Budget Increase Guidelines

Budget Increase Guidelines

Budget increases may be available for students facing unusual expenses within an academic year.  Students must complete a request for budget increase form and return it with any required documentation to Financial Aid for consideration.

Requests may be granted based on satisfactory documentation:

• Dependent child care
• Paid medical bills not reimbursed by insurance
• Eligible travel expenses greater than transportation allowance
• Purchase of a personal computer (once per program, proof of purchase by the student required) 

All requests will be considered on a case-by-case basis within federal regulations.

If approved, a revised award notice will be sent to the student. Upon receipt of the revised notice of award, the student may apply for additional loan funding. All funds will be divided over the remaining academic terms within that academic year. Review and processing time for budget increases is approximately 6 to 8 weeks.

Dependent care allowance 

Adjustments for dependent care allowances may be made and are based on the dependent’s age and the care facility in which they are enrolled (amounts may be prorated for children born during the academic year). Adjustments will not be granted for a dependent spouse unless he or she is physically unable to work. The dependent child must be included in the student’s household size as reported on the FAFSA and must be residing with the student. This figure may be added to the cost of the attendance budget upon receipt of a written request from the student and documentation of dependents (tax forms, care provider letters, and/or receipts from care providers). Dependent care allowances are broken down by dependent age and length of the academic year enrolled. 

* Data is for full time care. Allowance amounts must be reduced and calculated if the dependent is enrolled part-time.  

Medical and dental expenses 

Adjustments for a student’s medical and dental expenses will be made for paid expenses that are not covered by insurance and are deemed necessary. Expenses will be added to the cost-of-attendance budget upon receipt of a written request from the student and documentation of paid expenses.

Transportation 

Adjustments for transportation will be made only if the student provides documentation that he or she has spent more for transportation expenses (insurance, car maintenance, gasoline) than what was allotted in the standard budget for that academic year. Federal regulations forbid car payments to be added to the student budget. Expenses will be added to the cost of the attendance budget upon receipt of a written request from the student and documentation of paid expenses. Students must maintain a mileage log for all miles driven delineating between authorized educational or basic transportation (i.e., class, rotations, groceries, etc.) as opposed to entertainment or vacation travel. A complete log of all other transportation expenses (public transit, bicycle purchase, etc.) with paid receipts must be maintained. Only when students exceed their budget allowance for an academic year will they be considered for an increase. Students should plan travel carefully to maximize funds. 

Away electives 

Adjustments for reasonable expenses incurred during away electives for students will be made only if the student provides documentation of required books and registration fees. Expenses will be added to the cost-of-attendance budget upon receipt of a written request from the student and documentation of the expenses.

Personal computer 

Adjustments for the purchase of a personal computer (PDA excluded) can be made during the student’s academic career, not to exceed $1,700. Expenses will be added to the cost-of-attendance budget upon receipt of a written request from the student and documentation of the paid expenses. It is recommended to include a warranty for the length of the program. Additional loans for any replacement computer deductibles may be applied for in the future with documentation of the reason for loss (theft, damage, etc.) and confirmation of costs not covered by warranty. Funds are divided equally over the student's academic year with funds released on the first day of each term.

Married students who are both attending our institute  

The standard student budget will be used for each student.

Base-year income 

Adjustments will not be made to the student’s and/or spouse’s income or adjusted gross income based on projected income for the next academic year. Students anticipating medical school enrollment are responsible for contributing to their education. The nature of financial aid is based not on what a family is willing to pay, but on their ability to pay. Base-year income may be adjusted for students who were married at the time of application and have since divorced. Documentation of the student and/or spouse’s income is required in order to re-determine adjusted gross income, taxes paid, and wages. 

Residency interview travel expenses 

Although most fourth-year medical school students manage to fit their travel expenses into their annual transportation allowance, some need additional assistance. Within very specific guidelines, it may be possible to have an increase in residency interview travel expenses. Review the residency interview travel increase guidelines for details. Students need to keep a student mileage log for all travel that year to justify funds exceeding the annual transportation allowance. The residency interview travel increase request form should be used and additional information should be provided if required. A residency interview travel template is available to assist you in gathering needed information.

Revised April 4, 2022.