Federal Student Financial Aid
The Seattle Institute of Oriental Medicine participates in the William D. Ford Federal Direct Loan (Direct Loan) Program. Learn more about Direct Loans.
Cost of Education
Students in the M.Ac.O.M. and the M.Ac. programs may borrow up to the estimated cost of attendance (CA), which covers tuition, books, room, board, transportation, and personal expenses for each academic year. Depending upon eligibility, students may borrow up to $20,500 in unsubsidized Direct Loans. Any remaining need, up to the CA, which is set annually, can be met with a PLUS loan. We encourage students to calculate their budgets based on individual needs and borrow only the necessary amount to fund their education.
Financial aid is disbursed each trimester. Students will be issued their financial aid in excess of their tuition for the trimester, normally by the 1st Friday of each term. To make adjustments to current award packages, students must submit their request at least eight weeks prior to the scheduled upcoming disbursement date. Contact the Financial Aid Office if you have any questions.
1. Complete and File the Free Application for Federal Student Aid (FAFSA)
Each applicant must fill out the Free Application for Federal Student Aid (FAFSA) each year for which aid is requested. Before completing the FAFSA, each student will have to request a personal identification number (PIN). SIOM's federal school code is G32803.
2. Virtual Financial Aid Office
After completing the FAFSA, go to our Virtual FA office.
3. New SIOM Students Must Complete Direct Loan Entrance Counseling
If you have not previously received a student loan through SIOM, you must complete Direct Loan Entrance Counseling before you can receive a Direct Loan. If you are planning to apply for a PLUS loan, make sure to complete the correct counseling session for PLUS loan borrowers.
A Federal Student Aid PIN is required to complete online Direct Loan Entrance Counseling.
4. First-Time Direct Loan Borrowers Must Complete a Direct Loan MPN
If you have not previously received a Direct Loan at SIOM, you must complete a Direct Loan Master Promissory Note (MPN) for your Unsubsidized Loan AND an additional one if you are applying for a PLUS Loan. The MPN is the legal document through which you promise to repay your Direct Loans and any accrued interest and fees to the Department. It also explains the terms and conditions of your loans.
5. If Applying for a PLUS Loan, Complete the Direct PLUS Loan Application and PLUS MPN
If you need to borrow more than the maximum of 20,500 in unsubsidized Direct Loans, you have the option of applying for a PLUS Loan. Total loans cannot exceed the cost of attendance (CA). You must complete the Direct PLUS Loan application each year and complete a PLUS Master Promissory Note (MPN) the first time you apply as a SIOM student. A credit check will be performed during the PLUS application process. In some cases, students may need an endorser to qualify.
Questions? Email finaid[at]siom.edu
title ix code of conduct
As part of its responsibilities as a participant in federal loan program, Seattle Institute of Oriental Medicine is required by the Department of Education to develop, publish, and enforce a code of conduct. The code of conduct requirements are set forth in the Higher Education Opportunity Act (HEOA) signed into law on August 14, 2008. The below code of conduct applies to all officers, employees, and agents of the Seattle Institute of Oriental Medicine (SIOM).
REASON FOR THE POLICY:
All colleges and universities participating in Title IV financial aid programs, including student loan programs, are required a code of conduct which must be enforced as part of the HEOA program participation agreement. Such code must prohibit a conflict of interest with the responsibilities of an agent or employee of an institution with respect to such loans, and include the provisions set forth in HEOA related to conflicts. The law further specified that the code shall be displayed prominently.
BAN ON REVENUE SHARING AGREEMENTS: Neither SIOM, nor any of its officers, employees or agents will enter into any revenue-sharing arrangements with any lender, which is defined by the Higher Education Opportunity Act of 2008, amending the Higher Education Act of 1965, Pub. L. # 110-315 (2008), (HEOA) as any arrangement between a school and a lender that results in the lender paying a fee or other benefits, including a share of its profits, to the school, or its officers, employees or agents, as a result of the Institute recommending the lender to its students or families of those students.
BAN ON GIFTS: SIOM financial aid office employees (or employees who otherwise have responsibilities with respect to education loans or financial aid) will not accept gifts from any lender, guaranty agency or loan servicer. A ‘gift' is defined as any gratuity, favor, discount, entertainment, hospitality, loan, or other item having monetary value of more than a de minimus amount. This prohibition is not limited just to those providers of Title IV loans but includes lenders of private educational loans as well. HEOA does provide for some exceptions related to specific types of activities or literature. This includes:
Brochures or training material related to default aversion or financial literacy.
Food, training or informational materials as part of training as long as that training contributes to the professional development of those individuals attending the training.
Favorable terms and benefits to the student employed by the institution as long as those same terms are provided to all students at the institution.
Entrance and exit counseling as long as the institution's staff are in control and they do not promote the services of a specific lender.
Philanthropic contributions from a lender, guarantee agency or loan servicer unrelated to education loans.
State education, grants, scholarships, or financial aid funds administered by or on behalf of the State.
BAN ON CONTRACTING ARRANGEMENTS: SIOM financial aid office employees (or employees who otherwise have responsibilities with respect to education loans) will not accept any fee, payment or financial benefit as compensation for any type of consulting arrangement or contractto provide services to or on behalf of a lender relating to education loans.
PROHIBITION AGAINST STEERING BORROWERS: SIOM and its officers, employees or agents will not steer borrowers to particular lenders, or delay loan certifications. This prohibition includes assigning any first-time borrower's loan to a particular lender as part of the award packaging process or through other methods
PROHIBITION ON OFFERS OF FUNDS FOR PRIVATE LOANS: SIOM and its officers, employees or agents will not request or accept any agreement or offer of funds for private loans. This prohibition includes any offer of funds for loans to students at the institution, including funds for an opportunity pool loan, in exchange for providing concessions or promises to the lender for a specific number of loans, or inclusion on a preferred lender list.
BAN ON STAFFING ASSISTANCE: SIOM and its officers, employees or agents will not request or accept any assistance with call center staffing or financial aid office staffing. However, HEOA does not prohibit schools from requesting or accepting assistance from a lender related to:
Professional development training for financial aid administrators.
Providing educational counseling materials, financial literacy materials, or debt management materials to borrowers, provided that such materials disclose to borrowers the identification of any lender that assisted in preparing or providing such materials.
Staffing services on a short-term, nonrecurring basis to assist the school with financial aid-related functions during emergencies, including State-declared or federally declared natural disasters, and other localized disasters and emergencies identified by the Secretary.
BAN ON ADVISORY BOARD COMPENSATION: Employees of SIOM will not receive anything of value from a lender, guarantor, or group in exchange for serving on an advisory board. They may, however, accept reimbursement for reasonable expenses incurred while serving in this capacity.
SANCTIONS: An employee that violates this Code of Conduct shall be disciplined in a manner consistent with applicable college policies, procedures, or collective bargaining agreements. Disciplinary action may include termination of employment at SIOM.