Need to Know Information
Important Information Regarding Financial Aid During Your Clinical Terms
Interim Period between ending Term 5 and 1st Clinical Placement
Once you complete Term 5 you will be designated as being on "vacation" for up to 20 weeks or until you start your first term of clinical rotations
If Clinical Term 1 start date is scheduled more than 20 weeks after your Term 5 end date (this is the last day of class), you will need to have completed a Leave of Absence request in order to keep your federal loans in deferment status
If Clinical Term 1 does not start on or before 6 months from your Term 5 end date, you will be reported to your loan servicer as withdrawn and your loans will no longer be eligible for a deferment
The 6 months you were out of school will be determined to be your loan grace period your loans will immediately enter repayment status
Contact your loan servicer to determine your payment plan, deferment, or forbearance options
Once you return to school, you will be eligible for an "in school deferment"
If you are asked by your loan servicer to complete a deferment form please fill out the student portion and forward to the Registrar's office
SGU reports enrollment every 30 – 60 days to the Department of Ed
Students are not eligible for financial aid during this vacation period. You will become eligible when you start your clinical term
Click the link below for a more detailed example of a Clinical start timeline and how this impacts your enrollment and financial aid
Beginning 1st Clinical Term
- Log into your SGU Student Self Service account to determine what financial requirements are needed to process your federal loans during your clinical term(s) for the upcoming aid year
- Your clinical rotation start date will determine if your awards will reflect a one or two term clinical budget for the current aid year
- If you are offered a two term loan please be aware that what you accept to borrow will be split between two clinical terms. The second half will disburse when you enter the next clinical term.
- Once your FAFSA is received by SGU and processed completely, you will receive a financial aid award notice via email
- Log into SGU Student Self Service under the upcoming aid year to view and accept/decline award offers
- The Financial Aid office cannot begin the processing of the loans you accepted until the Clinical Department confirms that you have submitted all their requirements for placement and the start date
- The Master Promissory Note (MPN) requirement on SGU Student Self Service will remain outstanding and you will continue to receive missing requirement emails from firstname.lastname@example.org until the FA Office can confirm the start date of your clinical placement, even if you have already completed them at https://studentloans.gov
- Once your start date is confirmed, your Financial Aid Counselor will certify your loans, and the information will be transmitted to the Department of Education
- This loan certification will then "link" your loans to your completed Master Promissory Notes (MPN's) for the current aid year, which will allow the loan to be scheduled for disbursement
- Confirmation of your Direct Loan MPN's will be updated in our system, satisfying your outstanding requirements approximately 24-48 business hours after your loan is certified by the Financial Aid Office
Subsequent Clinical Terms
- Students will complete five (5) clinical terms
- Each term is sixteen (16) weeks of rotations (not 16 calendar weeks)
- Total of eighty (80) weeks of clinical rotations
- The start of a new rotation does not necessarily mean the start of a new clinical term
- This will affect your financial aid disbursement schedule
- In order for you to proceed to the next term and be eligible for financial aid you must have completed 16 weeks of rotations – NOT CALENDAR weeks
- Any time that you take off will not count towards the 16 weeks you need to complete the term
- Time off will extend the length of your term – this will affect when you are eligible to receive your disbursement
- Budget your funds appropriately
- View the attached slide for more information regarding weeks of rotations vs. calendar weeks and how this impacts your financial aid
General Information to remember regarding Financial Aid during your Clinical rotations:
- Financial Aid requirements will have to be completed three (3) or more times during the clinical curriculum, depending on when your rotations and individual terms begin
- New Master Promissory Notes (MPN's) are required for every NEW loan period, and should be completed online at https://studentloans.gov .
- Each clinical term, your student account will be billed for Tuition, Administrative fees, and Malpractice Insurance. If you elect to enroll in the SGU sponsored health insurance policy, this will be billed to your student account in July of each year.
- Keep your schedule current in our system by updating your Clinical Coordinator
- This may impact determining when your next clinical term starts and postpone receiving your financial aid disbursements.
- If you do not keep your schedule current, it could reduce your financial aid eligibility
- If there are no future rotation scheduled within 30 days of your last scheduled rotation, the Registrar's Office will administratively withdraw you and your loans will go into grace period or repayment status and your current loans awarded may need to be reduced
- Out of Network Electives - US federal loan regulations restrict federal loan borrowers to no more than eight (8) weeks of electives in a single clinical site in an out of network hospital.
- UK Clinical Sites - Site must be approved by US Department of Education in order to be eligible for US federal loans. Your Clinical Studies Coordinator will have the most up to date listing of approved UK affiliated hospitals
- All questions concerning scheduling should be directed to your clinical coordinator in the clinical department via email. The general email address for the Clinical Department is CLINED@sgu.edu.
- Electronic Residency Application Service (ERAS) Applications - Expenses incurred for up to 150 ERAS applications can be submitted for a budget increase
- For information regarding requesting a Professional Judgment for Budget Increase for ERAS applications and/or other qualifying expenses, please visit the Budget Increases section
After Clinical Rotations
- Once you successfully complete the required 80 weeks of rotations, our Registrar's Office will update the National Student Loan Data System (NSLDS) to indicate that you are no longer enrolled
- You will be contacted by your loan servicer regarding your loan repayment options and timetable