Award Payment

MD Financial Aid

Award Payments

All students who apply for financial aid will receive notification of the awards for which they have qualified. The student will need to accept or decline the financial aid offered. Federal regulations require that federal loans be disbursed in a minimum of two disbursements. The first disbursement will occur at the beginning of the academic year or loan period. The second disbursement will be scheduled for the middle of that same academic year or loan period.

Federal Direct (Unsubsidized), Federal Graduate/Professional PLUS, and Private loan funds are disbursed by direct deposit or paper refund check. Every attempt is made to notify students that their funds will and have been disbursed, but it is ultimately the student's responsibility to know when they should be receiving checks and to verify this with the Morsani College of Medicine Financial Aid Office. Because the funds are disbursed directly to the student, it is the student's responsibility for payment of his/her own bills (tuition, books, etc.). The student must make payments for charges incurred. The charges will not be automatically paid or deducted when financial ai disburses. See the Registrar's page for all charges and payment information.

Institutional loan and scholarship awards are disbursed in September and January and will be applied to the student's account and any fees owed to the University (i.e. library fee, health services, etc.) will be deducted. The balance, known as a refund check, will be either mailed directly to the student or directly deposited (e-deposit) into the student's personal bank account. The Financial Aid Office encourages students to use the e-deposit process. Please follow this link for more information and sign up instructions for e-deposit.

Review of Students Awards

Federal and institutional policies prohibit students from receiving aid in excess of their cost of attendance. You are required to report any additional resources as soon as you have knowledge of the award. If you move, get married, get divorced, receive a scholarship, a grant, or experience anything that affects you and/or your family's financial situation, you are obligated to write, call or come in to see a Financial Aid Advisor at the Morsani College of Medicine. Failure to do so may jeopardize continuation of assistance or necessitate repayment of all or part of your award. If you do receive additional assistance, your award from the Financial Aid Office will be revised if your total financial resources exceed total financial need for your cost of attendance.

Over Awards

In the event a student receives scholarships or low interest loans, subsequent to receiving his/her financial aid package for the year, resulting in an over award, they will be required to repay (or cancel disbursements not yet received) financial aid in the following order of funds:

  • ALP
  • USFL/Grad PLUS
  • Institutional Loans
  • Institutional Scholarships
  • Outside agency Loans
  • Outside agency Scholarships

Loan Period & Disbursment Date

Grade Level Loan Period 1st Disb 2nd Disb 3rd Disb
1st Year (MD 2019 - Core) 07/31/15 - 05/13/16 07/31/15 12/04/15 n/a
1st Year (MD 2019 - SELECT) 07/27/15 - 05/13/16 07/27/16 12/04/15 n/a
1st Year (MD 2019 - SELECT w/summer) 07/27/15 - TBD 07/27/16 12/04/15 TBD
2nd Year (MD 2018 - Core) 07/15/15 - 04/08/16 07/06/15 11/13/15 n/a
2nd Year (MD 2018 - SELECT) 07/15/15 - 04/08/16 07/06/15 11/13/15 n/a
3rd Year (MD 2016 - Core) 05/04/15 - 04/29/16 04/24/15 10/16/15 n/a
3rd Year (MD 2016 - SELECT) 05/04/15 - 04/29/16 04/24/15 10/16/15 n/a
4th Year (MD 2015 - Core) 05/11/15 - 04/01/16 05/01/15 10/02/15 n/a
4th Year (MD 2015 - SELECT) 05/11/15 - 04/01/16 05/01/15 10/02/15 n/a