Student Aid Award & Information
STUDENT AID AWARD
Upon acceptance to the College of Medicine and receipt of your FAFSA information, financial aid awards are determined. You are notified of these awards by an Award Notification. This should arrive by the end of April.
Your award components are based upon your eligibility and may include the following:
- Scholarships or Loans from private and/or outside sources
- Institutional Scholarship
- Institutional Loan
- Federal Direct Unsubsidized Stafford Loan up to the annual maximum
- Federal Direct Graduate PLUS Loan
The total award package will not exceed the institutionally determined cost of attendance. In order to receive your financial aid, you are required to enroll at least half time per semester. Initially, your award is made on the assumption that you will enroll as a full-time student. If your enrollment is not full-time, your aid eligibility must be recalculated. The amounts and types of financial assistance can change from year to year.
If you receive financial assistance, including scholarships, loans and grants, that is not included on your financial aid notification from the Office of Student Aid, you must report these amounts to the Office of Student Aid. Federal regulations require that these funds be taken into account in determining your eligibility for federal student aid. If the assistance that you receive from private or outside sources results in an over award, an adjustment will be made to your financial aid award so that your total financial assistance is not greater that the institutionally determined Cost of Attendance.
The financial aid awarded you by the College of Medicine is only for the time period stated on your award letter and can be used only at The Pennsylvania State University College of Medicine. Your financial aid application, and all supporting documents received by the financial aid staff pertinent to your application, become the property of the Office of Student Aid and cannot be returned to you or transmitted to another institution.
Standards of Satisfactory Academic Progress
All students receiving federal student financial aid funds must comply with the College of Medicine Standards of Satisfactory Academic Progress. The intent of this policy, which is mandated by the U.S. Department of Education, is to insure that students receiving federal financial aid for their education are making measurable progress toward completion of their degree in a reasonable period of time. In short, the purpose of this policy is to insure that federal funds are not provided to students who fail to perform and progress academically at a minimally accepted level.