Application Procedures  

Steps to Getting Student Loans

Step 1: Complete the FAFSA (Free Application for Federal Student Aid) as soon after January 1 as possible. Entering students should submit the FAFSA no later than March 15 to insure that the results reach the Financial Aid Office in adequate time.  Returning Students should submit the FAFSA no later than April 25.

The FAFSA is available online at www.fafsa.ed.gov (completing the online form is faster and prevents many of the common errors associated with the traditional paper form). The WFUSM School Code is E00524.

Gather the following: income tax returns (or an estimate), W-2 forms, bank statements, and investment records. These documents will be needed to complete the FAFSA. Parental financial information is not required on the FAFSA for graduate/professional students.

Applicants must apply for financial aid each academic year. After you have completed the FAFSA, you only need to fill out a Renewal FAFSA, which is a shorter version of the original form.

Step 2: Receive and review your SAR (Student Aid Report) which will arrive about 4 weeks after you submit the FAFSA. The SAR indicates your expected family contribution, which is used to determine your eligibility for federal student loans. The SAR also lists the information you reported on the FAFSA, sot that you can check your information for accuracy. If no corrections are needed, keep the SAR for your records. If you listed the WFUSM school code in the college release section of your SAR, we will receive your information electronically.

Step 3: Review award letter from Wake Forest University School of Medicine and accept or reject loans offered accordingly. Award letters will be sent shortly after the aid application deadline to accepted applicants who completed their aid applications by the financial aid application deadline.

Return your signed award letter to the WFUSM Office of Financial Aid by the deadline indicated on your award letter. The Financial Aid Office will certify your eligibility for the loans you have accepted and send the certification to your chosen lender for processing. The WFUSM Financial Aid Office will then email the necessary link to electronically sign your MPN (Master Promissory Note).

Step 4: Read, complete and electronically sign the MPN (Master Promissory Note). The lender will not disburse loans until you have electronically completed the promissory note.

Steps to Apply for Need-based Aid from Wake Forest University School of Medicine

Step 1: Fill out the Need Access (need analysis form) as soon after January 31 as possible. New students should submit the Need Access form no later than March 15 to insure that the results reach the Financial Aid Office in adequate time.  Returning students should submit the Need Access form no later than April 25 to insure that the results reach us in adequate time.

www.needaccess.org

Gather the following for you/your spouse and your parents: 2008 income tax returns (or an estimate), W-2 forms, bank statements, and investment records. These documents will be needed to complete the form. Estimating financial data is acceptable if 2008 tax documents are not available at the time you are completeing the form.  Parental financial information required on the Need Access form for all students applying for need-based scholarships and grants from WFUSM’s need based resources. 

Step 2: Complete the FAFSA (Free Application for Federal Student Aid) as soon after January 1 as possible. New students should submit the FAFSA no later than March 15 to insure that the results reach the Financial Aid Office in adequate time. Returning students should submit the FAFAS no later than April 25.  Follow the directions for Steps to Getting Student Loans. Applicants applying for need-based aid must apply for and receive the Subsidized Federal Stafford loan.

Step 3: A signed copy of student/spouse and parents’ 2007 Federal Income Tax returns & W-2 forms must be submitted to the Financial Aid Office. If an extension is being filed, a copy of the extension form is required until the return is filed.