How to Apply
Financial Aid

 

 


FAFSA Changes for 2017-2018


Starting with the 2017­-2018 FAFSA, the following changes have been put in place:

  • Students are now able to submit a FAFSA earlier. Students have been able to file a 2017-2018 FAFSA since October 1, 2016, rather than beginning on January 1, 2017. The earlier submission date is a permanent change, enabling students to complete and submit a FAFSA as early as Oct. 1 every year.
    • PCOM's scholarship consideration deadline will still remain as March 15 each year.
  • Students now report earlier income information. Beginning with the 2017-2018 FAFSA, students are required to report income information from an earlier tax year. For the 2017-2018 FAFSA, students (and parents, if applicable) must report their 2015 income information, rather than their 2016 income information.

Full details regarding the new FAFSA changes are available on the Federal Student Aid website:

READ MORE
 
     

 

What are the eligibility requirements for financial aid?

In order to be considered for the majority of PCOM's financial aid resources and federal student loans, you must complete the Free Application for Federal Student Aid (FAFSA).

The basic eligibility criteria are:

View the Department of Education's complete list of eligibility criteria for federal student aid.

Where do I view financial aid information?

Nucleus is PCOM’s online communication center for students. Your Financial Aid Checklist within Nucleus is your central hub for financial aid information. Use your Financial Aid Checklist within Nucleus to complete outstanding requirements, accept your financial aid awards, and view your estimated cost of attendance.

How do I access the Financial Aid Checklist?

To access your Financial Aid Checklist:

  • Login to Nucleus.
    • Note: New students will receive their Nucleus login name and password via email within a couple weeks after confirming your acceptance with the PCOM Admissions Office by submitting your first tuition deposit.
  • Click on the “Resources for Students” tab.
  • Scroll down to the "Financial Aid" section in the right-hand column.
  • Under the "Financial Aid Checklist" heading, you will see a link instructing you to "Click here to view your financial aid checklist."
    • If prompted for additional login information when you click the link, your User ID is your Banner ID # (900XXXXXX) and your PIN is your birthdate in 6-digit format (MMDDYY).
  • You will now be looking at the Banner Self-Service section. Click the "Financial Aid" tab.
  • Select the appropriate academic year.
  • You will now be viewing your Financial Aid Checklist.

What is the timeline for applying for financial aid?

Use the timeline below as a general guide for completing financial aid requirements.

  • October 1 through February 1 - Complete the 2017-2018 Free Application for Federal Student Aid (FAFSA).
    • NEW! Starting with the 2017-2018 FAFSA, the following changes have been put in place:
      1. Students are now able to submit a FAFSA earlier. The FAFSA became available at www.fafsa.ed.gov on October 1, 2016, rather than beginning on January 1, 2017.
      2. Students now report earlier income information. Beginning with the 2017-2018 FAFSA, students are required to report income information from an earlier tax year. On the 2017-2018 FAFSA, students (and parents, as appropriate) must report their 2015 income information, rather than their 2016 income information. Full details on the new FAFSA changes can be read about here.
    • Our office strongly encourages you to use the IRS Data Retrieval Tool (DRT) on the FAFSA to import your and (if applicable) your parents’ tax 2015 tax information. This tool will minimize additional documents our office might request.
  • February 15 - Visit the “Needed Documents” section within your Financial Aid Checklist to review any outstanding requirements.
  • March 15 - You must have three major requirements completed by March 15 in order to have priority consideration for PCOM's financial need and endowed scholarships:
    1. FAFSA.
    2. PCOM Scholarship Application (within your Financial Aid Checklist in Nucleus).
    3. Any additional outstanding requirements (as described within your Financial Aid Checklist in Nucleus).
  • April 14 - Around April 14 our office will award your initial financial aid package. (View the financial aid package section below for more information.)
  • May 1 - If borrowing federal student loans, finalize your remaining requirements. (View the federal student loan requirements section below for further details.)

How do I apply for the FAFSA?

  • If you have never applied for financial aid before, you must first create a Federal Student Aid ID (FSA ID):
    1. Visit https://fsaid.ed.gov
    2. Click the "Create an FSA ID" tab.
    3. Follow the instructions and complete all required fields on each page.
      • Make sure you list your name and contact information as it listed with the Social Security Administration (SSA).
      • After creating your FSA ID, you will have limited access to certain applications (you will not be able to complete the FAFSA) until your information is verified with the Social Security Administration (SSA). A later email will be sent to you from FSA ID notifying you of the SSA verification results. This usually takes 1-2 weeks.
  • Then complete the 2017-2018 Free Application for Federal Student Aid (FAFSA). Students who wish to be considered for federal student loans and PCOM’s financial need scholarships must complete the FAFSA:
    • Visit https://fafsa.ed.gov
    • Click the "Start A New FAFSA" button. Login with your FSA ID.
    • Follow the instructions and complete all required fields on each page.

Important notes when completing the FAFSA:

  • PCOM’s school code is 015979. Both PCOM and GA-PCOM students use this code.
  • Make sure you list your name and contact information as it listed with the Social Security Administration (SSA).
  • Make sure you correctly select your grade level as a graduate/professional student.
  • Our office strongly encourages you to use the IRS Data Retrieval Tool (DRT) on the FAFSA to import your and (if applicable) your parents’ tax information. This tool will minimize additional documents our office might request.
  • If you wish to be considered for PCOM's financial need scholarships, you are REQUIRED to post your parent information on the FAFSA if you are age 26 and younger as of December 31, 2016. If you are 27 or older as of January 1, 2017, parent information is NOT required on the FAFSA to be considered for PCOM's financial need scholarships. Parent information is not required on the FAFSA for consideration of federal student loans.
    • As a graduate/professional student, the FAFSA will inform you that you are an independent student and do not need to record your parental income information on the FAFSA. However, as stated above, it is PCOM policy that you must record your parental income information on the FAFSA to be considered for PCOM’s financial need scholarships.
    • Parental information is not required on the FAFSA for consideration of federal student loans. Recording your parental income information on the FAFSA will not affect your eligibility for federal student loans and federal work study programs. There is no downside to recording your parental income information on the FAFSA.
    • If your parents have not yet filed their 2015 taxes due to an extension, you can use estimated values to complete the FAFSA.
  • Be sure to click the final "Submit" button to fully submit your FAFSA.
  • It will take several days for your FAFSA to be processed by Federal Student Aid. It will then take 1-2 weeks for your FAFSA to be imported into PCOM's system and show as completed on your Financial Aid Checklist.
    • Note that our office will begin importing students' 2017-2018 FAFSA data into our system in January 2017.

What are the scholarship consideration requirements?

You must have three major requirements completed by March 15 in order to have priority consideration for PCOM's financial need and endowed scholarships:

  1. DUE: FAFSA for consideration for PCOM's financial need scholarships and federal loans.
  2. DUE: PCOM Scholarship Application on your Nucleus Financial Aid Checklist for consideration for PCOM's endowed scholarships.
  3. DUE: Review any potential missing requirements in the "Needed Documents" section within your Financial Aid Checklist.

*The March 15 date is for students admitted to their PCOM program prior to February 15. For students admitted to their PCOM program after February 15, refer to your Financial Aid Checklist within Nucleus to view your specific Scholarship Consideration Deadline for the FAFSA and PCOM Scholarship Application.

When and how will I receive details regarding my financial aid package?

Around April 14 our office will award your initial financial aid package. You will receive an automated email from our office that will encourage you to:

    • Complete a Budgeting Worksheet to determine how much you may need to borrow in student loans for school & living expenses.
    • Visit the "Award Summary" section within your Financial Aid Checklist to accept or decline your awarded loans and other aid.
    • Visit the "Needed Documents" section within your Financial Aid Checklist to review any outstanding requirements. Be sure to routinely check this section as new requirements may appear when you accept certain aid or complete other requirements.
    • Apply for the federal Graduate PLUS loan (if needed).
      • Note that the 2017-2018 Graduate PLUS loan application is not available on the studentloans.gov website until May 1, 2017!

What do I need to do to finalize my federal Stafford unsubsidized loan requirements?

If borrowing federal student loans, follow the instructions below to finalize your remaining requirements. Your student loans will not disburse to PCOM unless the below requirements are completed:

Federal Direct Stafford Unsubsidized Loan Requirements

  1. Complete Direct Loan Entrance Counseling:
    • Visit https://studentloans.gov and login using your FSA ID.
    • Click "Complete Loan Counseling (Entance, Financial Awareness, Exit)."
    • Click the "START" button beside Entrance Counseling.
    • Follow the instructions and complete all required fields on each page.
    • Upon completion, it will take several business days for your Entrance Counseling to be imported into PCOM's system and show as complete on your Financial Aid Checklist.
  2. Complete the Stafford Unsubsidized Loan Master Promissory Note (MPN):
    • Visit https://studentloans.gov and login using your FSA ID.
    • Click "Complete Loan Agreement (Master Promissory Note)."
    • Click the "START" button beside "MPN for Subsidized/Unsubsidized Loans."
    • Follow the instructions and complete all required fields on each page.
    • Upon completion, it will take several business days for your MPN to be imported into PCOM's system and show as completed on your Financial Aid Checklist.

How do I apply for the federal Graduate PLUS loan?

  1.  Complete the Graduate PLUS loan Master Promissory Note (MPN):
    • Visit https://studentloans.gov and login using your FSA ID.
    • Click "Complete a Master Promissory Note."
    • Click the "START" button beside "PLUS MPN for Graduate/Professional Students."
    • Follow the instructions and complete all required fields on each page.
    • Upon completion, it will take several business days for your MPN to be imported into PCOM's system and show as completed in your Financial Aid Checklist.
  2. Complete the Graduate PLUS Loan Application:
    Note that the 2017-2018 Graduate PLUS Loan Application is not available on the studentloans.gov website until May 1, 2017!
    • Visit https://studentloans.gov and login using your FSA ID.
    • Click "Apply for a Direct PLUS Loan."
    • Click the "START" button beside "Direct PLUS Loan Application for Graduate/Professional Students."
    • Follow the instructions and complete all required fields:
      • Choose "2017-2018" as the Award Year.
      • Choose if you approve "Authorization for School to Use Loan Funds to Satisfy Other Charges."
        • Our office recommends selecting this option so your PLUS loan funds can pay toward miscellaneous PCOM fees, but this is up to you.
      • Choose "PENNSYLVANIA" or "GEORGIA" for your appropriate state.
      • Choose "PHILADELPHIA COLLEGE OF OSTEOPATHIC" as the school.
      • Specify your PLUS loan amount for the 2017-2018 academic year.
        • NEW! We have created Budgeting Worksheets to help you determine how much loan you may need to borrow.
        • Do not select "I want to borrow the maximum Direct PLUS Loan amount for which I am eligible."
        • Do not select "I do not know the amount I want to borrow."
      • The Requested Loan Period Start and End Dates are equal to your approximate enrollment at PCOM for the 2017-2018 academic year.
        • For example, 1st- and 2nd-year DO students should select August 2017 through May 2018.
    • Upon completion, it will take several business days for your PLUS loan request to be processed by our office and show as part of your Award Summary in your Financial Aid Checklist.