Financial Aid Updates & Reminders University of Illinois at Chicago College of Medicine Office of Student Financial Aid

Updates

Tuition Updates  Tuition increase is ~ 1.7%  Dollar amount increase per term $289 for both Residents & Non-Residents  Summer 2013 tuition will not see an increase this year.  Note: You must be enrolled in at least 6 hours in the summer in order to be eligible for aid

Scholarship for Disadvantaged Students (SDS) Update  Suggested Changes for  Moving application deadline up to August 1 st.  Application will be available April 1 st.  Pros: Applicants can apply & will be notified of awards sooner.  Cons: OSFA May not have update on available funding until after Aug 1 st.

Financial Aid Reminders

Primary Care Loan (PCL)  Loan for M4s who enter and complete a primary care residency no more than 4 years after graduating from medical school.  Must practice in primary care for 10 years or until loan is repaid in full, whichever comes first.  Cannot enter any subspecialty training from the time of graduation until the loan is repaid in full.  Must demonstrate need (student & parent income considered).  Be full-time both fall & spring (12+ hours). -5% interest rate, subsidized and payment deferred while in school & while completing a 3-year residency. Note: if you fail to meet the service requirements the interest rate will increase to 7%. ~ Deadline March 29 th, 2013 ~

FAFSA Now Available  File FAFSA as early as Jan. 1 st of each year at  Submit any required documentation to COM OSFA.  Electronic award letter  1. Log into the portal at  2. Click on the "Finances" Tab  3. Click on "Award Letter“  4. Select the appropriate Academic Year to view your Financial Aid Award Letter.

Always Report Part-Time Enrollment  All COM students are initially packaged as full time.  If you will be less than full-time, be sure to report your expected enrollment on your Electronic Award Letter.  Reporting your part-time enrollment prior to disbursement will ensure the proper aid amount pays and avoids loan reductions after the fact.

Part-Time Enrollment (cont.)  The OSFA will verify enrollment each semester and make any necessary adjustments to your awards.  Those affected will receive an notification upon revision.  You are responsible for paying any charges incurred on your account as a result of these adjustments.

OSFA Contact Information Website: Phone: (312) 413 – 0127 Michelle Ortiz Wortel – Director Theresa Ibarra – Associate Director Tara Haddadin – Assistant Director