Financial Aid Programs
The Financial Aid Office at the University of New England is committed to providing students with information about the different education financing options available. This information is available on the Financial Aid website. The website describes the aid application process, the types of financial assistance available, and other important information. The following provides a brief overview of the different types of aid available.
The material described below represents the most up to date information available at the time that this catalog was published. Due to the nature of federal, state, institutional and private program guidelines, this information is subject to change without notice.
Scholarship Programs
College of Osteopathic Medicine Scholarship
This scholarship is awarded to students demonstrating exceptional financial need. Applicants must have all of their financial aid application materials complete by May 1 in order to be considered for this scholarship.
Sewall Osteopathic Foundation Scholarship
Two third-year UNECOM students are chosen to receive $10,000 each during their fourth year. Applicants must be committed to primary care practice in rural areas. Applicants cannot have a conflicting service obligation (National Health Service Corps, Armed Forces, Indian Health Service). Applicants must be in good academic standing. Eligibility is not based on financial need. Applicants must complete an application essay and an interview with the scholarship selection panel.
Founders Scholarship Fund
This scholarship will be awarded to a deserving senior UNECOM student from New England who is judged to be in financial need and who exemplifies high ethical standards toward the Osteopathic profession.
Other University Scholarships
These scholarships are available to students demonstrating exceptional financial need. Funding comes from the University and private donors. Applications will be mailed to all current UNECOM students in the spring. The deadline for applications is in January proceeding the award year.
National Health Service Corps Scholarship
These competitive scholarships will pay full tuition and required fees for the academic year, a single payment toward other allowable expenses and a monthly stipend ($1,157 (before Federal taxes) for the 2006-2007 academic year). For each year of scholarship support (two-year service minimum) recipients owe one year of full-time professional practice at mainly rural sites in high-priority health professions shortage areas of the United States at facilities approved by the Public Health Service. Awards are not based on financial need. Application packets usually are available in January, and can be requested by calling 1-800-638-0824.
Armed Forces Health Professions Students Scholarships
In exchange for a later active duty service obligation, these scholarship programs will pay full tuition, fees, the cost of required textbooks and equipment, and a monthly stipend. The Financial Aid Office has a listing of the Armed Forces recruiters local to the University who can provide additional information regarding these programs.
Maine Osteopathic Association Scholarships
Maine residents enrolled in the College of Osteopathic Medicine should contact the Maine Osteopathic Association for scholarship applications. The application deadline is May 1. Contact: Executive Director, Maine Osteopathic Association, RR2 Box 1920, Manchester, Maine 04351. Tel: (207) 623-1101 http://www.mainedo.org/.
Russell C. McCaughan Education Fund Scholarship
The American Osteopathic Foundation awards each college of osteopathic medicine a $400 scholarship to a second-year student. The dean of the College of Osteopathic Medicine selects the recipient on the basis of academic performance, extracurricular activities, and promise as an osteopathic physician during the student's first year. Selection is made in April of each year. http://www.osteopathic.org/
Loan Programs
Primary Care Loan
This loan program is designed to assist students intending to practice in primary care. Applicants must provide complete disclosure of family financial information on their application, including the student's and parents’ income and assets, regardless of the applicant's age or independent status. Funding decisions are based upon the availability of funding and the total number of eligible applicants. Students must have their application materials complete by May 1 in order to be considered for this program.
UNECOM Direct Tuition Credit Loan
This program is available to New England residents. The loan is interest free during the borrower's UNECOM matriculation and remains interest free if the borrower establishes practice in New England for five years following the completion of an internship/residency program. Students must have their application materials complete by May 1 in order to be considered for this program.
Federal Subsidized Stafford Loan
This federally-guaranteed loan is available to students demonstrating financial need. The maximum amount per finanacial aid year is $8,500. The student does not pay principal or interest until six months after the time when the student ceases to be enrolled at least half time.
Federal Unsubsidized Stafford Loan
This federally guaranteed loan is similar to the Subsidized Stafford Loan, except that interest begins to accrue from the time the loan is disbursed through repayment. Students can pay the interest while in school or elect to have all the unpaid interest added into the loan principal at the start of repayment.
Gilbert Loan
This low-interest loan program is available to medical students who are graduates of the University of Maine. Loan amounts vary depending upon availability of funds and the total number of eligible applicants. Contact: Office of Student Financial, University of Maine, Orono, Maine 04469, or call (207) 581-1324.
Maine Health Professions Loan
Available to Maine residents who demonstrate financial need. Applicants (under the age of 30) must provide complete disclosure of family financial information on their application, including the student's and parents’ income and assets, regardless of the applicant's independent status. Applicants over the age of 30 are required to provide income information for themselves (and spouse, if applicable). Loan amounts range from $5,000 to $20,000 annually. Contact Pam Crate, Finance Authority of Maine at P.O. Box 949 S Community Drive, Augusta, Maine 04333 or (800) 228-3734. The deadline is May 30 of each academic year.
New England Osteopathic Association Loan
This loan is available to students who have successfully completed their first year at UNECOM, have New England origins and demonstrate financial need. The loan carries a low interest rate (4%) if the recipient maintains a practice in New England; the interest rate is 12% (compounded annually) if conditions for the loan are not met. Application forms are available from the Office of Continuing Medical Education.
Alternative Loans
There are currently several private lenders who offer osteopathic students funding under alternative loans. These credit-based loans are designed to make up the difference between the student's recognized cost of attendance and the amount of financial aid the student receives. The Financial Aid Office will send a brochure, which has a description of some of the most advantageous alternative loan programs, to students with their award package. Contact the Financial Aid Office for additional information.
Contacting the Financial Aid Office
The Financial Aid Office is located in Room 121 in Decary Hall. Office hours are 9 a.m. to 4 p.m. Monday through Friday. Students wishing to make an appointment with a financial aid counselor should call (207) 602-2342. The office can be reached via fax at (207) 602-5946. General correspondence can be sent via the Internet to finaid@une.edu.
Notice and Responsibilities Regarding this Catalog
This Catalog documents the academic programs, policies, and activities of the University of New England for the 2007-2008 academic year. The information contained herein is accurate as of date of publication August 1, 2007.
The University of New England reserves the right in its sole judgment to make changes of any nature in its programs, calendar, or academic schedule whenever it is deemed necessary or desirable, including changes in course content, the rescheduling of classes with or without extending the academic term, canceling of scheduled classes or other academic activities, in any such case giving such notice thereof as is reasonably practicable under the circumstances.
While each student may work closely with an academic advisor, he or she must retain individual responsibility for meeting requirements in this catalog and for being aware of any changes in provisions or requirements.