Financial Aid Information for Medical Students

Advisement
OME provides general information regarding Financial Aid.
The Office of Financial Aid is part of UB's Student Response Center.
Students should contact the office of Financial Aid for individual advisement at 829-3914. The south campus office is located in Harriman Hall, Room 104. Evening advisement is available ( by appointment ) until 7 pm. Some nights and walk-in appointment are available weekdays from 11:30 am - 1: 30 pm.

Extended Financial Aid Hours The Office of Financial Aid, in conjunction with the OME, began a program in fall 1999 to provide extended financial aid hours in the evening for medical students. Extended hours are typically scheduled on selected Tuesdays from 5:30-7:30pm. Please check e-mail or call the OME for the monthly schedule. Students are encouraged to arrange an appointment in advance.

Step-by-Step Guide A step-by step guide to financial aid at UB, including how need is determined, can be found here. First-time borrowers receive entrance counseling information before loan funds are disbursed and exit loan counseling before graduation for all borrowers. On Match Day, students receive information about the time and location of the mandatory exit counseling session.
>> Go to Step-by-Step Guide

Cost of Attendance The Office of Financial Aid establishes a standard student budget as a basis for awarding financial aid funds. The medical student budget reflects typical "modest but adequate" expense patterns of UB medical students based on research conducted by the Office of Financial Aid in conjunction with the OME.
Since the third-year of study for medical students is longer, students can request an automatic increase in the budget by contacting a financial aid officer. Advisors are also available to discuss individual circumstances warranting a budget increase request for needs such as car repairs and uncovered medical/dental bills.
Information on cost of attendance, based on a 9.5 month academic year, can be found at >> http://studentresponse.buffalo.edu/financialaid/cost

The FAFSA In order to apply for financial aid at UB a student needs to complete a Free Application for Federal Student Aid (FAFSA). Students can mail in a completed FAFSA anytime after January 1 for the following academic year. The Office of Financial Aid's priority date for campus-based aid (work study, Perkins Loans, Economically Disadvantaged Tuition Waiver, etc.) is March 1 each year. Students who have completed FAFSA's on file with the processing center by March 1 will receive priority for campus-based funds.
If you've filed a FAFSA in the past, you can file on the web by selecting the renewal form. The web address is http://www.fafsa.ed.gov. You will need to have a PIN in order to file the renewal form. If you do not have a pin or have misplaced it, you can request a new one or a copy from the web site listed above. Otherwise, file by FAFSA on the Web or complete the paper application and mail it in.

Direct Deposit Students can elect to have financial aid refunds deposited directly into a designated checking or savings account. Students should complete the Direct Deposit Authorization Form and submit it to Student Accounts at least three weeks prior to disbursement of financial aid. Here are the advantages:

• There is no risk of the check being lost or stolen in the mail
• No need to go to the bank to cash or deposit it
• Funds are available within 48 hours of disbursement

Loan Deferments The OME can verify your enrollment for the time you are registered at as a medical student for loan deferments. Please refer to the Loan Deferments site for more information.

Emergency Loans Medical students in good standing* are eligible to apply for an medical school emergency loan should a personal financial crisis occur. Loans are distributed in the amount of $500 and the borrower has three months to pay off the loan without accruing any interest or fees; only one loan per student per semester. Please see Philippa in the OME to complete the appropriate application forms. * Second semester seniors are not eligible nor are students who have an outstanding balance with the Emergency Loan Program.

Monetary Decisions for Medical Doctors (MD²) MD² is an AAMC program with an electronic resource manual for financial planning throughout a medical student's career. The program provides tools and information to implement a financial plan and manage debt. Please visit the web site www.aamc.org/md2 to learn more.

Internet Resources Various financial planning and scholarship resources are available to students on the internet. Below you will find a listing of popular financial aid sites:

• UB Scholarship Directory
• FINAID < www.finaid.org >
• CASHE < www.wiredscholar.com >
• FRESCH < www.freschinfo.com >
• FASTWEB < www.fastweb.com >
• AAMC < www.aamc.org/stuapps/finaid/medloans/start.htm >
• Collegenet < www.collegenet.com >
• NASFAA < www.nasfaa.org >

UB's Ferderal School Code:
002837