Financial Aid Offices
There are two financial aid offices on the Indiana University Purdue University at Indianapolis (IUPUI) campus. The office for medical students is the IU School of Medicine’s Office of Admissions and Financial Aid Student Financial Services (SFS).
The SFS is housed in the Fesler Hall on the Indianapolis medical school campus.
Prospective medical students as well as current medical students are encouraged to contact SFS for questions specific to medical school financial aid.
The IUPUI Office of Student Aid Financial Services (IUPUI-OSFAS) is located on the IUPUI campus.
Medical student eligibility for medical school financial assistance is determined by evaluating both the student’s (and spouse’s) ability to contribute; although, federal loans are determined using the cost of attendance. When appropriate, the parental information or ability to contribute is also used for specific programs like the Federal Scholarships to Disadvantaged Students (SDS) as well as the Loans to Disadvantaged Students (LDS), Federal Primary Care Loan (PCL) and the need-based IUSM Scholarships and Fellowships. We encourage medical students to submit the parental information on the FAFSA for consideration regardless of the student’s independent status or age. The parental information on the FAFSA is used to calculate a parental contribution (PC). The PC along with the student’s ability to contribute is taken into consideration when awarding institutional funds that includes any IUSM scholarships and fellowships based fully or in part on financial need.
Recipients of the Armed Forces Health Professions Scholarship Program (AFHPSP) or the National Health Service Corps Scholarship (NHSC) are not eligible to receive certain types of federal financial aid (LDS, SDS, and PCL) except eligibility for Direct Loans Federal Stafford (unsubsidised) Loans is allowed. Recipients of the NHSC and AFHPSP are also excluded from IUSM scholarships and fellowships (some exception may apply).
How Student Eligibility for Financial Aid is Determined
|Cost of Education||Student Resources||Financial Need|
Tuition and fees
Room and board
Books and supplies
Personal and miscellaneous expenses
Parent contribution (for institutional aid only as described above)
Student’s contribution from assets and available earnings as calculated through the FAFSA
Other resources such as outside scholarships/awards
|Financial assistance based on financial need which includes all need-based IUSM scholarships and any institutional funds based on parents ability to contribute and where financial need is a factor.|
Submit an Application for Financial Aid
Students should complete the following steps by the appropriate priority dates. Priority dates are target dates to assure timely notification of financial aid eligibility and should not be mistaken as deadlines.
- IU School of Medicine Application for Financial Assistance
For priority consideration, submit the above form to MSE-SFS by May 31. This application is used exclusively for determining IUSM Scholarship and Fellowship eligibility. This is determined at the annual IUSM Scholarship Committee meeting in late-June. Not having this application on file is automatic exclusion from being considered.
Note: Applications received after May 31 may not be considered, but may be used later in the event additional IUSM Scholarship and Fellowship funds are made available later in the academic year. The IUSM Scholarship Committee meets at the end of June and scholarship letters go out in July.
Entering first year recruitment/merit scholarships are generally offered beginning in December through April using academic data from the IUSM Office of Admissions. Recipients are notified by letter and e-mail during this period. Academic Achievement scholarships for medical students after the first year are decided at the June IUSM Scholarship Committee meeting using academic performance information made available by the Office of Medical Student Affairs-Student Records Office. Approximately the top 10% of medical students in each of the 2nd, 3rd and 4th year class will receive academic scholarship consideration ranging from $1,000 – $5,000. This is an annual consideration.
- The Free Application for Federal Student Aid (FAFSA)
Must be submitted to the Federal Processor online in order to be considered for any federal and institutional financial aid programs. The priority date is May 1. This is not a deadline, but instead a target date to get the FAFSA in so that a timely response can be expected. All accepted students are encouraged to submit the FAFSA application as soon as possible after January 1 to begin the financial aid process.
Students who filed the FAFSA electronically previously should use their PIN in completing the new FAFSA. If you are a first time FAFSA applicant, please go to http://www.pin.ed.gov to apply for a PIN. The PIN is important because it serves as your electronic signature streamlining the FAFSA submission process. Continuing medical students should have already secured a PIN when they first applied for financial aid.
All students who wish to be considered for IUSM scholarships and fellowships (based partly or solely on financial need), Loans and Scholarships to Disadvantaged Students (LDS and SDS) and the Federal PCL (preference given to third and fourth year medical students), must complete the parental sections on the FAFSA. No exceptions will be granted by the MSE-SFS. If both parents are deceased, copies of the death certificates must be submitted to the school in order to waive the parental information requirement.
- Students must wait until after January 1, to submit the FAFSA for the subsequent academic year.
- The Title IV Code for IUPUI is 001813 (this includes the medical school) and must be listed on the FAFSA for the medical school to receive the FAFSA data.
- Direct Loan (DL) Federal Stafford Loans (Subsidized and Unsubsidized) and DL Master Promissory Note (MPN)
For returning students: The assumption will be made that all students will want to be considered for the full Federal Unsubsidized Stafford Loan eligibility; therefore, these loans will be ACCEPTED for the students. The Grad PLUS Loan requires a credit check and as a result, the Grad PLUS Loan requires the student to ACCEPT the loan to initiate the credit check. There is no additional application process (other then filing the FAFSA) as we will notify continuing medical students of their loan eligibility via an e-mail notification to check ONESTART (student’s portal to their record at IUPUI). Students will have the opportunity to modify loans once notified. The FAFSA has to be in place before any loan funds can be packaged or processed. If you have never borrowed through the Direct Loans (DL) Federal Stafford Loans before, you will need to complete a DL Master Promissory Note (MPN). You will be notified when the MPN is ready for completion online. The MPN is only completed once in the four years of medical school. Generally, this is done when the student borrows for the very first time.
For new students: Beginning in mid-April, entering students will be notified of your loan eligibility through the DL Federal Stafford and/or DL Graduate PLUS Loan. Once notified, students will be able to either Accept, Reduce or Decline the loan amounts in ONE IU (www.one.iu.edu). To ensure your student loans are processed in a timely manner and that funds will be available to you by the beginning of the Fall semester, please Accept, Reduce or Decline your loan amounts no later than August 1.
Beginning in July, you will receive an email notification to electronically sign your DL Master Promissory Note (MPN). Please note, in order to receive this email notification you must have submitted your FAFSA. If you have accepted your awards and completed your DL MPN by July 31, your loan funds should be released to IUPUI from the U.S. Department of Education by the appropriate timeframe, which is 10 days prior to the beginning of the semester. Funds will be applied to the student’s IUPUI Office of the Bursar account where tuition and other costs will be paid and then a refund issued for any excess funding. Please note that you will be registered by the school at some point in the middle- to late-July. Registration must be in place to allow funds to be released to IUPUI.
Responsibilities of Students Receiving Aid
Students who receive financial assistance from programs administered by the IUPUI-OSFAS or the MSE-SFS have special responsibilities that include:
- providing accurate and complete financial information on the FAFSA, as well as completing the FAFSA in a timely manner,
- reporting annually to MSE-SFS all outside aid including that received through the Armed Forces Health Professions Scholarships, National Health Service Corps Scholarships, outside scholarships or local awards,
- maintaining good academic standing (for scholarship consideration) as described in the IUSM Student Manual,
- providing documentation, corrections, and/or additional information requested by either IUPUI-OSFAS or MSE-SFS,
- attending an exit interview prior to graduating for all federal and institutional loans received while attending the IUSM,
- reading, understanding, and keeping copies of all disclosures and signed forms,
- notifying the MSE of a change in name and/or address, and
- maintaining appropriate behavior at all times in dealing with the IUPUI Office of the Bursar, the IUPUI-OSFAS, and the MSE-SFS.
Students who fail to honor these special responsibilities may compromise their financial aid eligibility from both the IUPUI-OSFAS and/or the MSE-SFS.