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Summer 2018 financial information for Class of 2018 and 2019

Jose Espada • 5/18/18

Summer 2018 financial information for Class of 2018 and 2019

Dear Class of 2018 and 2019:

If you are expecting a refund for the 2018 summer, this will occur according to the schedule or financial aid timeline.

Some of the issues we have observed in the past where a refund did not occur when expected and a late fee assessed was caused by one of the following:

  1. Student did not accept the unsubsidized loan of $6,667 ($6,596 after the origination fee of 1.069 percent), but did submit the Grad PLUS Loan request and it was processed for the maximum. The amount was just enough to cover tuition, but nothing else.
  2. Student accepted the unsubsidized loan of $6,667 and the estimated Grad PLUS Loan amount, but did not submit the Grad PLUS Loan request at studentloans. The accepted amount of $6,667 was not enough to cover tuition and the estimated Grad PLUS Loan has gone nowhere due to the Grad PLUS Loan Request not being completed. The Grad PLUS Loan Request takes about 3-5 working days to reach the school and alerts the school to process the loan, which will take another 2-3 days for the funds to be released to the school.
  3. Student did not go to the 2017 Aid Year in one.iu.edu and did not accept the unsubsidized loan of $6,667 and did not submit the Grad PLUS Loan request.

As always, if you have any questions, please contact our office and direct your questions to jespada@iu.edu.

Author

Jose Espada

Jose Rivera Espada is the director of financial aid at IU School of Medicine, a nine-campus allopathic medical school in Indiana. Jose’s experience includes working as an assistant director of financial aid at Butler University and a financial aid counselor at Indiana University in Bloomington. He has served on various committees at the Association of American Medical Colleges (AAMC) as well as state and regional financial aid organizations. He speaks regularly about financing medical education at colleges and universities throughout the state of Indiana. He earned an undergraduate degree from Indiana University and worked toward a master’s degree in music education before finding financial aid as a profession. He performs regularly with small professional choral ensembles in the Indianapolis area.