Financial Aid Frequently Asked Questions
The Office of Medical Student Financial Services (MSFS) at Georgetown University School of Medicine has an open door policy and welcomes any questions you may have concerning financial assistance programs. Below is a listing of frequently asked questions which you may find useful during the application process.
What is the FSA ID?
The FSA ID serves as your identifier to let you access your personal information in various U.S. Department of Education systems. With the FSA ID you may perform the following tasks: 1) electronically complete and sign your Federal Direct Loan Master Promissory Note(s), 2) electronically complete and sign the Free Application for Federal Student Aid (FAFSA), Renewal FAFSA, or FAFSA Corrections on the Web, 3) view the status and results of a processed FAFSA application on the FAFSA website, 4) access your Federal Student Financial Assistance information on the National Student Loan Data System (NSLDS) website, and 5) request a duplicate copy of your Student Aid Report (SAR).
How do I submit my completed GUSOM Application for Institutional Financial Aid?
Complete the application here.
Do I need an offer of admission to be able to apply for federal or institutional financial assistance?
No, you do not need to be accepted to apply for financial assistance. We encourage all applicants to the School of Medicine to apply for financial assistance regardless of acceptance status; this should ensure that you do not miss the institutional scholarship application deadline of January 2nd, in the event you receive an acceptance after that date. Applications will not be reopened after the deadline.
What materials are required to apply for Federal and Institutional Financial Assistance?
- Federal applicants only
- FAFSA with GUSOM federal code (E00518)
- GUSOM Federal Authorization Form
- Institutional aid applicants
- FAFSA with federal code (E00518)
- Parent’s information must be provided on the FAFSA if you are unmarried or if you are married and your spouse is not employed full time.
- GUSOM Application for Institutional Financial Aid
Do I have to provide parental information if I am independent or have a working spouse?
- Parent information is required for unmarried students under the age of 30 who wish to be considered for need-based institutional financial assistance. Students applying only for federal student loans are not required to provide parent financial information.
- Married students with a spouse who is currently employed full-time must include financial information on their spouse. Married students with a spouse who is not currently employed must provide parent financial information to be considered for institutional financial aid.
What are common mistakes encountered in the application process that may delay or impact your financial package?
- Not including the GUSOM federal code on the FAFSA
- Submitting the FAFSA for the incorrect academic year
- Submitting an incomplete financial aid application
- Not having the required signatures on the aid application
- Missing the application deadline
Is there a deadline to pay tuition and fees?
- Medical students are billed twice each academic year on a semester basis. The fall bill is available in early July and payment is due August 1. Spring bills are available in December and payment is due January 2.
- Students may view and pay their tuition bill electronically via MyAccess
- Questions regarding payment should be directed to the Office of Revenue and Receivables
Are payment plans available to students?
Yes, questions regarding payment plans should be directed to the Office of Revenue and Receivables
How do I waive the cost of student health insurance?
Student Health Insurance is automatically applied to every student account. In order to waive coverage, complete the student health insurance survey in MyAccess. The survey is generally available in July of each year.
What are some resources that can help me budget?
- Contact the Office of Admissions and Financial Aid
I have previous educational loans. Who processes requests for deferment ?
- Deferment requests are processed by the Medical School Registrar. Most lenders, however, participate with the National Student Loan Clearinghouse. The Clearinghouse collects enrollment data on each student and sends the information to loan servicing agencies and lenders. Contact your servicer/lender to ensure that they are able to receive enrollment data from the Clearinghouse. If they are not, please bring your loan deferment forms to the Office of the Registrar.
- If you have federal loans, you can view your lender information by logging into NSLDS. Private or institutional loans will not populate on NSLDS. You should look to your personal records or contact your undergraduate institution to identify any additional loans you may have.
How do I request a refund of financial aid fund in MyAccess?
A student tuition account refund occurs when financial aid is received in excess of tuition, fees and other institutional charges. Refunds are requested electronically in MyAccess and are processed by the Office of Revenue and Receivables. Students can opt to have a refund processed via either paper check or electronic funds transfer.
My tuition is paid by an outside agency (National Health Service Corps, military, etc.). What should I do?
Send a copy of your acceptance notification to the Office of Revenue and Receivables.
How does academic performance affect my financial aid?
Eligibility for financial aid funding is contingent upon a student maintaining a minimum standard of satisfactory academic progress determined by the Department of Education. You can view the satisfactory academic progress policy on our site.
Do you have any valuable resources for understanding loan repayment?
Yes, you may contact the Office of Admissions and Financial Aid with questions or to schedule an appointment. You may also utilize the online resources provided by the AAMC
What if I borrowed too much and would like to return funds?
Our office can return federal student loan funds on your behalf, without penalty, up to 120 days after disbursement. After 120 days, you will need to return loan funds directly to your loan servicer; you will be responsible for origination fees and accrued interest on the loan amount you are returning. Please contact our office for additional information regarding loan returns.
What if I borrowed too little and would like to accept funds I originally declined?
You have until two weeks before the end of the academic year to accept federal student loan funds you initially declined.