Budgeting & Money Matters, Scholarships, and Financial Aid

Most Frequently Asked Questions and Things You Should Know

  1. If I am not taking out any student loans, do I still need to worry about living on a month budget?
  2. Yes. Every person should have a monthly budget, based on your income or resources.
  3. Also, keep in mind the expensive 4th year. You will need approximately $7,000 for residency interviews and away rotations.
  4. Save on a monthly basis for interviews and taxes—if applicable.
  1. My loans have not posted to my Student Account. Why?
  2. Go to BlanzerNET, Financial Aid page and click on “Unsatisfied Requirements”.
  3. Make sure you have signed your Stafford Master Promissory Note online at
  4. Make sure you have completed the entrance counseling online at
  5. If applicable, make sure you have signed your Grad PLUS Master Promissory Note online at
  6. Once you sign the Master Promissory Note/s electronically, it takes about 3 days to reach theUAB Financial Aid Office.
  7. UAB does not process any Financial Aid or funds on the last day of the month.
  8. Make sure you have accepted your loans in BlazerNET.
  9. Other issues will be posted on “Unsatisfied Requirements”.
  1. I have a UAB School of Medicine Scholarship. However, it has not posted to my Student Account. Why?
  2. Financial Aid requires you to list your scholarship on the Resource Information Form. Financial Aid will subtract your scholarship from the Total Cost of Attendance using the information on the resource form.
  3. Scholarships are processed separately out of the Scholarship Program Manager’s Office. (That’s why Financial Aid asks you to report it.)
  4. Scholarships will post much later that your student Financial Aid.
  5. Scholarship letters and agreement forms are emailed to scholarship recipients mid to late July.
  6. Scholarship recipients must sign the agreement form and return.
  7. Scholarships are then processed through Oracle, UAB’s payment system.
  8. Financial Aid receives scholarship information from Oraclein approximately two weeks.
  9. Financial Aid (Ann Little) manually posts scholarships to students’ accounts.
  10. If you have listed your scholarship on the Resource Information Form, you will receive a

refund after all tuition and fees have been paid.

  1. I have undergraduate, graduate, and other professional student debt. Is there a maximum amount of federal student loans that I may take out?
  2. Yes. Federal Stafford Loans are maxed out at $224,000.
  3. However, you may always apply for Grad Plus Loans at
  1. I received a Cohron Loan. What is that?
  2. The Cohron Loan is an institutional loan at a 6% fixed rate. It does not accrue interest while in medical school. The payback is five years. After accepting the loan, go to Student Accounting to sign the promissory note.
  3. It’s based on need.
  4. The Cohron Loan is managed by a third party vender for the University of Alabama at Birmingham, c/o Educational Computer Systems, Inc.

The url is:

Customer Service (Borrower) issues:

Customer Service by phone:1.888.549.3274

5.4.The Cohron Loan does not reduce Stafford Loans. It reduces the amount needed through Grad PLUS Loans.

  1. If I did not take out the full Cost of Attendance through both Stafford and Grad PLUS Loans, may I request additional funds later this school year?
  2. Yes. Email Ann Little, , about increasing your Stafford Loans.
  3. For Grad PLUS Loans, complete the application at
  1. If I find that I took out more loans than needed, may I return the loans?
  2. Yes. If it is within a certain time frame.
  3. Complete the Loan Reimbursement Form / Loan Cancellation Request Form inserted below:
  1. When are tuition and fees due?
  2. September 1st for the first semester.
  3. January 3rd for the second semester.
  4. There are NOpayment plan options.
  5. There are NOtransaction fees if you pay by credit card.
  1. How do I pay for my tuition and fees if I am not taking out loans?
  2. You may check your balance and pay your tuition on the following link: Check Balance/Pay Tuition
  3. If you wish to pay by check, make the check payable to UAB. Take the check to Student Accounting, located on the ground floor of Lister Hill Library.
  4. Or Mail to:
  5. Student Accounting Services
    UAB, The University of Alabama at Birmingham

LHL G10C, 1700 University Boulevard

Birmingham, AL 35294-0013

  1. Why is it important that I double-check all fees, student loans, scholarships, and refunds posted on my student account?
  2. Errors happen sometimes.
  3. For a list of fees, use the Budget Planning Workbook. Across the bottom, click on Fees.
  4. Some years the Health Insurance Fee does not post when all other fees post. You need to save

the allotted amount for Health Insurance so that you may pay for it later when it does post.

10.1.3.Perhaps you waived Health Insurance Fees, and your account has been charged. You need

to contact UAB Student Health to get that corrected. Student Health and Wellness Center, 1714 9th Avenue South. 205-996-2589, FAX 205-975-6193.

10.1.4.Perhaps you waived Dental Insurance, and your account has been charged. Call 934-5234 after noon, or visit Room 245 of the School of Dentistry at 1919 7th Avenue South.

10.1.5.Sometimes parking fees are posted incorrectly. contact Parking and Transportation at 934-3513

or .

10.1.6.Verify all charges as well as loans and scholarships. Loans and scholarships post ½ the first

semester and ½ the second semester. SCHOLARSHIP WILL POST LATER.

  1. I have private health insurance, so why was I charged with the HIV/Disability Insurance fee?
  2. All students must pay this fee throughout medical school. It is also malpractice insurance.
  1. How do I apply for Stafford Loans; and how often must I apply?
  2. Complete the FAFSAeachyear.
  3. The application opens October 1.
  4. Include parental financialinformation (until age 30) to be considered for certain need based

scholarships and loans.

12.1.3.FAFSA must be completed by April 16 each year to be considered for need based scholarships.

  1. How do I apply for a Grad PLUS Loan; and how often must I apply?
  2. You must apply each year. The application opens each year on June 1.
  3. A Credit Report will be used.
  1. If I have received a scholarship this year or wish to be considered for one next year, what must I do each year to be considered? And why should I include parental information?
  2. YOU MUST APPLY EACH YEAR.
  3. The Scholarship Application opens each January 1. You must include parental information to be considered for need based scholarships.
  4. If students did not include parental information, all students would be exactly the same, no job, and in

medical school.

14.2.2.The only way to differentiate between students is by including parental information.

  1. I have a four year scholarship. Do I have to complete FAFSA and the Scholarship Application each year?
  2. YES!
  1. I have a student health hold on BlazerNET. What do I do?

Click on "Personal Information" near the top right of the home screen. Then select the "Mandatory Student Health Insurance Selection/Waiver," and answer the questions on the page. The hold will be removed.

  1. When does interest start accumulating on my loan money, when we receive it or when we graduate from medical school?
  2. Interest begins accruing as soon as the disbursement posts on your student account.
  1. Do I have to pay on my interest during medical school?
  2. No. (read below)
  1. If I wish to pay on my interest, how do I do that?
  2. Every few months, you will receive a statement of interest that has accrued—through the US mail or via email.
  3. You may pay your interest using that statement.
  4. Establish an online account with your loan servicer when you receive the statement, even if you do not wish to pay on your interest.
  5. Monitor your loans through the servicer ensuring they have the correct amount.
  1. What are some examples of non-profit organizations in which Public Service loan forgiveness works? Also, how does this loan forgiveness work?
  2. It’s too early to discuss this topic. Things change every year.
  1. MY REQUEST TO YOU:

Please provide constructive criticism, suggestions about Budgeting & Money Matters training, materials provided,

as well as any questions or concerns that are still unanswered.

Thanks!

Theresa Millender