Federal Loan Application Process

Deadline: April 15 for students enrolling in the Biomedical Sciences Master's program as a Premedical Postbaccauleurate student (BMSC-MS-PB).
                 May 15

Step 1: Free Application for Federal Student Aid (FAFSA)

Wake Forest School of Medicine School Code:  E00524

To qualify for federal student loans for the 2016-2017 academic year, complete the 2016-2017 FAFSA online at www.fafsa.ed.gov after January 1.  Completing the online form is faster and prevents many of the common errors associated with the traditional paper form.

After your FAFSA is processed, you will receive a summary of your information in your Student Aid Report (SAR).  If you provide an email address, your SAR will be sent via email within 3-5 days. If you do not supply an email address, your SAR (Student Aid Report) will be mailed to you about 4 weeks after you submit the FAFSA.

The SAR indicates your expected family contribution, which is used to determine your eligibility for federal student loans. The SAR also lists the information you reported on the FAFSA, so that you can check your information for accuracy.

If no corrections are needed, keep the SAR for your records. If you listed the WFSM school code in the college release section of your SAR, we will receive your information electronically.

Step 2:  What to Expect after Applying

It is your responsibility to ensure all information is received and on time. Please feel free to contact us at any time to check on the status of your file. You may email us at FinAid@wakehealth.edu

Award notifications will be emailed in mid-June notifying you of your awards for both incoming and returning students.  Be sure to add our FinAid email to your contacts to avoid your award letter going to your junk email box.  Premedical Postbaccauleureate Master's students will receive award notification by April 25.

Once you receive your award letter, you will have the opportunity to accept, change or reject the awards offered.  Submit your awards online within 14 days of receipt. The Office of Financial Aid will certify your eligibility for the loans you have accepted and send the certification to the Department of Education.  

For federal loans, you will need to read, complete and electronically sign your Master Promissory Notes (MPNs). AN MPN must be completed for the unsubsidized Stafford loan.  If you also accepted the Graduate PLUS loan, you must complete a separate MPN. The MPN link is provided once you submit your financial aid.  If you did not complete the MPN when you clicked submit during the accept award process, you will need to go to www.studentloans.gov to complete the MPN process.

Another federal requirement is online entrance counseling located at the same site www.studentloans.gov.  Federal loans cannot be disbursed prior to both MPN and entrance counseling completion. 

Awards are first applied towards tuition.  If there is a remaining balance, a student should expect to receive a "refund" the first week of each term.  Students are encouraged to sign up for direct deposit to ensure timely receipt of funds.  (A refund issued in the form of a paper check can take up to 14 days for processing.)  If current students are not enrolled in direct deposit or need to change banking information, you may do so through your PeopleSoft student account.  If you need further instructions, please contact Student Financials at StudentFinancials@wakehealth.edu.  Incoming students will receive an email approximately two weeks prior to orientation with instructions on enrollment.

Quick Reference

Financial Aid

Phone: 336-716-4264
Fax 336-716-9593

Email:
finaid@wakehealth.edu

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Disclaimer: The information on this website is for general informational purposes only and SHOULD NOT be relied upon as a substitute for sound professional medical advice, evaluation or care from your physician or other qualified health care provider.