- What is the cost for tuition?
The cost for tuition for the 2014-2015 school year is $47,154 for third and fourth-year students, $49,837 for first and second-year students. The state of Wisconsin will provide Wisconsin residents a capitation credit of approximately $5,000 which will be applied toward tuition for the 2014-2015 academic year. The Capitation amount is an estimate based upon Wisconsin resident enrollment and is subject to change each academic year.
- How do I become a Wisconsin resident?
The Higher Education Aids Board makes all decisions regarding becoming a Wisconsin resident. The residency determination form can be found on the Admission's Website.
- How is institutional aid awarded?
Institutional aid is divided among students with the greatest financial need, who make the deadline. Included in the financial need calculation is total debt (undergraduate and MCW debt) and total resources. The deadline for applying for institutional aid for the 2014-2015 school year for continuing students is March 6, 2014 and you must have a completed FAFSA including parental information, Financial Aid Application, Parental Assistance Worksheet and a signed copy of your 2013 Federal Income tax return in our office on or before that date. The Parental Assistance Worksheet must be completed and signed by your parents. Institutional aid is awarded to the neediest students first.
- Who do I contact for questions about my bill or for an emergency loan?
You need to contact Jean Sunby in the Student Accounts Office. Her phone # is: 414-955-8233. Her email address is: firstname.lastname@example.org.
- Do I need to complete the Stafford, Grad Plus, Perkins entrance interview?
All students who want to borrow financial aid must complete all three entrance interviews.
- How is my financial aid budget determined?
The Financial Aid Office is under Federal regulations when it comes to developing a student budget. We obtain budget information from surrounding colleges, check with the bookstore and faculty regarding required books and equipment as well as rent charged by landlords in the area. Every year we conduct a Financial Aid Budget Survey of the students and we review this information to determine if budget allowances need to be adjusted.
- How do I find out how much I have borrowed, including interest, since I have started at MCW?
To view your loans online, go to the National Student Loan Data System. You will need your FAFSA pin number.
- I have borrowed my full eligibility in loans, but I still need more money. What options are available for me?
If you have extenuating financial circumstances, you need to bring this to the attention of the Financial Aid Office. You should also try to reduce yours costs and/or seek financial help from parents or relatives.
- When is my credit report due?
Your credit report due date will be sent to you in a letter of acceptance sent by the Admissions Department. We recommend ordering your credit report as soon as you have interviewed, even if you have not received this letter yet.
- Where can I get a loan deferment form to defer my loans?
You must get a deferment form from the holder of your loans. Most servicers have the form available to download from their web site. The Office of the Registrar at the Medical College of Wisconsin will complete the form and send it to the holder of your loan.
- My parents are not sure if they will be claiming me on their taxes, is there anything I need to do regarding their information for the Financial Aid Office?
At this level, you are considered an independent student, regardless of whether your parents claim you as a dependent for tax purposes. If your parents will be contributing any money towards your tuition or living expenses, you are required to report that amount to us on the Financial Aid Application. If you wish to be considered for institutional aid, you will need your parents to complete and sign the Parental Assistance Worksheet and include parent's information on the FAFSA.
- When can I expect my money for living expenses?
For the 2014-2015 school year, first disbursement of financial aid funds will be as follows:
Funds for living expenses will be delivered via direct deposit. Please make sure you have entered your bank information on the student portal.
Actual disbursement dates will vary depending on your bank. Listed below are the earliest potential dates your funds could arrive:
Fall disbursement: early July for M-3 and M-4 students, first day of classes for M-2 students, and during orientation week for M-1 students.
Spring disbursement: first week of January for all classes, with the earliest potential disbursement being the day classes resume for each class.
In order to receive the full amount of money you are eligible to receive, you must have accepted your initial offering via Net Partner and, if you are requesting more than $20,000 in Stafford Loan funds, you must schedule and attend an appointment with a financial aid counselor.
In order for incoming students to receive funds during orientation week, you must have completed your master promissory note and Stafford, Perkins and Grad PLUS entrance interviews.