Paying for Your MD
Financial Aid, Scholarship, and Loans
Financial Aid
The Office of Financial Aid is responsible for providing financial assistance information to students enrolled in the School of Medicine. Please take time to read about the individual aid programs offered at UofL to be an informed borrower. The responsibility to remain informed and to select the appropriate methods of financing your medical education lies with the students and their families.
Students needing financial assistance are encouraged to contact the Financial Aid Office to obtain information and current financial aid publications. The formal application period begins October 1. The application priority date is March 15 for the following academic year.
For more information contact:
Office of Student Financial Aid
School of Medicine
University of Louisville
A Building, Suite 205
Louisville, KY 40202
(502) 852-5187 (voice)
(502) 852-5871 (fax)
Online: louisville.edu/medicine/financialaid
Email: lrkael01@louisville.edu
Satisfactory Progress
Medical students are considered to be making Satisfactory Academic Progress (SAP) and are eligible to receive federal financial aid as long as they are allowed to continue to be enrolled in the School of Medicine. All medical students are monitored by the Office of Medical Student Affairs by both qualitative and quantitative measures. Students are reviewed if they fail any courses and/or if they exceed the 6-year rule for completing their degree.
Students who fail to meet the School of Medicine standards must appear before the Student Promotions Committee. The Student Promotions Committee reviews the academic progress of all students with unsatisfactory scholarship, behavior or clinical competence and makes a recommendation to the Dean of the School of Medicine for corrective action or dismissal. All students appearing before the Student Promotions Committee are not considered to be making Satisfactory Academic Progress and are ineligible for federal financial aid. If the Student Promotions Committee recommends to the Dean that the student return to school and the Dean concurs, he/she will be placed on an academic plan outlining what he/she must do to remain enrolled in the School of Medicine. He/she will be on financial aid probation and will be eligible to receive federal financial aid as long as he/she meets the conditions of the plan.
The Medical School Financial Aid Office will be notified of all students appearing before the Student Promotions Committee and the final decision of each student’s hearing.
Scholarships
The Medical School Admissions Office will award all UofL scholarships to incoming students based on various criteria; academic merit, MD/PhD, rural county of residence, need or health equity status. The Admissions Office will notify individual students if they are selected for a UofL scholarship; no application is needed. Most UofL endowed funds are pooled to offer scholarships in the above categories. Please contact the Admissions Office if you have any questions.
For other types of scholarship opportunities available for prospective students, visit the following web page at: louisville.edu/medicine/financialaid/scholarships.
Loans
Beginning in the Fall 2009 semester, UofL began participating in the William D. Ford Direct Loan Program. The Direct Loan Program is when eligible students borrow directly from the federal government. Direct Loans include un-subsidized Direct Stafford Loans, Direct Graduate/Professional PLUS Loans, and Direct Consolidation Loans. Eligible students repay these loans directly to the U.S. Department of Education.
Effective July 1, 2012, there were no longer subsidized Stafford loans for Graduate/Professional students.
For more information about the specific loans referenced above, visit: louisville.edu/medicine/financialaid/loans.
