All incoming and returning students who wish to apply for institutional aid must complete both the Free Application for Federal Student Aid (FAFSA) and the School of Medicine financial aid application each academic year. Please read the instructions that are included with the financial aid application carefully, and note all filing deadlines, to ensure all required information is provided to our office.
1. Complete the Free Application for Federal Student Aid (FAFSA). Georgetown University School of Medicine's FAFSA Code is E00518.
All unmarried students, and married students whose spouse is not currently employed, applying for institutional financial aid must provide parental information on the FAFSA. The IRS data retrieval tool must be used when submitting either parental or spousal income and asset information.
We recommend that students file the FAFSA by January 1, 2017 to ensure our office receives the information by the financial aid application deadline of February 1, 2017.
2. Complete the School of Medicine Application for Financial Aid using the attached instructions and submit to the Office of Medical Student Financial Services, along with all required supporting documents, by February 1, 2017.
NOTE: Students applying for only federal student loans to meet their education expenses are not required to complete the School of Medicine Financial Aid application, however they must complete the Federal Authorization Form and submit to our office by May 1, 2017.
The Financial Aid Process
Application and Review
- Upon receipt of the FAFSA data, the completed GUSOM Application for Financial Aid and all required supporting documents (please refer to the instructions attached to the Application for Financial Aid), the Office of Medical Student Financial Services (MSFS) will review your information and determine your eligibility for financial aid;
- Students who apply for institutional aid are reviewed for these funds before our office awards other types of financial aid;
- In an effort to minimize the amount of unsubsidized loans a student may need to borrow, our office will award institutional aid and subsidized federal student loans before making any unsubsidized federal student loan award (based upon financial need);
Award Notification and Acceptance
- Financial assistance awards are posted to the university’s MyAccess system;
- Students must log-in to MyAccess using their university NetID and Password to view their financial aid eligibility;
- Incoming students receive their university Net ID from the Office of Admissions and will be notified by e-mail when their financial aid award is available for review;
- Returning students will also receive e-mail notification when their financial aid award has been posted to MyAccess;
- Any required financial aid documents that have not been submitted to MSFS can also be viewed on MyAccess;
- Students may accept, reduce or reject all or a portion of their financial aid eligibility for the academic year (i.e. a student can accept all of their subsidized federal student loans and reduce or reject their unsubsidized federal student loans);
- A student who accepts federal student loans as part of their financial aid must then complete the required applications, promissory notes and entrance counseling before our office can disburse those funds.
Student Loan Applications, Promissory Notes and Entrance Counseling
FEDERAL DIRECT STAFFORD LOAN
- All first-time Federal Direct Stafford Loan borrowers at Georgetown must complete the Stafford Loan master promissory note (MPN) and entrance counseling;
- The MPN is completed on the Federal Direct Student Loans site – students need their FSA ID in order to log-in;
- Once logged-in to the Direct Loan site, choose “Complete MPN” on the left side of the page;
- Choose “Subsidized/Unsubsidized” and follow the prompts from there
- The Stafford MPN will pre-populate with information from your FAFSA, please review this information and make any necessary corrections;
- “Georgetown University” will be the only available option when you are asked to choose your school (all GU campuses use the same federal code for Direct Loans);
- Returning students who have borrowed the Federal Stafford Loan at GUSOM do not have to complete a new Stafford MPN each year;
- The US Department of Education is the lender for the Direct Stafford Loan Program.
FEDERAL DIRECT GRADUATE PLUS LOAN
The Grad PLUS Loan application process has two (2) steps - a Request (credit-check) and the Master Promissory Note (MPN) - both are completed on the Federal Direct Student Loans site.
Grad PLUS Request
- All Grad PLUS Loan borrowers (both incoming and returning students) must complete a request for the Federal Grad PLUS Loan each year they wish to borrow these loan funds;
- Once logged-in to the Direct Loan site, choose “Request PLUS Loan” on the left side of the page;
- Choose “Graduate PLUS” and provide all requested information.
Grad PLUS MPN
- All first-time Grad PLUS Loan borrowers at Georgetown must complete the Grad PLUS MPN and entrance counseling;
- From the main page of the Direct Student Loans site choose “Complete MPN” on the left side of the page;
- Choose “Graduate PLUS” and follow the prompts from there;
- Like the Stafford MPN, the Grad PLUS MPN will pre-populate with information from your FAFSA that you should review carefully;
- Returning students who have borrowed the Grad PLUS Loan at GUSOM do not have to complete a new Grad PLUS MPN each year unless they chose the annual MPN option in the previous year;
- The US Department of Education is the lender for the Direct Grad PLUS Loan Program.
FEDERAL PERKINS LOAN
- All first-time Federal Perkins Loan borrowers at Georgetown must complete the Federal Perkins Loan MPN and entrance counseling;
- Students who have been awarded a Federal Perkins Loan will receive e-mail notification from the University Student Loan Services Office confirming the loan award and providing instructions on completing both the MPN and entrance counseling;
- The Perkins Loan Program is funded with federal dollars, however, Georgetown University is the lender.
- Federal regulations require all first-time borrowers of Federal Direct Stafford and Federal Direct Grad PLUS Loans to complete entrance counseling in the first year they borrow these loan funds;
- Stafford and Grad PLUS Entrance Counseling is completed on the Direct Student Loans site – we recommend that students complete entrance counseling at the time they complete the Stafford and/or Grad PLUS MPN;
- Federal regulations require ALL Federal Perkins Loan borrowers to complete entrance counseling EACH YEAR they are awarded these loan funds.
Financial Aid Disbursement and Refunds
- Once a student has accepted their financial aid award on MyAccess, and completed all required loan documents and entrance counseling, the funds are scheduled for disbursement;
- Students receive financial aid in two (2) equal disbursements;
- Aid disbursements occur three (3) days before the start of the fall and spring semesters;
- All financial aid is disbursed electronically;
- Financial aid funds are applied directly to the student’s tuition account;
- Students who receive financial aid funds in excess of tuition and fees may request a refund of the overpayment;
- Refunds can be used to cover living expenses, purchase text books and equipment, or pay other education-related costs;
- Refunds are processed by the Office of Student Accounts (located on the main campus in the White-Gravenor Building);
- Refunds are requested through MyAccess and students can choose to receive their refund by either direct-deposit or a check mailed to the student’s local address.