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Frequently Asked Questions

FAFSA/Applying for Financial Aid

  1. What is the FAFSA? How long after completion, does it take for eligible aid to show in RU Access?  

     a. The FAFSA is the Free Application for Federal Student Aid. Anyone who wants financial aid for college will need to fill out the FAFSA (Roosevelt University school code 001749). Usually for new or current students not selected for verification aid will be viewable in 7-10 working days on RUAccess.  For Current students selected for verification, the time frame will vary, as all requested documents must be received and reviewed before aid can be awarded.

  2. What documents are needed to file the FAFSA?  

    a. It’s always good to have completed copies of prior years’ tax returns available as information regarding income will be required on the FAFSA: IRS tax return, W2s, personal bank and investment information.

  3. My parents are divorced. Who should file the FAFSA?  

    a. If your parents are separated or divorced, the custodial parent is responsible for filling out the FAFSA. The custodial parent for federal student aid purposes is the parent with whom you lived the most during the past 12 months.

  4. How long after I turn in all of the requested documents can I expect my requirements to be updated. Can I expect my financial aid award package to be finalized and processed?

    a. Your submitted documents should be updated within three to four business days.  Once your final requirements are met and no further updates to your FAFSA are needed, your file should be processed within 7 to 14 business days. 

  5. When do financial aid packages start being awarded for the fall?  

    a. Pre-awards will begin in mid to late February.

  6. I am an emancipated student – what documents do I need to the file the FAFSA and is there anything else I need to submit to Roosevelt along with the FAFSA?  

    a. Emancipated minor is a formal legal status that must be declared by a court of law.  A judge must legally declare you emancipated and the court order must still be in effect at the time you file your FAFSA.  On the FAFSA, under Dependency Determination, you will answer “Yes” when asked if you are an emancipated minor.  You will be required to submit the court documents that declare your legal status.

Grants/Scholarships

  1. What is the Roosevelt University Grant and Scholarship? How is it determined? Why is it sometimes reduced from my aid package?  

    a. The Roosevelt University Grant is a type of “gift aid” that is funded by Roosevelt and does not need to be paid back.  The amount of Roosevelt University Grant a student receives is usually based on financial need.  Students must complete the FAFSA in order to determine eligibility.  The Roosevelt University Scholarship is also a type of “gift aid” and does not need to be paid back.  However, eligibility is determined by prior academic achievements and/or talents.  Roosevelt grants and scholarships are based upon intended credit hour enrollment (full-time or part-time), residency (living on-campus vs. off-campus), ACT score, GPA (high school or Transfer College) and financial need.  If the status in any one of these areas changes the award can change significantly or be rescinded.  It is important to read the terms and conditions of your awards carefully.

  2. Are there any other scholarships or grants I can get?  

    a. We suggest students use the internet to search for additional financing options.  One such scholarship search site is Fastweb.com.  Also, students can search the Financial Aid website: www.roosevelt.edu/FinancialAid/FATypes/PrivateScholarships

  3. Can I qualify for the Roosevelt University Grant even if I know we do not get federal financial aid such as the MAP Grant and Pell Grant?  

    a. It may be possible if you received it in the past and you have used your maximum years of eligibility with the MAP and Pell programs.  Contact a Financial Aid Counselor.

  4. What determines the Monetary Assistance Program (MAP) Grant Eligibility?

    a. There are various requirements from the State of Illinois for the MAP Grant: the primary requirement is the filing date of the FAFSA, your or your parents (for dependent students) must be residents of the State of Illinois, and your EFC must be below $9000.  You should complete the FAFSA early, preferably prior to March 1 as state funding runs out fast.

  5. What documents do I need to submit for proof of Illinois residency? How long do I have to reside in Illinois before being eligible for Illinois funding?  

    a. You will need to submit a copy of prior years’ State of Illinois tax return.  If you’re a dependent, you will need to submit your parents’ State of Illinois tax return.  You and/or parents must have lived in Illinois for the 12 continuous, full months prior to the start of the academic year for which you are requesting aid and Illinois must be your true, fixed and permanent home.

  6. Why doesn't my financial aid cover my tuition?  

    a. Federal and state maximums for programs haven’t increased in a number of years whereas tuition has.  Options to pay the balance owed may be in the form of a Parent Plus loan or private alternative loan.  Also scholarship searches for outside funding should be pursued.

Loans

  1. What is the length of time for an alternative student loan approval?  

    a. Once the student has been approved by the lender, it can take the Office of Financial Aid from 7 to 14 business days to certify the loan.

  2. Why aren't my loans applied to my account yet?  

    a. You may not have completed all requirements for your financial aid file.  Review RUAccess to verify that you have submitted all required documents.  If you are a first time borrower of a Direct Stafford or Unsubsidized loan, you must complete Direct Loan entrance counseling and sign a Federal Master Promissory note before you can receive your first loan disbursement.

  3. What is the repayment process/timeline for Parent Plus loan? Can it be deferred and under what circumstances?  

    a. Repayment begins 60 days after the last disbursement. For example, if your parents have a loan for the full academic year, repayment would begin within sixty days after the spring disbursement.  The loan servicer will notify the borrower of the date the first payment is due.  If you're a parent PLUS borrower, you can defer repayment of Direct PLUS Loans while the student for whom the loan was obtained for is enrolled at least half time. 

  4. If I took the Direct Loan Counseling tutorial at my other school, do I have to do it again?

    a. No, but you will need to add Roosevelt’s school code (001749) to the counseling tutorial at www.studentloans.gov.

  5. What is a Master Promissory Note?

    a. A Federal Master Promissory Note is a signed agreement with the Federal Government that you will repay the Direct Loan(s) you borrow.

  6. I need more financial assistance than what was given in the financial aid package. How do I apply for additional loans? Where do I go for a private loan?

    a. Private/alternative student loans are offered through private banks/lenders and are meant to provide additional educational funding only after a student and his/her family have exhausted all other sources of funding such as Federal and State aid.  You can find an abundance of information on private/alternative student loans on the internet or any bank that you may currently have a relationship with. Freshman students may be required to apply with a co-borrower. 

Refunds and Books

  1. When do I get my financial aid? When do I get my refund?  

    a. If you have completed all requirements for your financial aid file and enrolled in the proper number of hours, your aid may be paid to your student account just prior to the start of your classes.  If after all charges are paid and there is a credit on your account, the Office of Student Accounts will refund it within three to four business days.  Visit www.roosevelt.edu/studentaccounts to learn about refunds.

  2. Does Roosevelt have book vouchers or book credits?

    a. No.  Students are expected to have resources to cover the cost of books for the semester.  Students may use refunds to pay for books but refunds are processed no earlier than just prior to the start of classes.

Federal Work Study

  1. How else can I get my “allotted” Federal Work Study funds if I can’t find an on campus job?

    a. Federal Work-Study funds are contingent upon the availability of positions and employment in the Federal Work Study program is not guaranteed.

  2. Can I still work on campus if I don’t qualify for Federal Work Study?

    a. Yes.  Currently enrolled students are eligible for part-time hourly student positions regardless of work study qualifications.  Visit www.roosevelt.edu/career for more information.

  3. Can I find a job off campus and use my Federal Work Study funds a non-profit agency in the community?  
     
    a. No.  Federal Work Study awards may only be used for approved employment at the Chicago or Schaumburg Campuses.

Appeals/Forms

  1. How often are special circumstance appeals granted?  

    a. It can vary depending on the documentation provided.  It is important to complete the appeal thoroughly and provide all supporting documentation.

  2. What is the Federal (Title IV) Authorization Form?  What does it mean?

    a. Although there is just one document, it counts for three separate requirements in RU Access.  In the event you have a credit, it tells us if you want it to cover future charges, i.e. hold your refund, and non-institutional charges such as Health Insurance or the CTA UPass, or pay a prior year balance of $200 or less.

Net Price Calculator

  1. How accurate is the net price calculator?  

    a. The calculator is very accurate as long as the correct information was submitted from the beginning.

  2. Outside of net price calculator, how can a student know/determine if they will qualify for Federal Work Study?  

    a. If a student qualifies for federal work study it will be included in their financial aid package.  Students can view their financial aid awards via their RU Access account.

  3. On the net price calculator, there is $8000 included under “other expense.  “What does that include and will this money be paid to the school?  

    a. Other expenses, also known as indirect costs, are items such as your personal expenses, transportation, recreational costs, and other things that are within your control.   These indirect costs are not charged to your tuition account. 

General

  1. If my Expected Family Contribution (EFC) is zero, why do I still have out of pocket costs?  

    a. The EFC is used to determine your eligibility for aid programs.  Most programs have a maximum amount to be awarded.  The combination of the various financial aid programs may not cover the entire cost of the tuition account.  

  2. Why does my financial aid package seem to change from day to day?  

    a. Changes to your aid package can occur as a result of EFC differences resulting from verification of the information you filed, changes in living arrangements from on-campus to commuter, changes by federal and state agencies and enrollment changes.  It is recommended that you log on to RU Access regularly and check for possible updates.  You will receive an email on your Roosevelt email account whenever a change has been made to your aid award.

  3. Why is my aid different this year than it was last year?  

    a. Differences may occur in your family income from year to year, along with changes to your household size and number in college when completing the FAFSA.

  4. My financial aid has been selected for verification. What do I need to do?  

    a. Login to your RU Access account to view what outstanding requirements you have and submit all of them as early as possible.  

  5. What is the turnaround time for follow up/calls/email/assistance from Financial Aid staff?  

    a. We strive to follow-up with students during non-peak times within 48 hours.

  6. I have a question and don’t know who my counselor is.  Who do I call to talk about my aid?

    a. Call 866-421-0935 and leave a detailed message.  Be sure to include your name, Roosevelt ID and phone number.  Your call will be returned in two business days during non-peak periods.

  7. Will I be able to be seen (RUCC or any student service) if I owe the university money?  

    a. Student should contact the Office of Student Accounts to resolve unpaid balances.  Currently enrolled students may utilize services within the university.

  8. Are there any special FA programs for wards of the state?

    a. Follow-up with the State of Illinois.