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Attending medical school is an investment in your future

We are committed to helping you understand all of your financial aid options and remove the barriers to the financial aid process to assist you in accomplishing your goal of attending SCNM. Most of our students qualify for student loans and assistance, and more than 80% of our students rely on financial aid. We encourage everyone to explore scholarship and financial aid opportunities.

Read below for details on the financial aid process and reach out directly to our financial aid experts at finaid@scnm.edu if you have any questions.  

Where do you start? 

Complete the Free Application for Federal Student Aid (FAFSA) 

SCNM school code is G31070

The FAFSA determines your eligibility for grants and loans.  Graduate students are evaluated for Direct loans, Graduate PLUS loans and Federal Work Study. The FAFSA may be completed at www.fafsa.ed.gov. If you are a first-time borrower, you must apply for an FSA ID from the Department of Education at https://fsaid.ed.gov/npas/index.htm

Complete Your Master Promissory Note (MPN)

The Master Promissory Note is your contract to your rights and responsibilities as a borrower. It can be completed at www.studentloans.gov. The MPN must be completed separately for the Direct loans and Graduate PLUS loans.

Complete Your Entrance Counseling

The online entrance counseling provides information regarding loans, repayment options, grace periods, among others. The entrance counseling may be completed at www.studentloans.gov.

 

What Happens After I Have Applied for Financial Aid?

Notification and Status of Financial Aid Awards

After applying for federal aid, our financial aid staff will review your FAFSA to determine eligibility. Awards will reflect the maximum amount of aid you may borrow each quarter.  Award letters will be posted electronically on MySCNM. If you need to change the award amount, please contact the Financial Aid Office.

Disbursement of Financial Aid Funds

Federal Student Aid will be posted to your account for allowable tuition and fee charges prior to crediting your account for other costs such as living expenses.

Excess of funds are provided to you in the form of a live check or directly deposited in your bank account.  Verification of your class attendance must be documented prior to financial aid disbursement.  

 

We want to make your dream of becoming an ND a reality, and we'll work with you to explore every option to make it affordable for you.

Federal Direct Unsubsidized Loan

ND students qualify for up to $40,500 for a three-quarter academic year. The interest rate is a fixed 6.6 percent guaranteed after July 1, 2018. The origination fee is 1.062 percent, effective October 1, 2018. Interest accrues while students are enrolled; however, students may choose to have the interest capitalize at the time of repayment or may choose to make interest only payments while in school. Direct Unsubsidized Loan aggregate limit may not exceed $224,000.

Federal Direct Graduate PLUS Loan

ND students may borrow Graduate PLUS loans to pay for their education; students may borrow up to the cost of attendance. Graduate PLUS loans have a fixed interest rate of 7.6 percent guaranteed after July 1, 2018. The origination fee is 4.248 percent, effective October 1, 2018. Graduate PLUS loans do not have annual or aggregate borrowing limits. Graduate PLUS loans require a credit check.  

Private Educational Loans

ND students may borrow private educational loans to pay for their education; students may borrow up to the cost of attendance. Private educational loans may have a fixed or variable interest rate, it is the student's responsibility to seek the lender of their choice and apply for the private educational loan. Private educational loans will require a credit check.

Federal Work Study (FWS)

Federal Work Study is a federal program which allows students to work on campus with staff and faculty. SCNM offers positions in various departments, offering flexible hours and the opportunity to enhance interpersonal communication and time management skills.

Federal Work Study is awarded quarterly; the Financial Aid Office provides a list of job openings within the College and Medical Center. FWS is not paid back to the Department of Education; it helps decrease the overall student loan debt. Students interested in FWS must comply with all SCNM hiring process requirements and complete and submit the FAFSA every year to determine eligibility. International students do not qualify for FWS.

We are here to offer assistance to our students and alumni about repayment options. Before your loans enter repayment, consider the following repayment plans and reach out if you have any questions.

Standard Repayment Plan

Each monthly payment is the same amount throughout the repayment period. The repayment plan is up to 10 years and the amount may be adjusted if there are changes in the variable interest rate.

Graduated Repayment Plan

The monthly payment amount generally starts lower and increases at scheduled times throughout the repayment period. An interest only payment for the first two to four years and it usually takes up to 10 years to repay.

Extended Repayment Plan

Certain borrowers with more than $30,000 in outstanding principal and interest may repay over a period not to exceed 25 years.

Income-Based Repayment Plan (IBR)

The monthly payment amount is adjusted annually based on your income, family size, and federal student loan debt. Monthly payments will be based on 15 percent of your discretionary income. Any outstanding principal and interest owed after 25 years of qualifying payment will be forgiven; however, you may have to pay income tax on any amount forgiven.

Revised Pay As You Earn Repayment Plan (REPAYE)

The monthly payment amount is adjusted annually based on your income, family size and federal student loan debt. Direct loans ONLY are applicable. Monthly payments will be based on 10 percent of your discretionary income. Any outstanding principal and interest owed after 20 or 25 years of qualifying payments will be forgiven. If married, both you and your spouse will be considered whether you file jointly or separately.

 *Please utilize the Estimated Loan Calculators to further assist you with selecting your Repayment Plan*

Understanding Deferments & Forbearances

If you have difficulty making your payments contact your lender, holder or servicer immediately to determine if you qualify for either a deferment or forbearance.

Deferment

Deferments are a period of time during which a lender temporarily postpones regular payments. Deferments are considered an entitlement, meaning your lender must grant them if you qualify. It is your responsibility to request a deferment from your lender and provide the necessary documentation for eligibility. If you have been given a deferment, the federal government will pay the interest that accrues on your Subsidized Stafford Loan; however, you will be responsible to pay the interest accruing on the loan.

Forbearance

A lender temporarily reduces, extends, or postpones regular loan payments.  Forbearances are usually granted if medical or dental interns enroll in an internship and have exhausted their deferment  eligibility if the borrower is serving in a national service position under the  National and Community Service Trust Act of 1993; and if annual debt equals or exceeds 20% of a borrower’s disposable income. The federal government does not pay the interest accrued on the Subsidized Stafford Loan. You are responsible for interest and principal amount on both the Subsidized and Unsubsidized Stafford Loans.

Delinquency Through Default

Delinquency occurs when a borrower fails to make monthly payments on time; the student is considered delinquent when missing one payment.  History of payments is reflected on a borrower’s credit report and will be reported to the National Credit Bureau. If no payments are made from Day 1 to Day 270, the lender may submit a claim to the guarantor which takes 90 days to process the claim; there are 360 days of period of default.

Consequences Of A Borrower In Default:

  • Charged up to 25% in collection fees
  • Interest rates can increase
  • Wages may be garnished
  • Borrowers’ may lose their professional license (e.g. Medical, Law)
  • Borrowers will lose their eligibility for future financial aid

We are pleased to offer scholarships opportunities to all new and current ND students. SCNM scholarships are determined by a student’s cumulative GPA or essay component. Scholarships for all financial aid recipients will be included in their award package. Please read details carefully--scholarship awards may have specific eligibility requirements.

New Student Scholarship Award 

SCNM Vis Medicatrix Naturae

This scholarship award is based on academic excellence. Academic excellence is determined and based on cumulative grade point average (GPA) for all post-secondary coursework, prerequisite GPA, and undergraduate major.  Incoming students are eligible to receive only one SCNM Scholarship Award per calendar year, although you may apply for multiple awards.The award ranges from $1,000-$3,000, which will be credited to the recipient’s tuition during the student’s first two quarters. Scholarship application is not required; however, we do encourage applying for early admissions.

 

Current ND Student Scholarship Awards

NDNR Student Writers Scholarship

$5,000 in scholarship awards is to be given to students enrolled in CNME-accredited naturopathic programs. Scholarships will be accepted in one of two categories which include: Research Review and Case Study, these must be co-written or supervised by a licensed ND. Entries for both categories are due annually in November. For more information, click here.

Patricia and Paul C. Bragg Health Science Scholarship

SCNM is honored to receive an annual donation from the Bragg Health Foundation to fund the Patricia and Paul C. Bragg Health Science Scholarship. Dr. Paul C. Bragg, ND, PhD, was a naturopathic physician and pioneer in the health movement in America. This scholarship is in his memory and carries on his legacy which is the mission of the Bragg Health Foundation.

Eligibility:

  • Non-need based merit scholarship
  • Students must be in their second, third or fourth year of their ND program
  • Full time enrollment and satisfactory academic progress are required
  • Students are to submit a one- to two-page essay describing the following: “What role will nutrition play in your future naturopathic practice” 

SCNM’s ND program is an approved program of study by the Veterans Administration (VA) for students eligible to receive VA benefits. Eligibility for VA benefits is determined by the appropriate VA benefits office. Students must contact the VA office and complete required approval forms to determine eligibility.

After the student has completed the process, SCNM is notified by the VA office of the student’s eligibility and status of benefits. VA benefits are not considered Estimated Financial Assistance when determining eligibility for Federal Direct Loans. Veterans must continue to achieve Satisfactory Academic Progress (SAP) towards their educational program(s) each quarter in order to remain eligible for benefits. SCNM must report to the VA office if a student is not meeting SAP or if there is a change in enrollment status.

If you served on active duty, you might be eligible for education benefits offered by the Department of Veterans Affairs. For example, the Post 9/11 GI Bill®  provides financial support for educational and housing expenses to individuals with at least 90 days of aggregate service after September 10, 2001, or individuals discharged with a service connected disability after 30 days. You must have received an honorable discharge to be eligible for the Post 9/11 GI Bill® .

If you are currently serving in the military, you may be eligible for funding offered through the Department of Defense Tuition Assistance program. Check your eligibility status and the amount for which you qualify with your service prior to enrolling.

If you are the spouse or child of a service member, you may be eligible for transfer of the service member’s Post 9/11 GI Bill® benefits to you.

SCNM is an approved participant in the U.S. Department of Veterans Affairs Yellow Ribbon program, individuals who qualify for the post-9/11 GI Bill may be eligible for additional funding to help them achieve their educational goal. 

The Yellow Ribbon GI Education Enhancement Program (Yellow Ribbon Program) is a provision of the Post-9/11 GI Bill that allows veterans to attend private schools and graduate programs costing more than the state tuition cap. Under the program, SCNM offers a veterans-only scholarship which the VA will then match. This benefit is offered to a limited number of students on a first come, first-served basis. Veterans should contact the Registrar’s Office for further inquiry of benefits and submission of the Yellow Ribbon Program Application.

SCNM has agreed to comply with the Principles of Excellence as issued in Executive Order 13607 and signed on 4/27/2012.

VA Office Contact Information:

Out-of-state students, please contact your VA regional office in your area. In-state students, please contact the Muskogee office at 1.888.442.4551 or via email at musropco@vba.va.gov.

For GI Bill® benefits, please log onto www.gibill.va.gov; all other inquiries log onto www.va.gov

Federal and Institutional Policies

Financial Aid Code of Conduct

Southwest College of Naturopathic Medicine complies with, administers, enforces and prominently publishes on its website the Financial Aid Code of Conduct. The Financial Aid Code of Conduct is reviewed annually by officers, employees and agents who have a responsibility with federal student loans.  

For more information, click here for the Arizona Student Loan Code of Conduct.

Satisfactory Academic Progress (SAP) Policy

Student's grades are reviewed at the end of each quarter and at the end of every calendar year.  Failure to meet SCNM's academic requirements may result in a loss of financial aid eligibility. Please refer to our SCNM catalog to view SAP and Academic Policies.

Withdrawal and Refund Policies

SCNM applies the same federal guidelines for pro-rate refunds to all student refund calculations as those applied to students receiving federal financial aid. The federal guidelines for financial aid refunds are determined on the basis of the student’s withdrawal date and the length of the session. The length of the session is calculated from the first day of instruction through final exams of the registered session(s) and excludes any breaks of five days or more. After the 60% completion point of the term, 0% tuition and fees are refunded. Further information on SCNM’s withdrawal and refund policies may be viewed through SCNM catalog.

Copyright/Copyright Infringement

The SCNM community shall abide by the Title 17 of the U.S. Code, Public Law 94-5333 of the Copyright Act and the Digital Millennium Copyright Act and expects all community members to adhere to Classroom Guidelines, which are beyond the minimum requirements established by Copyright Law.  Please refer to SCNM's Copyright Policy.

What financial aid paperwork do I need in order to get started at SCNM?

Where can I locate my financial aid status and award letters?

Award letters and financial aid information are posted on MySCNM.

How often must I complete a FAFSA?

Once a year – a new FAFSA is available every October 1st. This FAFSA will be effective July 1 to June 30 of the following year and you can apply online at FAFSA for free.

What is the FSA ID?

As of May 10, 2015, the Department of Education has issued a new log in requirement replacing the FSA PIN. To access all federal student aid portals, you will need to create an FSA ID.

How much money should I borrow?

You are allowed to borrow up to the cost of attendance, which is determined by the SCNM Financial Aid Office. However, you do not have to borrow the full amount; you can choose to borrow a lesser amount.

Is there money left after tuition is paid?

Yes! If you borrow the full amount you will have money for books, supplies, room and board, transportation and personal expenses.

When do I get money after tuition has been paid?

Federal loan refund checks are distributed by the SCNM Business Office tentatively at the end of the first week of the quarter, upon enrollment verification.

How is tuition paid from financial aid?

Federal aid is disbursed to SCNM’s account on the first day of the quarter. Funds are then posted to the student’s account and tuition is deducted prior to the student receiving their financial aid refund check.

How can I make payments toward my accrued interest while I'm in school?

The Department of Education will assign your loans to a servicer who will handle the billing and other services. It is recommended that you create an online account through your servicer's webpage in order to facilitate loan payments. The National Student Loan Data System provides loan and lender information. 

When should I consolidate my student loans?

The ideal time to consolidate is at the time of repayment. Consolidation is an option; however, once the borrower consolidates repayment begins immediately.

Financial Aid for International Students

Information regarding international students can be found here.