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Eligibility for Financial Aid

To receive financial aid, you must be enrolled at least half-time, be a U.S. citizen or permanent resident, and be making satisfactory progress toward completion of the academic program. You may not be in default on a loan previously received for college expenses or owe repayment on a Title IV scholarship or grant from a previous enrollment period. In addition, for Title IV and Title VII assistance (See Types of Financial Aid), you must supply documentation that you are registered with Selective Service, if required; not have had federal benefits suspended or terminated as a result of a drug conviction; and meet financial need, as applicable, and other program-specific eligibility requirements.

 

Electronic Financial Aid Notification (Award Letter)

Financial aid at the School of Medicine is awarded as a package to meet your need. The total amount of need-based aid awarded to you cannot exceed your financial need. See Types of Financial Aid.

The Electronic Financial Aid Notification (e-FAN) will be available for viewing at MyUNC. The web-based system for information regarding your personal application for financial aid. Just log-in to MyUNC using your ONYEN identification and navigate to the "Financial Aid" tab.

What is an ONYEN? The "Only Name You'll Ever Need" is a university-issued username. This will be used to log in to MyUNC.

What is MyUNC? A campus web portal for use by all UNC students. To log into MyUNC you must have both and ONYEN and password.

Your award letter, the Electronic Financial Aid Notification (e-FAN), is UNC’s offer of financial aid for the academic year. Each award letter will list your cost of education, your parent’s contribution if applicable, your contribution, your calculated financial need, and the total amount of aid offered for the full academic year. You will be notified via email once your award has been completed. If you wish to decline or reduce any of the awards offered, you must send an email with the requested changes to the Financial Aid Office at somfinaid@listserv.med.unc.edu. If you are accepting all funds, you do not need to the Financial Aid Office. Please keep copies of your award for your personal records.

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Types of Financial Aid

The Financial Aid Office handles both student loans and scholarships. These loans and scholarships are primarily from three different sources, with many students using all three. When you apply for aid, you will be considered for all of the types of assistance for which you are eligible. These sources are:

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Federal Title IV Funds

These are both subsidized and non-subsidized loans, such as Stafford Loans. Subsidized loans are need-based; the federal government pays the interest on these loans while a student is enrolled. Non-subsidized loans are not need-based and interest begins to accrue from the time of disbursement. Students are not required to supply parental financial information for Title IV Funds.

  • Subsidized Federal Stafford Loans are processed by banks, lenders, and other state agencies upon the school’s certification of a student’s eligibility. Your responsibility for making interest payments will not begin on subsidized loans until you graduate or drop to less than one-half time enrollment, or after a grace period (usually six months), at which point you begin repayment. You must demonstrate a need for the federally subsidized portion of these loans. The maximum amount of available funds through a subsidized Stafford Loan is $8,500 per year.
  • Non-subsidized Federal Stafford Loans are available if you cannot meet your expected share of educational costs, if you have no eligibility for need-based aid, or you desire all aid available to meet your financial need as determined by the Financial Aid Office. Interest on a non-subsidized loan begins to accrue from the date of disbursement, therefore, you are encouraged to carefully consider how much money is needed before making application. The maximum abount of available funds through the non-subsidized Stafford Loan is $32,000 per year.

The program maximum for Stafford Loans, subsidized and non-subsidized, is $40,500 per year. If you do not qualify for the $8,500 subsidized loan, or you want all the aid you can receive, non-subsidized Stafford Loans may be used to meet the cost of education, up to annual the $40,500 limit. However, you must be aware that the amount of federal aid may never exceed the cost of education established by the school.

If you are considered an out-of-state resident for tuition purposes, you will exhaust total Stafford Loan eligibility before meeting the total cost of education. Commercial alternative loans are available to you in this situation. Staff in the Financial Aid Office can advise you regarding these loans.

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Federal Title VII Funds

These are need-based loans and scholarships for which students must supply parental financial information to be eligible. Title VII funds include the Primary Care Loan (PCL), the Health Professions Student Loan (HPSL), Loans for Disadvantaged Students (LDS), and Scholarships for Disadvantaged Students (SDS).

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School of Medicine Scholarships

These are need-based scholarships funded by the School of Medicine's well-endowed scholarship program. Students must submit parental financial information to be eligible. The number of these scholarships awarded as well as the amount an individual award will be depends upon the funds available, the need of the individual applicants, and the number of applicants qualifying for financial assistance. 

  • Barrett Scholarship
  • Berryhill-Mecklenburg Scholarship
  • Braswell Scholarship
  • Brown Scholarship
  • Burnett Scholarship
  • Braxton Scholarship
  • Class of 1932 Scholarship
  • Class of 1972 Scholarship
  • Dale Scholarship
  • Daniel Scholarship
  • Dark Scholarship
  • Edwards Hobgood Scholarship
  • Eubanks Scholarship
  • Farrell Scholarship
  • Fleishman Scholarship
  • Fox Scholarship
  • Guilford Scholarship
  • Hall Scholarship
  • Hartness Scholarship
  • Idol Scholarship
  • Jean McCoy Graham
  • Jones Scholarship
  • Joyner Scholarship
  • Kenan Scholarship
  • Lock Scholarship
  • Long Scholarship
  • Lowder Scholarship
  • Mangum Scholarship
  • Manning Scholarship
  • McKee Scholarship
  • McLendon Scholarship
  • McLeod Scholarship
  • Medical Foundation Scholarship
  • Midgett Scholarship
  • Orr Scholarship
  • Privett Scholarship
  • Reece Berryhill
  • Saleeby Scholarship
  • Speight Scholarship
  • Sternberger Scholarship
  • Sumner Scholarship
  • Tayloe Scholarship
  • Thorpe Scholarship
  • Turlington Scholarship
  • West Scholarship
  • Wheeless Scholarship
  • Whitehead Scholarship
  • Wilder Scholarship
  • Yokeley Scholarship

 

Thank-You Letters and Annual Dinner

Most of our grant, loan and medical scholar funds exist because of generous gifts from donors/alumni. If you are awarded such funds, you may be required to write the donor(s) a thank-you letter and attend the annual donor dinner usually held in the Spring. Your cooperation is needed and expected, since maintaining the goodwill of School of Medicine donors help assure the availability of funds for the future. Aid recipients who fail to comply with these requirements by the specified date will lose SOM grant for the year.

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Assistance from Outside Sources

The Financial Aid Office encourages you to check into the possibility of assistance from sources outside the university (local clubs and agencies offer scholarships). You may want to refer to publications in your local library which list programs of student aid in all areas of the country and by special characteristics, perhaps appropriate to you.

Federal regulations and university policy do not permit a student to receive more aid than is required to meet financial need. You must report any additional assistance you will receive from other sources to the Financial Aid Office. Because an award is based on your financial need, to prevent an “over award”of funds, your eligibility for funds may change if you receive scholarships, grants, or loans from other sources.

Information on assistance from other sources can be found at:

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Financial Aid for Repeat/Remedial Work

On occasion, a student is required to repeat courses or remediate work to advance to the next year. Such students are eligible to apply for loans.

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