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Financial Aid

Policies

Divorced Parents

In order to fully evaluate the applicant’s total financial situation, in cases of divorced, separated, or unmarried parents, the School of Medicine requires information and tax returns for both custodial and biological parents. 

Withdraw

A student who withdraws from the University during either term of the academic year will be eligible for a reduction in tuition and fees. The effective date of separation from the University is the date on which the student files a written request for withdrawal. The refund is as follows:

First two weeks of classes

75%

3rd and 4th weeks of classes

50%

Thereafter

0%

In the event of a student's withdraw, the School of Medicine will be required to comply with federal and school regulations in regard to the return of such funds.

Change in Family Status

Financial aid recipients are responsible for keeping the Office of Admissions and Financial Aid informed of all financial assistance received or any other changes in their financial status during the year.

Outside Scholarships

It is the School of Medicine's policy to replace the highest cost loan in your financial aid package with the outside scholarship. In the event that the loan component in the package has been replaced, the school scholarship would then be reduced or replaced as necessary.

Satisfactory Academic Progress

In order to receive federal and/or school funds annually, a student must have academic satisfactory progress and must advance to the next academic level. If a student needs to repeat a part of the curriculum, the student may not be eligible to receive federal and/or school funds during this period.

Budget Adjustment Policy

If a student has educational expenses beyond the student budget which can be documented, the School will review the student's request for additional funds and contact the student regarding the School's decision.

Time Out Study

The medical school curriculum provides students with the ability to extend their education in order to pursue other academic opportunities. These activities include, but are not limited to, research, study abroad, and scholarly pursuits. To be eligible, students are responsible for completing and submitting all necessary documents to the Registrar's Office.

Tuition is not charged during the time out period. Individuals are charged general, tech, and disability fees which permit them to maintain their full time student status, defer student loans, and continue their use of the University's facilities and Student Health Services. Students must maintain health insurance either through Penn or provide evidence of another plan approved by Student Health.

Because tuition is not charged during the time out, the student budget will be reduced accordingly. Time out students are not eligible for School of Medicine funds (school scholarships/school loans). Depending on the amount of aid, such as grants, students may be eligible for loans to cover living expenses, fees, and insurance. The amount of loan eligibility will be reduced by the amount of other aid the student receives.

Page Updated: 08-Nov-2012