Enrollment Management | Financial Aid Services

Loan Certification Policy

Office of Financial Aid Services
Federal Stafford, Grad PLUS, Parents Loans for Undergraduate Students (PLUS) and Private Loans Certification
Policy and Procedures

Purpose

To set forth a policy and procedures guideline governing loans and the conditions whereby the institution will comply.

Policy

It is the policy of The Medical University of South Carolina, through the Office of Financial Aid Services to certify a loan application in accordance with the Department of Education standards. It is the goal of the institution to ensure that students take advantage of all available federal loan benefits prior to obtaining an alternative loan. The Medical University does not receive inducements, financial or otherwise from any lender.

Definition

Federal Direct subsidized, unsubsidized and/or Parents Loans for Undergraduate Students (PLUS), Graduate PLUS and Private Loans not covered by the federal government.

Requirements

Students desiring certification of a loan must (if applicable to loan):

  1. Complete a Free Application for Federal Student Aid (FAFSA), listing MUSC as one of the schools to receive information (school code #003438), for the current aid year
  2. Provide all the necessary documents as required by the Office of Financial Aid Services (i.e., loan request application)
  3. Complete a loan application on line or provide a paper application per student's choice

Conditions for Certification

A Counselor in the Office of Financial Aid Services will certify the loan application in accordance with federal regulations and/or the guidelines governing the alternative loan program.

Loan Limits

A Counselor in the Office of Financial Aid Services will certify a loan application taking into consideration, cost of attendance minus any other financial aid received. A student will be considered for federal student loans only if the student completes a loan request application. A student may not request an alternative loan to replace a federal student loan for which the student is eligible.

Revised 6/11

 
 
 

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