Your detailed information:
Graduate School of Basic Medical Sciences
Newly Accepted Student in the Graduate School of Basic Medical Sciences Accelerated Master's Program
At New York Medical College, we use the 2010-2011 Free Application for Federal Student Aid (FAFSA). This Needs Analysis System, created by Congress, will determine what a student’s and their spouse’s contribution should be, based on their income and assets for the previous tax year. THIS AMOUNT IS NOT CALCULATED BY THE OFFICE OF STUDENT FINANCIAL PLANNING, it is calculated by the Department of Education.
Once a contribution amount is established, the Office of Student Financial Planning can determine how much assistance will come from each category.
Federal regulations require ALL borrowers to read and sign an entrance counseling form. The purpose of the counseling is to acquaint you with your rights, responsibilities and obligations under the loan programs.
All students are encouraged to make an appointment, once in school, with a counselor to further discuss Financial Aid issues/needs.
It is mandated that students apply for need-based loans first. Need-based loans have the best terms available. If you do not qualify for these loans or for the full amount you requested, you may then apply for non need-based loans to supplement your budget needs.
Students should be aware that loans are disbursed in two installments. For example, a student requests an $8,500 Federal Direct Subsidized Stafford Loan. For the first semester, the Department of Education will release half the requested amount, minus any applicable fees. For the second semester, the Department of Education will release the second disbursement for half the requested amount, minus any applicable fees