Cooper Medical School of Rowan Univerisity
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Loans

Federal Stafford Direct Loans

Satisfactory Academic Progress (SAP)

In order to receive federal financial aid, students must demonstrate Satisfactory Academic Progress (SAP) toward the attainment of their medical degree.  If a student is not in good academic standing as outlined in the Student Handbook, the Academic Standing Committee will inform the Financial Aid Office about the student’s standing.  SAP is further explained here

The above information is subject to change every July 1 based on Federal law.

* Effective July 1, 2012, the U.S. Department of Education (DOE) will no longer offer the Direct Loan upfront loan processing fee rebate. Please check your disclosure statement for the loan fee % that you will be charged.

 

Federal Unsubsidized Stafford Direct Loan

The above information is subject to change every July 1 based on Federal law.

* Effective July 1, 2012, the U.S. Department of Education (DOE) will no longer offer the Direct Loan upfront loan processing fee rebate. Please check your disclosure statement for the loan fee % that you will be charged.

 

Federal Stafford Direct Loan Aggregate

 

Federal Graduate Plus Direct Loan

The above information is subject to change every July 1 based on Federal law.

* To apply, log onto www.studentloans.gov no earlier than June 1 annually since the credit check is only valid for 3 months and we will not begin to certify these loans until around that time. 
** The Budget Form is required for borrowers who apply for a Federal Graduate Plus Direct Loan or a Private/Alternative Education Loan.
*** Effective July 1, 2012, the U.S. Department of Education (DOE) will no longer offer the Direct Loan upfront loan processing fee rebate. Please check your disclosure statement for the loan fee % that you will be charged.

 

Private/Alternative Education Loan

* Do not apply earlier than June 1 annually since the credit check is only valid for 3 months and we will not begin to certify these loans until around that time. 
** The Budget Form is required for students who apply for a Federal Graduate Plus Direct Loan or a Private/Alternative Education Loan
*** View the Association of American Medical Colleges (AAMC) website for things to consider when deciding on borrowing federal vs. private/alternative loan funding.

 

Satisfactory Academic Progress (SAP)


The Academic Standing Committee considers matters of academic standing, promotion and graduation of medical students. This committee has the responsibility of ensuring that each student meets the grading and promotions standards established for CMSRU (see Student Handbook for Grading and Promotions policy). This committee will ensure that students are assessed against defined learning objectives and that specific competencies have been achieved. The Academic Standing Committee has the responsibility to determine that students have satisfactorily met the requirements of each academic year in the M.D. curriculum; recommend to the faculty the candidates for the M.D. degree; consider individual requests for exceptions; determine whether students are to be placed on an academic plan or academic probation and the conditions for suspension. The committee may recommend the dismissal of a medical student to the dean in accordance with the policy.

From the Grading and Promotions Policy:

III. C. Standing of Students

Students are placed into one of the following two categories based upon their academic performance:

1. In Good academic standing

The student:
  • has completed satisfactorily the requirements of all courses of all previous semesters, and
  • is passing all courses in which (s)he is enrolled, and
  • is not on probation for either academic or behavoral reasons, and
  • has passed any USMLE examinations required to be taken

2. Not in Good academic standing

The student:
  • has not fulfilled the requirements of one or more courses of a previous semester, or
  • is not passing one or more courses in which (s)he is enrolled, or
  • is on academic or behavioral probation, or
  • has failed USMLE Step 1, Step 2CK or Step 2CS examinations and not subsequently passed those examinations.

In order to receive federal financial aid, students must demonstrate Satisfactory Academic Progress (SAP) toward the attainment of their medical degree. If a student is not in good academic standing as outlined in the Student Handbook, the Academic Standing Committee will inform the Financial Aid Office about the student's academic standing.

SAP will be reviewed at the end of every semester. If a student is failing SAP at the end of a semester, the student will receive a financial aid WARNING and still receive federal funding for the upcoming semester (unless the student was not meeting SAP the previous semester). SAP will be reviewed again at the end of the upcoming semester and if the student is not meeting SAP requirements, federal aid will be revoked going forward until the student is back in good academic standing. Or, the student can appeal, and if approved, the student can be placed on financial aid PROBATION for the upcoming semester.

The Financial Aid Committee will determine whether or not the student is granted PROBATION with another semester of federal aid. If the student is placed on an academic plan by the Academic Standing Committee, the student can continue to receive federal aid as long as the student follows the academic plan set forth by the Academic Standing Committee. The academic plan option is determined by the Academic Standing Committee on a case by case basis.

The CMSRU Financial Aid Office must follow all SAP guidelines as set forth by federal regulations.