Frequently Asked Questions

Frequently Asked Financial Aid Questions
  1. Do I need to fill out the FAFSA every year?
    • Yes, you will need to fill out a FAFSA each year in order to receive federal aid.  The FAFSA opens each year on October 1st.  There is no priority for graduate students, so just make sure it is filled out by March 15th in order to be awarded on time.  You will use "prior-prior" financial data to submit the FAFSA.
  2. What is the Data Retrieval Tool?
  • The Data Retrieval Tool allows students, who have filed their taxes, to prefill answers to income questions by transferring data from the IRS directly to the FAFSA.
  • Starting with the 24-25 FAFSA, this process will not be called Direct Data Exchange (DDX).
  • Where Do I fill out the FAFSA?
  • What is the University of Louisville’s school code?
    • UofL’s school code is 001999-00.  The School of Medicine does not have its own school code, all students attending the University use the same code.
  • Should I include my parent’s information on the FAFSA?
    • As a graduate professional student, you are not required to include your parent’s information on the FAFSA, and the application should give you the option to not include it.
    • The only time that we would request the parent’s financial information to be included is if you are trying to pursue a Primary Care Loan (PCL) or a Loan for Disadvantaged Students (LDS).  These loans are need-based, and require parental data.  
    • Starting in 24-25, the FAFSA will no longer allow for parental data to be included on the FAFSA. For the PCL and LDS loans, this information will still be required, we will update our process on determining eligibility for these loans. 
  • What is the Primary Care Loan?
    • The Primary Care Loan guidelines are written by the federal government and Department of Health and Human Services, and they require parental data to be included on the FAFSA to determine eligibility.  To be considered for this loan you must be willing to make a commitment that you will practice in the Primary Care field after graduation from medical school.  If you are going to pursue the Primary Care Loan, you will want to have your FAFSA filed no later than March 15th.
    • The Primary Care Loan (PCL) interest rate is 5 percent and begins to accrue following a one year grace period after you cease to be a full-time student.  Repayment begins following a 12-month grace period after you cease to be a full-time student. Interest at 5 percent is computed on the unpaid principal balance and begins to accrue upon expiration of your grace period unless you are eligible to defer payment. Loans are repayable over a period of not less than 10 years nor more than 25 years, at the discretion of the institution.
  • What is the Loan for Disadvantaged Students?
    • The Loan for Disadvantaged Students (LDS) guidelines are written by the federal government and Department of Health and Human Services, and they require parental data to be included on the FAFSA to determine eligibility.  A person from a disadvantaged background is defined as one who comes from an environment that has inhibited the individual from obtaining the knowledge, skill, and abilities required to enroll in and graduate from a health professions school, or from a program providing education or training in an allied health profession; or comes from a family with an annual income below a level based on low income thresholds according to family size published by the U.S.  If you are going to pursue the Loan for Disadvantaged Students you will want to have your FAFSA filed no later than March 15th.
    • The LDS interest rate is 5 percent and begins to accrue following a one year grace period after you cease to be a full-time student.  Repayment begins following a 12-month grace period after you cease to be a full-time student.  Interest at 5 percent is computed on the unpaid principal balance and begins to accrue upon expiration of your grace period unless you are eligible to defer payment. Loans are repayable over a period of not less than 10 years nor more than 25 years, at the discretion of the institution.
  • How do I / should I apply for the Direct Grad PLUS loan?
    • We use your FAFSA as your application for the Grad PLUS loan, therefore you will not need to apply for it separately.  We can award you up to your COA in the Grad PLUS loan.  If you choose to accept any portion of the Grad PLUS loan we will then run you through the credit check process.  If you are initially denied the Grad PLUS loan there is both an appeal process as well as the option to have a cosigner on that loan.
  • When do funds disburse?
    • Fall Disbursement: M1 and M2 students disburse during the final week of July.  M3 and M4 students disburse during the first week of July.
  • How will I receive my residual funds?
    • You will need to create an account with Nelnet and then enroll in a refund method so that you will be prepared to receive any future refunds.
    • Log in to the Student Portal via ULink
    • Click on the Student Services Tab > Tuition-Fees > Student Refunds
    • In Student Center click Nelnet icon labeled “Student Choice Refunds.” This will direct you to the Nelnet site.
    • On your first visit, follow the prompts to Create an Account with Nelnet.
    • After creating an account, select “Manage Refunds” to Enroll in a Refund Method.
    • Fill in the necessary information. 
    • Your refund will then be sent using the option you selected
    Contact UofL Bursar Office at 502-852-6503 or email at Bursar@louisville.edu if you have any further questions regarding residuals.