General Information
Due to the number of applicants to the University of Pennsylvania School of Veterinary Medicine, we are unable to answer individual questions regarding financial aid unless you have accepted an offer to attend the School.
Detailed information regarding the financial aid process may be found at: http://www.sfs.upenn.edu/.
Other helpful links include:
- U.S. Department of Education
- Free Application for Federal Student Aid (FAFSA)
- Pennsylvania Higher Education Assistance Agency
There are three types of loans for which you may apply to finance your education at the University of Pennsylvania School of Veterinary Medicine:
** Federal Stafford Loan ($40,500) each year. Each student is guaranteed to receive this funding by completing the FAFSA on line and acceptance into veterinary school. You will receive $40,500 each year, during the four years of your veterinary education.
** Perkins up to $6,000 and/or Health Profession Loan up to $4,500. Students must have very high need and must submit parent and student tax information. Eligibility is determined by your parent’s assets (income, property, savings), and your assets. Regardless of your age or marital status, if you wish to apply for a Perkins or a Health Profession Loan, you MUST complete the Penn Financial Aid Application Form and provide your parent’s tax information.
**Alternate Loans – these loans are used if your Educational Budget cannot be met by the above loans and include the Federal Graduate PLUS loan or any other private alternative loan of your choice.
All students MUST submit a Free Application for Federal Student Aid (FAFSA) form between January 1 and May 1 each year. You may do this via the website at: www.fafsa.ed.gov. The College Code for the University of Pennsylvania is 003378. A FAFSA must be completed and filed every year in order to receive Federal Stafford Loans.
If you are applying ONLY for a Stafford Loan, you do not need to complete any other form nor provide parent information when you complete your FAFSA. Simply complete the FAFSA on line; students applying for Stafford Loans are eligible for up to $40,500 each academic year, for a period of four years.
After completion of your FAFSA, you will receive, in late May, further instructions from the University of Pennsylvania’s Office of Student Financial Services. The letter will advise you of the next steps regarding the financial aid loan process.
If, in addition to your Stafford Loan, you wish to have your eligibility determined for need based financial aid (Federal Perkins Loan up to $6,000, and/or Health Profession Loan up to $4,500) you must return the Penn Financial Aid Application form, with student and parent tax return and W2 and, if applicable, prospective spouse or spouse tax return and W2. IF YOU WISH TO APPLY FOR PERKINS AND/OR HEALTH PROFESSION LOANS, YOU MUST SUPPLY PARENT AND SPOUSE INFORMATION REGARDLESS OF AGE OR MARITAL STATUS.
If you are applying for Perkins and/or Health Profession Loans, submit the Penn Financial Aid Application form, Tax Returns and W2's to Ashra Markowitz. Please send the entire package – incomplete or partial applications will be returned and your loan ultimately delayed.
Every student will receive a Federal Stafford Loan ($40,500) each year, for four years, upon completion of the FAFSA. THE FEDERAL STAFFORD LOAN IS GUARANTEED TO EACH STUDENT, so you may be assured of receiving this funding upon your acceptance to veterinary school.
We regret that the University cannot inform you of your eligibility for Perkins and/or Health Profession Loans, should you apply, until you have accepted our offer to attend our School, completed the Student Data Form and returned your $500.00 deposit. However, again, your Stafford Loan funding in the amount of $40,500 each year for four years is guaranteed. If you apply for Perkins and/or Health Profession Loans and are denied, you may apply for the Federal Graduate PLUS loan program, or any other private alternative loan of your choice.
We recommend that you read the University of Pennsylvania Student Financial Services website at http://www.sfs.upenn.edu for online options available to help you decrease paperwork and track your loan history. The necessary paperwork takes a minimum of eight weeks, therefore, we recommend you begin the process as soon as you have accepted a place in the Class by returning your Student Data Form and $500.00 deposit. School based scholarship funding for first year students is very limited, however, School scholarships are available, depending on need and academic merit, to students in the third and fourth year.
Ashra P. Markowitz, M.S.
Assistant Dean for Student Affairs
Financial Aid Officer
ashra@vet.upenn.edu
215.898.3525
If You Do Not Wish To Include Parents Information
If you do not wish to include parents financial information, you are eligible only for Stafford Loans and alternative loans. Stafford Loans may be obtained through different lenders with different fees and repayment benefits. Currently, veterinary students may borrow up to $40,500 annually in Stafford Loans. There are other low-interest rates loans, Perkins Loan and Health Professions Loan, which are distributed ONLY to students providing parental information. This is necessary because funding is limited for these two loan programs.
UNIVERSITY OF PENNSYLVANIA
SCHOOL OF VETERINARY MEDICINE
FINANCIAL AID CHECKLIST:
IF YOU ARE APPLYING ONLY FOR STAFFORD LOANS ($40,500):
COMPLETE YOUR FAFSA ON LINE BETWEEN JANUARY 1 AND MAY 1.
No other information is necessary. You do not need to include parent information.
In late May, you will receive information from the University of Pennsylvania regarding the next step in the financial aid loan process.
IF YOU ARE APPLYING FOR STAFFORD AND PERKINS/HEALTH PROFESSION LOANS REGARDLESS OF YOUR AGE OR STATUS, YOU MUST:
COMPLETE YUR FAFSA ON LINE BETWEEN JANUARY 1 AND MAY 1
You must include your parent information.
COMPLETE THE PENN FINANCIAL AID APPLICATION
INCLUDE YOUR PARENT’S W2
INCLUDE YOUR W2
INCLUDE YOUR PARENT’S FEDERAL TAX RETURN
INCLUDE YOUR FEDERAL TAX RETURN
INCLUDE YOUR SPOUSE FEDERAL TAX RETUN AND W2
THE *COMPLETE* APPLICATION SHOULD BE SENT VIA REGISTERED MAIL TO:
Ashra Markowitz
University of Pennsylvania, School of Veterinary Medicine, 3800 Spruce Street,
Philadelphia, Pennsylvania 19104
*Incomplete applications will be returned, resulting in delay of loans.
2009 - 2010 Educational Budgets
The student budget includes tuition, fees, books, supplies, allowances for room and board, and miscellaneous (personal items, loan origination fees, and health insurance premiums - health insurance is mandatory). The following are standard student budgets for 2009-2010 for contract students and Pennsylvania Residents. ** Out-of State Resident Tuition with general fee is $41,560 (the remainder of the budget is the same as Contract Students and Pennsylvania Residents). When a student is accepted as Out-of-State, he/she will remain as an out-of-state student for the entire four years.
| |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
| Tuition & General Fee* |
$32,976 |
$32,976 |
$32,976 |
$32,976 |
| Room & Board |
$15,500 |
$15,500 |
$20,664 |
$15,500 |
| Instructional Technology Fee |
$838 |
$838 |
$838 |
$838 |
| Books and Instruments |
$1,500 |
$1,500 |
$1,500 |
$1,500 |
| Miscellaneous |
$6,000 |
$6,000 |
$6,000 |
$6,000 |
| Total |
$56,814 |
$56,814 |
$61,978* |
$56,814 |
* The budget for Year 3 reflects a 12-month budget. The other classes reflect a 9-month budget.
For additional information regarding student financial aid, please visit the university's financial aid Web site at: http://www.sfs.upenn.edu/home/