Financial Aid

Withdrawal Procedure and Refund Policy

PoliciesStudents who withdraw from the College of Medicine by the end of the first week of classes are entitled to a 100 percent refund. Students who withdraw with the written approval of the dean and office of the registrar during the second week of the semester receive a 75 percent tuition refund. Students who withdraw during the third week of the semester receive a 50 percent tuition refund. Students who withdraw during the fourth week of the semester receive a 25 percent refund. No refund is given to a student who withdraws after the fourth week. Fees are not transferable or refundable.

Federal government guidelines require the prorated return of Title IV funds through the first 60 percent of the semester. All federal and state financial aid will be returned in accordance with federal and state guidelines. Students should always meet with the office of student finance before withdrawing.

Leave of Absence
Students who wish to leave the College of Medicine temporarily should contact the office of the registrar for leave of absence information.

Consequences of Being in Arrears
Students who owe balances will have their accounts placed on hold, which will prevent registration for future terms. A late fee of 1.5% will also be assessed monthly on any outstanding balances. In addition, a student is expected to pay for the next semester before entering housing or starting classes. Students who owe money to the College of Medicine or who are in arrears in repaying institutional student loans will not receive a diploma or transcripts from the College of Medicine. Should it become necessary to refer an account to a third party due to nonpayment, the student will be responsible for any collection costs, attorney fees and suit fees.

Please note: If a student has not made arrangements for payment or does not make a promised payment, he or she may be put on hold.

Einstein and Yeshiva University are committed to making studies affordable. Student finance staff members are always available to discuss any matter with students. Call (718) 862-1810 and a member of the student finance staff will be glad to be of assistance.

Rights and Responsibilities

As a student of Albert Einstein College of Medicine, you have the right to know: 

  • The cost of attendance
  • The refund policy for students who withdraw
  • The types of financial assistance available from federal, state and institutional sources
  • Procedures and deadlines for submitting applications for financial aid
  • How financial aid recipients are selected
  • How your financial eligibility was determined, including all resources of the financial aid office that are considered available to you
  • In what manner and when funds will be disbursed to you
  • An explanation/description of each type of award you receive
  • For any student loan you receive: the interest rate, the total amount you must repay, the repayment schedule and length of the repayment period and the cancellation or deferment provisions of your loan(s)
  • Criteria used to determine “satisfactory academic progress” for financial aid purposes
  • How to appeal a decision by the office of student finance concerning your aid award

As a student of Albert Einstein College of Medicine, it is your responsibility to: 

  • Read directions thoroughly, complete all applications accurately and comply with all deadlines
  • Provide all supplemental information or documentation required by the office of student finance or other agency if applicable
  • Read, understand and retain copies of all forms you are required to sign
  • Repay all student loans you receive
  • Complete an entrance interview and an exit interview if you receive federal, state or Einstein loans while in attendance at Albert Einstein College of Medicine
  • Notify the office of student finance of any change in your enrollment status or financial status (including any scholarships or grants received from outside sources)
  • Report any change of address and/or enrollment status to your lender
  • Know and comply with all requirements for continuation of financial aid, including requirements for satisfactory academic progress
 

Satisfactory Academic Progress

In order to be eligible for financial aid from sources other than private or school-funded sources (emergency loans, grants or scholarships provided solely at the discretion of the institution), a student must meet his or her school’s (Sue Golding or the College of Medicine) criteria for good academic standing. Based on regulations promulgated by various federal and state agencies, a recipient of financial aid from those sources may be allowed only one academic year of financial assistance while enrolled under probationary status. If a student is unable to achieve good academic standing at the end of the probationary semester, he or she will be dropped from eligibility for further financial aid until good academic standing is achieved.

 
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