Welcome to the IUSD Office of Student Financial Services homepage. This site is designed to provide specific information to students who are applying to or are currently enrolled in the IU School of Dentistry’s Doctor of Dental Surgery Program or Dental Graduate Resident programs.
Students enrolled in the Allied Dental programs should refer to the IUPUI Office of Student Financial Services’ website for information regarding federal and/or State aid options for certificate and undergraduate programs: http://www.iupui.edu/~finaid/services/
Overview of the Federal Aid Process
US citizen and permanent resident applicants interested in pursuing federal student loans must submit the Free Application for Federal Student Aid (FAFSA) online each year. The website is www.fafsa.ed.gov and the priority deadline for submission is March 10th. Our federal school code is 001813 and should be entered in the “school choices” section. Newly-admitted students should select “Grad/Prof” student and “First Year GP” on the FAFSA application(s). Students preparing for their first year in the program should submit both versions of the FAFSA that are currently online (i.e. 2011-2012 & 2012-2013 versions for new admits beginning their studies in summer 2012). Continuing students borrowing federal loans must renew the FAFSA annually (FAFSA is updated online effective January 1st of each calendar year).
Students who wish to be considered for the need-based federal Health Professions Student Loan (HPSL) and/or the Loan for Disadvantaged Students (LDS) MUST include parental information on the FAFSA, regardless of age or marital status, and submit by March 10th. (Estimated tax information can be used in order to meet the priority deadline of March 10th). HPSL and LDS are the only federal loan options for dental students that are subsidized, meaning the loans do not accrue interest while you are enrolled.
Once the FAFSA is received, students who have been admitted to IUSD can expect to receive a Financial Aid Notification (FAN) in the mail during the month of April, which details their federal loan options. Continuing students receive their FAN via University email in May/June. Students should monitor their online IU OneStart account to insure there are no outstanding items needed for the aid process: https://onestart.iu.edu (Additional required documentation for the financial aid process will be reflected on the OneStart “to do” list.) IUSD students are responsible for monitoring their University email accounts, as official communications from both financial aid and bursar offices are sent to the IUPUI email account. Students needing assistance with email set-up should contact University Information Technology Services: http://uits.iupui.edu/
Disbursement of Loans and Billing
Federal student loans cannot credit to an enrolled students’ bursar account any sooner than ten days prior to the start of a specific term. Loans will disburse and automatically cover tuition owed, assuming the student has aid equal to or greater than the bill. Aid in excess of what is owed will refund to the student; direct deposit can be set-up online to expedite receipt of the refund: http://www.bursar.iupui.edu/directdepositinfo.asp
Students may set-up authorized payer(s) via the QuikPay system if someone will be making payments to the bill on their behalf. The Office of the Bursar’s payment options are detailed at this link: http://www.bursar.iupui.edu/paymentopts.asp Students or authorized payers who plan to pay a portion of the bill must do so by the bursar’s stated due date; e-bills are sent to the student’s University email account. 2011-2012 Tuition/Fees: http://www.bursar.iupui.edu/forms/ApprovedFeesQuickv2.pdf
Cost of Attendance and Loan Indebtedness
The Cost of Attendance (budget) refers to the maximum allowable amount of total financial aid (from all sources; federal, departmental or external funding) that a student can have within a given term. The Office of Student Financial Services formulates dental student budgets based on current tuition rates, book & supply costs, as well as modest allocations for living expenses. Daily living expenses related to spouse or children cannot be included, with the exception of daycare costs. Car purchase, moving expenses, and credit card debt are additional examples of expenses that cannot be considered when calculating how much a student may borrow. Students are encouraged to obtain a copy of their free annual credit report to monitor all accounts, especially since the Federal Graduate PLUS Loan requires a good credit history: https://www.annualcreditreport.com/cra/index.jsp
2012-2013 IUSD Cost of Attendance: (Cost Spreadsheet)
The lifetime Stafford loan aggregate borrowing limit for DDS students is $224,000 (includes Stafford borrowing for undergrad or previous graduate programs, if applicable). The lifetime Stafford aggregate for MSD students is $138,500. No more than $65,500 of the Stafford total can be from subsidized loans.
Borrowers must consider how repaying the loans will impact their personal and professional life. You should keep track of your total indebtedness and understand the approximate monthly payment obligation for the amount borrowed. Loan repayment calculators can assist you in determining monthly loan payments and total amount you will repay with interest, based on amount borrowed and the number of years it takes to pay-off the debt: http://www.finaid.org/calculators/loanpayments.phtml
Federal Stafford and Graduate PLUS loans are borrowed from Direct Loans (U.S. Department of Education). HPSL and LDS loans are also federal loans, but repayment is administered by Indiana University Student Loan Administration. Here are online resources for tracking your federal debt totals:
National Student Loan Data System (all federal Stafford & Grad PLUS loans reflected): www.nslds.ed.gov
Indiana University Student Loan Administration (loan totals for HPSL & LDS recipients): http://www.fms.indiana.edu/sla/home.asp
Direct Loans account servicing site (indebtedness totals for DL Stafford & Graduate PLUS loans, including accrued interest. Early payments can be made online at anytime): https://www.myedaccount.com/
Private loan borrowers should refer to their lender’s website for indebtedness totals.
Loan Information for International Students
International students interested in pursuing a private student loan must have a credit-worthy US citizen or permanent resident willing to serve as a co-signer. Students should compare interest rates, borrowing limits and repayment terms with the lender of their choosing. More details concerning the private loan process can be reviewed here: http://www.iupui.edu/~finaid/services/loans/private-alts/
The federal and State aid programs do not provide any grant (free) money to graduate/professional students. Institutional scholarships at IU are primarily directed towards the undergraduate populations. However, IUSD has departmental scholarships that are awarded during the fall term. Students are encouraged to apply for these funding opportunities through the IUSD Office of Student Affairs. The IUPUI Office of Student Scholarships details travel fellowships, study abroad and international student scholarship opportunities on their site: http://www.iupui.edu/~scentral/grads/general.html
There are a number of service-based scholarships available to dental students and IUSD students are encouraged to explore these options as a way to minimize their loan indebtedness. These programs pay for tuition/fees, as well as provide a monthly stipend each year that the student receives the scholarship. After graduation, the dentist provides general dentistry services to members of the military (Army, Navy, Air Force) or in underserved areas of the U.S. or U.S. Territories (NHSC and IHS).
Air Force HPSP: http://www.airforce.com/pdf/dentist.pdf
National Health Services Corp (NHSC) Program: http://nhsc.hrsa.gov/scholarships/index.html
Indian Health Services (IHS) Program: http://www.ihs.gov/JobsCareerDevelop/DHPS/Scholarships/
IUPUI Office of Student Financial Services (http://www.iupui.edu/~finaid/) – Types of Aid, Applying for Aid, Receiving Aid, Consumer Information, and Campus Center Office Information.
IUPUI Office for Veterans and Military Personnel