Financial Services

LMU-Knoxville Office of Financial Services

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.

Estimated Costs of Attendance and Budgets

Tuition ($13,650.00 per semester; does not include loan fees)                $  95,550.00

  •  Fees

    Student Activity Fees

    ($150.00 first semester, $100.00 second-fourth semester, $25.00 per clinical semester)


    Technology Fees


    Testing Fees


    Comprehensive Fee


    Anatomy Laboratory Fee


    AHA Training Fee


    Graduation Fee


    Professional Membership Fees (AAPA, TAPA, AASPA) **


    ** Students are encouraged to become a student member for the following professional organizations: American Academy of Physician Assistants (AAPA), Tennessee Academy of Physician Assistants (TAPA), and American Association of Surgical Physician Assistants (AASPA). 

  •  Estimated Costs of Student Credentialing
    Criminal Background Check ($20.00/ report) $40.00
    Drug/ Alcohol Screens
    ($80.00/ screen)
    Fingerprinting $50.00
    Hepatitis B Vaccine Series $160.00
    Annual Influenza Vaccine $30.00
    Varicella Vaccine $50.00
  •  Supplies
    Books $2,500.00
    Computer $1,250.00
    Diagnostic Equipment $1,250.00
    Cadaver Dissection Tools $150.00
    Scrubs $150.00
    White Laboratory Coat $50.00
  •  Living Expenses
    Housing ($1,250.00/ month) $33,750.00
    Meals ($450.00/ month) $12,150.00
    Clothing, Cell Phone, Other Expenses ($200.00/ month) $5,400.00
  •  Transportation
    Gasoline ($300.00/ month) $8,100.00
    Auto Insurance
    ($100.00/ month)
    Auto Maintenance ($50.00/ month) $1,350.00
  •  Insurance
    Private Health Insurance ($300.00/ month) $8,100.00


  •  Total Estimated Costs of Attendance and Budgets

Finanical Services

  •   How to Apply for Financial Aid

    Create a FSA ID and password if you do not already have one. An FSA ID is required to file your Free Application for Federal Student Aid (FAFSA). You can create one at .

    Complete the 2021-2022 Free Application for Student Aid (FAFSA) as soon as possible after October 1, 2020 at LMU's federal school code is 003502. You will need your 2019 federal income tax return (or an estimate), W-2 forms, records of untaxed income, bank statements, investment information, etc. Retain these documents in a file so that they are readily available if requested at a later date by the Financial Services Office. If you are eligible to use the IRS Data Retrieval Tool on the FAFSA, it is the easiest and most accurate way to provide your tax data. As a graduate student, we do not require your parental information on the FAFSA.

    If you do not receive the results of your FAFSA (in the form of a Student Aid Report, or SAR) within a few days of submission, you should check the status of your application by selecting “Check Status of a Submitted FAFSA” under the FAFSA Follow-up section of the FAFSA home page. It is important that you review the information for accuracy and make corrections if necessary.

    If your FAFSA is flagged for verification by the federal processing center, you will receive a computer generated missing information letter from the Office of Financial Services notifying you of the information required to complete verification (such as a federal tax return transcript and a verification form). Since graduate students are no longer eligible for Direct Subsidized Loans, we can waiver verification requirements that pertain to income and you may disregard the request.

    If your FAFSA is flagged for a reason other than verification, you must submit the requested documentation. Examples include documentation concerning your citizenship status, Social Security Administration data conflicts, Unusual Enrollment History. Submit documentation to the Office of Financial Services.

    You will receive an email notification when your financial aid award has been made. The email will contain instructions on accessing your awards in MyLMU Self-Service Financial Aid. You should immediately go to your MyLMU account to review the amounts awarded under each loan program and accept or decline each award. Once this process is complete, be sure to click the “Submit” button. All loans will be awarded at maximum eligibility. If you want to borrow less that the amount awarded, send an email to the Office of Financial Services requesting the reduction.

  •   General Eligibility Requirements

    * Student must be a United States citizen or national, or an eligible
    noncitizen with appropriate documentation.
    * Student must be enrolled as a regular student.
    * Student must show demonstrated financial need determined through the approved need analysis system each academic year.
    * Student must not owe a refund of or be in default on Title IV funds, and must sign a certification to that effect.
    * Student must file a Statement of Educational Purpose each academic year.
    * Student must be registered with Selective Service if required, and either confirm that registration or file a Statement of Registration Status each academic year.
    * Student must maintain satisfactory academic progress.
    * Student may not exceed allowable loan limits under any program.
    * Student must complete the verification process if required to do so.
    * Student must provide a verified social security number.
    * Student must not have had federal benefits suspended or terminated as a result of a drug conviction.
    * Student must be credit worthy if applying for GRAD Plus or alternative loans.

  •   Student Rights and Responsibilities

     Students have the right to know:

    * The names of the institutions accrediting or licensing organizations.
    * The cost of attendance and the institutional policy on refunds to students who withdraw or stop attending.
    * Financial aid programs available for Physician Assistant students.
    * Deadlines that are in place and enforced.
    * Criteria used to select financial aid recipients and how need is determined.
    * The portion of your financial aid that must be repaid, due dates, and procedures.
    * How the institution determines satisfactory academic progress and what happens if you are not in compliance.
    * Special facilities and services available to the disabled.

    Students have the responsibility to:

    * Review and consider all information about the institution’s program before you enroll.
    * Complete all application forms correctly and submit them on time, to the right place.
    * Submit all documentation, corrections or new information requested by either the Office of Financial Services, the agency to which you submitted your application, or your chosen lender.
    * Read, understand, and keep copies of all forms you are asked to sign.
    * Comply with the provisions of any promissory note and all other agreements you sign.
    * Comply with deadlines for the payment of tuition.
    * Notify the institution of a change in your name or address. If you have a loan, you must also notify your lender of these changes.
    * Understand the institutions refund policy.
    * Report to the Office of Financial Services any outside scholarship or other assistance you are receiving that is not listed on your financial aid award letter.
    * Provide written permission before personal information can be released to outside parties.

  •   Loan Programs

    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.

  •   Loan Processing

    If you accept student loans, follow the steps below to complete your loan processing.
    1. Read the “Financial Aid Award Conditions”.
    2. Print the “Title IV Fund Payment Authorization.” Complete and return the form to the LMU-Knoxville Financial Services Office via email.
    3. Follow the instructions in “Steps Required to Receive My Student Loan(s)” by completing your loan entrance counseling and e-signing your Master Promissory Note (MPN).

    You must complete all three steps or your loans will not be processed.

  •   Refund of Institutional Tuition

    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.

    Refund Schedule
    Applicable institutional charges will be refunded according to the following schedule:

    During the first week of the semester: 100%
    During the second week of the semester:   75%
    During the third week of the semester:   50%
    During the fourth week of the semester:   25%
    After the fourth week of the semester:     0%

    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.

  •   Obtaining a Credit Report

    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:


    Credit reporting agency information:





    Credit criteria used to review/approve Grad Plus Loans can include the following:

    * Absence of negative credit
    * No bankruptcies, foreclosures, repossessions, charge-offs, or open judgments
    * No prior educational loan defaults unless paid in full
    * Absence of excessive past due accounts (e.g. no 30-, 60-, 90-day delinquent consumer loans or revolving charge accounts).

    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.

  •   Outside Sources of Financial Aid for PA Students

    The National Health Services Corps (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.


    Armed Forces Health Professions Scholarship Program

    US Army Medical Corps
    Army Health Care Recruiting, SSG Kyle R. Kaneris, 404.441.2233,

    US Air Force
    Health Professions Recruiter, TSgt Byron Blanchard, 615.885.9665 or 615.571.6158,

    US Navy
    Medical Recruiting, Jeffrey Phillips, 865.388.7487,

    The National Institutes of Health


    Fastweb Scholarship Search Database


    FinAid Scholarship Database