Applying for Aid | Office of Financial Aid & Scholarships

Applying for Financial Aid

At UNC, the types of financial aid listed above can be divided into two categories for application purposes. The first category is made up of federal loans and School of Medicine scholarships. You will apply to these using the FAFSA form (at the FAFSA website). A Scholarship Application will be provided to you upon acceptance via the Admissions Office. Additional items needed will be done via Connect Carolina. When you complete these items, you will automatically be considered for all the types of assistance for which you are eligible, including both loans and scholarships. The Financial Aid Office then creates a financial offer for you with various different sources, the majority of which are loans and some of which are scholarships. Loans will be the primary source of your financial offer, and scholarship awards will be determined by the Scholarship Committee.

The second category is made up of all other types of financial aid — private loans, specialty scholarships, Armed Forces scholarships, service programs, and forgiveness programs. For these, you will need to apply directly with that organization.

As you begin the application process, be sure to always go through Connect Carolina when you are completing forms and applications — this is very important, as it is how we keep your records (and your to-do list) up-to-date and accurate.

Preparation

A little preparation before you get to medical school can make a world of difference in your financial future. A major way to set yourself up for success is to come into the financial aid world with as little debt as possible. As much as you can, pay off consumer debts before applying for financial aid. The next step is designing a budget that works for you and staying within its limits. Practice good spending habits, as well as good record keeping habits, and carry those habits with you to medical school.

Step One: Review the Eligibility Requirements to Ensure You are Eligible

The first step in applying for financial aid is checking through the eligibility requirements to ensure you are eligible to receive financial aid before you start applying.

The eligibility requirements are:

Must be enrolled at least half time
Must be a US Citizen or permanent resident
Must be making satisfactory academic progress
Cannot be in default on a loan
Must be registered with selective service (if required)
Cannot have federal benefits suspended or terminated as the result of a drug conviction

If you can check off all of these requirements, move on to step two. If you have questions about any of these requirements, email us or call the financial aid office at 919-962-6118.

Step Two: Complete the FAFSA

If you are eligible to apply for financial aid, the next step is completing the Free Application for Federal Student Aid (FAFSA) by October 1. You must submit the FAFSA to be considered for financial aid, including scholarships and loans. You can find the FAFSA form here.

The UNC Chapel Hill School of Medicine School Code for the FAFSA is 002974.

You will need the following documents to complete the FAFSA:

Your most recent tax return
Your W-2s
Your bank statements going back at least one month
Your investment records
Not needed: Your parental data, as you are considered an independent student at the graduate and professional level. See the “Determining Student and Family Contributions” paragraph below for more information and exceptions.

You will be required to create a FSA ID to get started with the FAFSA form. A FSA ID is a username and password that you must use to log in to certain U.S. Department of Education (ED) websites, including FAFSA.gov. Be sure to make note of your username and password, as you will need this every year to complete FAFSA forms. You will need to apply for financial aid each academic year. However, in subsequent years, you will only need to complete the shorter Renewal FAFSA Form.

Determining Student and Family Contributions

Financial need is an important criterion for financial aid eligibility. Financial need is determined based on the information you provide on the FAFSA and FAFSA Renewal forms. You do not need to complete a CSS Profile.

Step Three: Review and Make Corrections to Your SAR

One to two weeks after completing the FAFSA, you will receive your Student Aid Report (SAR) via email. The SAR lists the information you reported on your FAFSA, so you can check your information for accuracy. If corrections are needed, make them immediately by following the instructions sent with your SAR. Keep a copy of the SAR for your records. If you listed the UNC-CH school code in the college release section of your FAFSA, the Financial Aid Office will receive your information electronically. If you did not list UNC-CH, you can request that your information be sent here after you receive your SAR.

Your SAR will also indicate your Student Aid Index (SAI), The SAI is a number used to determine a student’s eligibility for federal student aid, like grants, loans, and work-study programs. It’s calculated based on information provided on the Free Application for Federal Student Aid (FAFSA), and it reflects the estimated amount a student and their family can contribute to college expenses.

Step Four: Complete Any Supplemental Documents

The last step in applying for financial aid is complete any supplemental documents requested by the Financial Aid Office. The Financial Aid Office must have all requested information back before loan applications can be certified and financial aid can be disbursed. These supplemental documents can include a Verification Form. Some students are selected for random verification by the U.S. Department of Education and must complete a Verification Form and return it to the Financial Aid Office.

Once you have submitted all of your supplemental documents, you have completed the process of applying for financial aid. The next step is receiving your financial aid, and you can find out more about how to receive your financial aid here.