Financial Aid Application Process

When the FAFSA is released in December, complete the FAFSA using actual tax information in order to be awarded financial aid for the upcoming academic year.

The Carver College of Medicine requires parental tax information to be considered for College of Medicine grants or need-based scholarships. You must provide  parental income/asset information in order to be considered for need-based aid eligibility.  This application will be sent out to all admitted students in the spring semester.   

If your parents do not file U.S. federal taxes or file in another country, contact the Carver College of Medicine Financial Services, 319-335-8059.

Students who receive loans as part of the their financial aid, are required to participate in entrance counseling, provided by the Office of Student Financial Aid.

Steps to Apply for Financial Aid

Step 1

File Free Application for Federal Student Aid (FAFSA) as soon as possible in December (priority deadline is February 1). Title IV code is: 001892.  If you want to be considered for need-based aid, fill out the supplemtntal form with parental financial information.

Step 2

Receive Student Aid Report (SAR) from federal processor.

Step 3

Receive Award Notification by email in the spring. Your award will only include loans until parent tax information is received. 

Step 4

Check the status of your award on MyUI. Loans must be accepted on MyUI to be processed.

Step 5

Complete and submit promissory notes and entrance loan counseling, if applicable—only first-time borrowers. First-time borrowers must complete Master Promissory Notes (MPNs). Separate MPN for Staffords and Grad PLUS. If your award includes Carver College of Medicine loans, promissory notes will be included in your award letter email.

Step 6

Receive financial aid funds on the first day of classes. We encourage you to carefully review your expenses and resources and to borrow only what you will need.

The cost of attendance includes housing and personal and transportation expenses. Actual expenses may be lower than the estimated amounts; therefore, you may not need to borrow the full amount awarded.

If you wish to decline or reduce your loans, please contact the CCOM Financial Services team, 319-335-8059, to discuss your wants/needs.