Eligibility: To be eligible for financial aid, students must first be accepted into the Acupuncture or Oriental Medicine program. All enrolled students are eligible to apply for Stafford Direct Loans except under the following conditions: a student has reached the maximum loan limit for an academic level; maximized the aggregate loan limit; or student loans previously borrowed are in ‘default’.
Grant Eligibility & EFC: Both Subsidized and Unsubsidized Stafford Direct Loans are subject to annual limits and may be used to pay for costs of education in excess of “expected family contribution” or EFC. Only Acupuncture students who have not received a four year post-secondary degree may be eligible for a Federal Pell Grant. This amount is determined by the U.S. Department of Education and your EFC.
Application Process: To apply for any Federal Student Aid Program, visit the link www.fafsa.ed.gov . At this site, students must file the Free Application for Federal Student Aid (FAFSA) each year they attend Midwest College of Oriental Medicine. Borrowers must also complete the Entrance Counseling and sign their Master Promissory Note (MPN) by visiting the link: www.studentloans.gov.
Approval/Receipt of Aid/Graduate: Students waiting for financial aid approval must follow the tuition schedule policy (see Tuition/Refund). Students that are not registered at least half-time, withdraw/drop, will not be able to receive financial aid. Additionally students who withdraw or graduate must complete an Exit Interview by visiting the link: http://www.nslds.ed.gov/nslds_SA/
Excess Money: If the financial aid received exceeds the amount due to the school after tuition and fees are paid, the student may either choose one of two options:
- The credit balance can be issued to the borrower within 14 calendar days after the date loans and grants are received.
- The credit balance can be returned to the lender, reducing the amount borrowed, and interest paid.
If you have questions or concerns about financial aid you can contact the Financial Aid Director, Liz Hojan by email: firstname.lastname@example.org or call: 1-800-593-2320