Frequently Asked Questions

Question: What is the College of Medicine code number for filing the FAFSA?
Answer: E00588

Question: What is the College of Medicine Federal School code number for application for the Federal Direct and Stafford Loan Programs?
Answer: 001989 (if requested, the branch code is 02)

Question: Is online entrance counseling required when completing the MPN?
Answer: Students who borrow from the Federal Direct Loan Program will complete entrance counseling online when completing the Master Promissory Note. Students who borrow from any lender in the Federal Stafford Loan Program must complete Entrance Counseling. The College of Medicine will automatically be notified when you complete this requirement.

Question: What is the Web address to complete the MPN online for a Direct Student Loan?
Answer: http://www.dlenote.ed.gov (The MPN must be completed in ONE SESSION approx. 30-45 minutes)

Question: What information is needed to complete the MPN?
Answer: US Dept. of Education PIN NO. (refer to No. 3); you can request a PIN and, you will need complete contact information for at least two references (two separate US addresses) whom you have known for at least three years (one should be a parent or legal guardian).

Question: How often must the MPN be completed?
Answer: You will only need to complete the MPN one time (your first application for a Stafford or Direct Loan) as long as you remain enrolled in the College of Medicine and do not change lenders. Should you change lenders, a new MPN will be required at that time.

Question: Where will my University of Kentucky tuition statement be mailed?
Answer: Tuition statements will be emailed to you at the beginning of each semester.

Question: How will the loan funds be disbursed if you select the Direct Loan Program?
Answer: The loan funds will be posted in two equal payments, one at the beginning of the school year and the second one in January. The payments will be posted to your University student billing account for payment of tuition and fees and, if the loan exceeds that amount, a refund check will be issued to you by Student Billing. This check will be mailed to your local address, be sure to update your address at the MyUK portal.

Question: How will the loan funds be disbursed if you select the Stafford Student Loan Program?
Answer: Currently, loan funds are being disbursed to the school in two equal payments (actual checks payable to the student), one at the beginning of the school year and the second one in the spring semester (mid-January). Students who have no other aid being credited to his or her account must pay in full.

Question: What other types of aid will be directly posted to tuition and fees?
Answer: Any other institutional loan or scholarship that is awarded by the College of Medicine, (i.e. Perkins, Shely, Primary Care Loans, academic scholarships, private scholarships sent to the school for disbursement, military scholarships, etc.).

Question: Where do you pick up Stafford Loan checks?
Answer: Stafford Loan checks will be disbursed in the Student Affairs Office, 138 Leader Ave., Office of the Dean, Lexington, KY.

Question: What options are available for the payment of tuition?
Answer: Students can pay tuition and fees by credit card or electronic check online at MyUK portal. Students who fail to meet the initial fall and spring semester deadlines will be assessed a monthly penalty of 1.25 percent of the unpaid balance.

Question: When will you be notified of what aid is being processed for 2009-2010?
Answer: All new students who file an application for financial aid will receive a Financial Aid Award Notice Letter. The target date is June 1 or earlier, if possible. The recipient must accept, decline (may also increase or reduce) the aid offer at the MyUK portal ("Financials" tab; go left to Navigation bar--financial aid; go to view/accept awards).

Question: When will you receive a residual refund check from the University?
Answer: A residual refund check is generated when financial aid credit (actual funds directly posted to tuition account, i.e. direct loans, institutional loans and/or scholarships and certain Stafford Lenders who disburse by Electronic Funds Transfer (EFT) exceeds total charges). This check is made payable to the student and will normally be mailed within five business days after financial aid credits to the account. Residual checks are mailed to your local address on file at the MyUK portal, however, you may also have your residual funds directly deposited into your bank account (direct deposit form must be completed). Without a current address, the check will be mailed your permanent address on file. The student is responsible for updating addresses on file to prevent payment delays.

Question: Does the school have to certify your eligibility for a Direct or Stafford Loan before you complete the MPN online?
Answer: No

Question: If you attended UK as an undergraduate student and you have an outstanding Direct Student Loan(s), is it necessary for you to complete another MPN to continue in the program as a first-year medical student?
Answer: No

If you are unable to complete the MPN online, how can you satisfy this requirement?
Answer: Consider the following: Request an MPN direct from the lender, download the MPN from the lender’s Web site, or check with Financial Aid for availability. After manually completing the MPN, send it to the lender (verify the mailing address).

Question: When will the first loan disbursement or refund check be available to pick up?
Answer: For all new students who select a lender that disburses by check to the school, the funds can be released to the student anytime once the student has enrolled, completed all necessary paperwork and satisfied the entrance counseling requirement.

Question: What is the verification process and how will you know if you have been selected?
Answer: It will be noted in the Student Aid Report (SAR) you receive once the FAFSA has been processed. If you are selected, please complete the Verification Worksheet (PDF). You will need to complete and return the worksheet to Financial Aid along with a copy of your 2008 Federal tax and W2 forms, if applicable. Verification is a random selection process by the federal processor and serves to prevent fraud and abuse by documenting the financial information that is submitted on the FAFSA. The verification process must be completed prior to the disbursement of aid.

Question: Are students permitted to work during medical school?
Answer: Students are not encouraged to work while in school. Students wishing to seek an exception must see the Assistant Dean for Student Affairs.

Question: Can you purchase a computer and receive a federal loan for the cost?
Answer: Yes, with proper documentation of the purchase (maximum of $3,000) to Financial Aid. This cost is funded only once during your medical school career.

Question: Who do you contact if you have remaining eligibility for veteran’s (VA) educational benefits by the State Approving Agency for use during your enrollment in medical school?
http://www.vba.va.gov/ro/stlouis/index.htm
Forms: http://www.warms.vba.va.gov/
Phone: 888-442-3551
http://www.gibill.va.gov

Question: Is a financial aid transcript required to be on file if you have previously attended a health professions school?
Answer: Yes, since all federal student loans are NOT reported to the National Student Loan Database (NSLDS), this requirement can be satisfied by a letter from the school you attended verifying the aid you received, if any, and the amount(s).

Question: What happens if the cost of attendance changes after the loan has been certified for the full budget?
Answer: Should any cost of attendance items increase after the loan has been certified, the loan amount initially requested will automatically be corrected to cover the additional cost if there is sufficient time remaining prior to the first disbursement. If not, a supplemental loan request can be processed.

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