The Most Frequently Asked Financial Aid Questions
How much money can I request?
The amount of money a student can request depends on his/her estimated cost of attendance. The estimated cost of attendance is the estimated cost for attending the Medical University. The Financial Aid Office is required to follow federal guidelines in composing your educational budget. The cost does not include other financial and familial responsibilities that you may have. According to federal guidelines, the cost may include direct educational costs and reasonable living expenses. Your cost cannot include consumer debt such as credit card and car payments.
You may contact the financial aid counselor for your college to obtain a copy of your estimated cost of attendance or budget. Each year, a copy of the estimated budget is enclosed with your first award notification letter. You may request financial assistance up to your estimated cost of attendance. We encourage students to construct a budget and review their expenses before completing the loan request form.
If I run of out of money before the school year ends or if I have an emergency, can I request additional financial aid?
If you need additional financial assistance, contact your financial aid counselor for a personal consultation. You will need to complete a budget adjustment form and provide your counselor with documentation of your expenses. The counselor will review your request for additional funds along with your documentation. The final decision regarding your request is made by the Financial Aid Director. A similar procedure is followed for emergencies. A budget adjustment can only be made for expenses and emergencies which occur during your school year.
Where can I pick-up my financial aid refund checks?
All federal financial aid funds are received and processed by the Student Accounting Office. Student Accounting also receives scholarship checks. The Student Accounting Office is located on the third floor of the Harper Student Center at 45 Courtenay Drive and can be reached by telephone at 843-792-6709. Mr. Joseph Maggitti is the manager of that office. Student Accounting also handles tuition and fees billing. The office hours for Student Accounting are 8:30 am to 5:00pm. You must have your MUSC ID to pick up a check.
Financial aid checks are released to students on their first day of classes. The Colleges submit attendance dates for each program at MUSC, and this information is used to develop a schedule to release funds. MUSC students now have the option of receiving a paper refund check or having the funds electronically transmitted to their bank account.
How long does it take to process my student loan application?
It takes approximately 10 to 15 business days to process a student loan request once your application is complete. However, it may take some additional time once the financial aid office has completed their process for the Student Accounting Office to draw down funds electronically, print a paper refund check, or transmit the funds to your personal bank account.
Do I need to report my parents’ information on the Free Application for Federal Student Aid (FAFSA)?
Only dependent students are required to complete the parents’ section of the FAFSA and provide a signed copy of their federal income tax return. For federal financial aid, a dependent student is defined as follow:
1. Born after January 1, 1982
An independent student must meet one of following criteria:
1. Born before January 1, 1982
These criteria can be found in Step Three of the FAFSA.
Am I eligible for the LIFE Scholarship and How do I apply for the LIFE Scholarship?
The LIFE Scholarship is a program administered by the South Carolina Commission on High Education (CHE). Students must meet certain requirements to be eligible for the LIFE Scholarship. For additional information on the LIFE Scholarship and other State resources, visit the South Carolina Commission on High Education at http://www.che400.state.sc.us/StudentServices/LIFE/LIFESchHome.htm
Resident of the State of South Carolina
There is no separate application for the LIFE Scholarship. Each school year, the Financial Aid Office reviews student academic records with the assistance of the Office of Enrollment Services to identify those eligible students. Those students who eligible for the LIFE Scholarship are notify by mail to complete a LIFE Scholarship Affidavit.
What scholarships are available at MUSC?
Each of the Colleges at MUSC has it own scholarship committee.
For scholarship opportunities outside of the University, or other helpful
financial aid information, go to the MUSC homepage at www.musc.edu,
click on Student Resources, and look under the heading Financial Aid.