1. Applying for Aid: To apply for federal, state, and institutional funds, students must complete the Free Application for Federal Student Aid FAFSA every year beginning October 1. The UIC school code is 001776.
2. Award Notification:
Once the FAFSA and any additional required documents have been processed, the Office of Student Financial Aid (OSFA) will award you financial aid. You will receive an email instructing you to view your Award Notification online via the UIC Portal under the Finances tab. You will use the electronic award letter to accept or decline the aid offered to you. The OSFA begins awarding aid to incoming students in mid-March.
3. Types of Aid: There are many types of financial aid available from many different sources. Our financial aid package mainly consists of the Federal Direct Unsubsidized Stafford Loan and Graduate Plus Loan. Our website provides detailed information about the various types of loans and gift aid (grants, scholarships, waivers, fellowships) available to UIC students: https://medicine.uic.edu/financial-aid/types-of-aid/.
4. MPN and Loan Entrance Counseling: Students who accept an Unsubsidized Stafford Loan and/or a Graduate Plus Loan must complete a Master Promissory Note (MPN), one for each loan type, if this is their first time borrowing a loan. In addition to the MPN a student who has accepted either/or both loan types must complete a Student Loan Entrance Counseling requirement.
5. Financial Aid Disbursement:
The OSFA begins disbursing aid no earlier than 10 days before the start of each semester (according to the UIC academic calendar), typically mid-August for fall, early January for spring and mid-May for summer. All aid is credited to your UIC student billing account each semester. You can check your up to date student account balance, including any aid disbursements online via the UIC portal under the Finances (Bursar’s Office) tab.
If aid exceeds the charges on a student account, the University Bursar will issue a refund for the surplus. Students must enroll in direct deposit with University Bursar to receive a refund. For more about refunds, direct deposit, student bill, payment plans, sponsored payments, and free banking options, see www.paymybill.uillinois.edu