How to Apply for Financial Aid
The Financial Aid Office at William Carey University College of Osteopathic Medicine (WCUCOM) provides counseling and assistance to students regarding securing funding for their osteopathic medical education. Although the WCUCOM Financial Aid Office assists students with funding, it is the student’s primary responsibility to secure this financing. This means that such things as supplying personal documentation, supplying family documentation, ensuring that he/she qualifies for loans by having a favorable credit report, and providing monies for prior commitments are the student's obligations. All documents requested must be received before financial assistance will be processed.
Medical education is expensive. The average osteopathic physician is approximately $150,000 in debt by the time he/she graduates from a college or school of osteopathic medicine. During schooling, most students are required to live at a modest level. The primary obligation for financing a medical education lies with the student, the student's parents, or the student's spouse. The federal and private agencies that make funds available for borrowing do so with the understanding that a student must sacrifice in order to achieve a medical degree.
Every student that has been accepted by WCUCOM must file the Free Application for Federal Aid (FAFSA) with the appropriate federal processor to assess aid eligibility. The needs analysis system set by the federal government ensures equity of treatment among all applicants. The College uses this needs analysis system to determine the amount of need-based financial assistance, loan amounts, and scholarship awards for which a student is eligible. Every student must also file a WCUCOM Financial Aid Form. Students may file loan applications and check the status of those loans with help from the Financial Aid Office.
Financial aid as awarded or borrowed under the federal or private programs cannot exceed the WCUCOM standardized budget. There is money available for a student's direct educational cost, and there is money available to support a student while he or she receives an education, but the student must be frugal and a good money manager to make it work comfortably. Students must carefully monitor their budgets.
Tuition is due before the beginning of the academic year; sources of financial aid will make two disbursements. Registration, by telephone or in person, obligates students for payment of all tuition and fees. If tuition is not paid by the due date, students will be assessed a $50 late fee and be liable for any other reasonable collection costs and charges.
Contact the Financial Aid Office at 601-318-6153 for more information.