Federal Loan Application Process
Deadline: March 1, 2018 – regardless of acceptance status or class year.
1: Free Application for Federal Student Aid (FAFSA)
Wake Forest School of Medicine School Code:
qualify for federal student loans for the 2018-2019 academic year, complete the
2018-2019 FAFSA online after October 1, 2017. Completing
the online form is faster and prevents many of the common errors associated
with the traditional paper form.
and returning students should submit the FAFSA no later than March 1,
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 will be mailed to you about 4 weeks after you
submit the FAFSA.
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.
no corrections are needed, keep the SAR for your records. If you listed the
WFUSM school code in the college release section of your SAR, we will receive
your information electronically.
2: What to Expect after Applying
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.
notifications will be emailed in mid-April 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.
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. Note: The total amount you accept will
be divided into two equal disbursements.
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 Federal Student Aid to complete the MPN process.
Another federal requirement is online entrance counseling located at the same site Federal Student Aid. Federal loans cannot be disbursed prior to both MPN and entrance counseling completion.
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