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Return to Student Financial Services

Required Steps Special Conditions
Eligibility for Financial Assistance Financial Planning
Student Budget Determination Tuition
Verification

Budgets

Required Steps

Students must be registered at least half-time to receive financial aid. Half time is defined as taking 5 credits each quarter. Financial Aid is available to students who are simultaneously enrolled at KCOM or ASHS. Contact the Student Financial Services at 866-626-2878 Ext. 2529 for further information. All students receiving financial aid, whether through Student Financial Services or other institutions, must notify our office of their status.

The 9 steps required for a student to receive financial assistance are as follows:

  1. The student completes the Free Application for Federal Student Aid (FAFSA) or a Renewal FAFSA by going to www.fafsa.ed.gov and following the instructions on the website. A. T. Still University of Health Sciences school code is G02477.
  2. The Central Processing System (CPS) performs matches and edits, calculates a student contribution, and sends the data back to the processor.
  3. ATSU receives the information electronically (ISIR) within three to five business days.
  4. The student looks over the Student Aid Report (SAR) and, if accurate, keeps it for his/her records. If any corrections are needed, the student contacts the Financial Assistance Office.
  5. Student Financial Services performs verificaiton and then sends an electronic award letter to the student's ATSU email address, along with instructions for completing the loan applications and other required forms.
  6. The student accepts, refuses, or modifies the award letter and submits all required forms to the Financial Assistance Office.
  7. Student Financial Services looks over the required forms and transmits the loan data to Sallie Mae
  8. The lender wires the funds by Electronic Funds Transfer (EFT) to the school or sends the institution a loan check.
  9. If by EFT, all funds will be applied to the student's account. The refund will be directly deposited to the student's bank account if so desired by the student and proper documentation is on file.

Eligibility for Financial Assistance

Eligibility or unmet financial need is determined by subtracting a student's expected contribution from the student budget. The student's expected contribution is listed on the Student Aid Report (SAR) and is based on the student's financial strength. Students may choose to receive financial assistance up to their unmet financial need. For example, if a student's budget is $9,000 and the expected contribution is $5,000, the student's unmet financial need is $4,000. The student may receive financial aid through scholarships, loans, etc., to arrive at this figure. (Note: Students may use the Unsubsidized Federal Stafford Loan or any private loan to replace their expected contribution.)  Every effort will be made to meet the student's need, but in some instances, the student may have to rely on other outside resources. It is of critical importance to be creditworthy, as most private loans require a credit check.

Student Budget Determination

The student expense budget is determined each year by the director of Student Financial Services. Every effort is made to ensure that allowances in each category are realistic and fair. Although the director determines the average student budget, students having credit history difficulties may not be able to borrow the full budgeted amount, due to the private loans being based on creditworthiness.

Verification

Verification is the process by which Student Financial Services checks the accuracy of the information submitted by the student when applying for federal financial aid. It is intended to reduce errors in the financial information that students submit so eligible applicants can receive the correct amount of financial assistance.

ATSU will verify all applicants who are selected for verification from the federally approved edits. If selected, students will need to submit a signed copy of their federal income tax return from the prior calendar year along with a verification worksheet. ATSU will compare the tax return and the verification worksheet to the Institutional Student Information Record (ISIR) to verify required items. Financial aid will not be awarded until the verification is complete.

Special Conditions

Professional judgment allows the Director and Assistant Director the flexibility to handle individual students with extenuating circumstances on a case-by-case basis. This authority is clearly stated in the federal regulations and is used as needed. The adjustments may be made in the cost of attendance, expected family contributions , or satisfactory academic progress.

Although every effort is made to meet a student's financial need, financial assistance is not an entitlement and, in some instances, not all of a student's need will be met.

Financial Planning

Setting Goals

Financing a medical school education is an investment in your future. As a major investment, it should be entered into with conscientious planning. Setting goals and establishing a game plan are essential in order to minimize your debt.

A simple financial plan begins with the establishment of a long-term goal. As an osteopathic student, for example, your long-term goal might be to set up a private practice in your home town. As you plan your strategies to reach this end, keep in mind that your short- and mid-term goals should be consistent with and built upon this long-term goal. To help keep you on track, it is important to develop a budget.

A budget lists all sources of income, as well as all estimated expenditures. To make a budget work for you, keep the following points in mind:

  1. Have a written plan;
  2. Set realistic goals;
  3. Establish priorities;
  4. Keep expenditures below income; and
  5. Stick to your game plan.

It is important for you to determine your needs so that you will borrow only the amount necessary, rather than the amount for which you are eligible. In the end, you may pay back 2-3 times the amount you borrowed. Therefore, the less debt you accrue in school, the more financially secure you will be later. You can live like a student now, or you can live like a student later. The choice is yours.

Tuition

Tuition is due at the beginning of each quarter at SHM. The tuition amount due each quarter is based on the credit hours being taken by the student during that quarter. Tuition may be paid any time during the week that it is due. Delinquent tuition penalties accrue at 1 1/2% per month, which is 18% per year.

Electronic Funds Transfer (EFT) Policy

The Department of Education is encouraging and, at times, requiring educational institutions to become paperless. Therefore, funds received through federal and private loans will normally be transferred electronically to a student's account at ATSU. Students will receive a receipt itemizing the type of loan and amount credited to their account at the institution. Funds electronically transferred above what is owed for tuition and fees will promptly be refunded to the student by check or deposited directly to the student's bank account. (Students that have lenders that do not wire money to ATSU will receive their financial aid through a co-payable check.)

Direct Deposit

Many banks outside of Missouri make students wait 10 business days to tap their loan funds when deposited by check. Therefore, we strongly recommend that all students use direct deposit where ATSU wires money to the student's checking account. This way, the money is available on the day it is wired to the bank.

Direct Deposit Form PDF

Budgets

SHM 1st year student enrolled full-time PDF SHM 1st year student enrolled half-time PDF
SHM returning student enrolled full-time PDF SHM returning student enrolled half-time PDF