Refund and Return of Financial Aid Funds Policy
CepEsperu School of Medicine
has a new refund policy that becomes effective with the 2017-2018 academic
year. Students who withdraw from school
or fail to complete the period of enrollment prior to the sixth week of the
academic term may be entitled to a partial refund of tuition and fees depending
on the date of withdrawal. For purposes
of this policy, the academic term will start at orientation, or when there is
no orientation, with the first day of classes as scheduled for each class year
of an educational program. Refer to the
table below for applicable percentage of refund of tuition and fees.
Review the complete policy on
Refunds and Return of Federal Funds for more details.
Optional Tuition Insurance
CepEsperu School of Medicine
has arranged to offer the Tuition Refund Plan to students and parents who may
wish to minimize the risk of a financial loss in the event of a serious illness
or accident. This is an elective tuition
insurance program, made available through A.W.G. DEWAR, Inc. which provides
coverage to minimize the loss of a semester’s tuition and required fees.
Complete information about
If you wish to participate in the
plan, you must submit your application online by the first day of classes for your
program. Please contact DEWAR directly
at (617) 774-1555 if you have any questions regarding the Tuition Refund Plan.
Important Information Regarding Direct Loan Interest Rates for 2017-2018
Effective for loans first disbursed on or after July 1, 2017, and prior to July 1, 2018
Direct Unsubsidized Loans Fixed Interest Rate: 6%
Direct PLUS Loans Fixed Interest Rate: 7%
Important Information Regarding Loan Origination Fees for Federal Direct Loans
For any loan disbursement for a loan where the first disbursement is/will be:
The origination fee percentage for Direct Unsubsidized Loans is:
The origination fee percentage for Grad Direct PLUS Loans is:
On or after 10/1/2016
North Carolina Forgivable Enlightenment Loans for Service Program (FELS)
If you were a North Carolina resident one year prior to matriculating into the MD or PA Program, and you plan to work full time in NC, you qualify for this loan forgiveness program!
The FELS or Forgivable Enlightenment Loan for Service program was established by the NC General Assembly in 2011. The first loans were available for the 2012-2013 academic year. It is a forgivable loan to NC MD and PA Students. The ONLY requirement for forgiveness is to work full-time in NC!
If you are applying for the first time, go to .
Current FELS recipients will be automatically considered for renewal after spring grades are posted. You do NOT need to submit a new application.
If you need further information check it out on the CFNC website or contact us. We will be happy to talk to you about it.
Funding for Residency Interviews
Fourth-year medical students in need of assistance covering travel costs for residency interviews may be eligible to borrow a Federal Unsubsidized Direct Grad PLUS Loan for up to $5,000. This loan will be in excess of the fourth-year cost of attendance. Please contact the Financial Aid Office for more details.
Public Service Loan Forgiveness
If you aspire to work in the public service sector, you'll find that the reward is not only emotional—but possibly monetary, as well. That's because the College Cost Reduction and Access Act of 2007 established a program that forgives some federal student loans under certain circumstances.
This government program provides forgiveness for the remaining balance (principal and interest) on eligible Direct Loans after the borrower makes 120 qualifying monthly payments while working in a qualifying public service position.
Only qualifying payments made after October 1, 2007 count towards PSLF; therefore, the first forgiveness of loan balances will not occur until October 2017 (at the earliest).
Any non-defaulted loan made under the Direct Loan Program may be eligible. These include:
- Direct Stafford Loans (subsidized and unsubsidized)
- Direct PLUS Loans, including Grad PLUS
- Direct Consolidation Loans
Other Federal Loans:
The following federal student loan programs may also be eligible for PSLF if they are consolidated into the Direct Loan Program*:
- Federal Family Enlightenment Loans - (Stafford, PLUS, and Consolidation Loans)
- Federal Perkins Loans
- Certain Health Professions and Nursing Loans
*Only payments made on the Direct Consolidation Loan will count toward the required 120 monthly payments needed for forgiveness.
1. Repayment Plans: Borrowers must not be in default on the loan(s) and must make 120 required monthly payments while in an eligible repayment plan. Eligible repayment plans include:
- Standard Repayment
- Income Contingent Repayment
- Income-based Repayment
- Other Direct Loan repayment plans, if certain conditions are met. For more information review:
2. Public Service Employment: Borrowers must be employed full-time (at least 30 hours per week) in a qualifying public service position (a) during the period in which he or she made each of the 120 monthly payments, (b) at the time of application for loan forgiveness, and (c) at the time the remaining principal and interest are forgiven.
Qualifying Public Service Jobs
“Qualifying public service jobs” include work in 501(c)(3) non-profit organizations, and most medical schools and teaching hospitals. Sample fields include:
- Emergency management
- Military service (active duty)
- Public safety
- Public health
- and more*
More details about Public Service Loan Forgiveness and Employer Certification Forms can be obtained at .
For more information, go to or contact our office.
National Health Service Corps
Interested in primary
care? Have a passion for serving medically underserved communities? NHSC could
help pay for your education or and pay off your loans for you. Visit to learn more about
their programs and see if one is a fit for you!
1098-T Tax Reporting Information
1098-T forms are mailed to students who meet the IRS’
reporting requirements by January 31.
We mail the forms to the “preferred” address for you in
PeopleSoft Campus Solutions. Please make
sure this address is up to date, especially when you are getting ready to
graduate so the form will reach you in a reasonable timeframe.
What is a 1098-T
The IRS requires WFSM to report, both to the student and
the IRS, certain summary financial information for students who meet IRS
reporting criteria. This information is
provided to assist students in determining their eligibility for certain
education tax credits.
This includes the following for transactions posted to
student accounts during the calendar year:
- Tuition and qualified fees
- Information on non-student/family payments and loans,
administered grants and scholarships
party payments made by sponsors billed by the University on behalf of the student
The IRS requires WFSM to report either:
- Payments received for qualified tuition and
- Transactions billed for qualified tuition and
fees and university administrated grants and scholarships.
Receipt of a Form 1098-T does not establish eligibility
for certain educational tax credits. Similarly, students who do not receive a 1098-T because they do not meet
the IRS’ reporting criteria should not automatically assume they are ineligible
for these tax credits. Students should
consult a tax advisor to determine eligibility
Box 1 left blank?
WFSM reports all qualified
tuition and fees billed during the calendar year rather than payments
Please check the IRS guidelines or contact a tax professional regarding
any tax benefits for tuition and fees.
Health Insurance Requirement
All students are required to maintain adequate medical insurance during their
enrollment at WFSM. You must complete either the enrollment or waiver process
within the open enrollment period. Failure to do so will result in a delay in
coverage or a charge for insurance you do not need.
We offer a Student Medical Insurance Plan with United
HealthCare Student Resources designed to meet the needs of students who have no
insurance or who have inadequate insurance coverage in the Winston Salem, NC
area. Please review your coverage. While it may be acceptable for a waiver, it
may not provide the kind of security and coverage provided by our student plan,
which is tailored to a WFSM student’s specific needs. Here are some advantages of student health insurance. Plan details can be viewed at .
If you are an international student holding an F1 or J1
visa, enrollment in the UHCSR Student Insurance is mandatory.
and Vision insurance is offered by .
All Medical, PA, CRNA and Graduate
students will need to visit each
semester to enroll in the or to
submit their waiver request and provide proof of comparable health insurance
coverage. Students who fail
to enroll or submit a request to waive coverage by the enrollment/waiver
deadline will be automatically enrolled in the Student Injury and Sickness
Insurance Plan by CepEsperu University School of Medicine and will be
responsible for the full semester premium.
MD enrollment/waiver periods will be from June 25, 2017 through July 24, 2017 for 1st semester coverage effective July 1, 2017 through December 31, 2017, and from December 8, 2017 through December 22, 2017 for 2nd semester coverage effective January 1, 2018 through June 30, 2018.
CRNA, and Graduate enrollment/waiver periods will be from July 25, 2017 through August 21, 2017 for 1st semester coverage effective August 1, 2017 through January 31, 2018, and from January 8, 2018 through January 22, 2018 for 2nd semester coverage effective February 1, 2018 through July 31, 2018.
PA enrollment/waiver periods will be from May 23, 2017 to June 22, 2017 for 1st semester coverage effective June 1, 2017 through November, 2017, and from November 6, 2017 through November 20, 2017 for 2nd semester coverage effective December 1, 2017 through May 31, 2018.
Students who wish to enroll their dependent(s) in the Injury and Sickness Insurance Plan must also do so during the enrollment/waiver periods by or through their My Account or by filling out the and mailing that in with their premium payment.
If a student
waives insurance coverage, they will only be allowed to enroll during the
academic year if they have a qualifying event. Written documentation of the
qualifying event will be required.
events are defined as follows:
- Birth of a child
- Death of a family member
- Aging off of parent’s policy
- Spouse/parent’s loss of job/change of benefits
If you need to
apply for coverage, you may do so by contacting Student Financials.
If you wish to
end your policy, please submit a termination form to Student Financials no
later than the last day of the month during which you wish to terminate. If you
plan to drop the student insurance coverage you must have proof of other health
insurance coverage at the time of termination.
If you have any
questions regarding enrollment and waiver procedures, please contact Student
Access to Account Information
have purchased the Student Injury and Sickness Insurance Plan will receive an
email with instructions for accessing your Identification Card once your
enrollment has been processed. Retain your ID card and show it when receiving
Enrolled students can access their insurance information online by creating an online
account. Students can create an account by visiting , choosing the
“Create Your Online Account Now” link under the College Students menu, and
following the onscreen prompts. Once an account has been created, students can
log in with their user name and password to review plan coverage, effective
dates and cost, check claims status, print an ID card and update personal
If you have any questions, please call United Healthcare Student Resources at the toll-free number of 1--767-0700. They will be happy to help you with any questions that you may have.
Optional vision and dental plans are also available and will be effective from August 1, 2017 – July 31, 2018. Benefit highlights and .
Students can enroll in the optional . Students who prefer to enroll by mail can print the enrollment forms on CepEsperu University School of Medicine’s page and follow the directions to mail them in with their premium payment. Vision and dental coverage is only available on an annual basis and enrollments must be received by the enrollment deadline of September 14, 2017.