The Office of Student Financial Services (SFS)
Last updated: July 19th, 2022 at 12:06 pm
WAUSM’S OFFICE OF STUDENT FINANCIAL SERVICES (SFS)
All financial aid and student accounts personnel, whether located in Freeport or south Florida are cross-trained, use common software, and are available to counsel any WAUSM student seeking assistance. The OSF website provides information about the types of aid available and debt management strategies. All medical students who receive financial aid are required to complete one-on-one entrance and exit interviews with SFS’s financial aid staff.
Types of Financial Aid
There are several financial aid and scholarship options available to medical students, including:
• WAUSM Scholarships: These awards are offered at the time of admission and are not repaid.
• External Grants and/or Scholarships: These are grants and scholarships awarded to students by outside agencies.
• Alternative (Private) Student Loans: Alternative student loans are credit based and available through multiple lending institutions. When choosing the best loan for you look at items such as deferment, forbearance, and repayment provisions, to include what happens to the loan balance in the event of death or permanent disability.
Tuition refund brackets and qualifications for students who voluntarily drop or withdraw from the curriculum. Payment penalties are defined for non-payment of tuition.
• Students who withdraw, or have an approved leave of absence, from the University prior to the first day of classes will receive a 100% refund, less any nonrefundable fees.
• Students who withdraw, or have an approved leave of absence, from the University before the end of the first week of classes will receive a 75% refund, less nonrefundable fees.
• Students who withdraw, or have an approved leave of absence, from the University before the end of the second week of classes will receive a 50% refund, less nonrefundable fees.
• Students who withdraw, or have an approved leave of absence, from the University before the end of the third week of classes will receive a 25% refund, less nonrefundable fees.
• Students who withdraw, or have an approved leave of absence, from the University after the third week of classes will not receive a refund.
The Senior Associate Dean for Student Affairs makes the determination of extenuating circumstances such as serious illness, military conscription, or death of a family member.
The date of withdrawal is determined by the date that a written application for withdrawal for that semester is received by the office for student affairs.
Please note: Semester 1 students receive a scholarship for their tuition. For Semester 1 students, any tuition adjustments that result in a credit will be returned to the scholarship program. For US students with private loans, any credits that result will be returned to the private loan program first and to the student second.
Financial Responsibilities and Late Fees
Students accept financial responsibility for payment of all institutional costs including, but not limited to, tuition and living expenses. A student will not be able to register for future semesters until all outstanding balances have been paid in full. If a student has an outstanding balance that exceeds 30 days from the start of the semester, a hold and a $100 late fee will be placed on the student account, unless the student has prior approval from the Director of Student Financial Services (SFS) for students in semesters 1-10.
MAPP students have an extended time to pay tuition and therefore will incur a $500 late fee for non-payment of tuition by the deadline they are given prior to check-in.
The academic catalog describes the educational program and activities available at WAUSM. WAUSM’s curriculum is designed to build a solid foundation and positions students for success.
The information contained in the student handbook serves as a guide for students throughout their academic, clinical, and extracurricular life as members of the WAUSM community.