Student Financial Services

Student Financial Services at LKSOM

MERB Suite 325
3500 North Broad Street Philadelphia, PA 19140
215-707-0749
[click-for-email]

Financial Aid Application Process and Awards

To be eligible for federal student loans (Direct Unsubsidized and/or Graduate PLUS) and consideration for any need-based financial aid (scholarships and loans), students must do the following:

File the FAFSA (Free Application for Federal Student Aid) at www.fafsa.gov, using Temple University’s federal school code (003371). A FSA ID is required.

Priority filing deadline is March 1st. The Department of Education requires use of the prior-prior year’s income to complete the FAFSA (ie. For the 2020-2021 FAFSA, use 2018 income information).

To be considered for need-based financial aid (LKSOM scholarships and/or various loan programs), it is strongly encouraged parent information is provided on the FAFSA, regardless of your dependency status. Please contact the SFS office with any questions or concerns.

The Office of Student Financial Services may request income documentation to determine need-based loan eligibility. This would include a completed verification worksheet, student W2’s and federal Tax Return Transcript (if applicable) and parent W2’s and federal Tax Return Transcript (if applicable). You can obtain a Tax Return Transcript through the following:

• RECOMMENDED: Use the IRS Data Retrieval Tool through the FAFSA.
• Request online at www.irs.gov (Get a Tax Transcript under ‘Tools’ > Get Transcript by MAIL). Tax Return Transcript will then be mailed
• Request by phone at 1-800-908-9946
• Complete Form 4506-T, available at www.irs.gov under ‘Forms & Pubs’. Mail or fax form to applicable listed contact
• Visit your local IRS office and present government issued photo ID

Lewis Katz School of Medicine Scholarships

The Lewis Katz School of Medicine is committed to providing scholarship support to medical students. Students are given full consideration for institutional scholarships through the admissions process as an entering first year medical student. Students are also continuously given full consideration for additional scholarships throughout each academic year.

The scholarship policy is the following:

1. Only students in good academic standing are eligible for medical school scholarships.
2. Students must adhere to the professionalism standards of LKSOM to continue receiving scholarship funds.
3. Students are not eligible for scholarships while on Independent Study.
4. Students not in good standing with a scholarship will be reviewed by a scholarship committee, including the Associate Dean of Student Support Senior Associate Dean of Education, Director of Student Support and Student Financial Services. (Students may be in good standing without successfully completing all coursework.)
5. Any student who has not successfully completed all academic requirements, including USMLE exams (even though s/he may be in good standing), may lose scholarships for the following academic year.
6. All scholarships with restrictions as set by the scholarship donor(s) will be awarded in strict compliance. Where possible, academic success and financial need will be considered.
7. Scholarships are renewable each year as long as the student continues to be in good academic standing and meets any criteria for donor funds.

Outside Scholarships

Students are encouraged to search and apply for scholarships through outside organizations each academic year. Criteria, amounts, and deadlines will vary upon organization.

The Office of Student Financial Services will notify students of outside scholarship opportunities throughout the academic year.

Debt Management Counseling Services

All new federal student loan borrowers must complete an online entrance counseling at www.studentaid.gov. During this, the borrower’s rights and responsibilities are outlined and explained. An online exit counseling session is also required of all graduating student loan borrowers to reiterate rights and responsibilities, as well as explain various repayment plans.

Per the American Association of Medical Colleges (AAMC) recommendation for ensuring financial literacy for medical students is being taught, a financial literacy program is in place. Through the use of the AAMC’s Financial Wellness tools, two mandatory assignments are required for each student per year. Through the use of the AAMC’s MedLoans Organizer & Calculator (MLOC) and the National Student Loan Data System (NSLDS), loan borrowers will have additional required assignments.

Specific sessions will be offered on topics such as credit basics, financial planner basics, and home buying for physicians throughout the academic year. Although optional, students are encouraged to attend.

The Association of American Medical Colleges (AAMC) is also a helpful resource for financial education for medical students. Resources and tools can be viewed online.

One on one appointments are also always available. 

Bursar’s Office

The Bursar’s office generates student tuition bills each semester, handles tuition payments, and issues refunds to students.

The Bursar's Office issues balance due notifications by e-mail to students and their Authorized Payers when there is a balance due on the student account.  The e-mail notifications are sent from [click-for-email] to a student’s official Temple University e-mail account and the e-mail account of the Authorized Payer in TUPay. 

Locations:

Health Sciences Campus
3440 North Broad Street Philadelphia, PA 19140
Kresge Building, First Floor
215-707-3123
Hours: 9:30 am to 3:30 pm (closed from 1:00 pm to 2:00 pm)

Main Campus
1803 North Broad Street Philadelphia, PA 19122
Carnell Hall, Room 115
215-204-7269
Hours: 8:30 am to 5:00 pm

Information regarding how to make a payment and bill due dates can be found at https://bursar.temple.edu/

REFUND POLICIES:

Tuition Refund Policy

Based on University policy for a tuition refund, students are eligible to receive a full refund of tuition costs for any withdrawal within the first two weeks of a semester. After the first two weeks, only medical or other extreme extenuating circumstances will be taken into consideration and determined by the Associate Dean for Student Support. Should a student take a leave of absence after the first two weeks, they will be placed on Independent Study for one semester to complete courses in that semester upon their return.

Refund of Credit Balances

Refunds caused by excess financial aid and loan funds are issued after the initial disbursement of financial aid, which generally occurs a few days prior to the start of the semester. Refunds are processed continually during the semester as aid is paid to the student account.

It is strongly encouraged students sign up for direct deposit for any anticipated refunds while attending LKSOM. Students can sign up for direct deposit through the TUPortal under ‘Student Tools’ (TUPortal > Student Tools > Student Accounts under TUPay > Student Choice Refunds).  Checking or savings account and routing information will need to be entered. If direct deposit is not set up, a paper check will be mailed. In order for a refund to process, a student must have an accurate mailing address on file with Temple University.

Additional information can be found here.

Employment and Federal Work Study

In general, it is discouraged for a medical student to work and depend on wages from employment during the academic year. This is especially true during the first year, when the heavy study load and accelerated educational programs require a major adjustment for all new students. Students are encouraged to consult with their faculty advisor if considering employment during the academic year. If employment is feasible from an academic standpoint, the SFS Office may be able to assist.

Summer employment and research opportunities paid through federal work study funds are available in the summer following the first year through the Office of Student Support. During the spring, students will be informed of the various opportunities and process. For more information, contact the Office of SFS at [click-for-email]. 

In-School Deferment of Previous Loans

In order to defer a previous loan, a lending institution may request written verification of your enrollment. Contact Denise Green in the Office of Student Records, 328 MERB, or by e-mail at [click-for-email] for assistance. 

Return to the Student Support page of the Medical Student Handbook