School of Medicine - Frequently Asked Questions (FAQ's)

How much financial aid am I eligible to receive?

US citizens and permanent residents receive a combination of Direct Unsubsidized loans, Direct PLUS (and in some cases private alternative loans) and scholarship up to the estimated cost of attendance. A satisfactory credit rating is required in order to be approved for a Direct PLUS or private alternative loan.

How long does it take to process my financial aid?

It may take approximately 2 to 3 weeks for Federal Student Aid to process the Free Application for Federal Student Aid (FAFSA). Direct Unsubsidized and Direct PLUS loans cannot be certified until we receive the Student Aid Report which results from the processed FAFSA. Once all requirements are met (FAFSA, Unsubsidized and Direct PLUS MPNs, PLUS Application, Entrance Counseling, and Loan Award Acceptance on Self Service Banner) your Financial Aid application will be complete.

How much are tuition costs each year?

There are 5 academic years and 5 corresponding loan periods, that may be completed in 4 calendar years. Please refer to the Loan Eligibility and Program Structure page for additional information regarding program structure. Current rates for tuition and administrative fees can be found by accessing the Student Budgets section, and are subject to change.

Do I have to make the initial $1,000 deposit, or can that come out of my financial aid?

You must make the $1,000 deposit by the designated due date in order to reserve your seat in the program. Since financial aid is not disbursed until 10 days prior to the start of the term, the initial deposit will have to be made through an alternative payment method. This deposit payment will be applied to your student account and will be applied towards your account balance due for Term 1. For additional questions regarding your deposit, please contact your Admissions Counselor.

Are scholarships available?

Information regarding institutional scholarship applications is included on this website under the Scholarships link. When applying for Need-Based scholarships, be aware that a completed application must be received by November 1st for class commencing in January and June 1st for class commencing in August. The Scholarship Committee will review your application and determine your eligibility and you will be notified of the committee's decision via email after the scholarship deadline has passed.

How and when will I receive my financial aid disbursements?

Approved loan funds will be electronically disbursed to SGU no sooner than 10 days prior to each term start date. Any refund resulting from a credit balance on your account will be issued to you via paper check to your mailing address on file or you may also choose to enroll in Direct Deposit and have your funds directly deposited into your US Bank Account.

When will I know how much financial aid I will be awarded?

Students are eligible for their total cost of attendance in financial aid. Financial aid may consist of a combination of student loans and scholarships (if applicable). Your total cost of attendance includes both direct (university billed) and indirect (living) expenses.

How do I submit my Loan Award Acceptance through Self-Service?

When your financial aid is awarded for the aid year, you will receive an email from notifying you to log into Student Self Service and view your student account to accept/decline your awards. For incoming students, scholarship decisions may not have been determined by the time your student loans are awarded to you. If you receive a scholarship at a later date, your loan awards will be adjusted accordingly, and your loans will be reduced by the amount of the scholarship award.

On Student Self Service under "Satisfied Requirements," it DOES NOT indicate that I completed my Unsubsidized and Grad PLUS Loan Master Promissory Notes or my Grad PLUS Loan Application. Why are these items excluded even though I completed them?

Unsubsidized Loan and Grad PLUS Loan Master Promissory Notes and Grad PLUS Application requirements do not appear on your Student Self Service account until loan awards are offered by the Financial Aid office and accepted by the student. Accepting your loan offer tells our "system" that you will be requesting federal student loans.

Once your award offers are accepted, we then request that confirmation of your completed MPNs and approved PLUS Application be sent to us by the Department of Ed.

It generally takes approximately 24-48 business hours from the time a student accepts their loan awards to the time that these outstanding requirements are reflected as "Received" on your Student Self Service account.

How much will my loan refund be?

You will receive any funds in excess of the school billed expenses on your student account. The actual calculation of amount is done by the Office of Student Finances. Should you have any additional questions, please contact the Office of Student Finances at ext. 1360 or

What kind of credit do I need?

Direct PLUS loan borrowers cannot have an adverse credit history. You are considered to have an adverse credit history if in addition to other conditions, applicant has had bankruptcy discharge or forclosure within the past five years, accounts currently 90 days or more delinquent, charge-offs/write-offs of federal student loans, or has defaulted on a loan, even if the claim has been paid.

For a complete explanation of what, is considered adverse credit history, please visit the Federal Student Aid website.

Before you apply for the Direct PLUS loan or private loan it is wise to request your credit report from one of the national credit agencies. It is important to know what your credit says about you, as there may be adverse or negative information that may or may not be correct. You can check your credit at

What if I get denied the Direct PLUS loan?

If you are not approved for a Direct PLUS or private loan you will need to get either appeal the credit decision or obtain a credit-worthy cosigner. A cosigner agrees to the responsibilities of a credit application with you, which basically means they take on the liability for your debts. Your co-signer must be a US citizen or permanent resident and credit worthy.

If you are subsequently approved for a Grad PLUS loan by obtaining an endorser or successfully appealing the credit decision, you will be required to complete PLUS Counseling online at in order for the funds to be approved for disbursement. 

Please note: The consequences however for not being able to obtain the Direct PLUS loan or private loan on your own OR with a co-signer could impact your ability to have the funds necessary for living expenses, as your Direct Stafford loans do not cover your entire budget amount.

For how long are credit checks valid?

A Grad PLUS credit check is valid for 180 days.  

Can endorsers of Direct PLUS Loans complete the endorser addendum online?

Yes, Direct PLUS Loan endorsers will be able to complete an online Endorser Addendum at

Can I defer my previous student loans?

Once enrolled at least half-time, you will be automatically reported as enrolled to your federal loan servicers, which will place your loans into a deferment status. Initial reporting of in-school status not submitted until after Term 1 begins, so it is important to continue to make any payments due or speak with your loan servicer about deferment or forbearance options until your loans are officially reported with an in-school status. During the In-School period, the federal government will pay the interest on any Subsidized loan that you have borrowed.

Students with previous private student loans should contact their servicer regarding what deferment options may be available. Private or Perkins loans may require an In-School Deferment form to be submitted. Students can download an In-School Deferment Request form from their servicer's website and submit it to the Registrar's Office at for processing. 

When do I begin to repay my loans?

Direct Subsidized / Unsubsidized loans have a grace period of 6 months following completion of your education. During residency, you may postpone or minimize repayment of the Federal Direct Loans by applying for an economic hardship deferment / forbearance, or an Income Driven Repayment plan (IDR) for each year of your residency. Exit Counseling prior to graduation will clarify your options.

What are Loan Origination Fees?

The Department of Education charges a loan fee (also called an origination fee) on Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans. The loan fee is deducted proportionately from each loan disbursement you receive. This means the money you receive will be less than the amount you actually borrow.  You're responsible for repaying the entire amount you borrow and not just the amount you received. 

For all loans with a 1st disbursement on or after October 1, 2019 and before October 1, 2020, the origination fee deducted from all Direct Loans at the time of disbursement is as follows:

1.059% fee - Direct Unsubsidized loans

4.236% fee - Direct Graduate PLUS loans

What are federal loan interest rates?

For loans with a first disbursement on or after July 1, 2019 interest rates are as follows:

6.08% fixed rate for Direct Unsubsidized loans
7.08% fixed rate for Direct Graduate PLUS loans

Interest rates are fixed for the life of the loan. Interest rates are set by Congress and are subject to change every year for new loans as of July 1. 

How can I determine who services my federal loans?

Information regarding your federal loan debt can be accessed via the Federal Student Aid Loan Summary PagePlease be aware that any private (alternative) loans you have borrowed will not appear in the summary.

How do I contact customer service regarding the Direct Loan Program?

The U.S. Department of Education Direct Loan Program Customer Service phone number is (800) 848-0979

Federal Student Aid Student Information

Understand Aid / Apply for Aid / Complete Aid Process / Manage Loans

Retrieve Your Loan Information