Financial Aid

How to Apply

The first step is to decide which types of aid you are seeking:

 

Loans Only 

Submit the following forms by May 2 to ensure timely processing: 

1. Free Application for Federal Student Aid (FAFSA) to federal processor* 

2. Einstein Financial Aid Questionnaire to office of student finance

 

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Loans and Einstein Need-Based Awards 

Submit the following forms by the deadlines below: 

 

 
Entering
Students
Continuing
Students
Free Application for Federal Student Aid (FAFSA) to federal processor*  March 14  May 2 
CSS Profile Application to the College Board  March 14  May 2 
Einstein Financial Aid Questionnaire to office of student finance   March 14  May 2 
 

* International students (those who are not U.S. citizens or permanent residents) are not eligible for federal aid and should disregard the FAFSA requirement.

** For admitted students: If 2013 tax forms are not available by March 14 please submit complete 2012 tax forms by March 14, and complete 2013 tax forms by the end of April. Applicants to the M.D. program DO NOT need to submit tax returns until they are admitted.

When significant changes have occurred in a student's personal circumstances (e.g., student's marriage or divorce, change of spouse's status, etc.) or when a student receives awards from other sources, the student will be asked to provide additional information since eligibility for certain types of aid may be affected.

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Deciding this will determine which forms you need to submit, and when. If you are uncertain about whether you should apply for need-based assistance, please refer to the information below for additional information or contact our office.

Please note that students seeking consideration for Einstein awards are encouraged to apply by the deadlines below, and that award decisions for entering students are made only after a student has been offered admission. Award letters to recipients of need-based institutional funds will include information about the financial aid package for the 2014-15 year of study at Einstein. Since Einstein grant/loan determination is need-based, students must reapply annually and there is no guarantee that awards will be renewed in subsequent academic years.

 

The Process

Scroll through the tabs to find important information about FAFSA, fill out a questionnaire, view your CSS profile and more. Use the Quick Links navigation to get where you want to go!

Einstein Financial Aid Questionnaire

All admitted and continuing students applying for any type of financial aid (loans and/or grants) must complete this form, which is available online (see below) or from the office of student finance.

Admitted Students: Admitted students applying for need-based Einstein aid (grants and institutional loans) should return the completed form by March 14 or immediately after admission. Admitted students who plan on enrolling in the entering class and are applying only for loans should submit it by May 2.

Continuing Students: Continuing students applying for any type of aid (loans and/or grants) are asked to submit this form by May 2, along with all other required documents.

 Einstein Financial Aid Questionnaire 2014-2015 

Free Application for Federal Student Aid (FAFSA)

The FAFSA is the need analysis form used to establish eligibility for federal student aid that is available to U.S. citizens and permanent residents. Students seeking funding from Stafford loans and Graduate PLUS loans must complete it annually.

You are encouraged to complete your FAFSA online at www.fafsa.ed.gov. Students are able to apply for and receive a PIN when completing a FAFSA on the Web or when applying for a PIN on the department's PIN website (www.pin.ed.gov). First-time PIN applicants will instantly receive a conditional PIN that will allow them to electronically sign their FAFSAs on the Web. The conditional PIN can be used only to sign the original application that students are completing at the time they apply for the PIN. After receiving the PIN, applicants will be able to change the PIN to a number that is meaningful to them. Please refer to the FAFSA website for additional information.

This process is dramatically quicker than sending in the paper FAFSA. While a PIN is not required to fill out and submit a FAFSA, it is the fastest way to sign your application.

If you prefer to sign on paper, you must print out and send the government a signed signature page immediately upon completing the online application. A PIN will still be sent to you for future convenience once your application is processed. Students are able to obtain a paper FAFSA by calling the Federal Student Aid Information Center at 1.800.433.3243. Once the completed paper FAFSA form is submitted, processing takes about four weeks. The paper form requires the Federal School Code for Albert Einstein College of Medicine at Yeshiva University, which is G09895. Please note that the FAFSA website lists Einstein under the following: Yeshiva University, Bronx Campus.

For graduate students, parental information is not used in determining eligibility for federal funding. Therefore, you do not need to include your parental information on the FAFSA, even if you are applying for need-based Einstein grants/loans.

Once the FAFSA is processed, you will be sent a Student Aid Report (SAR) containing the results of the federal need analysis. If you need to correct the information you submitted, make the corrections to your paper SAR and return it to the federal processor (if you completed a paper FAFSA), or make your corrections online (if you completed the FAFSA online).

Remember, the FAFSA is not a loan application. You will also need to obtain, complete and submit to us your federal Stafford and/or Graduate PLUS loan application Master Promissory Note(s).

We advise entering students applying for Einstein aid (grants and institutional loans) to submit the FAFSA to the processor by March 15, even if they have not received an offer of admission yet. Continuing students who are applying for Einstein aid (grants and institutional loans) should submit the FAFSA by May 3. Although the office of student finance processes loans throughout the academic year, we urge all loan applicants to file their FAFSA and their loan applications by May 3 in order to ensure timely processing and the arrival of loan funds for the payment of fall term expenses. Otherwise, payments to Einstein may be considered late.

Note: If you are an international student (not a U.S. citizen or permanent resident), you are not eligible for federal aid and you may disregard the FAFSA requirement. 

CSS Profile Application

M.D. students applying for Einstein institutional aid (need-based grants and institutional loans) are required to submit financial information using the CSS Profile application. To apply online, visit the College Board's website (CSS Profile). If you have questions about completing or submitting the application, you are encouraged to contact CSS Profile at 800.239.5888 or help@cssprofile.org.

To be considered for a need-based grant or institutional loan, you must submit information from you, your spouse (if applicable), and both parents, regardless of your age, marital status, or dependency status for tax purposes. If your parents have separate households (separated, divorced, or unmarried), then you must provide complete financial information for each parental household before submitting the information. Remember that an application for institutional aid cannot be reviewed until all required information has been received.

Applicants for admission who wish to be considered for need-based institutional aid should submit the CSS Profile application by the March 15 deadline, even if they have not received an offer of admission yet. Continuing students must submit the CSS Profile application by May 3. While late applications from students will be reviewed once completed, grant funds may be exhausted by that time.

Income Tax Forms

By March 15, first-year grant applicants (Class of 2018) who have been admitted must submit complete copies of signed 2013 federal income tax forms (with all schedules, attachments and W-2s) for all individuals included on the CSS Profile application. We strongly encourage applicants and their families to complete their tax forms early. If it is not possible to do so, you can submit complete 2013 tax forms by March 15 to be considered for a need-based grant. To confirm a grant, complete 2013 tax forms must be submitted by the end of April. Members of the office of student finance review tax forms to confirm and make any necessary adjustments to financial aid awards. Therefore, please keep in mind that the late submission of 2013 tax forms will result in late notification of any alterations to your award. Applicants to the M.D. program DO NOT need to submit tax returns unless they are admitted. 

Continuing students will not be reviewed for need-based aid (grants and institutional loans) until complete tax returns are received by the office of student finance. Continuing students who are applying for need-based awards must submit required tax forms for all parties on the CSS Profile application by May 3.

All tax forms must be signed and dated, and all schedules, attachments and W-2 forms must be submitted. If the applicant or his or her parents or spouse owns a business, complete business returns also need to be included, as well as any partnership and/or "S" Corporation returns. 

Awarding Process

The office of student finance attempts to assemble a package of awards to meet each student’s need based on the availability of funds. The financial aid offer is referred to as the financial aid package because it typically consists of scholarships, grants and loans. Although Einstein is committed to helping as many students as possible, funds for assistance are limited. Applicants should be aware that not every student will receive financial assistance equal to his or her demonstrated financial need.

The office of student finance administers available funds uniformly and equitably in accordance with the existing regulations and policies.

New applicants should also be aware that not every student who demonstrates financial need will be given institutional scholarship assistance. Given the large number of applicants for scholarship assistance and the limited scholarship aid available, priorities are established.

Financial aid packaging for candidates for admission begins in March. Notification of financial aid awards begins in the last week of March and continues through the middle of April.

Loan Applications

If you are applying for educational loans, it is suggested that you apply online at www.dlenote.ed.gov:

  • For the Federal Direct Stafford Loan, if you are a first-time borrower at Einstein you must complete your Federal Direct Loan Master Promissory Note (MPN) at www.studentloans.gov. Once our office has downloaded the copy of your MPN, we will certify your eligibility for the loan and will forward the certification to the federal government. Continuing students for whom the Einstein student finance office certified a Federal Direct Stafford loan in a prior year do not need to submit a new MPN.
  • For Federal Direct Graduate PLUS loans, the student must complete the Grad PLUS loan application. First-time borrowers at Einstein need to complete a Federal Graduate PLUS Loan Master Promissory Note. We will certify your eligibility for the loan and will forward the certification to Direct Loan. Continuing students for whom the Einstein student finance office certified a Federal Direct Graduate PLUS loan in a prior year do not need to submit a new MPN. Since Graduate PLUS loans are credit-based, you must reapply with Direct Loan each year for this federal education loan.
  • For private education loans, applying online or by telephone will allow you to learn as early as possible if your credit application has been accepted, and we strongly encourage students seeking credit-based loans to avail themselves of the quick approval process offered by many lenders. Once you have completed the loan application with your lender of choice, submit it to the office of student finance for certification. You must reapply each year for private education loans. Please be aware that the College Cost Reduction and Access Act of 2007 contains a section (401) pertaining to Federal Loan Forgiveness for Public Service Employees. The federal loan forgiveness provisions require borrowers to have obtained direct loans or to have consolidated their federal loans through the Federal Direct Consolidation Program. As such, we advise that borrowers carefully consider the available education loan programs (private versus Graduate PLUS) to ensure that their individual loan borrowing fits into their long-term financial planning. While borrowing through private education loan programs may provide better loan terms, it also may limit your options should you decide one day to use the Federal Loan Forgiveness for Public Service Employees program. While we encourage loan borrowers to refer to the detail of the actual legislation in determining all relevant issues, the office of student finance is available to address individual concerns.

As a reminder, loan applications should be submitted to the office of student finance by May 3 to ensure timely processing. We cannot be responsible for delays in receiving funds if loan applications are received late, or if applications cannot be certified because of missing documents. In addition, students who need loan funds to pay their Einstein bills are urged to complete their loan applications early. Penalties assessed for late payment of the student bill will not be waived for students who complete their loan applications late.

 

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