Thomas Jefferson University

Main menu:

Frequently Asked Questions

CURRENT FEATURED QUESTIONS
What is the IRS Data Retrieval Tool?
Answer in PDF.
What are the Lifetime Learning Tax Credit and Tuition and Fees Deduction?
Answer in PDF.
I've been selected for federal verification Group V1 - what does this mean?
Answer in this PDF.
Do you need to complete a Self-Certification Form for your Institutional Loans?
Answer in this PDF.

 

Staff/Getting Help

The front desk staff of the Financial Aid Office is able to help you with many of your processing and program questions. The three members of the front desk staff are:

Jacquelyne Roundtree,
Administrative Coordinator

Kristin Mozzachio,
Financial Aid Assistant

 

Items that the staff can help you with:

  • Map out the required application procedure, including applying for Federal Stafford and private alternative loans.
  • Advise you as to the status of your application.
  • Describe general parameters governing all financial aid programs.
  • Outline the process you must complete to respond to any follow up requirements.
  • Direct you through the basic process of reducing the amount of the loans you borrowed originally or borrowing additional funds.
  • Let you know the status of your application.
  • Advise you as to whether or not funds have been received from the lender, and the date on which they were sent to the Tuition/Cashier's Office.
  • Provide you with the most up to date information on your loan status.

If you are not eligible to borrow additional funds because your resources (i.e., family resources, financial aid, private funding) meet your total budget, or there are other unique circumstances regarding your personal financial aid situation, the front desk staff will set up an appointment for you to meet with:

  • Susan McFadden, University Director of Financial Aid
  • Thomas Stewart, University Associate Director of Financial Aid
  • Melissa Cadet, Financial Aid Coordinator
  • Atheia Mobley, Financial Aid Coordinator
  • Sean Duffy, Financial Aid Coordinator
  • Usha Nair, Student Services Coordinator
  • Nicole Bailey, Student Services Coordinator

In referring you to the appropriate person, the front desk staff makes the assessment based on the individual who has previously worked with your file and/or the nature of the problem.

Applying for Financial Aid

Financial aid deadlines are based on the school and year of the program in which you are enrolled.

Please note that the deadlines listed below differentiate between institutional aid and the Federal Direct Stafford Loan Program.

Institutional Financial Aid application deadlines are for the calendar year preceding the academic year for which you are applying and are as follows:

March 1 SKMC Students who will be in their third/fourth year.
March 15 All returning JSHP, JSN, JSP students.
April 1 SKMC students who will be in their second year or beginning their first year.
May 1 New and Returning JGSBS and JSPH students

Not less than six weeks before your tuition bill due date. During the peak lender processing period (May to September) processing may require a four- to six-week period. To ensure that your funds are received in a timely manner and to avoid late fees being applied to your tuition account, you must:

  • Submit all of the institutional application requirements (as outlined in Question 2).
  • Complete the Federal Stafford application located on Banner Web (indicating the amount you want to borrow).
  • Complete a separate Master Promissory Note (MPN) (this is the form you must sign acknowledging your responsibility to repay the debt). The MPN can be completed at http://studentloans.gov

(Please Note: A complete description of the Federal Direct Stafford application process is outlined in Question 2.)

See also Question 5, Question 6 and Question 10.

Please note that required application material is dependent upon the college/school in which you are enrolled. In addition, application material for institutional aid is different from application material required if you plan to borrow only the Federal Direct Stafford Loan. Please refer to the information below.

Sidney Kimmel Medical College

  • Institutional Financial Aid Application Requirements.
  • Students Applying for only Federal Direct Stafford Loan Funding.

Jefferson Schools of Health Professions, Nursing, & Pharmacy

  • Institutional Financial Aid Application Requirements.
    • Dependent Students and Independent Students who had total financial resources less than $7500 during the prior calendar year.
    • Independent Students who had total financial resources greater than $7500 during the prior calendar year.
  • Students Applying for only Federal Direct Stafford Loan Funding.
    • Dependent Students.
    • Independent Students.

Jefferson Graduate School of Biomedical Sciences & Jefferson School of Population Health

  • Institutional Financial Aid Application Requirements.
    • Independent Students who had total financial resources less than $7500 during the prior calendar year.
    • Independent Students who had total financial resources greater than $7500 during the prior calendar year.
  • Students Applying for only Federal Direct Stafford Loan Funding.

Jefferson Medical College

Institutional Aid Application Material

  1. Free Application for Federal Student Aid (FAFSA) (including parents information).
  2. Jefferson Medical College Financial Aid Application.
  3. Signed copy of most recent federal income taxes; or Non-filing Statement if a tax return will not be filed.
    1. Your taxes
    2. Your spouse's taxes (if married)
    3. Your parent(s) taxes
  4. Federal Direct Stafford Loan Application
    1. Federal Direct Stafford Loan Application located on Banner Web.
    2. Federal Direct Stafford Master Promissory Note. (Please Note: If you are a continuing student at Thomas Jefferson University, you do not need to sign a new MPN each year. If you will be a new student at Thomas Jefferson University or are a continuing student and have never completed a Direct Loan MPN, you must complete a MPN.)
  5. Federal Work Study Application (if interested in FWS).

The Jefferson Medical College federal school code (that must be included on the FAFSA) is 010021.

If you do not intend to apply for institutional aid and wish to apply for only the Federal Direct Stafford Loan, the following application material is required:

  1. Free Application for Federal Student Aid (FAFSA).
  2. Jefferson Medical College Financial Aid Application.
  3. Signed copy of most recent federal income taxes; or Non-filing Statement if a tax return will not be filed.
    1. Your taxes.
    2. Your spouse's taxes (if married).
  4. 'Not Applying' for Jefferson Aid Statement.
  5. Federal Direct Stafford Loan Application
    1. Federal Direct Stafford Loan Application located on Banner Web.
    2. Federal Direct Stafford Master Promissory Note. (Please Note: If you are a continuing student at Thomas Jefferson University, you do not need to sign a new MPN each year. If you will be a new student at Thomas Jefferson University or are a continuing student and have never completed a Direct Loan MPN, , you must complete a MPN.)

The Jefferson Medical College federal school code (that must be included on the FAFSA) is 010021.

Jefferson Graduate School of Biomedical Sciences, Jefferson Schools of Health Professions, Nursing, Pharmacy & Population Health

Institutional Aid Application Material

  1. Dependent Students; Independent Students who had total financial resources less than $7500 during the prior calendar year.
    1. Free Application for Federal Student Aid (FAFSA) (including parent's information).
    2. Thomas Jefferson University Institutional Financial Aid Application.
    3. Signed copy of most recent federal income taxes; or Non-filing Statement if a tax return will not be filed.
      1. Your taxes.
      2. Your spouse's taxes (if married).
      3. Your parent(s) taxes.
    4. Federal Direct Stafford Loan Application.
      1. Federal Direct Stafford Loan Application located on Banner Web.
      2. Federal Direct Stafford Master Promissory Note. (Please Note: If you are a continuing student at Thomas Jefferson University, you do not need to sign a new MPN. If you will be a new student at Thomas Jefferson University or are a continuing student and have never competed a Direct Loan MPN, you must complete a MPN.
    5. Educational Plan (Part-time and per-credit tuition charged students only).
    6. Federal Work Study application (if interested in FWS).
  2. Independent Students who had total financial resources greater than $7500 during the prior calendar year.
    1. Free Application for Federal Student Aid (FAFSA).
    2. Thomas Jefferson University Institutional Financial Aid Application
    3. Signed copy of most recent federal income taxes; or Non-filing Statement if a tax return will not be filed.
      1. Your taxes.
      2. Your spouse's taxes (if married).
    4. Federal Direct Stafford Loan Application.
      1. Federal Direct Stafford Loan Application located on Banner Web.
      2. Federal Stafford Master Promissory Note. (Please Note: If you are a continuing student at Thomas Jefferson University, you do not need to sign a new MPN. If you will be a new student at Thomas Jefferson University or have never completed a Direct Loan MPN, you must complete a MPN.
    5. Educational Plan (Part-time and per-credit tuition charged students only.)
    6. Federal Work Study application (if interested in FWS).

The Jefferson Schools of Health Professions, Nursing & Pharmacy federal school code (that must be included on the FAFSA) is 013549.

The Jefferson Graduate School of Biomedical Sciences & Jefferson School of Population Health federal school code (that must be included on the FAFSA) is E00799.

If you do not intend to apply for institutional aid and wish to only apply for the Federal Direct Stafford Loan, the federal Pell Grant and PHEAA state grant funds, then the following application material is required:

  1. Free Application for Federal Student Aid (FAFSA) (including parent's information).
  2. Thomas Jefferson University Institutional Financial Aid Application.
  3. Signed copy of most recent federal income taxes; or Non-filing Statement if a tax return will not be filed.
    1. Your taxes.
    2. Your spouse's taxes (if married).
    3. Your parent(s) taxes (if dependent).
  4. Federal Direct Stafford Loan Application.
    1. Federal Stafford Loan Application section of the institutional application.
    2. Federal Stafford Master Promissory Note.  (Please Note: If you are a continuing student at Thomas Jefferson University, you do not need to sign a new MPN. If you will be a new student at Thomas Jefferson University or are a continuing student and never completed a Direct Loan MPN, you must complete a MPN.

The Jefferson Schools of Health Professions, Nursing & Pharmacy federal school code (that must be included on the FAFSA) is 013549.

The Jefferson College of Graduate Studies & Jefferson School of Population Health federal school code (that must be included on the FAFSA) is E00799.

Independent Students

  1. Free Application for Federal Student Aid (FAFSA).
  2. Thomas Jefferson University Institutional Financial Aid Application.
  3. Signed copy of most recent federal income taxes; or Non-filing Statement if a tax return will not be filed.
    1. Your taxes.
    2. Your spouse's taxes.
  4. Federal Direct Stafford Loan Application.
    1. Federal Direct Stafford Loan Application located on Banner Web.
    2. Federal Direct Stafford Master Promissory Note. (Please Note: If you are a continuing student at Thomas Jefferson University, you do not need to sign a new MPN. If you will be a new student at Thomas Jefferson University or a continuing student and never completed a Direct Loan MPN, you must complete a MPN.)

The Jefferson Schools of Health Professions, Nursing & Pharmacy federal school code (that must be included on the FAFSA) is 013549.

The Jefferson College of Graduate Studies & Jefferson School of Population Health federal school code (that must be included on the FAFSA) is E00799.

See also Question 5 and Question 6.

We recommend that you at least file a FAFSA (Free Application for Federal Student Aid) and indicate Jefferson as a school in which you are interested in attending. You can complete the FAFSA on the Web at www.fafsa.ed.gov. Please remember: You must include parents' information on the FAFSA if you are dependent or are applying for Jefferson institutional aid.

Once you are accepted, an email will be sent to you with instructions as to how to complete the other application material on Banner Web. Once you have completed all financial aid application requirements, we will review your file and determine your eligibility for financial aid.

You can complete the FAFSA on the Web at www.fafsa.ed.gov. Please remember: You must include parents' information on the FAFSA if you are applying for Jefferson institutional aid.

Once you have completed all financial aid application requirements, we will then review your file and determine your eligibility for financial aid

This will depend upon the semester in which you intend to return and when you last filed a financial aid application.

If you intend to return for the Fall semester, please follow the deadlines listed in Question 1. If you intend to return for the Spring semester and have previously filed financial aid application material for that academic year, you will not have to re-apply. We will use the current application material filed for that academic year.

Each year that you intend to receive financial aid funds, you must reapply. Please refer the deadlines listed in Question 1 and to the application requirements outlined in Question 2.

Yes, to some degree. Please refer to the deadlines listed in Question 1 and the required application material listed in Question 2.

There are a number of reasons why this may happen.

  • The information you submitted to the school does not match the information you reported on your Free Application for Federal Student Aid (FAFSA).
  • The Federal Government has selected you for "Verification." This means they would like the school to confirm that all information reported on the FAFSA is true and accurate.
  • The Federal Government could not confirm certain information regarding your citizenship status, the information on file with the Social Security Administration, your Selective Service registration, and/or the status of previous federal loans that may be in default. In these instances, the Government is requesting that the school clear this information prior to awarding any federal funds to the student.

There are times when the information submitted on the FAFSA is correct, but may conflict with other information on record.

As noted in Jefferson's financial aid publications, the first responsibility for financing education must rest with students and their family. This policy, consistent with the majority of private colleges and medical schools nationwide, is based on the limited nature of institutional funding. Parent income and asset information is required in an attempt to distribute the limited pool of institutional funding in the most equitable manner possible. While students may meet the federal criteria for independence, Jefferson requires the inclusion of parental information to ensure that the limited funding that is available is disseminated to the students that have the least amount of potential parental support. Reversal of this policy would mean that students from even the wealthiest families could choose to replace parental support with expected Jefferson support.

Even if parents are not paying the direct cost of an education, they still represent a potential source of support. Often times, this potential support includes assistance with living or transportation costs, monetary gifts, assistance with the interest payments on unsubsidized loans during the in-school period or actual post-graduation repayment.

It is important to emphasize that this policy applies to institutional aid only. Students who meet the federal criteria for independent status may apply for Federal Direct Stafford, Federal Direct Grad PLUS (if Graduate Student), and Federal Work Study. In addition, independent, undergraduate students, who do not have a prior Bachelor's degree, may apply for Federal Pell, Supplemental Educational Opportunity Grant (SEOG) and state grant funds by submitting only their, and if applicable their spouse's, income and asset information.

Please remember that the sooner you complete all of the application requirements, the sooner we are able to advise you of your financial aid eligibility.

Eligibility notices, pertaining to institutional financial aid, will be emailed to students starting in late March for all students who meet the application deadlines noted in Question 1.

If you complete your financial aid application after the deadline date, notification of your eligibility should be sent within three to four weeks of the date that you completed all requirements.

The requested disbursement date for the first half of your Federal Direct Stafford Loan, Federal PLUS loan, and private alternative loans is 13 days prior to the beginning of classes. The requested disbursement date for the second half of your Federal Stafford Loan and private alternative loans is between mid-December and early January

It is important to note that registration and Satisfactory Academic Progress (i.e., grades from prior term) must be confirmed prior to Federal or alternative loan funds being disbursed to the student's tuition account.

Other websites that may provide information on financial aid are:


Student Expenses

The standard student expense budget will be dependent upon the major in which you are enrolled. Tuition charges are set annually by each college, books and supplies are determined by the requirements of each major, living expenses are based on room charges in the Martin Building for dependent students and moderate cost of living in the Philadelphia area for Independent students. (Moderate cost of living is determined on an annual basis by the Bureau of Labor Statistics.)

In accordance with federal regulations, the standard budget items are as follows:

  • Tuition
  • Room
  • Board
  • Books
  • Supplies
  • Transportation
  • Miscellaneous
  • Medical-Dental
  • Major Medical Insurance (required by institution)
  • Loan Fees

Please note that a major component of the Student Expenses Budget is the tuition charge. This varies between the different majors, and is dependent upon your enrollment status. Detailed tuition information is on the Registrar's site.

If you interested in living in on-campus TJU housing, rates and accommodation information can be found on the Department of Housing and Residence Life webpage, www.jefferson.edu/university/housing.html.


Reevaluation of Financial Aid Eligibility

If you feel you have costs that exceed the standard budget, you should make an appointment with a financial aid staff member. At that time, these additional costs will be evaluated to see if these are educationally related expenses (as specified by the federal government) and if so what adjustments may be made to address the unusual financial circumstances.

Contact the University Office of Student Financial Aid to discuss your needs. Most often, the front desk personnel can assist you by calculating your remaining loan eligibility and directing you as to how to apply for additional funds. If the front desk staff feels you have special circumstances, (as noted in question 1) they will schedule an appointment for you to meet with a member of the administrative staff.

Federal regulations allow for the inclusion of a computer in a student's budget. While Jefferson does not require students to own a computer, with proper documentation, students may request a one-time budget adjustment of not more than $1,500 to accommodate the purchase of a computer. Please note, however, that institutional funding may not be increased to accommodate this additional expense.


Tuition Billing Process

The process for application of financial aid funds to your tuition account is as follows:

Institutional & Institutionally Administered Federal (e.g., Pell Grants, Perkins, SEOG, PHEAA state grants) Funds

When your financial aid eligibility is awarded, it is logged onto your financial aid computer record. This record of your aid is "fed" to the Tuition/Cashier's Office computer system and your aid is placed on your tuition account. Institutional scholarships are viewed as a direct payment toward your outstanding tuition balance. Institutional loans are placed on your tuition account as a memo once the required Self-Certification Form is completed and will remain until the student signs the promissory note and payment is made. Promissory notes are mailed by the Tuition/Cashier's Office (usually within two weeks of when the Self-Certification Form is signed.)

When the loan application has been processed and sent to the lender the Federal Direct Stafford is placed on the tuition account as a memo, which means the aid is pending. The memo credit is taken off and replaced with an actual payment only after the Federal Direct Stafford loan disbursement is received. Federal direct Stafford Loan funds are sent by the lender to the University Office of Student Financial Aid, usually within 5 days of when the application was processed. Note: If the loan application is certified prior to the start of the term, funds will be requested for disbursement 10 days prior to the start of the term to allow sufficient time to deposit the funds to your tuition account and issue any applicable refund.

It is important to note that a few additional steps are required when the Stafford funding is received in the Financial Aid Office. Students' records are reviewed for completion of verification and the Entrance Interview requirement as well as confirmation of registration and Satisfactory Academic Progress. If the student's record has been finalized and all academic requirements have been met, then the funds are sent to the Tuition/Cashier's Office within three days of receipt.

Federal Direct Stafford Loan funds received by Electronic Funds Transfer (EFT) do not require student's signature and will be immediately deposited as a payment to the student's tuition account.

Outside, private scholarships and loans funds (e.g. National Merit Scholarship, William Goldman Foundation, Pennsylvania Medical Society)

Funding from outside agencies is usually sent directly to the University Office of Student Financial Aid. The Financial Aid Office logs these funds to your financial aid record, checks to ensure that an overaward is not created, and sends the funds to the Tuition/Cashier's Office within 4 days of receipt.

In most cases, these funds are sent in the form of a check and the student's signature is required. The Tuition/Cashier's Office will notify you of this requirement. Once the check is signed, the funds are deposited to your tuition account as a payment.

(Note: Memo credits for outside funds are not usually placed on student accounts.)

Military and National Health Service Corp (NHSC) Scholarships

Upon receiving a full-tuition scholarship of this type, submit official notification to the Financial Aid Office. Only by doing this can your funds be paid to the Tuition/Cashier's office.

The Financial Aid Office will record your military or NHSC scholarship on your financial aid record and transmit this information to the Tuition/Cashier's Office. Typically in October and again in January, the Tuition Office will send invoices to these agencies requesting funds for all students that have been recorded as a recipient. The first half of the scholarship is usually sent to the Tuition/Cashier's Office within six weeks of receipt of the invoice.

The second half of the scholarship is usually sent in January of the spring semester.

When your financial aid eligibility is calculated and awarded, it is logged onto your financial aid computer record. This record of your aid is "fed" to the Tuition/Cashier's Office computer system and your aid is placed on your tuition account.

However, as noted in question 1 (above), certain types of aid require further action by the student (e.g., institutional loans require a Self Certification Form and a promissory note to be signed) before an actual payment can be made to your account. Therefore, a memo credit appears on your tuition account letting the Tuition/Cashier's Office know that funds are pending but cannot be paid until a requirement, such as submission of a signed promissory note, has been met.

Once this requirement has been met, the memo credit will be taken off the tuition account and a payment is made to the outstanding tuition.

Federal Direct Stafford Loan funds will also reflect on your tuition account as a memo credit toward tuition until loan funds are received from your lender. At that time, the memo credit is removed and the payment is applied to your account.

Memo credits will always appear on your bill until the promissory note(s) has been signed and submitted to the Tuition/Cashier's Office or until your Federal Direct Stafford Loan funds are received from the lender. As memo credits are not payments, you will continue to receive a bill from the Tuition/Cashier's Office until promissory notes have been signed and until Federal Direct Stafford loan proceeds have been received.

Information is transmitted electronically between the University Office of Student Financial Aid and the Tuition/Cashier's Office regarding student financial aid. The information that is transmitted reflects actual as well as pending financial aid.

However, funds not yet received by the school may not be applied to your tuition account. For these reasons, we recommend that you bring certain items to Registration and/or the Tuition/Cashier's Office when inquiring about a bill. The recommended items are:

  1. Print a copy of your award from Banner Web.
  2. A copy of correspondence from any outside agencies from which you expect to receive funding.

Please note: Students sponsored by the National Health Service Corps (NHSC) or the Armed Forces Health Professions Scholarship Program (AFHPS) must bring copies of the award confirmation (i.e., NHSC award notice and AFHPS appointment orders) to the Financial Aid Office.

When the combination of financial aid and other payments exceeds your tuition and fee obligation, then a refund is produced which may be used for other educationally related expenses.

The Controller's Office has established a standard schedule during which refund are issued.

If your funds are received (in the Tuition/Cashier's Office) by Monday at 12 p.m., you will receive a refund on that Friday. If your funds are received (in the Tuition/Cashier's Office) after Monday at 12 p.m., then you will receive a refund the following Friday.

If you have any questions about a refund, please call the Tuition/Cashier's Office at (215) 503-7669.


Repayment of Student Loans

Students may receive this type of notice from their lender if:

  • They were previously enrolled in a college or university, other than Thomas Jefferson University, or
  • Have changed colleges within Thomas Jefferson University
  • There has been a change in a your expected date of graduation.

If you receive this type of notice from your lender, you should:

  • Obtain the 'in-school' deferment form from that lender. (Most lenders provide this form at the same time they advise the borrower that they are scheduled to begin repayment.)
  • Take the deferment form to the Registrar's Office, which will confirm that you are enrolled at least half time (i.e., minimum of six credits in for undergraduate students and minimum of 5 credits for graduate students. Students enrolled in the Medical College are always enrolled on a full-time basis).

Deferment forms submitted to the University Office of the Registrar are forwarded to the National Student Loan Clearinghouse (NSLC) for processing. Thomas Jefferson University is a participating member of NSLC, a non-profit consortium representing schools, guarantors, lenders and servicers. The NSLC was established to standardize, simplify and automate student enrollment verification and deferment processing. Normal submission of deferment forms to the NSLC occurs on a weekly basis. However, during times of peak activity, such as the beginning of a new semester, forms are forwarded several times per week. In cases of extreme need, normal deferment processing will be bypassed and contact made directly with the lending agency or guarantor.

At the beginning of each semester and approximately monthly thereafter, the Registrar's Office transmits a comprehensive enrollment file to NSLC. The vast majority of lending institutions nationwide are then able to access this information online to ensure that they have the most up to date information before sending a repayment notice to their respective borrowers.

The only action you need to take when you receive any statements from your lenders, is look over the statement to verify that all of the information on the statement is correct. If the information is correct, then make sure to put the information in a safe place for future reference.

If any of the information on the statement is incorrect, then you should contact the lender and find out what you must do to ensure that they make all pertinent corrections to your account information. Then check follow-up statements you receive in the future to confirm that all biographic and financial information remains accurate.

You are not required to pay the interest on either your Federal Direct Unsubsidized Stafford, Federal Graduate PLUS or your private unsubsidized alternative loans while you are in school. Furthermore, most Federal and private lenders will not capitalize your accumulated interest until you graduate or otherwise begin repayment. Therefore, for the most part, you do not run the risk of the accumulated interest being added to the principal, thereby increasing the amount of the principal on which future interest amounts will be calculated.

However, there is one option you may want to consider to keep down the amount of your total debt.

If your parents or other family members are able to pay the interest as it accumulates, then your debt at graduation will be only the amount of principal you actually borrowed. Additionally, as of January 1, 2002, the benefit of graduating with your debt stabilized at the original principal amount will be enhanced by corresponding tax privileges. Under the current federal tax laws, paid student loan interest can be deducted only if the loan is in active repayment status.

Students do not need to worry about consolidation of their loans while they are in school. In fact, except for the clause that allows students to consolidate their Ford Direct Loans with Federal Direct Stafford Loans, students are not allowed to consolidate while enrolled in school on at least a half-time basis.

All students are required to complete a federally mandated Exit Interview prior to graduation. Loan consolidation is discussed at length during Exit counseling whether online or in person. Information on consolidation includes:

  • The potential positive points of consolidation (e.g., the benefit of reducing the number of lenders that you are required to interact with, the variety of repayment options (standard, extended, graduated and income based) from which you may choose, and the benefit of lower monthly payments, due to extending the repayment period).
  • The potential negative points of consolidation (e.g., only federal loans may be consolidated, the interest rate on lower cost loans may be increased when combined with higher cost loans, and by extending the repayment period, your total payback is increased).

As of January 2008, there is only one federal consolidation program offered.   Please see www.loanconsolidation.ed.gov for information.

There are important questions students need to ask, such as

  • What loans may be consolidated?
  • Based on your specific debt portfolio, how do the potential positive and negative aspects of consolidation apply to you?
  • If you decide to consolidate, when is the best time?
  • Can your repayment plan change after you've already begun or even completed the consolidation process?

Students are urged to access the Direct Consolidation website to obtain some preliminary information. However more comprehensive information is provided by the University Office of Student Financial Aid, not only via the Exit Interview, but by the debt management seminars held at various times throughout the year. The schedule for these seminars is discussed in Question 6 below.

Per federal regulations, a student who drops below a half-time student status (i.e. 4 or less credits for graduate students, 5 or less credits for undergraduate students, takes a leave of absence, withdraws, or graduates) and who has borrowed through any institutional or federal loan program, must complete an Exit Interview prior to the cessation of enrollment.

The Exit Interview is an important avenue by which you are advised of your rights, responsibilities and what will happen to your loan(s) once you are no longer enrolled. Medical School Exit Interviews for graduating students are held in small group sessions. Small group sessions are beneficial as students, through discussion, share information, ideas, and concerns. If, after attending a Small Group Exit Interview, you have follow up personal, financial or repayment questions, then a member of the Financial Aid staff will be happy to meet with you to review your individual debt management issues. All other students must complete the Exit Counseling program made available online at www.nslds.ed.gov.

Yes, the Exit Interview is one avenue by which you can obtain this information. However, more importantly there are avenues you may access while you are still in school.

Some of this information is introduced at the Entrance Interview that is required for all first-year students. In addition, the University Office of Student Financial Aid sponsors two seminar series to provide Thomas Jefferson University students with information on Debt Management, Tax Issues, Mortgage Basics, Insurance Planning and Investment Strategies. The seminar series for all students and Jefferson Health System residents is held in the spring (usually February and March). Email notices are sent to students in January and reminder emails are sent 1-2 weeks prior and resident local addresses usually three to four weeks prior to the each seminar, advising them of the exact dates and times.

Students may also obtain important information regarding repayment and tax issues via websites and other resources on campus.

As noted in question number 4 (above), students may obtain information about Federal Direct Consolidation Program via the web site at www.loanconsolidation.ed.gov.

Students are able to estimate their loan repayment via the student loan calculators that are available at www.loanconsolidation.ed.gov and www.mappingyourfuture.org/paying/standardcalculator.htm.

Information about the education and loan repayment benefits provided under the Tax Relief Act of 1997 and the Economic Growth and Tax Relief Act of 2001 may be obtained via www.irs.gov.

The Jefferson School of Health Professions Office of Career Planning and Placement conducts an extensive survey of graduates placements and salaries. Copies of this information may be obtained by contacting that office at (215) 503-5805.

Medical Economics magazine publishes an annual survey, usually in the September issue, providing salary information for physicians nationwide. This survey includes comparisons based on geographic location, specialty and years in practice. Thomas Jefferson University's library currently maintains a subscription to this publication.