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First Year Pharmacy Students With Less Than 72 Earned Credit Hours

Per federal financial aid regulations, students are not eligible for graduate-level financial aid until they have earned a minimum of 72 credit hours. If you are a first-year Pharmacy student with less than 72 earned credit hours, here is what you need to know:

  •  When you complete your FAFSA, answer "No" to the question : "At the beginning of the 2022-2023 school year, will you be working on a master's or doctorate program (such as an MA, MBA, MD, JD, PhD, ED, graduate certificate, etc)?  
    • If you have already completed your FAFSA, please log back in and indicate "make corrections" and change the answer to the question above to "no".  
  • Unless you will be 24 by January 1, 2023, are a veteran, married, have children that you support or other special situations that make you an independent student, you will be required to include your parent's demographic and income information on the FAFSA. Your parent will need to sign your FAFSA using his or her FSA ID. 
  • You will be considered an undergraduate student, for financial aid purposes, for your first semester.
  • Depending upon your Expected Family Contribution, you may qualify for Pell Grant, and subsidized and/or unsubsidized loans for the fall semester.
  • You will have the option of applying for private alternative loans (with a credit-worthy co-signer) or your parent may apply for Parent PLUS Loan options to potentially cover your fall out of pocket expense.
  • At the conclusion of the fall semester, the Financial Aid office will submit corrections to your FAFSA to indicate that you will be a graduate/professional student for spring semester.
  • The Financial Aid office will also change your financial aid award to graduate-level aid for spring semester.
  • For spring semester you will be eligible for up to $10,250 of unsubsidized loan.
  • You will also have the option of applying for private graduate loans or Grad PLUS loans to cover your spring out of pocket expense.

If you have concerns about financing your first semester of Pharmacy school, please schedule a virtual appointment with Melanie Mulder using the link below, as soon as you can. The earlier you meet with Melanie, the more options you will have.

Melanie A Mulder
calendly.com/mulderm2