NYMC > Current Students > Office of Student Financial Planning > Types of Aid > School of Health Sciences and Practice > M.P.H. and Dr.P.H. Programs

Continuing or Newly Accepted Student in the M.P.H. or Dr.P.H. Programs

A student must be matriculated, attending at least half-timemaintain satisfactory academic progress in a degree granting program and either a US citizen or eligible noncitizen to qualify for Financial Aid (student loans).

The following information regarding sources of Financial Aid (student loans) are only for citizens and eligible noncitizens. International students should contact the Bursar's Office for payment arrangements.

Details of Federal Student Aid programs are subject to legislative and regulatory changes without prior notice.

The Office of Student Financial Planning reserves the right to modify financial aid awards, when required, due to changes in a student’s financial aid eligibility. If there are changes to a student’s award(s), an email notification will be sent to the student’s official NYMC email account.

 

LOANS

Federal Direct Unsubsidized Stafford Loan

Requirements:

  1. 2018-2019 Free Application for Federal Student Aid (FAFSA)
  2. 2018-2019 NYMC Financial Aid Information Form
  3. Federal Direct Stafford Loan Master Promissory Note, if required (refer to Step 5 of  Apply for Financial Aid for explanation)
  4. No previous student loan default problems
  5. Matriculated status
  6. Registered for at least half-time credits (6 credits or more per semester)
  7. Maintain satisfactory academic progress
  8. US Citizen or Eligible Noncitizen

Amount: $20,500 per academic year

Additional information:  Interest will accrue while the student is in school and only when the money is disbursed. For the Academic Year 2018-2019, for loans first disbursed on or after July 1, 2017 the interest rate will be 6%. For loans first disbursed on or after July 1, 2018 the interest rate will be 6.595%. The loan will be disbursed according to the semesters you are registered for within an Academic Year. For example: If registered for the Fall and Spring you will receive half of your loan for the Fall semester and half for the Spring semester, minus any applicable federal mandated origination fees.

For loans first disbursed on or after October 1, 2017, the U.S. Department of Education will deduct a 1.066% origination fee from each loan disbursement.

Repayment begins 6 months after the grace period or an authorized deferment period has finished.

Graduation deferments for new borrowers as of 7/1/93 are limited to: 

  1. In school
  2. Economic hardship
  3. Unemployment

 

PLEASE NOTE:

During the course of the Academic Year, a student may receive additional funding that exceeds the maximum assigned financial aid Cost of Attendance (budget). If this occurs, the Office of Student Financial Planning is required to return the over award amount to the highest interest bearing loan first, if applicable.

 

Federal Direct Graduate PLUS Loan

Credit approval based on the student not having an adverse credit history. To request a copy of your current credit reports and credit scores, please refer to Financial Aid Links.

Requirements:

  1. 2018-2019 Free Application for Federal Student Aid (FAFSA)
  2. 2018-2019 NYMC Financial Aid Information Form
  3. Federal Direct Graduate PLUS Loan Master Promissory Note, if required (refer to Step 5 of  Apply for Financial Aid for explanation)
  4. No previous student loan default problems
  5. Matriculated status
  6. Registered for at least half-time credits (6 credits or more per semester)
  7. Maintain satisfactory academic progress
  8. US Citizen or Eligible Noncitizen

Additional information: Interest will accrue while the student is in school and only when the money is disbursed. The Federal Direct Graduate PLUS loan, allows students to borrow up to the total Cost of Attendance (budget) minus any financial aid resources received for the Academic Year. The student must be enrolled at least as a half-time student in an eligible program of study.

For the Academic Year 2018-2019, for loans first disbursed on or after July 1, 2017 the interest rate will be 7%. For loans first disbursed on or after July 1, 2018 the interest rate will be 7.595%. The loan will be disbursed according to the semesters you are registered for within an Academic Year. For example: If registered for the Fall and Spring you will receive half of your loan for the Fall semester and half for the Spring semester, minus any applicable federal mandated origination fees.

For loans first disbursed on or after October 1, 2017, the U.S. Department of Education will deduct a 4.264% origination fee from each loan disbursement.

Repayment of principle and interest begins 30-60 days after the loan is fully disbursed. Deferment options are available while the student is enrolled at least half-time in an eligible program of study.

Federal laws mandate that students must first borrow the maximum annual Federal Direct Stafford loan amount before borrowing the Federal Direct Graduate PLUS.

 

PLEASE NOTE:

During the course of the Academic Year, a student may receive additional funding that exceeds the maximum assigned financial aid Cost of Attendance (budget). If this occurs, the Office of Student Financial Planning is required to return the over award amount to the highest interest bearing loan first, if applicable.

 

 

PRIVATE LOANS

Federal laws require students must review Federal student loan options with the Office of Student Financial Planning before considering applying for a Private Loan. Federal student loans include many benefits not typically offered by Private Lenders. In comparison, private loans are generally more expensive than federal student loans. Please contact the Office of Student Financial Planning at 914-594-4492 for additional advice.

 

PLEASE NOTE:

During the course of the Academic Year, a student may receive additional funding that exceeds the maximum assigned financial aid Cost of Attendance (budget). If this occurs, the Office of Student Financial Planning is required to return the over award amount to the highest interest bearing loan first, if applicable.

 

 

GRANTS

The Veterans Administration Yellow Ribbon Program

The Veterans Administration Yellow Ribbon Program is an extension of the Post 9/11 GI Bill. It enables the VA and private, degree-granting institutions, like New York Medical College, to assist and possibly cover the tuition balance not covered by the Post 9/11 GI Bill benefit. If you have you have any questions about the Yellow Ribbon Program, please contact Pamela Suett, Director of Recruitment/Yellow Ribbon Liaison at 914-594-4759 or shsp_admissions@nymc.edu or visit the Veterans Affairs section of New York Medical College’s website.

 

PLEASE NOTE:

During the course of the Academic Year, a student may receive additional funding that exceeds the maximum assigned financial aid Cost of Attendance (budget). If this occurs, the Office of Student Financial Planning is required to return the over award amount to the highest interest bearing loan first, if applicable. 

 

 

College Work Study

The Federal College Work Study Program is a federally funded employment program. Employment opportunities are available to students who have demonstrated financial need according to the 2018-2019 Free Application for Federal Student Aid (FAFSA). Awards are need-based and are part of the student's Financial Aid package. A student may inquire about employment after arriving on campus at the Office of Student Financial Planning. Students will be allowed to work up to 20 hours a week and will be paid $15.00 per hour. 

 

PLEASE NOTE:

During the course of the Academic Year, a student may receive additional funding that exceeds the maximum assigned financial aid Cost of Attendance (budget). If this occurs, the Office of Student Financial Planning is required to return the over award amount to the highest interest bearing loan first, if applicable.