Budget Increase Adjustment Process

Budget increases may be available for students facing unusual expenses within an academic year.  The Student Request for Budget Increase is available here as well as at EVMS Financial Aid. Students must complete a request form and return it with any required documentation to EVMS Financial Aid for consideration.  Requests may be granted based on satisfactorily documented:

  • Dependent child care
  • Paid medical bills not reimbursed by insurance
  • Eligible travel expenses greater than transportation allowance
  • Purchase of personal computer (once per program, proof of purchase by student required) 

All requests will be considered on a case-by-case basis within federal regulations.

If approved, a revised award notice will be sent to the student.  Upon receipt of the revised notice of award, the student may apply for additional loan funding.

Dependent Care Allowance 

Adjustments for dependent care allowances may be made and are based on the dependent’s age and care facility in which they are enrolled. (amounts may be pro-rated for children born during the academic year). Adjustments will not be granted for a dependent spouse unless s/he is physically unable to work. The dependent child must be included in the student’s household size as reported on the FAFSA and must be residing with the student. This figure may be added to the cost of the student budget upon receipt of a written request from the student and documentation of dependents (tax forms, care provider letters and/or receipts from care providers). Dependent care allowances are broken down by dependent age and length of academic year enrolled.

TERM LENGTH

BIRTH - 12 MOS

13 - 23 MOS

AGE 2

PRE-SCHOOL  AGE 3-5

BEFORE / AFTER CARE

(months)

$ 186 PER WK

$182 PER WK

$127 PER WK

$137 PER WK

$92 PER WK

           

8

$6,512

$6,304

$4,399

$4,746

$3,187

9

$7,248

$7,093

$4,949

$5,339

$3,585

10

$8,054

$7,881

$5,499

$5,932

$3,984

11

$8,859

$8,669

$6,049

$6,525

$4,381

12

$9,665

$9,457

$6,599

$7,119

$4,780

Medical and Dental Expenses 

Adjustments for student’s medical and dental expenses will be made for paid expenses that are not covered by insurance and are deemed necessary.  Expenses will be added to the cost of the student budget upon receipt of a written request from the student and documentation of paid expenses.

Transportation 

Adjustments for transportation will be made only if the student provides documentation that he or she has spent more for transportation expenses (insurance, car maintenance, gasoline) than what was allotted in the standard budget for that academic year.  Federal regulations expressly forbid car payments to be added to the student budget.  Expenses will be added to the cost of the student budget upon receipt of a written request from the student and documentation of paid expenses.  Students must maintain a mileage log for all miles driven delineating between authorized educational or basic transportation (i.e., class, rotations, groceries, etc.) as opposed to entertainment or vacation travel.   A complete log of all  other transportation expenses (public transit, bicycle purchase, etc.) with paid receipts must be maintained.  Only when students exceed their budget allowance for an academic year will they be considered for an increase.  Students should plan travel carefully to maximize funds. 

Away Electives 

Adjustments for reasonable expenses incurred during away electives for students will be made only if the student provides documentation of required books and registration fees.  Expenses will be added to the cost of the student budget upon receipt of a written request from the student and documentation of the expenses.

Personal Computer 

Adjustments for the purchase of a personal computer (PDA excluded) will be made once during the student’s academic career, not to exceed $2,200.  Expenses will be added to the cost of the student budget upon receipt of a written request from the student and documentation of the paid expenses.  Funds are divided equally over the student's academic year with funds released on the first day of each term.

Child Support and Alimony 

Child support and alimony payments will appear as an expense on the student’s tax return, thereby reducing the student’s adjusted gross income.  If the income is insufficient to cover the costs, it may be necessary to request a professional judgment to increase the student budget for these expenses.  Expenses may be added on a case by case basis to the cost of the student budget upon receipt of a written request from the student and court documentation of the expenses.

Married Students Who Are Both Attending EVMS  

The standard student budget will be used for each student.

Base Year Income 

Adjustments will not be made to the student’s and/or spouse’s income, or adjusted gross income on the basis of projected income for the next academic year.  Students anticipating medical school enrollment are responsible for contributing to their education.  The nature of financial aid is not what a family is willing to pay, but based on their ability to pay.  Base year income may be adjusted for students who were married at time of application and have since divorced.  Documentation of student and/or spouse’s income is required in order to re-determine adjusted gross income, taxes paid, and wages. 

Residency Interview Travel Expenses 

Although most fourth year medical school students are able to fit their travel expenses into their annual transportation allowance, some need additional assistance.  Within very specific guidelines, it may be possible to have an increase for residency interview travel expenses.  Review Residency Interview Travel Increase Guidelines for full details.  Students need to keep a Student Mileage Log for all travel that year in order to justify funds in excess of annual transportation allowance.  Residency Interview Travel Increase Request form should be used and additional information provided if required.  A Residency Interview Travel Template is available to assist you in gathering needed information.

 

 

 

Revised September 15, 2014