSA is used to calculate a parental contribution (PC). The PC along with the student's ability to contribute of SC is taken into consideration when awarding institutional funds that includes any IUSM scholarships and fellowships based fully or in part on financial need.
Recipients of the Armed Forces Health Professions Scholarship Program (AFHPSP) or the National Health Service Corps Scholarship (NHSC) are not eligible to receive certain types of federal financial aid (LDS, SDS, and PCL) except eligibility for Direct Loans Federal Stafford (subsidized and unsubsidized) Loans is allowed. Recipients of the NHSC and AFHPSP are also excluded from IUSM scholarships and fellowships (some exception may apply).
How Student Eligibility for Financial Aid is Determined
| Cost of Education — | Student Resources = | Financial Need |
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Submit an Application for Financial Aid
Students should complete the following steps by the appropriate priority dates. Priority dates are target dates to assure timely notification of financial aid eligibility and should not be mistaken as deadlines.
Renewing Financial Assistance
Students apply for financial assistance on an annual basis. The FAFSA is required every year to re-establish eligibility.
Responsibilities of Students Receiving Aid
Students who receive financial assistance from programs administered by the IUPUI-OSFAS or the MSA-SFS have special responsibilities that include:
Students who fail to honor these special responsibilities may compromise eligibility for financial aid from the IUPUI-OSFAS and/or the MSA-SFS.