What is included in my Cost of Attendance (or Budget)?
Please click here for a summary of estimated costs for your budget. Exact figures for tuition and fees are not available until July. This information will be updated when these figures are announced.
Can you reconsider my Cost of Attendance—based on my situation?
Your cost of attendance includes tuition, fees, books, and living expenses. Some students have individual circumstances that may allow us to make adjustments to your budget, such as day care expenses for a child or children or unreimbursed medical expenses. Our office will require a letter from the student explaining the additional expenses. In some cases, such as medical expenses, we will require copies of receipts showing that the bill has been paid. In other cases, we may request additional information (a letter from a daycare advising that the child is enrolled and the monthly cost). We encourage you to meet with a financial aid staff member or email our office so that you can be sure you know what is needed for your situation to be reviewed. Please keep in mind that some expenses may not be added to your cost of attendance (such as credit cards) because they are not educational expenses.
How can I be considered an in-state student?
The Office of Financial Aid is not able to make that determination. You can review the information posted on http://www.bc.pitt.edu/students/tuitionguide.php to find University of Pittsburgh Guidelines for Determining Eligibility for Reduced Tuition Rates. The Tuition eligibility office can be contacted at 412-624-7610 or PATuitionEligibility@bc.pitt.edu
When will I receive my financial aid award?
Students who apply for financial aid before the deadline of April 16th should anticipate receiving their financial aid notices as follows:
MS1s – Early May
MS2s – Early July
MS3s – Late June
MS4s – Mid June
When will I receive my refund?
MS3s and MS4s should anticipate receiving their refund in mid-to-late July. MS2s and MS1s should anticipate receiving their refunds in mid-to-late August.
Why do first and second year receive refunds in August and second and third years receive refunds in July?
After you begin your second year of medical school, you are basically continuously enrolled. However, the financial aid regulations limit the time of a “loan period” for one year. Therefore, the financial aid loan periods indicated below allows our office to provide funds to you for living expenses continuously. So, your exact schedule may be slightly different than your loan periods.
As an MS1, your budget is from August through May. Therefore, you receive your first refund in August.
As an MS2, your budget is from August through July. Therefore, you receive your first refund in August.
As an MS3, your budget is from July through July. Therefore, you receive your first refund in July.
As an MS4, your budget is from July through May. Therefore, you receive your first refund in July.
All student should anticipate their mid-year refund in January.
How can I ensure a timely arrival of my refund?
- Review the “Terms and Conditions” enclosed with your financial aid award letter.
- Making any changes to loan amounts on the award letter and then sign the award letter.
- Return the signed award letter to our office.
- Provide a thank you letter to our office if you receive need-based funds
- Sign up for direct deposit (see http://www.bc.pitt.edu/students/ for more information)
- Complete your Stafford Entrance Counseling if you are a first-time borrower
- Complete a Master Promissory Note for any loans you are borrowing
- Provide a copy of your Master Promissory Note to our office
- Special note for returning students: If your previous Federal Stafford lender is no longer participating in Federal Stafford loans, you will need to complete a new Master Promissory Note. If you need to complete a new Stafford Master Promissory Note, you will be notified via email from our office.
- The choice of a lender for any federal or private student loans is yours. The Office of Financial Aid at the University of Pittsburgh School of Medicine will process loans from any eligible lender you decide to use. Additional information on selecting a lender and completing a promissory note will be posted under “Announcements” soon. (Approximately June 30, 2008)
How is my award determined?
UPSOM awards need-based scholarships and loans according to a student's assessed financial need. That need is based on an analysis of the parents', the student's, and the student's spouse's (when applicable) financial disclosures subjected to the national needs analysis formula. We first calculate your budget (tuition, fees, living expenses) and calculate resources available. "Need" is calculated by subtracting the resource amount from the budget. We comprise a financial aid award letter indicating any need-based funds a student is eligible for and advise of the student’s loan eligibility. Applicants whose forms are submitted after our deadline are considered for funds after our office awards all students whose applications were received prior to the April 16th deadline.
How do I appeal the financial aid award decision?
If significant changes in the student's / family's financial circumstances occur during the academic year and the needs analysis document no longer accurately reflects the family's financial status, a written notification explaining the family's change in income should be provided to the Office of Financial Aid for review within 30 days.
A student may also appeal a decision made by the Office of Admissions and Financial Aid regarding an award amount, a calculation of need, satisfactory progress determination, an adjustment or a repayment request. The appeal must be in written form and contain documentation of any special circumstances which may directly affect the student's financial situation. All appeals should be addressed to the Executive Director of Admissions and Financial Aid.
Will I be able to borrow all the funds I need to pay for my education?
You can receive financial aid resources (any combination of scholarships, stipends, or loans) up to your cost of attendance—or budget). Therefore, you can borrow (through Federal Stafford loans, Graduate PLUS loans, and/or private/alternative loans) in any amount, up to your total cost of attendance minus any other financial aid (scholarships, stipends, etc). Keep in mind that Graduate PLUS and alternative/private loans require review of a student’s credit history. In some situations, students with poor credit may need to seek a credit-worthy cosigner.
How do I get payment on my undergraduate student loans deferred?
You must file a student loan deferment form with each "holder" of your student loans. A holder is the lender (e.g. your school or bank) or its designated servicer (e.g. SallieMae, ELSI, AFSA, etc.). You should obtain the form from the school, bank, or servicer. You must have your enrollment certified by the Office of Financial Aid at the University of Pittsburgh School of Medicine. Please be sure that the form contains a mailing address or fax number so that we can provide the form to the holder of your loan.
What happens if I am awarded an outside scholarship?
Students may receive scholarships specifically defined to cover their education costs, such as the MD/PhD program, an Armed Forces Scholarship, or the National Health Service Corps Scholarship. Scholarships increase the student's available resources, which in turn decreases the student's need. This means the total financial aid award may be decreased by the scholarship amount.
How can I ensure the timely arrival of the information required by the Office of Financial Aid?
All information is date-stamped, coded in the database management system, and placed in the student's file. However, some correspondence may be misplaced. The best way to avoid this problem is to take the following steps when submitting financial aid forms:
- Enter the student's name and PeopleSoft ID number at the top of every form. If your PeopleSoft number is unknown or unavailable, please provide the last four digits of your Social Security Number. Note: This is very important when parents provide information to our office, as parents’ names are often different than students.
- Be sure to use the correct financial aid office mailing address. Our mailing address is Office of Financial Aid, 518 Scaife Hall, 3550 Terrace Street, Pittsburgh, PA 15261. Fax: (412) 648-8768
- Be sure the correct educational institution has been entered when completing Need Access
- Be sure the correct FAFSA federal institution code number E00516
I have further questions that are not listed here, who should I contact?
Our office is here to provide assistance to students regarding financial aid. Please contact us! We encourage you to email us at financial_aid@medschool.pitt.edu or call us at 412-648-9891 to schedule an appointment.