At UNMC, financial aid awards are driven by the academic scholarship process. Each academic program has a different scholarship award process. The Office of Financial Aid does not determine or award scholarships. The academic programs are solely responsible for this process. Once your academic program has notified our office of their award scholarship sections, we will proceed with finalizing financial aid awards.
Historically, financial aid awards have been finalized as listed below. Anticipate your award letter based on your program affiliation.
College of Medicine: Late May
College of Nursing: Late June
College of Dentistry: Late June
College of Pharmacy: Late June
School of Allied Health: Late June
Graduate Studies: Late July
Grant aid is only offered to Undergraduate students who have not already received a Bachelor’s degree. A Pell Grant is Federal aid that is an entitlement--as long as you complete the FAFSA and all other required verification documentation by the deadline dates, you are eligible for an amount determined by the Department of Education need analysis calculations.
Other grant aid is considered institutional aid and is determined based on financial need, and meeting UNMC, University of NE, and state specific guidelines. (ex: CollegeboundNE is a University of NE program which requires a FAFSA filing deadline of April 1.)
You may be awarded more than one type of loan to help cover your cost of attendance at UNMC. When reviewing these awards on MyRecords
, a detailed description of each type of aid is available by hovering your cursor over the award. If more information is needed for you to make your decision, please visit the Financial Aid page "Types of Aid
" to learn more about the aid you were offered.
Each student’s financial need based multiple on several factors. Awards are determined by the information on the FAFSA, submission of FAFSA before deadlines, program eligibility for awards, resident/non-resident status, unmet need, etc. Comparing award notifications is not a good practice.
Graduate and Professional students are not eligible for Subsidized loans as of 2012.
No, students are encouraged to review their costs, their living expense “needs’ (not wants) and borrow accordingly. We encourage students to develop a monthly budget and stick to that budget. The financial aid refunded to you after tuition and fees are paid can be a sizeable amount if you borrow enough to fund 100% of your living needs. That ‘lump sum’ refund of financial aid must fund your living needs from August to December or January to May. It is critical to establish a budget and live within that budget to ensure your funds last through the semester.
All financial aid must be delivered in ‘even, multiple disbursements’. Generally that means 50% fall and 50% spring. Financial Aid is credited to your Fall and/or Spring tuition and fee account to reduce the cost of your tuition and fees. Credit balances are refunded to students either by check or direct deposit to checking/savings accounts. Credit balances are generally the value the student has borrowed for books and equipment and living expenses for the semester.
You will not receive a monthly stipend for living expenses. If you borrowed financial aid to help cover these costs, you will be given a refund after your UNMC bill is paid. It is then your responsibility to budget your finances throughout the semester.
The date and method of receiving the refund will depend on when you accepted your loans and how you have your account set up. Please view the Student Accounts FAQ
page for more information.
Students are given 14 days from the date of disbursement to reduce or cancel the amount they requested. If after this time you have funds left over, it is recommended that you use that money to make a payment on your loans through your servicer or reduce your aid for the next semester by that amount. Please check the Vital Information
Page regarding deadlines for reducing aid requests.
Yes, declined loans can be re-instated provided other aid has not been received to replace the loan offers. If you are offered a student loan for $5,000, and decline that loan because you are receiving an outside scholarship for $5,000, you may no longer qualify for the $5,000 loan offer when you request it be re-instated.
Once you have registered for classes, the details of your tuition/fee charges will appear on your MyRecords
under the Student Financials tab.
If your program requires you to attend a summer semester (dentistry, physical therapy, etc) your enrollment and cost of attendance was automatically factored into your financial aid was awarded for that term of enrollment. Your summer costs and aid can be found on the SUMMER 2017 tab in the upper right corner of your MyRecords Financial Aid page. If you are not required to take Summer (MSN, DNP, MPH) classes, but have chosen to do so, please contact the Financial Aid Department after you have registered for your summer sessions. The Financial Aid Office must be able to view your credit hours of enrollment in summer sessions to build the cost of attendance and award aid for those summer sessions.
If you do not want aid for the Fall semester, you will need to decline your aid request. Due to federal sequestration regulations, loan aid requests for SPRING only disbursements cannot be processed until after October 1. Send an email to the Financial Aid Office
to request your loan aid be reinstated for SPRING semester only. We will award SPRING only aid and provide you with a new award notification to accept/reduce/decline the reinstated loan offers. Grant/scholarship aid will not be set up on a SPRING only basis.
Yes, UNMC offers a deferred tuition payment plan by making monthly payments through the UNMC Student Accounts Office. Semester tuition and fee balances are required to be paid in full over three months or by the end the semester. Students cannot register for subsequent semesters until the current semester balance is paid in full.
Please visit the FAQ section on the Student Services website for instructions on how to set up a payment plan.
Review your financial aid award screens. Have you ACCEPTED your loan aid offers? The loan process is conducted in conjunction with the Department of Education. Until you ACCEPT your loan offers, the UNMC Financial Aid Office cannot transmit your loan request to the Department of Education. If you completed your MPN, The Department of Education must have a loan request to match up with that MPN. Until both steps are completed, the MPN will stay on your TO DO LIST. If you accepted your aid and did not complete the MPN and Loan Counseling, they will remain on your TO DO LIST until those tasks are completed. The UNMC Financial Aid Office transmits loan requests on Tuesdays and Fridays only. Understanding that, please allow SEVEN (7) days for all file transmissions (loan requests, MPN receipt, loan counseling receipt) to be finalized with The Department of Education.
Generally speaking, to use a 529 account, the student must provide the trust advisor a copy of their tuition/fee statement. This should be done before any financial aid is applied to the student account. Most often these trusts are set up to pay only tuition/fees-once financial aid is applied to the account, the trust may only authorize payment for any outstanding balance. Once you are registered, contact UNMC Student Accounts
and request a copy of your tuition/fee statement be mailed to you or the trust advisory. The account statement will include mailing address and tuition due date information.
If you have been offered federal student loans there may be additional applications and processes to complete. Your Award Notification will direct you to your People Soft Self Service screens to review your additional requirements. A comprehensive tutorial will be provided with your Award Notification to guide you through the process of accepting/declining your awards, completing additional requirements, and familiarizing you with federally mandated financial aid policies and procedures.
No, if you are not requesting loan aid for the year you will not need to complete the Entrance counseling and MPN (Master Promissory Note). However, you must decline the loan aid to ensure the MPN and Loan Entrance Counseling requirements are removed from your MyRecords TO DO LIST.
Loan fees are charged by the Department of Education for ‘originating’ your loan request. These fees subtracted from each loan disbursement. You will not be charged any loan fees if you do not request aid.