Below are the steps you'll need to follow to apply for financial aid. You must apply for financial aid every year you wish to receive aid.
The federal financial aid priority deadline is May 1. Completing the financial aid process after the priority deadline may delay your scheduled disbursement.
If you will be applying for private student loans, we strongly encourage you to start that process well in advance of the above deadlines. Review the Private Loan Information section of our website for detailed information about the private loan application process.
It is recommended that student utilize federal aid eligibility first, before considering private student loans.
Step 1: Create an FSA ID account.
Go to the FSA ID website and create an 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 2026-2027 Free Application for Federal Student Aid (FAFSA).
On the 2026-2027 FAFSA, students (spouses and parents, if applicable) will have to report income from the Prior Year, which is the 2024 US income and tax information.
You must consent to use the Direct Data Exchange (DDX) to import 2024 IRS income and tax information onto the FAFSA. The DDX is available to use within FAFSA application. Consent must be provided even if you did not earn income in 2024. If you do not provide consent, your FAFSA will be rejected, which will delay the processing of your aid and disbursements.
You must complete a FAFSA for every year 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. The current COA section represents the 2025-2026 academic year (Summer 2025, Fall 2026, and Spring 2026) and will be updated with the 2026-2027 COA details by mid-April.
Step 4: Annual Federal Student Loan Acknowledgement
This 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) for Federal Direct Loans
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) for Federal Direct Loans
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.
Step 8. Recommended Steps to Apply for a Private Student Loan
1. Complete steps 1-7 above first to utilize federal and institutional funding that you may qualify for.
2. Determine how much you need to borrow. Review your finalized Cost of Attendance (which will be updated on our website by the middle of April).
3. Research and Compare Lenders.
4. Check your credit (and Cosigner Options)
5. Apply Online with the Lender
6. Review Your Approval and Loan Terms
7. NYMC Will Receive a Certification Request for your private loan. NYMC will begin reviewing certification requests in Mid-May.
8. Disbursement of private loan funds will occur no earlier than the scheduled Disbursement Date for your class.
The Private Loan Information page will provide you with essential information regarding private student loans. Please review this page very carefully. If after you review all the information provided, you have questions about the process, you can always contact our office directly.
