MD - Scholarships & Funding | School of Medicine

The Office of Financial Aid at the School of Medicine is dedicated to offering financial support to both prospective and current MD students. We encourage you to explore the various aid programs available at UofL to become a knowledgeable borrower. It is crucial for students and their families to stay informed and choose the best financing options for their medical education. This website aims to guide you through the process of securing financial assistance and to provide helpful information.

Feel free to contact or visit the office at any time.

Financial Aid Resources

The following steps will help assist you in completing and understanding the financial aid process. Each step will provide you with information and resources to help where you are in the process.

Step 1: Complete the FAFSA - renew the FAFSA each year you plan to use aid.

Apply for FSA ID, if you do not have one, this will be your login information for studentaid.gov.
University of Louisville's school code is 001999

The FAFSA will request "prior prior" year tax information. Example, 25-26 FAFSA will request 2023 tax info.

Step 2: Complete on www.studentaid.gov:

Master Promissory Note(s), or MPNs
- MPN for Unsubsidized Loan
- MPN for the Grad PLUS Loan
Loan Entrance Counseling, or EC - As a Professional Student

Students must complete the MPN and EC before loans can be disbursed. These agreements cover loan repayment and provide counseling on managing loans during and after school. There are separate MPNs for the Unsub and Grad PLUS loans, complete both if you plan to use both loans. If you have previous loans, your MPNs may still be valid for up to 10 years.

Step 3: Establish Your Refund Method:
The University of Louisville uses Nelnet for student refund payments. Residual funds can be deposited via ACH transfer to a checking or savings account, or to a reloadable debit card. The School of Medicine recommends ACH transfer to your checking account. Create an account with Nelnet and enroll in a refund method to receive future refunds.

Signing Up Via ULink

**Disable Pop-up Blockers**

Log in to the Student Portal via ULink
Click on the Financial Account Tile
In Financial Account tile click Nelnet icon labeled “Student Refunding.” This will direct you to the Nelnet site.
On your first visit, follow the prompts to Create an Account with Nelnet.
After creating an account, select “Manage Refunds” to Enroll in a Refund Method and provide necessary information.
Your refund will then be sent using the option you selected. Direct Deposit (3-5 business days)

Step 4: Verification
We receive the results of your FAFSA application electronically. In some cases, the U.S. Department of Education requires us to collect additional information from you. This may be to resolve conflicting information on your FAFSA, if you were selected for verification, or possibly to verify citizenship.

We will notify you by your UofL email (or mail if no email is on file) if additional information is required to complete your application.

*In most cases, the requested documents will be available on your ULink To Do List.

Step 5: Award Notification
Once your financial aid file is complete and you are admitted to ULSOM, your eligibility for federal student aid will be reviewed. Federal award notifications are emailed from late May to mid-June, including any UofL scholarships offered by Admissions. Awards assume full-time status (10 credit hours). Your notification will direct you to ULink to review, accept, reduce, or decline your financial aid awards. Acceptance is not required for scholarships. You can refer to the ULink Tutorials for assistance in accepting your aid.

Order of Accepting Loans

Primary Care Loan or Loan for Disadvantaged Students (Offered later, not initially)
Direct Unsub Loan
Direct Additional Unsub Loan (Professional Students only)
Direct Grad PLUS Loan

Step 6: Billing
Billing is handled by the Bursar's Office. They will place dues dates for each semester on their web page. For more information on billing, visit the Bursar's Office website. At any time, you can view your updated bill and anticipated financial aid on ULink*.

It is important that your bill be settled by the due date each semester. It is important that you have enough financial aid (also called anticipated aid) on your bill with the Bursar's Office for the appropriate semester. Financial aid disburses at various times according to regulations, processing guidelines and methods.

Step 7: Loan Disbursement and Refunds

Fall and Spring Aid Disbursement

Once the Student Financial Aid Office completes a final review of your eligibility, we will disburse all available financial aid funds to the Bursar's Office. The Bursar's Office will the post that aid to your account. Disbursed financial aid that exceeds your balance owed the university is considered residual funds. Subsequent disbursements of available financial aid to the Bursar's Office are scheduled to occur at least twice a week.

Questions?

Please contact University of Louisville's Bursar's Office if you have any questions regarding setting up your refund method at 502-852-6503 or bursar@louisville.edu.

Step 8: Maintain Eligibility
Students need to review the Satisfactory Academic Progress (SAP) policy. The Student Financial Aid Office is required to review academic progress each year.

I. Financing Your Medical Education – 3 Steps

Estimate Costs
Evaluate Financial Resources
Obtain Financial Assistance needed.

1. Estimate Costs

Fixed Costs:

School Costs:

Technology Fee, Recreation Fee, Books & Supplies (not billed), HSC Health Fee, Health Insurance (May be waived w/ proof of insurance), Disability Insurance (Fall only)

Personal Costs:

Apt. Rental/Mortgage Payment, Rental Insurance/Home Insurance, Life Insurance, Property Taxes (Car, home, etc.), Start-up costs (deposits for Apt. & Utilities), Auto Payment & Insurance (Note: cannot be included in Federal COA), Transportation expenses

Variable Costs:

Food, Clothes, Household supplies, Parking, Recreation, Toiletries/Cosmetics, Haircuts, Laundry, Gas, Utilities, Etc.

Be aware that the Financial Aid Office bases their budgets on:

The consumer price index or actual rate of Inflation
Provides a basic standard of living
Expenses for student only, does not include expenses for spouse or children
Based on surveys of reasonable Apt. rental in the area & College Board figures

2. Consider Financial Resources

Family Resources:

Students & their families must assume primary responsibility for financing their medical education
Spouse's income
Parental help, if possible (or required for some aid types)
Grandparents

Other Resources: Private Funding & Outside Scholarships

Selection criteria for awards may be based on:

Parent's Occupations
Geographic Location
Specialty
Fraternal Affiliation
Academic
Need Based
Service Commitment
Etc.

*Be cautious about scholarship search companies, make sure they are legit companies.

3. Obtain Financial Assistance

Student Loans: What you need to know:

The max amount you can borrow per loan type and COA (per academic year)

M1 Year: $20,500 in Unsubsidized and $22,222 in Additional Unsubsidized
The max aggregate loan limits of the Direct Subsidized (undergrad) & Unsubsidized Loans
The interest rate and capitalization policy
Direct Unsubsidized & Grad/PLUS Loans accrue interest while you are in school
Loan Fees taken out, prior to disbursement
The Grace Period, if any (6 months for Direct Subsidized & Unsubsidized Loans)
Repayment Options: Standard, Extended, Graduated, ICR, IBR, PAYE
Forgiveness Options: PSLF, NHSC Loan Repayment Programs, NHSC Students 2 Service & Military
No Early payoff penalty
Residency Forbearance during Residency and possible Deferment Options

Some Helpful hints…Keep Financial Aid Records!

Copies of Loan Master Promissory Notes - MPN (You will sign online)
Any correspondence from your loan servicer as well as the SOM Financial Aid Office
Create a folder for each academic year

II. PLANNING & BUDGETING for M1 Year

1. Planning - You must plan on a fixed budget & the actual dollars you will have each academic year.

2. Budgeting

Be aware of the money coming in and how long it needs to last you.
- Each semester refund should last 6 months (to account for 12-month calendar year)
- Avoid borrowing from outside sources and creating another monthly bill.

Becoming Familiar with the Mechanics of a Budget

Creating a realistic budget and referring to it consistently is helpful. Adjust it as needed.
List your sources of financial assistance (savings, scholarships, family and loans)
List all your fixed expenses. Fixed expenses are monthly or yearly commitments that are unavoidable and usually unchanging in amount.
List all your variable or day to day expenses. Variable expenses are those that occur in different amounts and may not occur with regularity.
Track every penny you spend for 2 weeks to see your priorities and spending habits. You'll likely be surprised at how quickly small expenses add up.

Make a Budget Worksheet:

Example: If your Cost of Attendance (COA) is $79,586 (25-26 KY Resident) & you choose to accept all Federal Loans offered & have zero scholarships, then…

AID TYPE GROSS Loans NET Loans

Direct Unsubsidized $20,500 $20,283 (less loan fees, 1.057%)

Additional Unsubsidized $22,222 $21,988 (less loan fees, 1.057%)

Direct PLUS $36,464 $34,922 (less loan fees, 4.228%)

TOTAL AID (UP TO COA) $79,186 $77,193

Less Tuition (R) -47,406

Less Health Insurance (can be waived) -$3,219

Less Health Fee -105

Less Technology Fee -1,250

Less Recreation Fee -196

Less Disability Insurance Fee -55

$24,962 Total Refund left for living expenses.

$24,962 Living expenses / 12 Months = $2,080 Per Month

Any scholarship received would have directly lowered loan eligibility, or loans refunded if received later. Make sure to budget for full year of living if needed and not just 10-month academic year (6-Months for fall and 6-months for spring)!

Section 1: Eligibility Requirements
Eligibility for most programs is listed here. You must meet the following requirements:

Be a U.S. citizen or an eligible non-citizen with a valid Social Security Number.
Be working toward an eligible degree or certificate.
Be enrolled or accepted to enroll on at least a half-time basis.
Not be in default on any federal education or loan or owe a refund on any federal grant.
Be in good academic standing and maintain satisfactory academic progress.
Have not borrowed in excess of loan limits.
Have financial need as determined from the information you provide on the FAFSA.
Show you’re qualified to obtain a college or career school education.

Section 2: Student Responsibilities
This publication applies to all students attending the University of Louisville.

You are responsible for familiarizing yourself with the information contained in this publication. The following list contains essential student responsibilities:

Monitoring your mail and your official UofL email account for correspondence, particularly from the Medical Student Financial Aid Office, Bursar's Office, Medical Student Affairs Office and School of Medicine Office of Admissions.
Responding to our requests for additional information. Accessing your Ulink account when notified by the Medical Student Financial Aid Office and regularly checking your To Do List.
Monitoring your financial aid and bill on your ULink account.

Please notify the Medical Student Financial Aid Office of the following:

All estimated and actual financial assistance from both university and non-university sources.
Changes or errors in your enrollment, career, residency, or academic program with the Registrar's Office or Office of Admissions
Errors on our Free Application for Federal Student Aid (FAFSA).
Changes in your financial situation since filing the FAFSA and unique circumstances not reflected on the FAFSA.
If you have defaulted, filed bankruptcy, or filed for disability discharge on a federal student loan, or you are in the process of filing bankruptcy on an educational loan.
If you have been awarded or disbursed federal or state aid at an institution other than the University of Louisville.
If you attend less than full-time.

Section 3: Student Rights
As a recipient of financial aid, there are certain rights of which students should be aware.

Students have the right to know:

Financial aid programs available at the University of Louisville, including how a student applies for student aid.
Criteria used to select recipients and calculate needs.
Cost of attendance, UofL refund, return of Title IV funds and withdrawal policy.
Academic programs offered.
Accreditation status.
Student retention and completion data.
Policies surrounding satisfactory academic progress
Special facilities and services available for the handicapped.
Campus security statistics and crime prevention programs.
Rights under FERPA

Section 4: ULink
ULink is a UofL website designed for students. Access to this website is available once you are admitted to the ULSOM. The Medical Student Financial Aid Office will notify you when you need to access this website for financial aid purposes. If you have difficulty with accessing ULink or setting up your password, please contact the Help Desk at (502) 852-7997 or helpdesk@louisville.edu.

Section 5: Satisfactory Academic Progress
University of Louisville School of Medicine Satisfactory Academic Progress Policy

Medical students are considered to be making Satisfactory Academic Progress and are eligible to receive federal financial aid as long as they are allowed 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 course 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 considering to be making Satisfactory Academic Progress 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.

Section 6: Return of Title IV Financial Aid
Federal guidelines specify how the University of Louisville must determine the amount of Federal Title IV program assistance you (the student) can earn if you withdraw from school. The Title IV programs covered under these guidelines are the Federal Direct Stafford Loans (unsubsidized and subsidized), Federal Perkins Loans, Federal Direct PLUS Loans (Graduate and Parent), Federal Pell Grant, Iraq Afghanistan Service Grant, Federal Supplemental Education Opportunity Grant (FSEOG), and Teach Grant. If you withdraw from the University of Louisville, the school, you, or both parties may be required to return some or all of the federal funds awarded to you for the semester.

Section 7: All 'F' Grade Recipients

If you receive all ‘F’ grades, UofL is required to comply with the federal Title IV Refund Policy (R2T4), as well as the Satisfactory Academic Progress Policy. When federal financial aid either partially or fully pays educational expenses and you receive all ‘F’ grades, the Financial Aid Office (FAO) must, by federal regulations, comply with the Title IV Refund Policy.

Section 8: Exit Counseling

For Direct loans, after you have applied for graduation or have dropped below half-time for the fall and spring semesters, the Medical Student Financial Aid Office will send you information on how to complete Federal Loan Exit Counseling. This is a requirement for student borrowers and updates contact information with your lender. Please note that you are responsible for repayment whether or not you complete Exit Counseling.

For other loans you may borrow, your loan servicers will notify you of loan exit counseling requirements.

Loan Repayment Options

Section 9: Statement of Non-Discrimination

The University of Louisville is an equal opportunity institution in both education and employment. The university strives to foster an environment of inclusiveness that empowers us all to achieve our highest potential without fear of prejudice or bias.

We commit ourselves to building an exemplary educational community that offers a nurturing and challenging intellectual climate, a respect for the spectrum of human diversity and a genuine understanding of the many differences - including race, ethnicity, gender, gender identity, sexual orientation, age, socio-economic status, disability, religion, national origin or military status – that enrich a vibrant metropolitan research university. We expect every member of our academic family to embrace the underlying values of this vision and to demonstrate a strong commitment to attracting, retaining and supporting students, faculty and staff who reflect the diversity of our larger society.

The university is committed to complying with all applicable laws and government regulations at the federal, state and local levels and any university policies which prohibit discrimination in education, including, but not limited to, Title VI and Title VII of the Civil Rights Act of 1964, Title IX of the Education Amendments of 1972, Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990.

Section 10: Additional Consumer Information

The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates the university provide students and other interested parties with a significant amount of institutional information on a variety of topics designed to better inform the general public and students enrolled at this institution. Additional required consumer information is maintained by Institutional Research and is available on the IR website: https://louisville.edu/financialaid/consumer-information

The Direct Loan Program is when eligible students borrow directly from the federal government. Direct Loans include Unsubsidized Direct Loans, Direct Graduate/Professional PLUS Loans and Direct Consolidation Loans. You repay these loans directly to the U.S. Department of Education.

Effective July 1, 2012, there are no longer Direct Subsidized Stafford loans for Graduate/Professional students.

Federal Direct Loan Information

Direct Unsubsidized Loans

Direct Unsubsidized Loans are not based on financial need. However, your award cannot exceed your cost of attendance.
You are charged interest on a Direct Unsubsidized Loan while you are in school or other nonpayment period. You can pay the interest during those times, or you can have it added to your principal (capitalized).
Depending on need, loan limits and year in school, the maximum amount of the Direct Unsubsidized Loan you can receive each year of medical school ranges from $42,722 to $47,167.

General Direct Loan Information

The maximum aggregate amount of Direct Unsubsidized Loans you can receive each year of medical school is $42,722 for M1, $44,944 for M2, $47,167 for M3 and $42,722 for M4.
The Yearly amount you are awarded is determined by the length of the academic year and any other aid you are awarded (ex. scholarship).
You will be awarded the full Unsubsidized Loan amount unless you are at the aggregate limit of $224,000 or have other aid up to the Cost of Attendance.
The maximum aggregate amount of Direct Subsidized Loans and Direct Unsubsidized Loans combined you can receive as a student, including undergraduate, graduate and professional school, is $224,000.
Repayment on all Direct Loans begin six months (grace period) after you graduate or drop below half-time status.

Federal Direct Grad PLUS Loan

The maximum amount of Grad PLUS Loans you can receive is the cost of attendance minus all other aid received (Direct Unsubsidized, scholarships, etc.).
You do not have to apply separately on studentaid.gov, UofL will process credit decisions once accepted on ULink automatically.
The Grad PLUS Loan is awarded only after all Direct Loan eligibility is awarded.
You are charged interest on Grad PLUS Loans while you are in school.
Repayment on all Grad PLUS Loans begins 60 days after the loan is fully disbursed. However, a student can request an in-school deferment.

Interest Rates and Fees for Federal Loans :

New fixed interest rates listed below will apply for the life of the federal loans issued

Year	Direct Unsubsidized Loans	Direct Grad/PLUS Loans
7/1/25-6/30/26	7.94% (Fees 1.057%)	8.94% (fees 4.228%)
7/1/24-6/30/25	8.08% (Fees 1.057%)	9.08% (Fees 4.228%)
7/1/23-6/30/24	7.05% (Fees 1.057%)	8.05% (Fees 4.228%)
7/1/22-6/30/23	6.54% (Fees 1.057%)	7.54% (Fees 4.228%)
7/1/21-6/30/22	5.28% (Fees 1.057%)	6.28% (Fees 4.228%)

Preparing for Loan Repayment

1. Know your servicer, you can access at studentaid.gov under your dashboard, or call Student Aid at 800-433-3243

2. Make sure your contact information is up to date on studentaid.gov

3. Review and choose a payment plan that works for you, you can apply trough your servicer or on studentaid.gov.

4. Sign up for auto debit and receive a .25% interest rate deduction (see your servicer for this)

Federal Student Aid Payment Plans

Other Repayment Options:

Primary Care Loan or Loan for Disadvantaged Students Information

Qualifications

Provide financial information for parents.
Be enrolled fulltime in a degree earning a Doctor of Medicine or Doctor of Osteopathy.
Be a United States citizen or eligible non-citizen.
Demonstrate financial need – determined by the financial aid office.
Maintain academic standing.
Be registered with Selective Services.
Not be defaulted in federal student loans or owe money towards a federal grant refund.

*The department of Health and Human Services require parental information to determine need.

Primary Care Loan

The PCL loan program is a low-cost federal loan program with an interest rate of 5%. This loan does require student to commit to a primary health care practice, as well as residency that must be completed within 4 years of graduation, with a total commitment time of 10 years.

Repayment

Repayment starts after a 12-month grace period following a drop from fulltime enrollment.
The 5% interest starts to accrue (on the principal balance) after the grace period unless you are eligible to defer the payment.
Eligible for deferment.
Up to 4 years in eligible residency program (primary care).
Up to 3 years as volunteer under the Peace Corps Act (practicing in primary care)
Up to 3 years in full-time active-duty military (practicing in primary care)
For periods of advance training in primary care.
At the discretion of the institution, loan terms will be set at no less than 10 years and no more than 25 years.
The PCL loan is NOT eligible for federal loan consolidation due to the service obligation.
PCL is NOT eligible for federal repayment options.
PCL borrowers are not eligible for Public Service Loan Forgiveness, National Health Service Corps Loan Repayment or Indian Health Service Loan Repayment.

Service Obligation

Residency must be complete in a training program in family medicine, general internal medicine, general pediatrics, combined medicine/pediatrics, preventative medicine or osteopathic general practice.
Your residency program must be completed within four years of graduation.
PCL borrowers are to complete their residency and practice in primary health care for 10 years (years in residency are included) or through the date the loan is repaid, whichever is first.
If you do not complete your service obligation, the outstanding balance of your loan will start to accrue interest at a 7% interest rate from the date of noncompliance.

Loan for Disadvantaged Students

The LDS loan is a subsidized fixed rate loan of 5%. Awards are determined during spring semesters, with limited funding made available through the U.S. Department of Health and Human Services (DHHS). The purpose of this loan is to provide funding with low interest rates to students who are considered in need. A students need is determined by the SOM Financial Aid office by using information provided on the FAFSA for students and information provided to the office for parents.

Repaying the LDS loan

Repayment starts after a 12-month grace period following a drop of fulltime enrollment.
The 5% interest starts to accrue (on the principal balance) after the grace period unless you are eligible to defer the payment.
Eligible to defer while in medical residency.
At the discretion of the institution, loan terms will be set at no less than 10 years and no more than 25 years.
The LDS loan IS eligible to consolidate with the Federal Loan Consolidation.

Do I need to fill out the FAFSA every year?
- Yes, you will need to fill out a FAFSA each year in order to receive federal aid. The FAFSA opens each year on October 1^st. There is no priority for graduate students, so just make sure it is filled out by March 15^th in order to be awarded on time. You will use "prior-prior" financial data to submit the FAFSA.
What is the Data Retrieval Tool?

The IRS Data Retrieval Tool (IRS DRT) has been replaced by the FUTURE Act Direct Data Exchange (FA-DDX). This is to make the FAFSA process easier to navigate and complete.
- The FA-DDX is a more secure and streamlined process that allows the Department of Education to obtain federal tax information directly from the IRS. This means that instead of manually entering tax information or using the old DRT, applicants will give consent for the Department of Education to retrieve their information via the FA-DDX.

Here's how it works:

Consent is required: All contributors (student, spouse and/or parents) must provide consent and approval for their information to be shared on the FAFSA. If consent and approval are not provided, the student won't be eligible for federal student aid.
Direct data transfer: The FA-DDX will transfer contributors' federal tax information from the IRS directly into the FAFSA form.
No need to self-report: This eliminates the need for most applicants to self-report their income and tax information reported to the IRS.
Information is considered verified: Federal tax information transferred via the FA-DDX to the FAFSA form is considered verified for Title IV purposes, which may reduce the likelihood of verification requests.
Data Masked: Unlike the previous tool, which displayed the data being transferred, with the FA-DDX, for security purposes, you won't see the actual information, but rather a notification stating "Transferred from the IRS".
Where Do I fill out the FAFSA?
- The FAFSA is filled out online at https://studentaid.gov/h/apply-for-aid/fafsa. FAFSA stands for Free Application for Federal Student Aid. Emphasis on FREE, you should never pay money to fill out your application.
What is the University of Louisville’s school code?
- UofL’s school code is 001999. The School of Medicine does not have its own school code, all students attending the University use the same code.
Should I include my parent’s information on the FAFSA?
- As a graduate professional student, you are no longer able to include your parent’s information on the FAFSA (as of the 24-25 FAFSA).
- The only time that we would request the parent’s financial information is if you are trying to pursue a Primary Care Loan (PCL) or a Loan for Disadvantaged Students (LDS). These loans are need-based and require parental data. There is a separate process in which we would consider you for these need based loans.
What is the Primary Care Loan?
- The Primary Care Loan guidelines are written by the federal government and Department of Health and Human Services and they require parental data to be provided to determine eligibility. To be considered for this loan you must be willing to make a commitment that you will practice in the Primary Care field after graduation from medical school. If you are going to pursue the Primary Care Loan, you will want to have your FAFSA filed no later than March 1st.
- The Primary Care Loan (PCL) interest rate is 5 percent and begins to accrue following a one year grace period after you cease to be a full-time student. Repayment begins following a 12-month grace period after you cease to be a full-time student. Interest at 5 percent is computed on the unpaid principal balance and begins to accrue upon expiration of your grace period unless you are eligible to defer payment. Loans are repayable over a period of not less than 10 years nor more than 25 years, at the discretion of the institution.
What is the Loan for Disadvantaged Students?
- The Loan for Disadvantaged Students (LDS) guidelines are written by the federal government and Department of Health and Human Services and they require parental data to be provided to determine eligibility. A person from a disadvantaged background is defined as one who comes from an environment that has inhibited the individual from obtaining the knowledge, skill and abilities required to enroll in and graduate from a health professions school, or from a program providing education or training in an allied health profession; or comes from a family with an annual income below a level based on low income thresholds according to family size published by the U.S. If you are going to pursue the Loan for Disadvantaged Students you will want to have your FAFSA filed no later than March 1st.
- The LDS interest rate is 5 percent and begins to accrue following a one year grace period after you cease to be a full-time student. Repayment begins following a 12-month grace period after you cease to be a full-time student. Interest at 5 percent is computed on the unpaid principal balance and begins to accrue upon expiration of your grace period unless you are eligible to defer payment. Loans are repayable over a period of not less than 10 years nor more than 25 years, at the discretion of the institution.
How do I / should I apply for the Direct Grad PLUS loan?
- We use your FAFSA as your application for the Grad PLUS loan, therefore you will not need to apply for it separately. We can award you up to your COA in the Grad PLUS loan. If you choose to accept any portion of the Grad PLUS loan we will then run you through the credit check process. If you are initially denied the Grad PLUS loan there is both an appeal process as well as the option to have a cosigner on that loan.
When do funds disburse?
- Fall Disbursement: M1 and M2 students disburse during the final week of July. M3 and M4 students disburse during the first week of July.
How will I receive my residual funds?
- You will need to create an account with Nelnet and then enroll in a refund method so that you will be prepared to receive any future refunds.
- Log in to the Student Portal via ULink
- Click on the Student Services Tab > Tuition-Fees > Student Refunds
- In Student Center click Nelnet icon labeled “Student Choice Refunds.” This will direct you to the Nelnet site.
- On your first visit, follow the prompts to Create an Account with Nelnet.
- After creating an account, select “Manage Refunds” to Enroll in a Refund Method.
- Fill in the necessary information.
- Your refund will then be sent using the option you selected

Contact UofL Bursar Office at 502-852-6503 or email at Bursar@louisville.edu if you have any further questions regarding residuals.

Scholarships

Below are types of scholarship opportunities available to prospective MD students:

The Medical School Admissions Office will award all UofL scholarships to incoming students based on various categories. The Admissions Office will notify individual students in writing if they are selected for a UofL scholarship.

Please contact the Admissions Office if you have any questions about incoming student scholarships.

Most UofL endowed funds are pooled to offer scholarships from the list below. Thank you to all of our generous endowed donors!

Henry E. Tuley Memorial
Virgil & Della Simpson Scholarship
Dr. E.R. Palmer Memorial
Humana Scholars Fund in Medicine
Hays Threlkeld Memorial
John J. Moren Scholarship
Mattie A. Williams Scholarship Fund
Arthur Y. Ford Memorial
James Y. McCullough Memorial
Frank H. Johnson Endowment Fund
Ruby Jayne Smith Endowment Fund
Dr. Curran Pope Award Fund
E.H. Patterson Student Assistance Fund
Dr. R.R. Elmore Fund
Dr. Robert E. Brennan Scholarship
Ira S. Fink Medical Student Fund
Dr. James H. Pritchett Scholarship
Dr. Stanley E. Smith Medical Scholarship
Dr. Charles & Fanny Bookover Scholarship Fund
Humana Scholars Fund for Seniors in Medicine
Dr. Breen Ratterman Scholarship Fund
Phil B. Fallis Memorial
Hart F. & Rose Litchfield Scholarship Fund
T.M. Wade, Jr. & M.S. Owen Scholarship Fund
Sarchet Medical Scholarship
Ora Marshino Memorial
Dr. Irvin O. Allen Scholarship Fund
Aaron Scholarship Fund
W.G. Ruble, MD Memorial
James Dennis Riehm, MD Medical School Scholarship
Edward R. Meyer, MD Scholarship Fund
Dr. Leonard Leight Scholarship Fund
Dr. J. Everett Moore Scholarship Fund
Worley Scholarship
Dr. R.L. & Virginia Collins Scholarship Fund
Dr. Kong-oo-Goh Memorial Scholarship Fund
Medical Alumni Association Endowed Scholarship Fund
Dr. Harold B. & Audrey W. Graves Scholarship Fund
Lucille Newmark Bequest
Kentucky Colonels Medical Scholarship
June Clymer Medical Scholarship Fund
Dr. & Mrs. Frank P. Miller Memorial Scholarship Fund
Kreps Endowment Fund
Al C. & Anna C. Krebs Scholarship Fund
Humana Scholars Medicine
Salome E. Kerr
Jennie C. Benedict
Dr. A.M. French Memorial Scholarship
Irma Klein Shampain Scholarship
Kentucky Medical Association Alliance Endowment Fund
Lily Banerjee Endowment Fund
Yogesh & Nila Kamdar Scholarship
Norman S. Fisher, MD Scholarship Fund
Phillip E. Kirk, J. Allen Kirk & George W. Kirk SOM Fund
H.W. Stodghill, Jr. & Adele S. Stodghill Scholarship Fund
W. Rufus & Elizabeth S. Hartness Scholarship Fund
H. Tod Smiser Scholarship Fund
Olive/Harris/Stodghill Scholarship Fund
F.W. Fisher, MD Endowment Scholarship
Emery E. Lane Scholarship Fund
Schwartz & Associates Scholarship Fund
Dr. Bradley T. Young Scholarship Fund
Dr. Sandra K. Archibald Scholarship Fund
Dr. Thomas E. Shown Scholarship Fund
SOM Class of 1967 Scholarship Fund
SOM Class of 1985 Scholarship Fund
Robert Pfeiffer Kraft Endowment Scholarship
Gleis Medical Education Fund
Lila & Ellen Oskoui Scholarship Fund
John & Sheryl Downing Scholarship Fund
Marshall Marvin Lawrence Scholarship Fund
Kawthar Suleiman Endowed Scholarship Fund
Ruby Ann Arnsparger Scholarship Fund
SOM Class of 1964 Scholarship Fund
Leo Hoge Endowed Scholarship Fund
Dr. Leon Satran & Alma J. Satran Scholarship Fund
Dr. Dolores G. Alleyne Scholarship Fund
Selman Franzman Scholarship Fund
James V. Allen MD Endowed Scholarship Fund
M.W. Rogers Scholarship Fund
Schwartz & Associates Scholarship Fund
Dr. Samuel and Cheryl Smith Endowed Scholarship Fund

Tuition and Fees Billed	M1 10-Mth	M2 11-Mth	M3 12-Mth	M4 10-Mth
Tuition (R)	$47,406	$47,406	$47,406	$47,406
Tuition (NR)	$72,714	$72,714	$72,714	$72,714
MD Drug Testing Fee (Fall only)	$0	$0	$49	$0
HSC Prof. Health Fee	$105	$105	$105	$105
Medical Technology Fee	$1250	$1250	$1250	$1250
SOM Disability Ins. (Fall only)	$55	$55	$55	$55
Student Recreational Fee	$196	$196	$196	$196
Total KY Resident T&F	$49,012	$49,012	$49,061	$49,012
Total Non-Resident T&F	$74,320	$74,320	$74,369	$74,320

Books, Course Materials, Supplies & Equipment
NB Exams- Step 1 & 2	$0	$680	$680	$0
Residency Applications	$0	$0	$0	$2000
Books, Supplies & Equipment	$1,332	$914	$820	$420
Total:	$1,344	$1,114	$1,500	$2,734

Living Expenses
Food & Housing	$16,282	$17,910	$19,538	$16,282
Transportation	$3,316	$3,648	$3,980	$3,316
Personal Expenses (including Major Medical)	$8,812	$9,692	$10,575	$8,812
Direct Unsub Loan fees	$420	$420	$420	$420
Total:	$28,830	$31,670	$34,513	$28,830
*Major Medical insurance is billed each semester; can be waived with qualifying health plan.
Total KY Resident COA	$79,186	$81,796	$85,074	$80,576
Total Non-Resident COA	$104,494	$107,104	$110,382	$105,884

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