Students must be registered for classes, maintain academic satisfactory 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 Renewal Free Application for Federal Student Aid (Renewal FAFSA). This Needs Analysis System, has been created by Congress.
Federal regulations require first time borrowers to complete an entrance counseling session. Students should access the Federal Student Loan website to complete the entrance counseling session. 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.
Student loans are disbursed according to the number of semesters you are registered for within an Academic Year. For example, a student requests the maximum $20,500 Federal Direct Unsubsidized Stafford Loan for the Fall and Spring semesters. For the first semester, the Department of Education will disburse $10,250, minus any applicable federal mandated origination fees. For the second semester, the Department of Education will disburse the second disbursement of $10,250, minus any applicable federal mandated origination fees.