Financial Information

Tuition and Fees

For specific and updated PHSU tuition and fees please refer to: stlouis.psm.edu. ALL TUITION AND FEES ARE PAYABLE ON OR BEFORE REGISTRATION.

Ponce Health Sciences University reserves the right to increase the tuition or other fees as deemed necessary.

Change in Tuition Cost

Tuition is set by the Ponce Health Sciences University Board of Directors and is subject to change without advance notice. It is the students’ responsibility to arrange to pay their total tuition, fees and full charges in order to complete their registration if they wish to be admitted to classes. Students who may be eligible for financial assistance should consult the financial aid office as early as possible.

Refund Policy

Semester

Non-attendance and withdrawal after the add/drop period will be subject to the reimbursement policy established by PHSU which reads as follows:

• The Enrollment Deposit Fee guaranteeing registration is non-refundable.
• Students withdrawing prior to the start of classes will receive a complete refund for tuition and fees.
• Fees are non-refundable once the term has commenced.
• Students withdrawing on or before the Friday of the second week of classes will receive an 75% refund of tuition.
• Students withdrawing on or before the Friday of the sixth week of classes of the semester will receive a 50% refund of tuition.
• Students withdrawing on or before the Friday of the tenth week of classes of the semester will receive a 25% refund of tuition
• After the tenth week of class, tuition is non-refundable.

Trimester

Non-attendance and withdrawal after the add/drop period will be subject to the reimbursement policy established by PHSU which reads as follows:

• The Enrollment Deposit Fee guaranteeing registration is non-refundable.
• Students withdrawing prior to the start of classes will receive a complete refund for tuition and fees.
• Fees are non-refundable once the term has commenced.
• Students withdrawing on or before the Friday of the second week of classes will receive an 75% refund of tuition.
• Students withdrawing on or before the Friday of the fifth week of classes of the semester will receive a 50% refund of tuition.
• Students withdrawing on or before the Friday of the eighth week of classes of the semester will receive a 25% refund of tuition
• After the eighth week of class, tuition is non-refundable.

The table below provides an example of an institutional refund calculation for a student who withdraws during a term beginning on 8/1/2022 and ending on 12/16/2022. The example tuition cost of the term is $42,010.

The student is responsible for the outstanding balance in their account, after applying any financial aid for which they are eligible. Tuition refunds will be made within 45 days after the date the institution determines that the student withdrew. All tuition and fees are due on or before the first day of classes.

The Accounting Office is responsible for applying this policy to applicable student accounts.

Military Service Refund Policy

A student who withdraws from PHSU as a result of the student being called into active duty in a military service of the United States may elect one of the following options for each program in which the student is enrolled:

1. A full refund of any tuition and refundable fees for the academic term in which the student is enrolled at the time of withdrawal. No refund will be given for any academic term the student has completed.
2. A grade of incomplete with the designation “withdrawn-military” for the courses in the program in which the student is enrolled at the time of withdrawal and the right to re-enroll in those courses, or substantially equivalent courses if those courses are no longer available, not later than the first anniversary of the date the student is discharged from active military duty without payment of additional tuition and fees other than any previously unpaid balance of the original tuition, fees and charges for books for the courses.
3. The assignment of an appropriate final grade or credit for the courses in which the student is enrolled at the time of withdrawal, but only if the instructor or instructors of the courses determine that the student has: Satisfactorily completed at least 90 percent of the required coursework; and demonstrated sufficient mastery of the course material to receive credit for the course.

Refunds for new or returning students will be made within thirty (30) days of the date the institution determines the student has withdrawn. Withdrawal for purposes of this policy applies to both student-initiated withdrawal and any administrative withdrawal.

Title IV Refund Policy

The University will determine the percentage of attendance and the amount of financial assistance that the student did not earn when a student withdraws, does not return from an approved leave of absence, is expelled, or otherwise fails to complete the enrollment period for which the student was charged. The Department of Education Title IV funds will be returned according to the federal regulations and within a forty-five (45) period from the official date of determination of when the student ceased to attend.

Financial Aid

Financial Needs Analysis

The amount of funds allocated to the student depends upon the economic need that is determined by a process known as “needs analysis”. This procedure has two steps:

• Step 1 involves the evaluation of the data presented in the Federal Application for Student Aid (FAFSA) by the U.S. Federal Government to determine the “Expected Family Contribution” (EFC). The EFC is the amount that the student should contribute towards his/her cost of education.
• Step 2 consists of the following basic calculation: “Cost of Attendance” minutes “EFC” equals Financial Need.

The student cannot receive financial assistance in excess of the determined “Financial Need”. If according to this formula, the student does not demonstrate financial need, the student may only qualify for non-need-based programs of financial aid. The total need based and non-need based funds allocated cannot exceed the total educational budget.

Awarding Funds: Upon review of the ISIR and after resolving any “C” codes or verification requirements, if necessary, the Staff of OSFA determines the financial need of each applicant.

The OSFA prepares an Award Letter that indicates the amount and type of Financial Assistance the student may receive. Those applicants that will be considered for scholarships are presented to the Scholarship Committee chaired by the Dean of Enrollment Management and Student Success. Scholarships are considered financial assistance and are included in the Award Letter as aid received.

Notification of Award: As soon as the awarding process is completed, the Award Letter is forwarded to each student. The Award Letter indicates the type and amount of the award allocated, the total COA used as determined by the OSFA, and the EFC No response is required if the student accepts the awards. The student must respond within ten days if they wish to change or refuse any of the awarded aid.

Disbursement of Funds: The student is requested to authorize PHSU to credit the student’s account with any funds received on their behalf to cover tuition, fees, and other institutional charges. Funds received in excess of amounts due PHSU are disbursed either as a check or, if requested, an electronic deposit to a checking or saving account within 14 days of receipt.

Disbursement of funds for semester programs is at least once per semester. For trimester programs, disbursement is at least once per trimester. Certificate Programs receive disbursements at the beginning and mid-point of program year.

Cost of Attendance

The Cost of Attendance (COA) is an annual approximation of the expenses that a student will incur for their particular academic year and program. All the expenses that comprise the COA include the student’s program of studies, academic year, tuition and fees and other institutional expenses, plus a reasonable amount for living expenses.

Applying for Financial Aid

Application Procedure: The applicant must complete the following documents by the specified deadline date:

1. All Students:
   1. Complete the FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA).
   2. Submit PHSU required forms to the Office of Student Financial Aid by the deadline date.
2. New Entrance Students:
   1. Complete the Entrance Counseling and Master Promissory Note prior to the disbursement of the student loan funds. If you cannot access the website, please arrange a personal interview with a staff member of the OSFA.

To receive financial assistance the student must:

1. Be a U.S. Citizen or eligible non-citizen.
2. Must be enrolled at least half-time
3. If currently enrolled, must maintain satisfactory academic progress according to the norms established by the University.
4. Cannot be in Default on any federal student loans or owe any refund on any federal student grant program at any previously attended institution.
5. Have a valid Social Security Number
6. Not be convicted of an illegal drug offense.
7. Sign a statement on the Free Application for Federal Student Aid (FAFSA) certifying that the student will use the federal student aid received for education purposes only.
8. Demonstrate financial need for any need-based program
9. Effective July 1, 2012 - Must have a high school diploma or General Education Certificate (GED).

Students must complete the FAFSA in order to determine funding eligibility.

Financial Aid Available

Institutional Scholarships to cover educational expenses are available for distribution. Annually Institutional funds are allocated to distribute among students. To be considered for available institutional funds, the student should email psmfinstu@psm.edu.

The United States Department of Education offers several major financial aid programs to help students finance their education. For those who qualify, PHSU participates in the following:

Federal Work-Study (FWS): Federal Work-Study provides part-time employment for students with financial need, allowing them to earn money to help pay educational expenses. The program encourages community service work and work related to the student’s course of study. Jobs are limited, and students must maintain a minimum required GPA and attendance percentage to qualify. FWS funds are available for undergraduate as well as graduate students. FWS funds are awarded by the OFSA.

William D. Ford Federal Direct Loan Programs: The Direct Loan program consists of low-interest loans for eligible students to help cover the cost of education. Eligible students may borrow directly from the U.S. Department of Education. Direct loans include Direct Subsidized, Direct Unsubsidized, Direct PLUS loans, and Graduate PLUS Loans. Undergraduate students may be eligible for Direct Subsidized, Direct Unsubsidized or a dependent student’s parents’ may be eligible to borrow a PLUS loan to help pay for the student’s education. Graduate students may be eligible for a Direct Unsubsidized Loan or a Grad PLUS loan. To apply for Federal Student Loans, the applicant must fill out the FAFSA and sign a Master Promissory Note (MPN). Federal Direct Loans have to be paid whether or not you complete the program.

We recommend that students monitor their Federal Loan borrowing history online at nslds.ed.gov/nslds_SA

The student applies for educational loans with our technical assistance. The interest rate of these loans is usually less than private loans. As of July 1st, the interest rate is set by the federal government annually. The most frequently processed loans are:

1. Federal Loan Changes
   ​The Budget Control Act of 2011 was passed on August 2, 2011. Some of the provisions in the act impact federal student loan programs offered at Ponce Health Sciences University. These changes WILL NOT affect the amount of loan funding available. However, loan funding will become more expensive. Here are the key provisions affecting future federal graduate and undergraduate student loans:
   1. Graduate and Professional Students Only: Beginning July 1, 2012, all graduate and professional students will lose the interest subsidy on the Subsidized Stafford loan. The graduate Stafford loan program will become entirely unsubsidized, which means the loan will accrue interest while a student is in University. These changes will not affect the annual and aggregate borrowing limits. The maximum amount a student can borrow will remain at $20,500 per academic year.
   2. Loss of “origination fee rebate” affecting Stafford, Grad PLUS: Beginning July 1, 2012, the full fee will be charged.
   3. Loss of interest rate reduction: The last change is the loss of the .25% interest rate reduction if you pay your loans electronically while in repayment.
2. Unsubsidized Stafford Loans
   The fixed interest rate is established annually by the Federal Government, and the Federal Government does not pay the interest while the student is at the university. However, as an Institution participating in the previous HEAL program, the students in our MD, PsyD, MPH, PhD and DrPH programs may be eligible for an additional loan award.
3. Aggregate Amount of Loans
   Doctoral students may obtain an aggregated $224,000 in Stafford Loans of which $65,500 can be Subsidized and $158,500 Unsubsidized. Graduate students have an aggregated limit of $138,500, of which $65,500 are Subsidized Stafford Loans. The aggregated debt limit includes ALL LOANS, both undergraduate and graduate levels.
4. Graduate Plus Loan
   There are no fixed annual or aggregate loan limits. A graduate or professional student may be awarded a PLUS loan for up to the student’s cost of education minus other financial assistance. Credit will be verified, interest begins to accrue upon disbursement. Interest rate and Origination fee are set annually by the Federal Government and shared with the applicant during the application process on the website: studentloans.gov. Repayment begins immediately, but you may obtain a deferment while enrolled in the university. PLUS, loans have no grace period, so repayment begins upon graduation or withdrawal from the university.
5. Alternative Loans
   There are several alternative loans programs for the health professional students. These are credit- based loans that may be used to supplement other types of financial assistance. The loan amounts vary from $10,000 to $20,000 or higher. The interest rate is variable, accrued while in university and usually based on the current “Prime Rate” plus a lender’s predetermined interest rate. Repayment may be up to 20 years. Alternative Loans sometimes provide funds to complete the remaining need after the student is awarded other financial aid. Due to the high interest rate that these loans represent, the student should seek these loans as a last resource to their financial need. The school does not have any preferred lender, therefore, openly processes those requests presented by any of our students.

Financial Aid Policies-General Policies

1. Awards will be made to those applicants that meet the Satisfactory Academic Progress policy of the University as well as basic eligibility requirements.
2. Students requesting consideration for institutional, state and or any other scholarship program must provide confidential parents’ economic information on their FAFSA, if dependent, plus the student’s economic information as well as the PHSU application. Documentation to collaborate the parents’ or student’s information must be presented. Independent students must only provide their financial information.
3. Cancellation of any loan will result if the student fails to sign the Master Promissory Note (MPN), the Disclosure Statement or any other document required by the lending institution.
4. Cancellation of an award may result if the student and/or parents misrepresent and or provide false or incorrect information on any document. Since PHSU uses the FAFSA for establishing the student’s aid eligibility, and allocates funds received from the U.S. Federal Government, any misrepresentation may be subject to sanctions under provisions of the United States Criminal Code.
5. The student provides authorization for funds to be credited to the student’s account.
6. Funds received in excess of tuition and fees, creates a credit balance. The credit balance will be paid within 14 days from the date of disbursement.
7. Refunds due will be made according to PHSU’s refund policy for U.S. Department of Education Title IV and/or non- Title IV funds.
8. Students must report any information that modifies their financial data, such as a change in personal and/or family income, marital status, etc. If this update results in a change of eligibility and award, the Staff of OSFA shall communicate the same to the student.

Privacy of Information

All activities and or documents submitted on behalf of an applicant for financial aid are strictly confidential. Without the written consent of the applicant, no information is released to anyone according to the FERPA regulations adhered to at PHSU with the exception of authorized personnel. If parents request non-disclosure, a student does not have accessibility to the documents submitted by the parents. PHSU does have the right to disclose information relevant to the determination of the financial aid for which a student has applied or received, and or the conditions set forth by the specific financial aid program.

Leave of Absence

One approved Leave of Absence (LOA) will be considered within any twelve-month period commencing with the first day of the leave and not to exceed 180 days. Students with an approved leave of absence are eligible for an “In-University Deferment” to allow delayed payment of educational loans. A student who takes an unapproved LOA is not given an “In-University Deferment”. The student not returning on the specified termination date of the LOA will have lost the “In-University Deferment” status and the “Six Month Grace Period” would have begun retroactively from the first day of the leave of absence. The student will be administratively withdrawn, and their status will be reported to the US Department of Education.

Student Financial Aid

Financial aid is available to those who qualify. The Office of Student Financial Aid (OSFA) is under the direct supervision of the Vice President for Student Affairs. The primary objective of the OSFA is to assist the students in reaching their educational career goals by providing information and technical assistance on the various sources of student financial assistance.

Technical assistance is provided in the completion and processing of all relevant financial aid applications for the federal and/or local government, as well as any private funding sources.

The staff of the OSFA, works as a team, to offer the following basic technical services to the students: Information about the diverse federal financial aid programs;

• Information about the scholarship/grants available at PHSU;
• Technical assistance in the completion of all forms/applications, including the Free Application for Federal Student Aid (FAFSA) (original and FAFSA renewal);
• Assistance in applying for Student Loans, as well as any other available aid;
• Entrance counseling for new borrowers;
• Exit counseling for students graduating and/or withdrawing; Debt Management and Financial Counseling;
• Inceptia

Military Students

The Registrar’s Office partners with the Office of Student Success as the liaison between veteran students at PHSU-St. Louis and the Department of Veterans Affairs. We process VA forms required for educational benefits, advise student veterans on procedural requirements, and certify the enrollment of PHSU-STL student veterans to the VA.

Any questions or concerns regarding eligibility should be directed to the VA, who is solely responsible for determining eligibility. They can be reached directly at 1-888-442-4551 or online at gibill.va.gov.

Ponce Health Sciences University will not impose any penalty, including late fees, access to classes, libraries, or other institutional facilities, or require Chapter 31 or 33 students to borrow additional funds to cover any balance, due to a delay in the disbursement of payment by the U.S. Department of Veteran Affairs in accordance with Veterans Benefits and Transition Act of 2018.

If you served on Active Duty, you might be eligible for education benefits offered by the Department of Veterans Affairs. For example, the Post-9/11 GI Bill provides financial support for education and housing expenses to individuals with at least 90 days of aggregate service after September 10, 2001, or individuals discharged with a service connected disability after 30 days. You must have received an honorable discharge to be eligible for the Post 9/11 GL Bill.

If you are currently serving in the military, you may be eligible for funding offered through the Department of Defense Tuition Assistance program. Check your eligibility status and the amount for which you qualify with your Service prior to enrolling.

If you are the spouse of child of a service member who is serving on active-duty Title 10 orders in the paygrades of E1-E5, O1-O2, or W1-W2, you may be eligible for financial assistance from the Department of Defense for education, training, and/or the occupational license and credentials necessary for portable career.

If you are the spouse of child of a service member, you may be eligible for transfer of the service member’s Post-9/11 GI Bill benefits to you.

Veteran Administration: Required VA Forms
If you are a new or transferring student who is eligible to receive VA benefits and have already applied for these benefits through the VA’s website at VA.gov, please submit the following documents to our office for enrollment certification:

1. Certificate of Eligibility from the VA

Once paperwork has been submitted to PHSU’s VA School Certifying Official, the courses in which you are seeking certification for will be evaluated by the Registrar. Enrollment certification with the VA generally takes place within 30 business days from beginning of the term.

Students who receive Veteran Affairs (VA) educational benefits must understand VA benefits, including tuition and fees, the monthly housing allowance, book stipend, and Yellow Ribbon benefits are based in whole or in part on the number of credit hours certified. The school is required to monitor and report enrollment status to the VA. Accordingly, any violation of the school attendance policy will result in the adjustment or termination of VA benefits. Adjustments in enrollment will likely affect payment of VA benefits, and reductions in enrollment may result in a debt to the VA for any education benefits already received. The school will report enrollment as follows:

• VA Students who officially withdraw, the actual last date of attendance (LDA) must be determined and reported.
• VA students who are administratively withdrawn or stop attending without officially withdrawing, the actual last date of attendance (LDA) must be determined and reported.
• VA students who complete the term with all non-punitive “F” and/or non-punitive grades, the school will determine and report the actual last date of attendance for each course.