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General Financial Aid Questions

The Cost of Education (COE) is the standard cost of a student’s medical education for an academic year, as calculated by the UNC-CH Office of Scholarships and Student Aid. It takes into account the following categories:

  • Tuition
  • Fees
  • Books
  • Supplies
  • Estimated room and board
  • Transportation
  • Personal expenses

Your financial aid is based on the Cost of Education, which is a standard allowance, and not on your preferences or spending habits. For more information about the Cost of Education, click here.

The 2018 – 2019 UNC School of Medicine Cost of Education is $67,902 for NC residents and $94,782 for non-residents. For more information about the Cost of Education, click here.

On occasion, additional expenses may be included in your budget; However, this must be discussed with a staff member of the Financial Aid Office prior to applying for financial aid. Receipts will be required for approval of any additional expenses. Budget adjustments based on these expenses will be made only once per semester and will be met with loan funds. The Revision Form must be submitted for those expenses. Below, find some additional expenses that could potentially be approved as additions to your basic budget, as well as some that will not be approved. For more information about what may and may not be approved as additions to your basic budget, click here.

In order to be eligible to recieve financial aid, you must be enrolled at least half time, be a US Citizen or permanent resident, be making satisfactory academic progress, not be in default on a loan, be registered with selective service (if required), and not have federal benefits suspended or terminated as the result of a drug conviction.

Applying for Financial Aid Questions

To be considered for financial aid, students should submit the current year Free Application for Federal Student Aid (FAFSA) to the address indicated on the form. The UNC-Chapel Hill School of Medicine must be indicated on the form as the institution to receive the FAFSA. All sections must be completed for a student to be considered for any University and federal funds. An incomplete form delays the application and reduces the chances for receiving financial aid promptly.Complete online at

Students must understand that priority for financial aid is given to those who submit the FAFSA form for processing by no later than March 1st, the priority processing deadline. Because financial aid funds are limited, the most beneficial types of aid are awarded to students who meet the preference deadline. Applications are accepted after March 1 but are considered only as time and resources permit.

The FAFSA form asks for information about an individual’s personal and family financial circumstances. Because the form refers to questions on the federal tax return, students should complete tax forms before filing the FAFSA form. If a student must delay completion of tax returns, she or he should provide estimated tax data on the FAFSA form in order to meet the March 1 deadline. Students should keep a careful record of the dates that they submit forms and make photocopies of all information requested in their application for financial aid.

The Expected Family Contribution represents an estimate of the ability of you and, if applicable, your family to contribute to your educational costs. This standard need analysis is called the Federal Methodology (FM) and was passed into law by Congress under the Reauthorization of the Higher Education Act of 1965, and amended by the Higher Education Amendments of 1992. The FM uses the previous years’ income in the analysis. An “income protection allowance,” which represents the cost of basic necessities for all family members, is used in calculating the EFC. The FM allows for adjustments to be made by the Financial Aid Officer on an individual basis, with required written documentation. If you think you need to make changes to your EFC, contact us to schedule an appointment.


A small number of scholarships are awarded to students some are based on need, and some on merit. A scholarship application must be submitted. The Financial Aid Office informs as quickly as possible students who are not eligible for financial assistance from funds awarded by the office. These students are supplied information about other sources of financial support and suggestions for ways to meet UNC-Chapel Hill expenses. For further information about financial aid and financing options visit the

Scholarships are awarded from the Scholarship Committee based on review of your scholarship application, which is provided to you directly upon acceptance to UNC Chapel Hill School of Medicine. Both merit and need are considered when the Scholarship Committee evaluates applicants. The number of scholarships awarded as well as the amount of each individual award depends on the funds available, the need of the applicants, the qualifications of the applicants, and the number of applicants qualifying for financial assistance. For more information and a list of some available scholarships, click here.

Yes, there are a number of specialty scholarships as well as armed services scholarships.


A loan servicer is a company that handles the billing and other services on your federal student loan. Your loan is assigned to a loan servicer by the U.S. Department of Education after your loan amount is first disbursed.

Your servicer should contact you directly after your funds are disbursed, but if you’re still unsure you can find out who your loan servicer is by visiting

Be sure to always go through Connect Carolina to complete forms and applications pertaining to loans — this is very important, as it is how we keep your records (and your to-do list) up-to-date and accurate.

  • You have the right to prepay any federal loan (including Stafford, Perkins, PLUS, or consolidation loans).
  • You have the right to not be charged any prepayment penalties on federal student loans.
  • You have the right to make payments towards your loan or pay more than what is required at any point in time (including while you are still in school).
  • You have the right to contact your servicer and request that your term be shortened or that your repayment plan be changed at any time (likely during or after residency).
  • You have the right to request the lender reduce or postpone payment through a deferment or a forbearance if you are experiencing financial difficulties.

Remember: You must be proactive in exercising these rights! Your lender will not reach out to you and remind you of them.

  • You are responsible for paying back your loan on time.
  • You are responsible for making your regular payments by the due date, whether you receive a statement or not.
  • You are responsible for notifying your servicer(s) of any address changes.
  • You are responsible for completing entry and exit counseling with your financial aid officer.

You have several options for repayment plans, which vary in amount of monthly payments, length of deferment, length of repayment term, total interest, and income/family requirements. The repayment plan options are Standard Repayment, Extended Repayment, Graduated Repayment, Income-Contingent Repayment (ICR), Income-Based Repayment (IBR), Pay As You Earn Repayment (PAYE), and Revised Pay As You Earn Repayment (REPAYE).

For more information about loan repayment, click here.

The NSLDS (National Student Loan Data Service) website is your home base for your loan information. This is where you can find information about your loans and servicers.

Receiving Aid and Paying Your Bill

Once you have met all the requirements for disbursement, the Financial Aid Office will transfer your funds to the Cashier’s Office. This typically occurs before the first week of class. Funds due to you are usually available to you on the first day of class. If you do not meet the requirements until after the beginning of the semester, your financial aid disbursement will be delayed. We anticipate refunds will be available mid-August. For more information and a chart of disbursement dates, click here.

You can pay your bill online at the Cashier’s Office.

Please note that paper bills will no longer be sent. It is your responsibility to tell your parents or any other person who helps pay your tuition that a bill is ready to be viewed and paid in Connect Carolina. Failure to pay or defer the bill by the due date may result in late fees, interest, registration cancellation, and/or holds.

If you cancel your classes, the Financial Aid Office refunds 100% of the prepaid tuition and fees to your lender or scholarship.

Please note: Cancellation and withdrawal are different. CANCELLATION means that you have never attended class. No entry is made on your permanent record. To qualify for cancellation, the Registrar must verify non-attendance in class. WITHDRAWAL means dropping of ALL classes once classes have begun. This results in a prorated refund to your lender or scholarship. Check here for prorated dates: