Isakson & Roe Section 1018 Requirements
Johnny Isakson and David P. Roe, M.D. Veterans Health Care and Benefits Improvement Act of 2020, adds new requirements for educational institutions participating in the educational assistance programs of the Department of Veterans Affairs (VA). These new provisions became effective June 15, 2021 and will apply to Institutions of Higher Learning and Non-College Degree institutions beginning August 1, 2021. Many of the requirements are consistent with the requirements of the Principles of Excellence, currently in Executive Order 13607; however, there are requirements in addition to those embodied in the Principles of Excellence that schools must also satisfy to maintain approval for GI Bill® participation.
Schools must provide a covered individual (a student using benefits under chapter 30, 31, 32, 33, or 35 of title 38, U.S.C., or chapter 1606 of title 10, U.S.C.) with a personalized shopping sheet that contains:
Estimated total cost of the course that includes tuition, fees, books, supplies, and any other additional costs.
For specific costs associated with each program, please refer to your program website.
Estimates of future costs and aid eligibility are subject to change based on factors that cannot be reliably predicted. Unforeseeable variables could result in a student’s actual costs and aid eligibility being higher or lower than program-length estimates provided.
Estimated cost of living expenses
Touro University’s Financial Aid office develops an estimate of the Cost of Attendance (COA) for each student that includes tuition, fees, books, supplies, room and board, transportation, and miscellaneous costs associated with attending Touro University. A student’s actual costs may vary depending on their own unique circumstances. To estimate your cost of attendance before applying, please use our Net Price Calculator.
Estimates of future costs and aid eligibility are subject to change based on factors that cannot be reliably predicted. Unforeseeable variables could result in a student’s actual costs and aid eligibility being higher or lower than program-length estimates provided.
Amount of costs that are covered by VA Education Benefits.
To learn more about what costs are covered by your VA Education Benefits, please visit the VA GI Bill® Comparison Tool.
Estimates of future costs and aid eligibility are subject to change based on factors that cannot be reliably predicted. Unforeseeable variables could result in a student’s actual costs and aid eligibility being higher or lower than program-length estimates provided.
Other types of Federal financial aid, not administered by VA that is offered by the institution, that the individual may be qualified to receive.
To learn more about the student aid programs available to Touro University students, please visit our Financial Aid Homepage under your program’s website.
Estimates of future costs and aid eligibility are subject to change based on factors that cannot be reliably predicted. Unforeseeable variables could result in a student’s actual costs and aid eligibility being higher or lower than program-length estimates provided.
Estimated amount of student loan debt the individual would have upon graduation.
The maximum amounts that students enrolled at Touro University can borrow are as follows:
Annual limits for sub/unsub loans
| Dependent undergraduates (excluding dependent students whose parents can’t get PLUS) | Total (sub and unsub) | Maximum sub |
|---|---|---|
| First Year | $5,500 | $3,500 |
| Second Year | $6,500 | $4,500 |
| Third Year and Beyond | $7,500 | $5,500 |
| Independent undergraduates and dependent students whose parents can’t get PLUS | Total (sub and unsub) | Maximum sub |
| First Year | $9,500 | $3,500 |
| Second Year | $10,500 | $4,500 |
| Third Year and Beyond | $12,500 | $5,500 |
| Graduate and Professional Students | $20,500 (unsubsidized only) | Maximum sub |
| All years | $20,500 | $0 |
The actual amount a student is eligible for is determined by a number of individual factors including the student’s TU and program length. Students are required to do entrance counseling, sign a Master Promissory Note, and accept their offered awards on TouroOne portal.
Information regarding graduation rates.
Touro University is required annually to report graduation rates to our institutional accreditor, our program accreditors, and our authorizing entities. Graduation rate data is available on our Graduation Rate Disclosure page.
Information regarding the acceptance of transfer credits including military credits.
For our transfer credit policies, please refer to our University Catalogs.
Any additional requirements including training, experience, or examinations that are required to obtain a license, certification, or approval for which the course of education prepares the individual.
For comprehensive information about all academic programs offered, including additional requirements such as certification and licensure examinations, please visit our academic programs web page and contact your program of interest.
Other information to facilitate comparison by the individual about aid packages offered by different educational institutions.
Financial Aid Shopping Sheet – All information required in a Financial Aid Shopping Sheet is included on this disclosure page.
College Scorecard
College Navigator
Net Price Calculator
GI Bill® Comparison Tool
Schools must maintain policies that:
Inform an enrolled covered individual of the availability of federal financial aid, not administered by VA that is offered by the institution.
All students, regardless of their ability to pay, are highly encouraged to complete a FAFSA. Additionally, information about the types of aid available to Touro University students is posted on the Financial Aid Home Page under your program’s website.
Alert the individual of the potential eligibility for other federal financial aid before packaging or arranging student loans or alternative financing.
Types of loans available through Touro University are:
Direct Subsidized Loans and Direct Unsubsidized Loans are federal student loans offered by the U.S. Department of Education (ED) to help eligible students cover the cost of higher education at a four-year college or university, community college, or trade, career, or technical school.
Quick Overview of Direct Subsidized Loans
Who can get Direct Subsidized Loans?
Direct Subsidized Loans are available to undergraduate students with financial need.
How much can you borrow?
Your school determines the amount you can borrow, and the amount may not exceed your financial need.
Who will pay the interest?
The U.S. Department of Education pays the interest on a Direct Subsidized Loan
- while you’re in school at least half-time,
- for the first six months after you leave school (referred to as a grace period*), and
- during a period of deferment (a postponement of loan payments).
Quick Overview of Direct Unsubsidized Loans
Who can get Direct Unsubsidized Loans?
Direct Unsubsidized Loans are available to undergraduate and graduate students; there is no requirement to demonstrate financial need.
How much can you borrow?
Your school determines the amount you can borrow based on your cost of attendance and other financial aid you receive.
Who will pay the interest?
You are responsible for paying the interest on a Direct Unsubsidized Loan during all periods.
Interest Rates for Direct Loans First Disbursed on or After July 1, 2022, and Before July 1, 2023
|
Loan Type |
Borrower Type |
Fixed Interest Rate |
|---|---|---|
|
Direct Subsidized Loans and Direct Unsubsidized Loans |
Undergraduate |
4.99% |
|
Direct Unsubsidized Loans |
Graduate or Professional |
6.54% |
|
Direct PLUS Loans |
Parents and Graduate or Professional Students |
7.54% |
All interest rates shown in the chart above are fixed rates. A fixed rate will not change for the life of the loan.
Most federal student loans have loan fees. These fees are a percentage of the total loan amount.
A loan fee comes out of the amount of money that is disbursed (paid out) to you while you’re in school. This means the money you receive will be less than the amount you actually borrow.
You’re responsible for repaying the entire amount you borrowed and not just the amount you received.
The chart below shows the loan fees for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans first disbursed on or after Oct. 1, 2019.
Loan Fees for Direct Subsidized Loans and Direct Unsubsidized Loans
|
First Disbursement Date |
Loan Fee |
|---|---|
|
On or after 10/1/20 and before 10/1/23 |
1.057% |
|
On or after 10/1/19 and before 10/1/20 |
1.059% |
Loan Fees for Direct PLUS Loans
|
First Disbursement Date |
Loan Fee |
|---|---|
|
On or after 10/1/20 and before 10/1/23 |
4.228% |
|
On or after 10/1/19 and before 10/1/20 |
4.236% |
Loans first disbursed prior to Oct. 1, 2019, have different loan fees.
Amount begins six months after the student ceases to pursue at least six credit hours at an institution of higher education.
Loan Eligibility Checklist:
- Enrolled at least half-time (6 or more credit hours) at the time of loan disbursement.
- Enrolled in an eligible degree program at Touro University.
- Not currently in default on a prior student loan.
- Completed the FAFSA and submitted verification documents (if required).
- Maintain Satisfactory Academic Progress.
Loan Application Process:
- Complete Direct Master Promissory Note
- Complete Entrance Counseling
- Loan Process:
- Federal Student loans are accepted/declined or reduced by students on their Touro One portal.
- A loan is Originated if the student meets the criteria listed above in the Loan Eligibility Checklist.
- Originated loan funds are disbursed in one disbursement during each semester one time per semester
- When the student’s “final period of study is shorter than an academic year” – their student loan eligibility will be prorated
Allow enrolled members of the Armed Forces, including reserve components and National Guard to be readmitted if such members are temporarily unavailable or must suspend enrollment by reason of serving in the Armed Forces. Accommodate short absences for such services in the Armed Forces.
Touro University allows for students to suspend enrollment for the reason of serving in the Armed Forces. For more specific information, please refer to the University Catalog.
Schools must provide covered individuals with the requirements for graduation and a graduation timeline.
All students are provided graduation requirements and timelines. The requirements are outlined in the University Catalog.
Accredited education institutions agree to obtain approval of the respective accrediting agency for each new course or program.
Touro University is accredited by the Middle States Commission on Higher Education, (MSCHE) an agency recognized by the United States Secretary of Education and the Council for Higher Education Accreditation. For more information on MSCHE Accreditation, go to the our accreditations page.
Schools must designate an employee of the educational institution to serve as a point of contact for covered individuals and family members seeking assistance with:
Academic Counseling – Touro University advisors and counselors for specific programs. Please contact your program for their contact information.
Financial Counseling – Albina Lyskova, Associate Director of FA, albina.lyskova@touro.edu
Disability Counseling – Office of Student Disability Services
Other information regarding completing a course of education at the education institution - Office of Veteran Student Affairs
