General Information & Policies for the 
Doctor of Medicine Program top

Introduction

Congratulations on your acceptance to medical school. Now that you have successfully navigated the admissions process, you find yourself faced with funding your medical education. Medical education is expensive. High student debt loads and constantly changing health care reform issues are concerns for those entering medical school today. It is our hope that you will use the resources available within the Office of Student Financial Planning (SFP) here at MUSM to help alleviate some of your fears and concerns.

If you would like to print a copy of The Financial Aid Maze 2008-2009  (A Guide to Financial Planning and Resources), please download one of the following:

The primary responsibility for the funding of your education lies with you and your family. However, many families today cannot contribute sufficient funds to meet the expenses of attending medical school. Student loans are available from the Department of Education, the Department of Health and Human Services, and private lenders for those students who do not have an adverse credit history. If you have good credit, money is available to finance your education. The goal of the Office of Student Financial Planning is to assist you with individual counseling on financial planning and debt management that will enable you to graduate and practice medicine with the least possible amount of debt.

When you have assessed your realistic family contribution and constructed a budget that is liveable, then we will be in a position to help you apply for federal and MUSM financial assistance. Begin financial planning by establishing a budget and learning to live within that budget. Search for "free" or "low interest" money; i.e., extended family members, corporations, religious organizations, counties, communities, foundations, employers, etc.

All students are encouraged to be creative in financing their education. Many opportunities are available to those who intend to practice primary care medicine. You may be able to locate financial support on your own. If you are from a rural area of Georgia and want to return there to practice, talk to your hospital administrators or recruiters, county commissioners, concerned citizens (like your local druggist, practicing physicians, etc.). Let them know you have been accepted to medical school and need assistance to fulfill your goal of becoming a physician. Stay in touch with people in your community who may be able to help you finance your medical education.

This bulletin is intended to help you negotiate the financial aid maze. Please use it as a resource
throughout the year. The staff of the MUSM Office of Student Financial Planning is looking forward to helping you with your questions about financial planning. Feel free to call us at 478/301-2853 or to stop by our office.
 

Privacy of Information   back to top

All documents submitted on behalf of an applicant remain strictly confidential. No copy of information is released to anyone, including family members, spouse, faculty members or program directors, without written consent of the applicant. This institution has the right to disclose information in connection with financial aid for which a student has applied or has received as necessary for such purposes as determining the amount of aid or conditions that will be imposed regarding aid and enforcing the terms or conditions of the aid.

Student Rights and Responsibilities  back to top

The student has the right to know:

1. The cost of attendance.

2. What financial aid programs are available from federal, state, and institutional sources.

3. Procedures or deadlines for submitting financial aid applications.

4. How financial aid is distributed, how decisions about that distribution are made, the basis for those decisions.

5. How the student's financial need is determined. This includes how costs for tuition and fees, room and board, travel, books and supplies, personal and miscellaneous expenses, etc. are considered in the student budget.

6. How the student's eligibility was determined and what resources (such as parental contribution, other financial aid, student and family assets, etc.) are considered in the calculation of financial need.

7. How much of the financial need, as determined by the institution, will be met.

8. An explanation of the various programs in the student aid package. How and when funds will be disbursed to you.

9. The school's refund policy.

10. What portion of the financial aid must be repaid and what portion is grant aid. If the aid is a loan, the student has the right to know the interest rate, the total amount to be repaid, the repayment procedures, the length of time he or she will have to repay the loan, when repayment is to begin, and the cancellation or deferment provisions of the loan.

11. How the school determines satisfactory academic progress and what happens if progress is not satisfactory.

12. That all documents submitted to the Office of Financial Aid are confidential.

13. How to appeal a decision made by the Financial Aid Office concerning your award.

The student's responsibilities are to:     back to top

1. Accurately complete all documents required for financial aid and submit them properly before the deadlines.

2. Provide correct information. In most instances, misrepresentation of information on financial aid application forms is a violation of law and may be considered a criminal offense which could result in indictment under the U.S. Criminal Code.

3. Be responsible for reading and understanding all forms requiring his or her signature and for keeping copies of them.

4. Accept responsibility for all signed agreements. Repay all student loans you receive.

5. Return all additional documentation, verification, corrections, and/or new information requested by the Financial Aid Office or the agency to which the application was submitted.

6. Be aware of the school's refund policy and procedures.

7. Notify the Financial Aid Office of any change in your enrollment or financial status (including all scholarships and grants received from outside sources.) Changes in enrollment status and address changes must also be reported to all lenders with whom you have a loan.

8. Participate in an entrance interview or workshop with a financial aid counselor before applying for loans from any source. The interview will review available loans and the terms and conditions of each loan.

9. Attend an exit interview prior to leaving MUSM whether by graduation or withdrawal. The exit interview session will inform the student of loans and repayment, deferment, forbearance options.

10. Be aware of and comply with all requirements for continuation of financial aid, including satisfactory academic progress requirements.

Falsification of Records    back to top

Falsification of any part of the financial aid application may result in denial, withdrawal, and/or demand for repayment of financial aid funds disbursed. Students will also be in violation of the MUSM Honor Code which will mandate an appearance before the Honor Court.

It should be noted that financial information submitted on the Free Application for Federal Student Aid (FAFSA) or the Renewal Application for Federal Student Aid (RAFSA) will be used to establish eligibility for federal student aid funds and that misrepresentation may subject the filer to sanctions under provisions of the United States Criminal Code.

Payment of Tuition  back to top
During the billing period, if a student receives financial aid funds in excess of tuition, the extra amount will be refunded to the student by Mercer One on the tuition due date for each billing period. Additional funds in excess of tuition which are received outside the billing period will be refunded to the student five working days after the check has been received by Mercer One.

Tuition payments are due biannually at MUSM because the phase schedule of the curriculum does not allow for consistent breaks throughout the four years a student is here. The cost of tuition is divided equally for each billing period. Tuition for all students is due on the first day of class and the first working day of February.

Financial aid awards are credited to the student’s tuition account in the following manner: Subsidized and Unsubsidized Federal Direct Loan funds are given in multiple disbursements. Direct Loans are issued by the Department of Education to Mercer University. Direct loans are received electronically and applied to the student’s account. Other financial aid checks are credited to the student’s account and any refund due the student are available five working days after the checks have been received by Mercer One.

 Return/Refund Policy  back to top  

A student who FORMALLY RESIGNS from school prior to the last day of the drop/add period for any term of enrollment will be entitled to a 100% credit of tuition and fees charged for the current term. A student who FORMALLY RESIGNS from school after this date may be entitled to a prorated credit of the tuition and fee charges if certain criteria are met as described in this policy. The criteria for the Mercer Institutional Refund Policy are based upon federal mandates established by the Federal Return Policy which will take effect at all of the Mercer campuses on August 15, 2000, replacing all existing refund policies throughout the University.

Mercer University will maintain a fair and equitable refund policy by adherence to this Institutional Refund Policy in all programs, in all schools, and on all campuses. This policy is subject to change if there are future changes to the Federal Return Policy or other Federal, State, Accrediting Agency, or Institutional policies with which it may conflict.

To FORMALLY RESIGN a student must drop or withdraw from all courses for the term by 1.) personally completing and returning an official Term Withdrawal form obtained from their school's Registrar's Office, or 2.) phoning their school's Registrar's Office and having an official Term Withdrawal form completed for them. The completed form must be received in the registrar's office before the resignation process can be finalized. Resignation calculations will be based upon the date the Term Withdrawal form is received in the registrar's office.

The Institutional Refund Policy states that a student is not eligible for any credit of tuition, fees, or other institutional charges if (1) the student fails to formally resign; (2) the student is suspended for disciplinary reasons; (3) the student resigns when a disciplinary action or honor code violation is pending; or (4) the student withdraws from a class or classes but does not totally resign from the University. When the University has assessed charges in error, a full credit and/or refund of the charges will be made. Financial aid awards and disbursements for students who formally resign from the University after the last day of drop/add each term will be returned to the original source of funds in accordance with the Federal Return Policy. Any exception to this policy will require a written appeal by the student to the Dean or Associate Dean for their school of enrollment.

If a student ceases attendance without notifying the University, a Federal statutory provision allows the University to use the midpoint of the payment period as the withdrawal date for calculating the Federal Return Policy. Otherwise, the University may use the student's last day of academically related activity if it can document the student's attendance. A calculation for the Return of Federal funds will be completed within 30 days of the school's determination that a student has ceased attendance without proper notification. Any financial aid disbursements which must be returned to their original source of funding will then become immediately due and payable by the student to the University and in some cases to the U.S. Department of Education.

The following resignation calculation will be used to determine the prorated amount of tuition and fees to be credited to the student's account and the amount of financial aid to be returned to their source programs:

The total number of calendar days includes all days beginning with the first day of classes and ending with the last day of exams for the student's official program of study, excluding scheduled breaks of at least five consecutive days or more.

When the percentage to be retained is equal to or greater than 60% NO tuition credit or refund of Title IV funds is required by the Mercer Institutional Refund Policy or the Federal Return Policy.

Total tuition and fees for the term of enrollment X (100 - percentage to be retained)
                   = Total tuition and fees to be credited to the student's account

Total amount of Title IV Financial Aid disbursed X (100 - percentage to be retained)
                   = Total Title IV Financial Aid to be returned**

** In most cases the University is required to return only the portion of Federal Financial Aid that has been paid towards institutional charges. Any funds refunded to the student prior to resignation could be repayable by the student to the University or the U.S. Dept of Education. Should the University be required to return federal financial aid funds in excess of those retained for tuition and fees then the student would be immediately responsible for payment back to the University for the full amount of this excess refund.

Total amount to be returned to Non-Title IV funds = Total tuition and fees to be credited to the student's account less the total Title IV Financial Aid to be returned.

Federal Title IV financial aid funds must be returned in the following order:

1. Loans:            -Federal Unsubsidized
                            -Federal Subsidized
                            -Federal Perkins
                            -Federal PLUS

2. Grants (& Other):    -Federal Pell
                                      -FSEOG
                                      -Other Title IV (excluding College Work Study earnings).

Non-Title IV financial aid funds will be returned in the following order:

    1.    Mercer Institutionally funded Loans
           Mercer Institutionally funded Grants/Scholarships
    2.    Mercer Endowment funded Loans
           Mercer Endowment funded Grants/Scholarship
    3.   State and Other Loans
          State and Other Grants/Scholarships
    4.   Student/Parent Payments

Sample Refund Calculations: Fall Semester, 2000

First Day of Class     =     August 21, 2000 (Monday)
Last Day of Exams   =     December 8, 2000 (Friday)

Holidays     =     Labor Day, Monday, September 4, 2000
Thanksgiving Break, Thursday and Friday, November 23-24, 2000

Number of Calendar Days between August 21 and December 10	=	110 days
Number of Scheduled Breaks lasting five consecutive calendar days or longer	=	none
Total Calendar Days in this enrollment period	=	110 days

Resignation Scenario #1: A graduate student formally resigns in the Registrar's Office on Monday, September 18, 2000.

Typical Charges: $3,645 Graduate Tuition

Financial Aid Disbursed: $5,000 Federal Subsidized Direct Loan of which $1,355 has been refunded to the student.

Calculation: Number of Calendar Days between August 21 (First Day of Class) and September 18 (the date of Formal Resignation) = 29 days

Percentage of charges to be retained*

= 29 days 110 days

= .2636 or 26.4%

*Note this is the same calculation used for the percentage of Title IV Aid Earned.

Amount of Tuition earned by the Institution = $3,645 x 26.4% = $962.28
Amount of Tuition to be Credited to the Student's Account = $3,645 - $962.28 = $2,682.72

Amount of Title IV funds earned by Student = $5,000 x 26.4% = $1,320.00
Amount of Title IV fund to be Returned to the Direct Loan Program = $5,000 - $1,320 = $3,680

Amount of Title IV funds to be Returned by the University = $3,645 x (100-26.4%) = $2,682.72

Amount of Title IV funds to be Returned by the Student = *Since the student received a Direct Loan the student will be responsible for the repayment of the amount borrowed less the amount Returned by the University in accordance with the promissory note signed by the student.

Snapshot of Student Account:	Tuition	$3,645.00
	Direct Loan	(5,000.00)
	Refund to Student	1,355.00
	Account Balance	-0-  At time of resignation
	Tuition Credit	(2,682.72)
University Refund to Direct Loan Program		2,682.72
	Account Balance	-0- After resignation

Resignation Scenario #2: A graduate student leaves school without formally resigning in or calling the Registrar's Office but the University is able to document that the student last attended class on Monday, September 18, 2000.

The results would be the same as scenario #1

Resignation Scenario #3: A graduate student leaves school without formally resigning in or calling the Registrar's Office and the University is unable to document the student's last date of attendance. Therefore, the midpoint of the term is used as the withdrawal date:

Calculation: Number of Calendar Days in the Term/2 = 55 days

Percentage of charges to be retained*

= 55 days 110 days

= .5000 or 50%

*Note this is the same calculation used for the percentage of Title IV Aid Earned.

Amount of Tuition earned by the Institution = $3,645 x 50% = $1822.50
Amount of Tuition to be Credited to the Student's Account = $3,645 - 1,822.50 = $1,822.50

Amount of Title IV funds earned by Student = $5,000 x 50% = $2,500.00
Amount of Title IV funds to be Returned to the Title IV Programs = $5,000 - $2,500 = $2,500

Amount of Title IV funds to be Returned by the University =$3,645 x (100-50%) = $1,822.50

Amount of Title IV funds to be Returned by the Student = *Since the student received a Direct Loan the student will be responsible for the repayment of the amount borrowed less the amount Returned by the University in accordance with the promissory note signed by the student.

Snapshot of Student Account:	Tuition	$3,645.00
	Direct Loan	(5,000.00)
	Refund to Student	1,355.00
	Account Balance	-0-  At time of resignation
	Tuition Credit	(1,882.50)
University Refund to Direct Loan Program		1,882.50
	Account Balance	-0- After resignation

The major difference between Scenario #1 and Scenario#3 is the amount of the University refund to the Direct Loan program. Assuming the student actually withdrew on September 18, 2000 then the student will pay back $860.22 more to the Direct Loan program than if he/she had taken the time to properly withdraw.

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

Please be aware that pre-enrollment deposits will be forfeited should the student fail to enroll in the semester for which the deposit was intended.

Leave of Absence  back to top
A student may be granted a leave of absence for a variety of reasons. Approved Leave(s) of Absence (LOA) as defined by the Department of Education may not exceed 180 days during a twelve-month period. The 180 days may be taken at one time or may cover several LOAs during the 12-month period for limited, well-documented cases within federal guidelines. A student who takes an approved Leave of Absence is considered not to have withdrawn from the school. A Leave of Absence is approved if:

• The student has made a written request for each Leave of Absence.
• The Leave(s) of Absence does not exceed 180 days in a 12-month period..
• The school does not charge the student for the Leave of Absence.
 

If a student's leave of absence is not approved or the student fails to return to the school at the end of an approved leave of absence, the student is considered to have withdrawn from the school, and the refund requirements apply.

These LOA requirements also affect a student’s in-school status for the purposes of deferring Student Financial Assistance (SFA) Loans. A student on an approved leave of absence is considered to be enrolled at the school and would be eligible for an in-school deferment for his or her SFA loans. A student who takes an unapproved LOA or fails to return to the school at the end of an approved LOA is no longer enrolled at the school and is not eligible for in-school deferment of student loans.

Privileges granted during a leave of absence:
 

1. The student may use the library and other learning resources.

2. A student on leave of absence will remain on the distribution list for any student updates, class newsletters, and other communications.

Tuition Costs for Repeating Courses  back to top

If a student requires an extra semester to complete the curriculum, he or she will be charged full tuition and fees for that semester. Eligibility for financial aid will not extend for more than six years.