Students must be registered for classes, maintain satisfactory academic progress in a degree granting program and either a US citizen or eligible noncitizen to qualify for Financial Aid.
New York Medical College uses the Free Application for Federal Student Aid (FAFSA). This Needs Analysis System, has been created by Congress.
Federal regulations require first time borrowers to complete a Federal Master Promissory Note(s) and an Entrance Counseling Session(s). Students should access the Federal Student Loan website to complete the Federal Master Promissory Note(s) and the Entrance Counseling Session(s). The purpose of the counseling is to acquaint you with your rights, responsibilities and obligations under the loan programs.
All students are encouraged to communicate with the Office of Student Financial Planning, to discuss any financial aid questions. Federal regulations require a student to apply for the Federal Direct Unsubsidized Stafford Loan, before applying for the Federal Direct Graduate PLUS Loan.
Students should be aware that loans are disbursed in two installments. For example, a student requests a $20,500 Federal Direct Unsubsidized Stafford Loan. For the first semester, the Department of Education will release half the requested amount, minus any federal mandated origination fees. For the second semester, the Department of Education will release the second disbursement for half the requested amount, minus any federal mandated origination fees.