federal loan programs
All of the Financial Aid Office personnel at Bon Secours St. May’s Hospital School of Medical Imaging adhere to the Code of Conduct of the National Association of Student Financial Aid Administrators.
Bon Secours St. Mary’s Hospital School of Medical Imaging believes the primary responsibility for the cost of a student's education rests with the student and/or family. The School has a financial aid program designed to assist the qualified student in meeting educational expenses. Financial need is defined as the difference between the cost of the educational program and the amount of money the student and/or family can reasonably pay, as determined by the Department of Education calculations.
A student's financial aid award will not be large enough to cover living expenses and school expenses. Therefore, students will need additional resources to support themselves and their education while enrolled in the School of Medical Imaging. Advance planning by the student is essential if financial needs are to be adequately met.
Pre-requisites to apply for financial aid
To apply for financial aid offered through Bon Secours St. Mary’s Hospital School of Medical Imaging, the applicant must complete the Free Application for Federal Student Aid (FAFSA). The application must be completed over the internet at www.fafsa.ed.gov.
The applicant will be asked for the school code of the institution you are planning on attending. Our school code is 023585. This application procedure can take up to six weeks to complete, so it is in the best interest of the applicant to begin this process as early as possible.
Loans and grants are available to qualifying students after full acceptance into the School of Medical Imaging. Amounts awarded depend on verified need, academic standing, credit ratings, and the number of credit hours to be taken.
The financial aid packages we offer:
- Federal Pell Grant
- Federal Direct Student Loans
- Federal PLUS Student Loans for parents
- The program is eligible for Veterans Administration benefits, including the GI Bill
- The program accepts the Virginia College Savings Plan disbursements.
All first time borrowers at the School of Medical Imaging are required to complete entrance counseling. This counseling is completed in two stages. Stage one is completed on-line at https://studentloans.gov/myDirectLoan/index.action
Types of on-line counseling:
There is one counseling session; however, the material will be tailored to the borrower type selected during Step 1 of the online session.
|If the borrower selects...||Then the entrance counseling will fulfill counseling requirements for...|
|“I am an undergraduate student.”||Direct Subsidized and Direct Unsubsidized Loans only.|
|“I am a graduate/professional student.”||Direct Subsidized and Direct Unsubsidized Loans as well as Direct PLUS Loans.|
Stage 2 of the entrance counseling will occur after acceptance into the program and will include:
- Detailed instruction on how to complete the on-line FAFSA
- Dates regarding completion of on-line entrance counseling and Master Promissory Notes
- Dates regarding receipt of award letter, return of award letter, and details regarding funding available
- Details regarding importance and requirement of repayment, consequences of loan default, use of Master Promissory Note, explanations for interest and capitalization, samples of monthly repayment amounts, information about NSLDS, contact information regarding terms and conditions of loan and importance in notifying school and lender regarding withdrawal or other changes of status.
All Federal Financial Aid Direct or Plus loan borrowers at the School of Medical Imaging are required to complete exit counseling. This counseling is completed in two stages. Stage one is completed shortly before graduating on-line at https://studentloans.gov/myDirectLoan/index.action
Stage 2 of the exit counseling will occur after completion of stage 1 and will include:
- Meeting with Financial Aid Coordinator at which time the student may address questions or concerns regarding loan repayment, consolidation, debt management strategies, and tax benefits, forbearance, deferment and cancellation options, as well as to provide the students with NSLDS information, rights and responsibilities and collect updated contact information.
Clock/credit-hour conversions in determining program eligibility for Federal Student Aid (FSA) As defined by the federal government, an undergraduate educational program in credit hours that is considered a Gainful Employment (GE) program must use a conversion formula developed by the Department of Education (DOE). This formula will determine the number of credit hours eligible for FSA purposes. Credits approved by state and accrediting agencies are not necessarily the same number of credits for FSA purposes. For FSA purposes, the number of credits in the program will be those determined by the conversion formula
Number of clock hours in the credit-hour program: 37.5
The Bon Secours St. Mary’s Hospital School of Medical Imaging accrediting agency, JRCERT, approved 70 credit hours; in applying the formula above, 69 credits hours are approved for FSA purposes.
Bon Secours St. Mary's Hospital School of Medical Imaging
8550 Magellan Parkway, Suite 700
Richmond, VA 23227