THE AWARD PROCESS

Basis for Awards

Most funding is awarded on the basis of financial need.  In fact, federal regulations require that any assistance provided from federal funds be contingent upon a careful determination of the student's financial need.  (Examples of funding with this requirement at UTMB include such sources as the Federal Perkins Loan, Federal Direct Loans, Federal PELL Grant, Federal Supplemental Educational Opportunity Grant, the Federal Work-Study Program, Leveraging Education Assistance Partnership (LEAP) Program and Health Professions Loan).  The technique of need analysis establishes a reasonable estimate of the ability of the applicant and of the applicant's family to contribute to educational expenses.  Students are expected to defray part of their expenses by contributing their savings or summer earnings, or both.  Parents are expected to contribute toward the cost of education, unless it can be established clearly that the applicant is totally independent of the family or unless the need analysis determines that the applicant's family is unable to provide financial support.  The actual amount of contribution expected from parents is determined by such circumstances as the family's income, total assets and number of dependents.  Thus, financial need, in this context, may be defined as the difference between the cost of attending UTMB and the amount of the contribution by the student and the student's family.

All institutional programs (loans, grants, scholarships) require students to furnish parent information on the FAFSA or Renewal FAFSA (applies to all students).

Award Letter

Once your financial aid application materials have been processed, and your aid eligibility determined, you will be required to logon to Financial Aid Connect to accept your financial aid award.  You may decrease or decline the amount of funding you were awarded, and we will then revise your financial aid package and send you an updated award letter.

An accepted financial aid award letter (both original and/or revised) must be received before any funds can be disbursed.  The disbursement date on your financial aid award letter is the date Enrollment Services begins the disbursement process.  After your tuition and fees are paid, funds are issued to you for the amount of financial aid that exceeds your charges.  If you have any questions regarding your funding sources, please click the appropriate link below.

Funding Priorities

Early applicants who have submitted a complete packet are given priority in awarding the Institutional Grant, Scholarship and Loan programs, the campus-based programs (Federal Perkins Loan, Federal Supplemental Educational Opportunity Grant and Federal Work-Study), and Primary Care Loan.  Because these programs are based on financial need, this approach helps ensure assistance to students who would be unable to attend for lack of financial resources.  Students who are considered ineligible for financial aid on the basis of financial need may still apply for a Federal Direct Unsubsidized Stafford/Ford Loan.

UNDERGRADUATE

GRADUATE

MEDICINE

IF YOU DO NOT ACCEPT THE AID THAT HAS BEEN OFFERED TO YOU WITHIN THE NEXT FOUR WEEKS, THAT OFFER MAY BE WITHDRAWN.

Entrance Interview

When you complete your federal student loan entrance interview.  You will need the names, addresses and telephone numbers of your parents and three other references, as well as your own information, in order to complete the form.  If you close out of the entrance interview before completing and submitting all required information, the information you did provide will be lost, and you will have to start again when you come back to the website.  You are required to complete the federal student loan entrance interview each year you receive funding.

If you are being offered funding through the:

Federal Direct Student Loan Program for the first time at UTMB, you will need to complete a Master Promissory Note (MPN).  If you have previously borrowed from the FDSL program at UTMB, this year's amount will be added to the amount you previously borrowed.

Institutional Loans

Federal Perkins Loan program as part of your financial aid package for the first time, you will need to print, complete and return the Federal Perkins Master Promissory Note (a link will be provided once you log onto e-Connect) and you will also receive your Truth-N-Lending Statements in the mail.  Please return the PMPN and TIL Statements to Enrollment Services.  If you have previously borrowed from the Perkins Loan Program at UTMB, this year's amount will be added to the amount you previously borrowed.

Institutional Loans that required a signed, paper promissory note and truth-in-lending statement, they will be mailed to you.  Once all documents are completed, please return them to the Enrollment Services office.

Federal Work Study

Federal Work-Study (FWS) as part of your financial aid package, the forms you need to complete in order to participate will be on our website on July 1.  Once you have found a position, please drop your completed forms at the Enrollment Services office.

Alternative Loans

If a student cannot meet the total cost of attendance with the financial assistance offered through Enrollment Services, alternative loans are available through the private sector (banks). 

Please go to that lender's website and complete the online application form(s) or contact the lenders directly.  Please bear in mind that alternative lenders will usually complete a credit check to determine your eligibility for funding.  You may be asked to provide a co-signer, or be denied funding based on your credit history, or lack thereof.  If you are not approved for an external loan, Enrollment Services cannot change the lender's decision and your award may be revised.

Additional Information
If you have requested that your funds be sent Direct Deposit (ACH), the funds should be in your account two to three business days after the disbursement date.  If you want your funds electronically sent to your bank account, please go to http://www.utmb.edu/accounting/forms/bursar/studentdd.pdf, complete the Direct Deposit Authorization Form, and submit it to the Bursar's Office at 301 University Boulevard, Galveston, Texas 77555-0117.  If you have not requested your funds to be sent ACH, paper checks are usually mailed the first business day following the disbursement date.

If you have additional aid eligibility and would like to discuss funding options, please call or visit one of our Enrollment Services Specialists.

Accepting & Rejecting Aid

Accepting Aid
After your funding sources have been determined, you will be notified, via email, to review and either accept or reject the aid offered to you. If you accept all of the aid offered, your record will be updated and your financial aid will be available according to the disbursement dates on your award letter.

Rejecting Aid
If you reject part of the aid offered to you, your award letter will be revised. You will once again be notified, via email, to review and either accept or reject the aid offered to you.

Award Process - Revised Award Letter

If you receive additional funding or otherwise have a change made to your financial aid award, you will receive email notification to review and accept the changes. You will have to accept or reject your revised financial aid before any additional funding will be able to be disbursed.

Promissory Notes

If you are being offered funding through the Federal Direct Student Loan Program (FDSL) for the first time at UTMB, you will need to complete a Master Promissory Note (MPN) which can be accessed from the Direct Loan website. If you have previously borrowed from the FDSL program at UTMB, this year's amount will be added to the amount you previously borrowed.

If you are offered funding through the Federal Perkins Loan program as part of your financial aid package for the first time, you will need to print, complete and return the Federal Perkins Master Promissory Note ((FPMPN) a link will be provided once you log onto E-Connect) and you will also receive your Truth-N-Lending Statements (TIL) in the mail. Please return the PMPN and TIL Statements to Enrollment Services. If you have previously borrowed from the Perkins Loan program at UTMB, this year's amount will be added to the amount you previoulsy borrowed.

If you are offered funding through Institutional loans that require a signed, paper Promissory Note and Truth-N-Lending statement, they will be mailed to you. Once all documents are completed, please return them to Enrollment Services.

Award Process - Loan Counseling

When you complete your federal student loan entrance interview, you will need the names, addresses and telephone numbers of your parents and three other references, as well as your own information in order to complete the form.

If you close our of the entrance interview before completing and submitting all required information, the information you did provide will be lost, and you will have to start again when you come back to the website. If you gather all the information you need before starting, you should be able to complete the form in 30 minutes or less.

You are required to complete the federal student loan entrance interview each year you receive funding, and funds cannot be disbursed until this requirement is met.