- Last day to submit fall/spring budget adjustment appeal requests is April 10th.
- Last day to accept Financial Aid Notification and sign MPNs for spring 2026 is April 18th.
- Summer aid will be added to your current 2025-26 Financial Aid Notification by May 1st. Create a budget prior to accepting/declining summer loans so that you borrow only what you need.
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After you receive an updated aid notification, log into your student portal to fully/partially accept or decline your offered aid.
- Students must register for 5+ credit hours each term to qualify for financial aid.
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Schedule your M4 Senior Exit Student Loan Repayment Meeting: |
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Class of 2026, with Graduation approaching, now is the time to schedule your M4 Senior Exit Student Loan Debt Management appointment with the COM Financial Aid Office. We will provide you with an overview of student loan repayment strategies, debt management, and a general financial aid check-in. We encourage all M4 students with student loan debt to meet with us.
To schedule a meeting, please contact:
Chicago and Peoria Students:
Tara Haddadin: medicinefinaid@uic.edu
Rockford Students:
Amy Haban: https://calendly.com/amyhaban or ahaban@uic.edu
Tara Haddadin: medicinefinaid@uic.edu
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One Big Beautiful Bill Act (OB3) Updates |
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The One Big Beautiful Bill Act (OB3) was enacted by Congress in July 2025 and makes significant changes to federal student loan programs. While the law has already passed, the specific rules governing how it will be implemented have not yet been finalized.
We are awaiting final regulatory guidance from the U.S. Department of Education; however, based on our preliminary analysis of the current regulatory language, the following changes are expected to affect medical students.
The Grad PLUS Loan program will be phased out beginning July 1, 2026, and is tentatively scheduled to fully end in 2028. Incoming students will not be offered the Grad PLUS Loan.
Below are the proposed legacy provisions to be grandfathered in. Students that lose their legacy provisions will rely on private loans to meet their Cost of Attendance (COA).
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Currently enrolled Med students will remain eligible for the Grad PLUS loan for the remaining published length of their program, including time already enrolled, for up to three additional years.
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Example:
The UI COM Med program is designed to be completed in four years. If a student has already been enrolled for two years by at the end of the 2025–2026 academic year, the student may borrow Graduate PLUS Loans for two additional years only, as long as they remain continuously enrolled. Should the student need additional time, they will need to utilize private loans.
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Current students must have received an Unsubsidized or Grad PLUS Loan disbursement prior to July 1, 2026. We strongly encourage first-time borrowers to accept their summer loans by June 1, 2026 to allow time for loan origination.
- Enrollment in MD program must be continuous
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Program change for a joint degree will likely result in the loss of legacy provisions upon return to the MD program (excluding MSTP).
- Students on a leave of absence as of July 1, 2026, will likely not be eligible for the legacy provisions upon their return.
- Students that take a leave of absence for more than 6 months after July 1, 2026, will likely not be eligible for the legacy provisions upon their return.
- Beginning in the Fall 2026 term, federal loans will be prorated for all students registered less than full-time. Federal loan proration may increase the need for private loans to meet students’ COA.
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We will continue to share OB3 updates as they become available.
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AAMC: Choosing Insurance as a Medical Student or Resident
Thursday, April 15, 2026, at 1:00pm CST
Register Here!
During this AAMC webinar you will hear questions answered and learn about the types of insurances, tools, tactics, and resources that help you prepare to obtain the proper insurance coverage throughout your medical career. Join Ms. Deanna Filosa, Physician Planning Group, for this informative and interactive webinar!
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Scholarship and Professional Development Opportunities |
Deadline: April 1, 2026
Available to students who are active and emerging organizers in progressive movements for liberation, self-determination, and social and economic justice in their communities.
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Deadline: April 15, 2026
Available to underrepresented students who have a passion for Neuroscience. The applicant must be willing to spend one full year at Cedars-Sinai Medical Center in Los Angeles, CA.
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Deadline: April 16, 2026 at 6:30 pm
Available to students pursuing eligible primary care health professions training. It’s the perfect opportunity to fund your healthcare career. Get financial support for your education and in return, serve at least two years in a community in need.
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Deadline: April 24, 2026
Available to in-state Latino students to support their academic success. Candidates are considered based on merit, leadership, and commitment to the Latino Community.nd economic justice in their communities.
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Deadline: May 1, 2026
Available to current M3 students who have declared family medicine as their specialty. Applicants will be judged on commitment to family medicine, leadership qualities, academic performance, including evidence of clinical excellence and application of knowledge to clinical care, and communication skills and service.
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Deadline: May 10, 2026
The National Board of Medical Examiners (NBME), this assistance award will provide $695 awards to students with demonstrated financial need who have registered for and taken the USMLE Step 1 or Step 2 CK exam in 2026 to reimburse the cost of exam registration fees.
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Application Opens: April 6, 2026
Deadline: May 17, 2026
Available to M2 students. The NBME, in partnership with National Medical Fellowships (NMF) program aims to support aspiring physicians who demonstrate financial need and a commitment to serving their communities.
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- Check to see if you need to file a tax return: https://www.irs.gov/individuals/check-if-you-need-to-file-a-tax-return.
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2025 IRS 1098-T Forms are now available through the University Bursar’s Office
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Understanding taxes can be complicated. The University Bursar’s Student Money Management Center offer resources and webinars to help students better understand taxes. Visit their website for tax information and to view webinar and recordings: Learn About Taxes and Get Savvy: Taxes for International Students - Follow Up
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M4 students- It may be in your best interest to file a 2025 tax return, even if you didn’t earn any income in 2025. This can help you with getting the lowest monthly repayment amount once you go into repayment on your student loans after graduation. Students who plan on choosing any of the income-driven repayment (IDR) plans may qualify for $0 monthly student loan payments during your first year in repayment. Contact the IRS for more information on filing a 2025 tax return at https://www.irs.gov/.
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*Disclaimer: The COM Financial Aid Office are not tax experts. Please consult with an accountant or the IRS for tax related questions
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Build Credit Responsibility – Building a good credit history is essential for your financial future and can pave the way for future financial endeavors, such as renting apartments or applying for loans.
Pay your bills on time, avoid maxing out credit cards, and keep your credit utilization low.
Consider a secure credit card or becoming an authorized user on a parent’s card to begin establishing credit. But keep in mind that credit cards can be a double-edged sword. If you use a credit card, pay off the balance in full each month to avoid high-interest charges.
Check out this article from Experian on how to build credit for additional resources: 7 Ways to Build Credit if You Have No Credit History
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If your expenses consistently exceed your income, what is the most effective first step?
A. Take out additional loans
B. Stop tracking expenses
C. Identify and reduce variable expenses
D. Ignore small purchases
*Submit your answer to medicinefinaid@uic.edu for a chance to win UIC swag. Students must be registered for the current term to win. The answer and winner will be disclosed in next month's newsletter.
Previous Question:
What is the minimum number of credit hours a student must be enrolled in per term to receive federal financial aid?
Answer: 5 credits.
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The Financial Aid and Debt Management team is here to support students in any way possible. We can assist with your budgeting needs, loan navigation, and financial aid understanding. Join our Slack channel (#announcements-financialaid) for the latest updates. Please do not hesitate to contact us at medicinefinaid@uic.edu for assistance!
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