Welcome to the LMU-Knoxville’s Office of Financial Services website for Physician Assistant Students. This site is designed to provide basic information about application procedures, financial counseling, debt management, and other web resources. In addition, it will provide access to various application forms that may be needed. Included on this site is the LMU-Knoxville PA Financial Aid Handbook. It is the responsibility of all PA Students receiving TITLE IV assistance to become familiar with the information in this handbook. While we have made every effort to provide complete and up to date information, the Office of Financial Services does not accept responsibility for any omissions and we reserve the right to make changes at any time due to changes in federal, state, or institutional regulations or policies.
Your education is one of the most important investments you will ever make. The costs of PA education are indeed high; therefore, careful planning and fiscal management are essential so that you can meet your future obligations. While the primary responsibility for meeting your educational costs rests with you and/or your family, our goal is to provide a comprehensive system of financial services and to help you become an informed borrower.
We hope that you will find the information on this site useful. Please feel free to contact us if you don’t find what you are looking for or have any questions.
Office hours are Monday through Friday 8 am – 4:30 pm (EST) except for recognized school holidays. The Office of Financial Services operates on an open door policy and will see students on a walk-in bases when possible or by appointment.
Tuition ($12,875.00 per semester; does not include loan fees) $ 90,125.00
|Student Activity Fees|
|($75.00 per Didactic semester, $25.00 per Clinical semester)||$375.00|
|Testing Fees ($25.00 per semester)||$175.00|
|Technology Fees ($25.00 per semester)||$175.00|
|AHA Training Fee||$300.00|
|Criminal Background Check ($20.00 per report)||$40.00|
|Drug / Alcohol Screens ($80.00 per screen)||$160.00|
|Hepatitis B Vaccine Series||$160.00|
|Annual Influenza Vaccine||$30.00|
|Cadaver Dissection Tools||$300.00|
|White Laboratory Coat||$50.00|
|Housing ($1,250.00 per month)||$33,750.00|
|Meals ($450.00 per month)||$12,150.00|
|Clothing, Cell Phone, Other Expenses ($200.00 per month)||$5,400.00|
|Gasoline ($300.00 per month)||$8,100.00|
|Auto Insurance ($100.00 per month)||$2,700.00|
|Auto Maintenance ($50.00 per month)||$1,350.00|
|Private Health Insurance ($300.00 per month)||$8,100.00|
|Total Estimated Costs of Attendance and Budgets||$169,100.00|
|State Licensing Fees (TN)||$335.00|
Students have the right to know:
Students have the responsibility to:
Direct Unsubsidized Stafford Loans: PA Students may be eligible to borrow up to $20,500 in Direct Unsubsidized loans per academic year. There is no requirement to demonstrate financial need. The interest rate for Direct Unsubsidized loans first disbursed on or after 6/1/2018 and before 7/1/2019 is fixed at 6.6%. Interest begins accruing on the date of disbursement and will continue to accrue during periods of enrollment, grace, and deferment.
Direct Lending deducts a loan fee at the time of each disbursement. The fee for loans disbursed on or after 10/1/2018 and before 10/1/2019 is 1.062%.
After you graduate, leave school, or drop below half-time enrollment, you will have a six-month grace period before you are required to begin repayment.
The total outstanding debt a PA Student can have from all Direct Loans (subsidized and unsubsidized combined) is $138,500. Outstanding loans received from both the FEEL and Direct Loan Programs for undergraduate and graduate education are included in this aggregate total.
Direct Grad PLUS Loans: The maximum amount a PA Student may borrow in Direct Grad PLUS Loans is the cost of attendance minus any other financial aid received for that same academic period. There is no lifetime aggregate limit. There is no requirement to demonstrate financial need to borrow a PLUS loan. A credit check is required. If you have an adverse credit history, you could be denied by the lender. If denied, you may appeal or you may reapply with a credit-worthy endorser.
The interest rate of Direct Grad PLUS Loans disbursed on or after 7/1/2018 and before 7/1/2019 is fixed at 7.6%. Interest begins accruing on the date of disbursement and will continue to accrue during periods of enrollment, grace, and deferment.
Direct Lending deducts a loan fee at the time of each disbursement. The fee for loans disbursed on or after 10/1/2018 and before 10/1/2019 is 4.248%.
If you receive a Direct PLUS Loan as a graduate or professional student, you don’t have to make any payments while you’re enrolled in school at least half-time, and for an additional six months after you graduate, leave school, or drop below half-time enrollment.
If you accept student loans, follow the steps below to complete your loan processing.
You must complete all three steps or your loans will not be processed.
LMU operates on an annual budget developed through advanced planning built around the institutional mission and goals, including financial obligations to faculty and other who provide necessary services essential for operation. In the event a student drops one or more classes, withdraws, or is administratively dismissed from LMU for disciplinary or financial reasons after registration is completed and prior to the end of a semester of enrollment, the student’s eligibility for a refund of tuition will be pro-rated as indicated by the refund policy. A student must complete a Change of Schedule form, obtained from the Office of the Registrar, for dropping one or more classes. Any situation in which all classes are dropped is considered to be a withdrawal from LMU. Any notification of withdrawal and request of refund must be made in writing. Should the student fail to officially withdraw, all semester charges will become immediately due and payable.
The official withdrawal process begins in Office of Student Services. A withdrawal form must be completed and all the necessary signatures obtained. Oral requests do not constitute official notification. The official date of withdrawal used to compute the refund is determined by the Office of Finance.
Applicable institutional charges will be refunded according to the following schedule:
No refund of institutional charges will be made after the fourth week of the semester. Specific dates affecting the schedule of refunds may be found through the Office of Student Affairs, the Office of the Registrar, or the Office of Finance.
Reimbursement of Funds
The Return of Title IV Funds (Federal): The Higher Education Amendments of 1998 regulate how colleges and universities handle Title IV funds when a recipient withdraws from school. This policy is separate from LMU’s refund of institutional charges. The return of Title IV funds includes Pell Grants, Federal Supplemental Educational Opportunity Grants, PLUS Loans, Perkins Loans, and Stafford Loans. The policy states that up through the 60% point in each semester a pro-rata schedule will be used to determine how much Title IV aid the student has earned. For example, if the student has attended 31% of the enrollment period, the student has earned 31% of his/her Title IV aid, and 69% of the aid must be returned to the federal government. After the 60% point in the semester, the student has earned 100% of the aid for which the student was eligible. Additional information on the return of Title IV funds may be obtained from the Office of Financial Services.
The official date of withdrawal is the date the Office of Financial Services receives the student’s written request for a leave. The percentage of time completed in the enrollment period is determined by dividing the number of days completed by the number of days in the enrollment period. If 60% of the semester has been completed, there is no return of funds.
Good credit is going to determine if you are eligible to borrow under the Federal Grad Plus Loan Program. Federal legislation mandates that an individual may obtain a free credit report every 12 months from each of the major credit reporting agencies. Free credit reports can only be obtained on the web at the following website: www.annualcreditreport.com .
Credit reporting agency information:
Credit criteria used to review/approve Grad Plus Loans can include the following:
The three reporting agencies all have basically the same information; therefore, we do not recommend that you check all three agencies at the same time. Check one, then check another in three or four months, then check the third three or four months later. Continue to check them at intervals of three or four months so that you always know what is on your credit report.
National Health Services Corps (NHSC) Scholarship Program: The NHSC Scholarship Program is a program established to bring health care to areas of the country which have critical health professional shortages. Tuition, fees, and a monthly stipend are paid in exchange for service obligation. Each year of support incurs a year of service. Breach of the service obligation would incur substantial financial penalties.
US Army Medical Corps
US Air Force