Frequently Asked Questions

When is the Financial Aid application deadline?

Incoming Students:  March 15th

Returning Students:  April 1st

What if I need a deadline extension?

A written request must be sent to finaid@wakehealth.edu requesting the extension.  You will receive a response within 48 hours informing you of your new deadline.

How will I know if my file is complete?

It is your responsibility to contact the Office of Student Financial Planning to verify that your file is complete.  Students are encouraged to verify that their tax returns are received [if mailed, faxed, or dropped off].  You are also encouraged to verify that your Need Access forms and FAFSA form have been received and filled out correctly.

Do you need parental data on the FAFSA?

The FAFSA is used to apply for federal loans.  Medical Students are not required to provide parental data for these federal loans regardless of your dependency status.  Parental data is required on the Need Access form for need-based scholarships from the institution.  See the next question. 

Why is Parental Information Required for Need-Based Aid from WFUSM?

Students are considered independent of their parents for federal loans (Subsidized & Unsubsidized Stafford Loans and Graduate PLUS loans.)  But, for purposes of need-based funding from Wake Forest University School of Medicine, parental data is required regardless of the financial relationship between parent and student. 

Students who want to be considered for all need-based financial aid resources will need to provide parental information on the Need Access form as well as copies of 2010 income tax returns.  Parental information will be used to determine need-based scholarship eligibility each year of enrollment.   This information will be collected each year regardless of age or change in marital status.  In determining need-based eligibility, items such as income, assets, family size, and number of other children under age 24 in college, are considered.  Parental information must be reviewed to establish a baseline of potential resources available to students. 

Ultimately, the responsibility for financing a student's cost of a medical education lies with the student.  But, because resources for financially needy students are limited, the student's family must always be considered a potential resource.  In cases where a divorced parent has remarried, the student has the option of using parent and stepparent [parent who last claimed the student on their tax returns].

 In truly exceptional cases where a parent's whereabouts are unknown, a student may submit a request that the requirement for the respective parent’s information be waived.  To do this, the student must present 1) a personal letter to the Office of Student Financial Planning explaining in detail the family situation, and 2) the situation must be documented in a separate letter by a professional third party: clergyman, attorney, social worker, or family physician who has personal knowledge of the family.  In such cases, the Office of Student Financial Planning reserves the right to request supplemental documentation. Such requests will be reviewed and decisions of approval or denial will be made.  Should the student’s request that the requirement for the respective parent’s information be waived be denied, the application for School of Medicine Need-Based Aid will be considered incomplete until the information for the parent in question has been submitted. 

 

Will I be able to get enough funds to cover the cost?

As with most topics in Financial Aid, there is not a simple "yes" or "no".  Once you have followed the Appplication Procedures and been accepted into the program, you will receive an email with your Financial Aid package.