Steps to Apply for Financial Aid

The Carver College of Medicine's philosophy is that no student should be denied a medical education due to a lack of funds. Therefore, we actively seek financial aid sources to enable every student interested in a medical education to finance that education. Despite this, the Carver College of Medicine and most medical schools also believe that the primary responsibility for meeting educational expenses rests with the student and his/her family. When a student and his/her family are unable to provide sufficient funds to meet the costs, there are sources of financial aid available to supplement their own resources. In order to be considered for sources of assistance available through the Office of Student Financial Aid and the Carver College of Medicine, a student is required to undergo a need analysis by submitting an application for financial aid (FAFSA) as described below. In keeping with this philosophy, it is mandatory that parental income and assets information be submitted for consideration for many sources of aid, including all grants and the primary care loan.

PDF iconSteps to Apply for Financial Aid.pdf

There are two offices on campus that can help you with financial aid information and services throughout your enrollment in medical school: the Office of Student Financial Aid (OSFA), 208 Calvin Hall, 335-1450; and the Medical Student Affairs Office, 1216 MERF, 335-8059. The OSFA will review your financial aid application information (FAFSA), will verify that information as required by federal regulations, will determine your eligibility for federal and campus programs administered by their office, and will process your loan applications and/or corresponding promissory notes. Mr. Robert Upmeyer is the OSFA staff liaison officer for medical students. In addition, Linda Birkhofer, Chris Roling, and Linda Bissell are available in the Medical Student Affairs Office to offer general financial services counseling as well as to answer questions you may have about applying for financial aid. We can help you formulate an individualized money management plan for your medical school years that includes choosing from the forms of aid available to you so you can derive the most benefit financially. The director of the Carver College of Medicine Financial Services Office considers each financial aid applicant’s eligibility for awards from Carver College of Medicine financial aid sources, and also makes awards for the Federal Primary Care Loan. Students do not need to make separate applications for collegiate grants, scholarships or loans; submitting a complete U Iowa financial aid application as detailed below is all that is required.

No student is awarded financial aid until his or her application file is complete. Although applications are accepted throughout the academic year, aid is awarded in the order that a complete file is received. University and Carver College of Medicine awards are based on available funding, which is limited. To ensure that all aid souces are available when aid is awarded, students are urged to apply early.

Requirements Before Your Aid Disburses

  • Enrolled at least half-time in a program leading to a degree at University of Iowa.  
  • No outstanding charges from a previous term.
  • Complete, signed, and returned loan promissory note(s).
  • Completion of Entrance Loan Counseling, if you have been awarded the William D. Ford Federal Direct Loan(s) and you are a first-time borrower.
  • Not in default of any educational loan, including short term emergency loans from ECSI ECSI loans are billed separately (sent to your home address that is on file; NOT your U-Bill).

If all the above requirements are met, your aid package will typically disburse the first day of class (each semester). Below is the disbursements by class:

M1-M2's have fall/spring disbursements with tuition taken out each semester.

M3-M4's have summer/fall/spring disbursements with tuition only taken out from FALL/SPRING semesters. Summer aid disbursement will have a student health fee and a recreation fee of taken out.  The combined amount of those fees will be $128.50

If you do not know if all forms are received, you can go to ISIS, Student Records, Financial Aid, Award Summary to view forms needed, if applicable.