COM Tuition & Fees

A nonrefundable seat deposit of $2,000 is to be paid after a student has been accepted to WCUCOM.

• Those accepted prior to November 15 will have until December 14
• Those accepted between November 15 and January 14 will have 30 days
• Those accepted between January 15 and April 30 will have 14 days
• Those accepted after May 1 may be asked for an immediate deposit

Payment is credited toward the tuition upon matriculation.

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 601-318-6009 for more information.

As a medical student, certain special loan programs are available, the primary sources being the Stafford Loan Programs. Borrowing limits as follows:

• Federal Stafford Loans:
  Unsubsidized: $40,500
• Federal Graduate PLUS Loan for students: Cost of Education less any other estimated financial assistance
• Private Medical Loan: (depends on lender)

A student may not be eligible for the full amount based on his/her federal needs analysis and the WCUCOM standardized budget. The amount a student can borrow is based on the cost of his/her education and potential personal contributions, not on the student's desire for capital.

The Subsidized Stafford Loan is a low-interest program, and the government pays the interest while the student borrower is in school. It is the loan of first choice. The Unsubsidized Stafford accrues interest from disbursement date. Borrowers must consider the repayment implications and avoid excessive borrowing. WCUCOM has a federally mandated obligation to keep a student's indebtedness to a minimum. A student will frequently receive counseling through the Office of Financial Aid many times while in school about the nature of his or her debt and the projected payment schedule.

Borrowing money from these programs is a privilege, not a right; regulations controlling these programs change periodically. Students must remember that a loan is not a gift or grant; it must be repaid. Student loans are only to be used for related educational expenses and personal living expenses.

Default is the failure of a borrower to make an installment payment when due or to meet other terms of the promissory note. If this happens, it is reasonable to conclude that the borrower no longer intends to honor the obligation to repay. Defaulted loans are reported to national credit agencies, thus affecting credit ratings and future ability to borrow money. Over-borrowing can cause defaulting on a student loan. This is why educational debt management is essential. WCUCOM encourages students to learn some basic budgeting techniques, to learn to cut costs, and possibly to learn to live with less.

If a student's loan goes into default, the University, the organization that holds the loan, the state, and the federal government can all take action to recover the money. The federal government and the loan agencies can deny a school's participation in the student loan programs or charge a school or its students a higher origination fee if the school's default rate is too high. The University will withhold the transcript of any individual if that individual is in arrears or in default under any loan or loan program, where such arrears or default adversely affects the University in any way.

To obtain a credit report or receive more information on your credit report and/or credit score, visit AnnualCreditReport.com. To request your credit report by phone, call 1-877-322-8228. To request your credit report by mail, print out and complete the online request form, then mail it to Annual Credit Report Request Service, P.O. Box 10528, Atlanta, GA 30348-5281.

Federal law requires that all students receiving financial assistance from Title IV and Title VII funds maintain satisfactory academic progress. WCUCOM policy follows the academic standards that apply to all students receiving financial aid.

The academic progress of each student is monitored and evaluated at the end of each examination period by the Promotion and Matriculation Committee.

This committee reviews the records to see if the student has fulfilled all academic requirements and has maintained the standards of ethical, moral, personal, and professional conduct required for continued study of osteopathic medicine.

A student failing to meet one or more of the standards of progress may be placed on probation. While on probation, the student may receive financial aid for one enrollment period. At the end of that period, the student must be in good standing, or financial aid eligibility will be denied.

A student must be in good academic standing at the end of the summer term of the second year in order to receive financial aid while on clinical rotations. Financial aid will be withheld until the student is in good standing. The Financial Aid office will notify students who are ineligible for continued assistance and will provide them with information regarding their probationary status.

The schedule below shows the amount of tuition and fees returned to a student in the College of Osteopathic Medicine should it become necessary to withdraw after beginning classes:

• 75% refund during the first week
• 50% refund during the second week
• 25% refund during the third week
• 00% refund after the third week

The impact of withdrawal on students with Title IV Aid

How does a withdrawal affect my financial aid?

Federal regulation requires financial aid to be awarded under the assumption that a student will attend the institution for the entire period in which federal assistance was disbursed. The following policies will help you to understand that a withdrawal can not only affect you academically, but also financially. We encourage you to read all the information below prior to making a final decision.

What are "earned" and "unearned" aid?

During the first 60% of the term, you "earn" Title IV funds in direct proportion to the length of time you remain enrolled. If you remain enrolled beyond the 60% point, you earn all the aid for that period. "Unearned aid" is federal financial aid that you have accepted but not yet earned by attending for a full term.

What if I apply for financial aid and never attend class?

If you receive financial aid, but never begin attending classes, the Financial Aid office must return all disbursed funds to the respective federal and institutional aid programs.

How is the amount of unearned aid determined?

The university is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out or are dismissed prior to completing 60% of a semester. The "Return of Title IV Funds" formula dictates the amount of Title IV aid that must be returned to the federal government by WCU and by you. The percentage of Title IV aid to be returned—the unearned aid—equals the number of calendar days you completed in the term divided by the total number of calendar days in the term. Unless you complete 60% of the term in which federal aid was disbursed, you may be required to repay all or part of the financial aid that you accepted.

Who is responsible for repaying unearned aid?

Although the university must return the unearned portion of your financial aid to the federal government, you are responsible to repay the university any funds that are returned after you pick up your check from the business office. This could result in your owing aid funds to the university, the government, or both. The university must calculate and return unearned Title IV funds no later than 30 days after the date of withdrawal or when a student stops attending class.

Repayment to Federal Programs:

Federal regulation requires that the following federal Title IV aid programs offered to students in the College of Osteopathic Medicine be subject to the repayment calculation if a student withdraws before completing at least 60% of the term:

Please contact Colleen Stewart in the Business Office before making a decision to withdraw. She can complete the recalculation process to determine the unearned portion of the financial aid that must be returned and explain how it will affect you financially.

• Federal Stafford Loans (Unsubsidized and Subsidized)
• Federal Grad PLUS Loans
• Other federal funds