Applying for financial aid is a relatively simple process. The key is to start early and to be complete and accurate in answers to required application questions and in submission of required documents. New and returning students must provide the following items before their aid application is considered complete and ready for processing:
1) A F ree A pplication for F ederal S tudent A id (a/k/a FAFSA ) for the current academic year, designating Tulane as the recipient of the FAFSA data. NOTE: You may elect to complete the FAFSA via the Internet by using "FAFSA on the Web" at: www.fafsa.ed.gov . If you completed a FAFSA last year, then you may be eligible to complete a "Renewal FAFSA on the Web". Check out www.fafsa.ed.gov for more details.
2) Other documentation as requested. The U.S. Department of Education may require verification of the financial information provided on the FAFSA. If selected, the TUHSC Office of Financial Aid will need to receive copies of federal income tax returns and a completed verification worksheet.
That is basically all there is to the initial application process.
FEDERAL STAFFORD LOANS
The Federal Stafford Loan program is typically a major source of financing for Tulane medical students. If eligible,
students may borrow up to $8,500 per year of "subsidized" Stafford funds. "Subsidized" means that the loan's interest is paid by the federal government while the student is enrolled at least half-time. Additionally, eligible students may borrow up to $22,500 per year of "unsubsidized" Stafford loan funds. "Unsubsidized" means that the student pays the interest on the loan while in school (or agrees to capitalize the interest and add it to the principal upon repayment).
FEDERAL PERKINS LOANS
Federal Perkins Loans are granted on a need basis by Tulane.
A FEW PRACTICAL TIPS TO FACILITATE FINANCIAL AID MATTERS
Do not assume anything! Ask, re-ask, and re-check!!!
Always ask if any additional forms are needed in order to process loans. An appropriate time to do this would be upon receiving your award notification letter. Federal and private loan applications and promissory notes are available from the TUHSC Office of Financial Aid.
Loan applications can only be processed after financial need has been determined. Completed loan applications must be returned to the TUHSC Office of Financial Aid. DO NOT SEND YOUR LOAN APPLICATION DIRECTLY TO THE LENDER. This will only delay the process.
You should establish a realistic budget for your living expenses. Determine what amount of your financial aid will be needed to help you meet your living expenses. W E RECOMMEND THAT YOU ARRIVE AT SCHOOL WITH ADEQUATE FUNDING TO FINANCE YOUR LIVING EXPENSES FOR THE FIRST TWO MONTHS .
NOTE TO FIRST TIME BORROWERS AT TULANE: Before Tulane can release any of your loan disbursements,
you must complete a "Loan Entrance Interview." Tulane offers this federally mandated requirement at the start of each academic year. Stop by or call the Office of Financial Aid for more information.
If you need additional information, or have any questions, please feel free to contact the TUHSC Office of Financial Aid at (504) 988-6135
