5.09 Returning of Federal/Title IV Funding

available to all students. Programs review their resources and assign funding based on both need and merit.

Institutional Funds – HMS has limited sources of scholarship funding for eligible Master’s students. For more information, please see Types of Funding.

Federal Loan Funds – Master’s students may apply for federal loans through the HMS Office of Financial Aid.

Private Loan Funds – This option may be available to U.S. citizens and non-citizens with a good credit history. International students may have options with or without a U.S. co-signer. For more information, please review the Harvard University private loans webpage.

Financial Aid for Students Enrolled in a Dual Degree MDMaster’s Program

Medical students taking an additional year to complete an HMS Master’s degree are eligible to apply for financial aid during all five years. Living expenses mirror the fourthyear budget. Students are required to speak with their financial aid counselor to discuss how pursuing a Master’s degree will impact their specific financial aid package and overall debt.

Students who choose the 5-year dual degree program are charged medical student tuition for the years enrolled in the MD program and Master’s tuition for the year enrolled in the Master’s program.

Financial Aid When on a Leave of Absence (LOA)

If a student takes a leave of absence after the term has begun, tuition and living expenses may be prorated based upon when the student ceases enrollment at HMS. The Financial Aid Office will revise the standard budget to reflect adjustments to tuition and living expenses as well as prorations to other costs, and will calculate an adjusted award. Students must contact the Financial Aid Office to set up a mandatory loan exit interview counseling session. For more information on how a leave of absence impacts a student’s financial aid package, please see the Policies and Disclosures section of the HMS Financial Aid Office website.

5.09 Returning of Federal/Title IV Funding

The Return of Federal/Title IV Policy applies to students who withdraw, are approved for a leave of absence or are withdrawn, dismissed or expelled from the institution. Tuition refunds for these students are determined according to the following:

1. The term “Title IV Funds” refers to the federal financial aid programs such as Federal Direct Subsidized Loans, Federal Direct Unsubsidized Loans, and Federal Direct Graduate PLUS Loans.

2. A student’s withdrawal date can be:

• The date the student began the institution’s withdrawal process or officially notified the institution of intent to withdraw or • The student’s last date of attendance as documented by academically related activity or • The midpoint of the period of enrollment for a student who leaves without notifying the institution 3. Determination of the amount of Title IV Funds to be returned:

• Refunds on all allowable charges including tuition and fees will be prorated on a per diem basis based on the number of days in attendance as a proportion to the number of days in the term or period of enrollment, up to the 60% point in the semester. There are no refunds after the 60% point in time, as the federal regulations view the aid has been “100% earned” after that point in time. • In accordance with federal regulations, the return of Title IV funds is paid in the following order: • Unsubsidized Direct Loans • Subsidized Direct Loans • Direct PLUS Loans 4. Institutional and student responsibilities in regard to the return of Title IV Funds

Harvard Medical School is responsible for:

• Providing each student with the information given in this policy • Identifying students who are affected by this policy • Completing the Return of Title IV Funds calculation for students who are subject to the policy