How to Apply for Financial Aid

Step 1: Create and FSA ID account.

Go to the FSA ID website and create and FSA ID account. An FSA ID gives you access to Federal Student Aid’s online systems and can serve as your legal signature. If you already have an FSA ID, you do not have to register again.

Step 2: Complete and submit the 2024-2025 Free Application for Federal Student Aid (FAFSA). 

On the FAFSA, students and spouses (if applicable) will have to report the 2022 US income and tax information, this is known as Prior-Prior Year. The IRS Data Retrieval Tool for the 2022 income and tax information is available to use with the FAFSA form.

You must complete a FAFSA every year, if you wish to receive financial aid. 
New York Medical College’s Federal School Code is G02784.

Step 3: Review the Cost of Attendance (Budgets)

Reviewing the COA will help you determine the amount of loans you will need to borrow.

Step 4: Annual Student Loan Acknowledgement

This new process allows students to view how much they currently owe in federal student loans and to acknowledge that they have seen this amount.

Please access the StudentAid.gov website to complete the Annual Student Loan Acknowledgement.

Step 5: Master Promissory Note(s) 

STUDENTS who have not received Direct Unsubsidized loan funds, must complete a Direct Subsidized Loans/Direct Unsubsidized Loans Master Promissory Note. Please access the Student Loan Website to complete the Direct Subsidized Loans/Direct Unsubsidized Loans Master Promissory Note. You will need your FSA ID to log in.

If you are accepting more than the maximum Direct Unsubsidized loan amount of $20,500, you will also need to borrow the Direct PLUS Loan for Graduate/Professional Students. The approval of the Direct PLUS Loan is based on the student not having an adverse credit history

STUDENTS who have not received Direct PLUS loan funds, must complete a Direct PLUS Loan Master Promissory Note for Graduate/Professional Students. Please access the Student Loan website to complete the Direct PLUS Loan Master Promissory Note. You will need your FSA ID to log in.

Step 6: Entrance Counseling(s)

BORROWERS who have not completed an Entrance Counseling must access the Student Loan website to complete the federal mandated Entrance Counseling. As a graduate or professional student, the Entrance Counseling will fulfill counseling requirements for the Direct Subsidized Loans/Direct Unsubsidized Loans and Direct PLUS Loans.  

Step 7: Financial Aid Offer Notification

Once you have submitted the appropriate accurate financial aid paperwork, your financial aid eligibility will be determined. You will be notified via email, to access the TouroOne Portal, with instructions on how to accept, decline, or reduce your offered aid. The Offer Notification will be sent to your official NYMC email account.

Provide any additional documents requested by the Office of Student Financial Planning.

It is the student’s responsibility to submit the required financial aid paperwork to the Office of Student Financial Planning, by the financial aid deadline and to follow up if financial aid expected to be received was not awarded or disbursed.