NYMC > Current Students > Office of Student Financial Planning > Apply for Financial Aid > School of Medicine > Newly Accepted Student

Newly Accepted Student

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. 

FINANCIAL AID DEADLINE IS THURSDAY, APRIL 27, 2017

Step 1. Create a FSA ID. A FSA ID gives you access to Federal Student Aid’s online systems and can serve as your legal signature. If you already have a FSA ID, you do not have to register again.

Step 2. Complete and submit the 2017-2018 Free Application for Federal Student Aid (FAFSA). Starting with the 2017–2018 FAFSA, you are required to report income and tax information from an earlier tax year. On the 2017–2018 FAFSA, students (spouses and parents, if applicable) will have to report the US 2015 income and tax information, rather than the 2016 US income and tax information, this is known as Prior-Prior Year. The IRS Data Retrieval feature has been disabled by the IRS, the Office of Student Financial Planning suggests, you manually input your and your spouse's (if applicable) US 2015 income and tax information as it appears on the 2015 US Federal tax return, into your FAFSA.

You must complete a FAFSA every year, if you wish to receive financial aid. 
New York Medical College’s Federal School Code is G02784.

If you want to be considered for any possible Institutional Funds, US parental data must be included on the FAFSA. Parental data will only be used for consideration of Institutional Funds. Parents must request a 2015 IRS Return Transcript. The parental Return Transcript must be submitted along with the Application for Financial Aid (Step 3 below). To request the parental transcript, please access, IRS Transcript Request

If you ONLY want to be considered for Federal Direct Unsubsidized Stafford loan and the Federal Direct Graduate PLUS loan, you DO NOT need to provide parental data on the FAFSA.

Parental data will not be used for the above listed loan types. 

Step 3. Complete and submit the NYMC Application for Financial Aid (link found below).

Application for Financial Aid

Please submit the NYMC Application to: (No faxes or scans can be submitted)

New York Medical College
Office of Student Financial Planning, Room 125C
40 Sunshine Cottage Road
Administration Building
Valhalla, NY 10595

Step 4.  Master Promissory Note(s) and  Entrance Counseling(s).

FIRST YEAR students who have received Federal Direct Unsubsidized Stafford loan funds, from having attended a previous institution, for the Academic Year 2016-2017, do not have to complete a Federal Direct Stafford/Federal Direct Unsubsidized Stafford Loan Master Promissory Note.

FIRST YEAR students who have not received Federal Direct Unsubsidized Stafford  loan funds for the Academic Year 2016-2017, must complete a Federal Direct Stafford/Federal Direct Unsubsidized Stafford Loan Master Promissory Note (promissory notes become inactive if funds are not disbursed within an academic year), please access the Federal Student Loan website to complete the Federal Direct Stafford/Federal Direct Unsubsidized Stafford Loan Master Promissory Note. You will need your FSA ID to log in.

If you are accepting more than the maximum Federal Direct Unsubsidized Stafford  loan amount of $44,944, you will also need to borrow the Federal Direct Graduate PLUS Loan. The approval of the Federal Direct Graduate PLUS Loan is based on the student not having an adverse credit history.

FIRST YEAR students who have received Federal Direct Graduate PLUS loan funds, from having attended a previous institution, for the Academic Year 2016-2017, do not have to complete a Federal Direct Graduate PLUS  Loan Master Promissory Note.

FIRST YEAR students who have not received Federal Direct Graduate PLUS loan funds for the Academic Year 2016-2017, must  complete a Federal Direct Graduate PLUS Loan Master Promissory Note  (promissory notes become inactive if funds are not disbursed within an academic year). Please access the Federal Student Loan website to complete the Federal Direct Graduate PLUS Loan Master Promissory Note. You will need your FSA ID to log in.

All FIRST YEAR BORROWERS must also complete an Entrance Counseling for each loan type borrowed (listed above). Please access the Federal Student Loan website to complete the federal mandated Entrance Counseling(s).

 

Award Notification

Once you have submitted the appropriate accurate financial aid paperwork, your financial aid eligibility will be determined. You will be notified via email, to access the TouroOne Portal, with instructions on how to accept, decline, or reduce your offered aid.  The Award Notification will be sent to your official NYMC email account.

Provide any additional documents requested by the Office of Student Financial Planning.

It is the student’s responsibility to submit the required financial aid paperwork to the Office of Student Financial Planning, by the financial aid deadline and to follow up if financial aid expected to be received was not awarded or disbursed.