The SIU School of Medicine (SIUMED) Financial Aid Office (FAO) assists medical students by awarding financial aid to help pay for their medical education. The FAO will assist students with developing their financial aid package and will work to provide students with the financial assistance they need to meet the difference between their educational expenses and their available resources. Because scholarship funds are limited, most financial need is met by combining various loan programs.
The FAO provides loan indebtedness counseling, assistance with securing outside loans and scholarships and short-term emergency loans. As you read through our pages, we hope you will find the information useful. We wish you success in your medical academic career and hope to see you on our campus.
Eligibility: A Free Application for Federal Student Aid (FAFSA), which uses a standard need analysis formula to calculate financial aid eligibility, must be completed each year. An expected family contribution (EFC) is calculated for each students based on their income, net worth, resources, family size, the number of family members attending post-secondary education and other factors. A student's financial need is determined by the student's educational expenses minus the EFC. Financial aid is "packaged" as a combination of loans and, if applicable, scholarships to meet the financial need.
Application Procedures : To apply for financial aid at SIUMED, a FAFSA must be completed each year. The FAFSA should be completed as soon as possible beginning January 2, using our Federal School Code 001758. Students who are applying for financial aid for the first time at SIUMED are also required to complete our financial aid institutional application. Students who have applied for aid during the previous year should complete a Renewal FAFSA. You will need an ED PIN to complete your FAFSA. If you do not have an ED PIN, one will be assigned to you after you complete your FAFSA. The ED PIN serves as an electronic signature. A federal customer service telephone help line is available at 800/433-3243 or 319/337-5665.
Application Results and Changes : A Student Aid Report (SAR) is provided to the student when the FAFSA is processed. The SAR should be reviewed for accuracy and completeness. If the SAR has errors, or you did not list SIUMED as a school choice, electronic corrections are made at the FAFSA web site by using the PIN and the Make Corrections link. When a corrected SAR is received, the student should retain it for his/her records, and forward a copy to the financial aid office at SIUMED.
Verification: Some students may be selected to verify information provided on the FAFSA. If selected for verification, a Verification Worksheet must be completed and returned to our office, along with non returnable, signed copies of the applicable federal tax returns and W-2 forms for the student and, if appropriate, his/her spouse. Other documentation may also be required. Some students may be required to provide proof of Social Security number, citizenship or immigration status, Selective Service registration, veteran status, satisfactory repayment status for student loans or other information. Students selected for verification must provide all requested documentation to be eligible to receive and maintain financial aid awards and payments.
Award Notification : Students are informed of financial aid awards via an electronic award letter. Our office begins preparing financial aid award notices in early Spring, after the FAFSA is filed and all required information is submitted. You will receive a e-mail when your award is ready to be viewed on SalukiNet.
Award Revision Request : To request a revision to your electronic award letter, you need to complete an Award Letter Revision Request Form for the appropriate semester and submit it to our office.
Billing and Financial Aid Disbursement : When a student is enrolled, an account is created in the University Billing/Receivable system. A monthly Statement of Account is issued to the student listing University charges, credits and balance due. Charges may include tuition, fees, and other charges. Credits to the account consist of financial aid proceeds as well as cash payments. If a credit balance occurs on a student's account, a check for the amount of the credit balance is mailed by the Accounts Payable Office to the student's local address beginning no earlier than ten days before the first day of classes for the semester or, if applicable, directly deposited to the student's bank account if the student has signed up for direct deposit.
Students should come to school with sufficient funds to buy books, supplies and any other items necessary to begin the semester, even if the student is expecting financial aid. Checks for credit balances on your University account are not always available as soon as you arrive on campus.
Refunds and Return of Funds: Students who do not attend classes are not entitled to any loans or refunds. Students who cease attendance during the semester are only entitled to financial aid applicable until the documented last date of attendance.
Electronic Connection: Additional financial aid information is available from our web site. The student can obtain specific information about his/her own financial aid on SalukiNet. If you have questions and want to discuss your financial aid further, our office can be contacted via e-mail or by calling 217-545-2223 .