For What It's Worth Newsletter - MD September 2025

Refunds

Need money to cover fall living expenses?

Students who expect to have a credit balance once all anticipated aid is disbursed may apply for a living expense refund against the future credit.

Complete a Refund/Cash Advance Request Form

Student Services

Student Financial Services

• Payment plans

• Bill payments

• Third party billing

• Bill due dates

• Direct Deposit

• Tax forms – 1098T

https://sfs.harvard.edu/

Registrar’s Office

• Posts tuition and fees

• Completes enrollment verification for loan deferment forms

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https://hushp.harvard.edu/your-benefits/

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https://sfs.harvard.edu/veteran-military-benefits

https://meded.hms.harvard.edu/regis trar

Financial Aid Office

• Posts anticipated

• Processes living expense refunds

• Disburses loans

https://meded.hms.harvard.edu/ md-financial-aid

Financial Aid: Your Questions Answered

Have questions about financial aid? To help simplify the process, we’ve compiled answers to some of the most common questions we receive from medical school students.

If you don’t see your question here, reach out to our office. We’re here to help!

When does interest on the federal loans start to accrue? Interest begins to accrue as soon as your loan disburses onto your student billing account. This typically occurs in mid-September for the fall disbursement and in early February for the spring disbursement.

Can I waive Harvard’s health insurance plan? All MD students are automatically enrolled in Harvard’s health insurance plan. You can waive the health insurance plan if you have comparable insurance. Health insurance waivers can be completed online at https://hushp.harvard.edu/waiver-eligibility-application-process/. Note: The cost of Harvard’s health insurance plan will be removed from your cost of attendance budget if you are waiving the school’s insurance plan. This may result in reduction of your financial aid award.

How is tuition billed? Tuition is billed twice a year. Tuition and fees are generally split between the fall and spring terms. Fall term bills go out in July and spring bills go out in December.

Are there any payment plan options? Students can enroll in a monthly payment plan through the Student Financial Services Office. There is a $35 fee per term to enroll in the plan. You can find more details online at https://sfs.harvard.edu/monthly-payment-plan

One

Big Beautiful Bill Act Updates

On July 4, 2025, the One Big Beautiful Bill Act (the Act) became law, bringing about changes to certain federal student aid programs. While some of these changes took effect right away, others will be implemented later this year and in the future.

View details.

Federal Loan Updates

Enhancements to StudentAid.gov

On August 3, 2025, new enhancements to StudentAid.gov were introduced to help students and borrowers quickly access the applications and information they need. Some of these changes include:

• Updated borrower defense to repayment loan discharge application

• Real-time matching with the Social Security Administration for borrowers creating or updating accounts

• Improved site navigation.

View details.

Financial Aid Fact

Students can cancel all or a portion of their federal loan disbursement within 120 days of the date of disbursement. Students will not be charged interest or fees on the amount that is returned to their federal loan servicer.

by Jimmy