Section 4: Financial Aid

Section 4: Financial Aid


 

Application Process

Tuition and Fees for First Year Students

Loans

Alternative Loans

Scholarships and Grants

Application Form

Philosophy of Selection Process

Notification of Award

Maintaining Renewable Awards

Private Scholarships

Satisfactory Academic Progress (SAP) Policy for Financial Aid

Tuition Refund Policy

Tuition Refunds Associated with a Leave of Absence

 

Application Process

After January 1 of each year, the Free Application for Federal Student Aid (FAFSA) will be available on-line at www.fafsa.gov . By submitting the FAFSA, students will be considered for the loans outlined below. A new application must be submitted each year. The majority of the students who attend the CMED receive financial aid in the form of loans. While scholarship opportunities do exist, the primary funding is from loans. There are no deadlines for filing financial aid applications but the preferred date is March 1. The Central Michigan University school code is 002243.

 

Upon completion of your FAFSA application, students will be considered for financial aid. The award package is determined according to federal, state, and university regulations and available funding levels for each aid year. The Financial Aid Office considers loan and scholarship eligibility in the order most beneficial to students.

 

Students will be sent a paper copy and an e-mail notice of financial aid which they must accept or decline. Before accepting the award, students should assess their actual needs. We strongly recommend students establish a budget that is less than the school approved budget. If students are able to live on less than the school approved budget or have outside resources (savings, help from relatives, etc.), they should not automatically accept the entire award. This will help keep indebtedness to a more manageable level.  Students are advised to consider actual needs and accept only what is needed. 

 

Tuition and Fees for First Year Students

      

Estimated
In-State Costs

Estimated
Out-of-State Costs

Tuition and Fees

$34,536

$68,072

Book, Supplies, Computer

$4,000

$4,000

Room, Board and Transportation

$15,088

$15,088

Personal

$3,000

$3,000

Health Insurance

$1,855*

$1,855*

Loan Fees

$1,215**

$1,215**

TOTAL

$59,694

$93,230

* Health Insurance fees will be added to your charges if you are not covered by other insurance.

** Fees charged by the Direct Loan program at disbursement.

 

Loans

Several federal loans are available for medical students. These loans are awarded to students each year depending on individual student need and according to current federal regulations. Included in this category are:

        Ford Federal Direct Unsubsidized Loan

        Direct Grad Plus

 

Alternative Loans

Loans that generally require separate application. These are generally higher interest loans and are not automatically awarded as part of the initial award process.

 

Scholarships and Grants

Most scholarships and grants do not require repayment. These are awarded on the basis of academic achievement and/or financial need.

 

Application Form

CMED uses a generic form that encompasses the required documentation needed for all scholarships.  This will included a listing of the required essay question(s).  Students are made aware of the availability of the application via e-mail and a scholarship mailing to accepted students. 

 

Philosophy of Selection Process

To be considered for need-based awards and scholarships, students must complete the (FAFSA).  The philosophy in awarding scholarships gives priority to applicants who best meet the stated scholarship criteria.

 

Notification of Award

Recipients will be sent a letter to notify them they have been selected to receive the named scholarship, the estimated amount of the award, and whether full disbursement will all take place in the fall or be split equally between the fall and spring. The recipients will be provided with the name and address of the donor, except in cases where the donor prefers to remain anonymous.  This will allow the student to send the donor a letter of appreciation which should include biographical data and career goals. 

 

All CMED scholarships that are restricted to Central Michigan University students must be treated as a financial resource.  The award will reduce student financial need, and will be included as aid in meeting the student's overall cost of attendance. 

 

Maintaining Renewable Awards

Part time attendance or withdrawal from the college and the university will result in cancellation of any current or future CMED scholarship. 

 

Once a renewable scholarship has been awarded to a student it will be the practice for the student to maintain the award through graduation as long as the student is maintaining the scholarship's published criteria and funding allows. 

 

Students must maintain good academic standing with the CMED in accordance with the Committee on Student Performance and Conduct Academic Performance and Conduct Standards to have their scholarship renewed. 

 

If financial need is a scholarship requirement, the student must complete a new FAFSA each year. 

 

Private Scholarships

Private scholarship may be found on your own or by searching the Web for graduate/professional scholarship opportunities.

 

Satisfactory Academic Progress (SAP) Policy for Financial Aid

All medical students enrolled at the CMED are considered to be making satisfactory academic progress unless otherwise determined by the Student Performance and Conduct Committee (SPCC).

 

CMED does not measure academic progress by means of a cumulative grade point average. The student is required to complete all required courses in the curriculum with a passing grade in order to graduate. Therefore, grade performance as a measure of satisfactory academic progress for financial aid eligibility must be reviewed in the context of each course for which the student registers. The standards of academic progress are based on the guidelines used by the SPCC, who determine whether a student is making Satisfactory Academic Progress.

 

A student's academic progress for financial aid purposes will be reviewed in accordance with the guidelines used by SPCC. Any student required to remediate or repeat coursework will be reviewed by the Office of Student Financial Aid for not meeting SAP. Third and fourth-year students will be reviewed on advice from the SPCC.

 

Students must include the following as part of their appeal:

 

        An explanation of why they failed to meet the SAP requirements (documentation may be requested depending upon circumstances).

        Specific information about what has changed to allow them to meet the requirements in the future.

        An academic plan that has been agreed upon by the student and that has been approved by the Dean or authorized designee.

        The Office of Financial Aid will notify the student in writing of a final decision within one week.

 

Throughout this period the student will be on financial aid remediation. A student in this status must be meeting the requirements as outline in their academic plan.

 

Students denied financial aid after completing the appeal process or failing to meet their academic plan can regain full eligibility for financial aid by: 

 

        Successfully repeating coursework that will meet or exceed the minimum required.

 

Students who have taken the necessary measures to regain eligibility for financial aid must contact the Senior Associate Director for Financial Aid for the CMED immediately upon doing so. Students' academic performance will then be reviewed, and if all required SAP criteria is met, full financial aid eligibility will be reinstated, effective the following semester.

 

The normal timeframe for completion of required course work for the M.D. degree is four academic years. Due to academic or personal difficulties, a student may require additional time. In such situations a schedule may be established for the student that departs from the norm and that may require repeating a year of study. To be considered to be making Satisfactory Academic Progress for financial aid eligibility, the student must complete the first two years of the curriculum by the end of the third year after initial enrollment. The maximum time permitted for financial aid eligibility for the M.D. completion is six years (150% of the number of credits needed to complete the degree program).

 

A student may be granted a personal or medical leave of absence for a variety of reasons. The period of leave for which the student has been approved may be excluded from the maximum time frame in which an individual student will be expected to complete the program. This determination will be made by consideration of an appeal, submitted by the student, to the chief financial aid officer for CMED. The period of time for which a student is registered to pursue full-time research or other academic interests shall be excluded from the maximum time frame in which an individual student will be expected to complete the degree.

 

Since the SPCC may give approval for an individual student to repeat a portion or all of a school year (subsequent to incomplete or unsatisfactory course work or an approved leave of absence), the maximum time for financial aid eligibility is 6 years, excluding time spent on an approved academic leave of absence. The required number of units to be completed at the end of each enrollment period will vary in these cases, according to what portion of the curriculum must be repeated. Students approved to repeat course work are meeting the school's standards for Satisfactory Academic Progress. Students who have reached their maximum time frame are not able to regain financial aid eligibility.

Faculty will be made aware of this policy each year through distribution of the Academic Standard Guidelines.

 

Tuition Refund Policy

For students who withdraw prior to the first day of classes, 100% refund of tuition will be issued. Once classes begin, refunds will be calculated as follows:

 

        A refund of 100% for withdrawal during the first week of the term

        A refund of 50% for withdrawal during the second through fourth week of the term

        No refund will be made after the fourth week of the term

 

Tuition Refunds Associated With a Leave of Absence

A leave of absence (LOA) is an approved leave from the medical school for a definite period of time, not to exceed one year. A student taking an LOA will be charged in accordance with the above refund policy. If an LOA occurs after the fifth week of the term, the student will be charged full tuition for the term in which the leave commences. When a student returns to the medical school to complete an unfinished term, the student will not pay tuition for the remaining months of that term. The student will have been charged full tuition for the entire term prior to his/her leave. For example, if a student leaves mid-fall term of 2010 and returns to complete the fall term in 2011, that individual will be charged full tuition prior to the leave, but will not be charged tuition upon return to complete the fall term.

 

When a student takes an LOA between the third and fourth year and enrolls in rotation(s) that occur between July 1st and September 1st, the student will be charged a pro-rated tuition for credits taken during this time. Upon return, tuition will be adjusted so that the student pays no more than one full tuition amount for that semester, assuming that the student is taking less than a full workload. Should a returning student want to take on additional credit hours, full tuition will be charged in addition to the pro-rated tuition charged prior to the LOA.

 

A student who repeats coursework due to failure will not be charged additional tuition to repeat the failed course(s).

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