Financial Aid Information for Post-Baccalaureate Premedical Students
New/Prospective Students FAQ
What kind of financial aid is available?
The PBPM program is considered a graduate program, and most graduate students are only eligible for federal student loans by submitting a FAFSA. Students are able to look for private outside scholarships, and if you are a Maryland resident you may look for Maryland state financial aid opportunities.
How much can I borrow?
Depending on their personal federal loan history, PBPM students are typically eligible for $20,500 in federal unsubsidized loans just by submitting a FAFSA, and may borrow up to an additional $41,920 (estimated) by applying for a Graduate PLUS or private loan. An easy and quick way to see how much you have borrowed already is to do the Annual Student Loan Acknowledgement.
Can I borrow for books and living expenses?
Yes. You may borrow above the billable tuition costs for indirect costs such as books, room and board, transportation, and miscellaneous/personal expenses.
How do I receive extra loan funds I am borrowing?
Student loans are disbursed and applied to your billing account. Any additional amount is processed to you as a "refund" by the Goucher Billing office.
When do I receive my loan funds and how much can I get?
Disbursements happen at the beginning of each semester, around the first week of classes. Some indirect costs may need to be paid out-of-pocket until you can receive your loan, so please plan accordingly. These are rough estimates, but for a maximum borrower you may be eligible to borrow and receive up to an additional $4,500 in early June 2021, $6,900 in early September 2021, and another $6,900 in early February 2022.
2021-2022 Application Procedures and General Timeline
From November 2020 to March 1, 2021
- Complete the FAFSA electronically at https://studentaid.gov/h/apply-for-aid/fafsa.
- For the program beginning May/June 2021, please make sure you submit a 2021-2022 FAFSA.
- The 2021-2022 FAFSA became available October 1, 2020 and please submit by no later than March 1, 2021.
- Be sure to list Goucher to receive your FAFSA. (Our federal school code: 002073)
- Indicate your grade level on the FAFSA as 1st year graduate and the Degree/Certificate as Graduate/Professional Degree.
- Contact the Office of Student Financial Aid if you have any questions or issues.
Beginning on or about April 1, 2021
- Activate your official Goucher student e-mail when that information becomes available to you.
- All important financial related notifications from our office or the graduate billing office will go only to your secure Goucher e-mail, so you don't want to miss any important updates.
- Work with the financial aid office on your individual borrowing goals and needs by sending us an e-mail.
- A more detailed information sheet with typical borrowing scenarios will be available.
- Once financial aid is made available to you, officially accept or decline using the online portal called Net Partner. (See below.)
- If you intend to accept any federal loans, you will need to complete required federal online tasks including: Entrance Counseling, a Master Promissory Note (MPN), and the Annual Student Loan Acknowledgement (ASLA).
- The login there is the same as for your FAFSA. You do not neet to specifically wait to have your loans accepted and may use estimates as needed for completing these tasks early.
Between about May 1 and June 15, 2021
- This is the best time to apply for a Graduate PLUS or private outside loan if you need more than the $20,500 in federal unsubsidized loans.
- You may apply earlier, but this may mean that you will need to re-apply for your Spring semester if your credit check has expired.
- If you are applying for a Graduate PLUS loan then you will also need to submit the additional Graduate PLUS Master Promissory Note (MPN).
Net Partner - Financial Aid Online Portal
- Usually by some time in April, students will be able to create and use their Net Partner account.
- This may vary each year depending on software updates.
- This is the system where you can review needed financial aid tasks, and where you will accept or decline any financial aid.
- Federal aid - Direct Unsubsidized loan, Graduate PLUS loan
- Goucher scholarships - contact the program office for more information
- Maryland State aid - limited scholarships for MD residents
- Outside aid - scholarships or other tuition benefits
- Private education loans
- Each type of aid requires you to meet and maintain certain eligibility requirements.
Cost of Attendance
- Students may receive financial aid up to their Cost of Attendance (COA). The COA includes direct institutional charges (tuition and fees) and estimates of indirect expenses (room and board, transportation, books and supplies, and miscellaneous expenses).
- Please note that choosing the health insurance option through Goucher is not included
in any of the "standard" budget and loan calculations. You may be able to do a separate appeal to adjust your budget so you can borrow more.
- Students with a completed FAFSA on file by March 1st and have clarified their borrowing needs with our office will receive their financial aid notifications on a rolling basis starting around late April.
- Students will receive an email when their financial aid may be accessed on Net Partner.
- Students will need to log into Net Partner to accept or decline their award(s).
Billing & Refunds
- The first E-Bill for each semester will display financial aid as anticipated aid. Anticipated aid is applied to the account after the last drop date of each semester if the aid has been accepted on Net Partner and all required financial aid documents have been received and processed.
- Any remaining charges after all financial aid is applied must be paid by the E-Bill due date.
- If the student borrowed more for indirect costs and has a credit on their account, they may request a "refund" through the Goucher billing office.
- PLAN AHEAD - Refunds are not available until after the semester begins and approximately 2 weeks after the start date of the term. Indirect expenses may need to be paid out of pocket until the refund is available.
Possible borrowing scenarios for 2021-2022
Borrowing Plan Information Sheet for 2021-2022 (Coming February 2021)
2021-2022 PBPM Financial Aid Award Guide (Coming February 2021)