I have already received an RU Award Offer, should I review subsequent ones anyway?

Yes, RU will send you an additional Award Letter anytime there has been a change in any of your awards. Check the Award Letter carefully. If your enrollment status (or eligibility) has changed, or if you have received additional (or reduced) grants/scholarships/loans, it will be reflected in your Award Letter.

The amount of awards that I have been offered does not cover my costs. Are there any options for paying the balance?

You can set up a payment plan with the Student Accounts Office. Contact them at 312-341-3570. You can also consider a private credit-based loan. You can find an abundance of information on those types of loans on the the internet or any bank that you may currently have a relationship with. Freshman students are required to apply with a co-borrower. Dependent undergraduates should refer to the Parent Loan section below.

I received scholarships and grants that are more than the amount of tuition; do I receive the difference in a refund?

No, the amount of scholarships/grants that you receive cannot exceed the amount of your tuition. Under special circumstances, a scholarship or grant may be earmarked to subsidize living in on-campus housing.

Books

Students are expected to have sufficient funds to pay for their own books at the start of each term. Do not plan on waiting for any anticipated loan refund to buy your books.

PLUS LOANS (Loans to parents)

If you are a dependent, undergraduate student enrolled in at least six hours, this is a loan that your Parent can take out for your educational expenses such as tuition, fees, and dorm. This loan is subject to credit approval by the lender. If you wish to be considered for this loan, contact your Financial Aid Counselor for more information.

SPECIAL CIRCUMSTANCES

If you have circumstances that you believe should be taken into consideration regarding your financial aid eligibility and whose income and is required in making that determination...use this link for general guidance on the issue first - then contact the Office of Financial Aid for more information.

Federal Work Study

If you have been offered Federal Work Study (FWS) on your Award Notification Letter, contact our office to pick up a FWS Packet.  This contains all of the required inforamtion you will need to start looking for a FWS job.  You can not begin looking for a FWS job until your financial aid application has been completed and processed. Prior to being considered for a FWS job, you will be required to bring in proof of identity (e.g. birth certificate/driver’s license) and proof of eligibility to work (social security card).  FWS jobs and funding is on a first-come-first-served need-based basis.  Your opportunity and employment may cease accordingly. Ask about our new exciting opportunities with the Jump Start Program.

Illinois Monetary Award Program

By applying for financial aid and agreeing to share this information with the Illinois Student Assistance Commission (ISAC), you have been considered for the State of Illinois (IL) Monetary Award Program (MAP) Grant (undergrads only). If you were determined to meet the eligibility criteria for the MAP grant, an award is included on this award letter. This award may be an estimate made by the financial aid office and, if so, will be listed as a "State of IL MAP Grant (Est)" on your funding letter. MAP grants are limited and based on the number of applicants and funding appropriated by the Ill. General Assembly. Please be aware that due to state funding constraints, reductions to your estimated or actual MAP grants may occur.

Eligibility for a MAP grant is being tracked by the equivalent number of semester credit hours of MAP benefits paid on your behalf. This is called MAP Paid Credit Hours. Payment for each term is being made according to the equivalent number of credit hours eligible for MAP payment, with a minimum of 3 and a maximum of 15 MAP Paid Credit Hours.

There is a limit on the number of MAP Paid Credit Hours that can be paid while you are classified by your school as a freshman and sophomore. This limit is the equivalent of 75 MAP Paid Credit Hours. If this maximum is reached, you must attain Junior status before your MAP grant eligibility can resume. The maximum number of MAP Paid Credit Hours that a student can receive during their undergraduate career is 135. Once this maximum is reached you are no longer eligible for the MAP award. Your financial aid counselor will review your financial aid information to determine your eligibility for this award.

Canceling or Reducing Offered Awards

To cancel any of the awards offered on your Award Notification Letter, write “decline” next to the award. To accept a reduced amount of any of the awards offered, neatly cross out the amount and write the reduced amount next to it. Sign the Award Letter, and return it to our office within 10 days. You can also contact your Financial Aid Client Services Team to assist you at any point in this process.

Satisfactory Academic Progress

In addition to the academic and enrollment criteria to maintain certain scholarships and grants, you must meet the federally mandated Satisfactory Academic Progress Standards to continue receiving any form of financial aid including loans. You must maintain a 2.0 grade point average at all times and earn 67% of the credits for which you originally enrolled. Failure to maintain these standards will result in loss of financial aid. It is each student’s responsibility to monitor his or her own SAP status. Contact the Financial Aid Office if you have any questions regarding these standards. Click here to view the complete SAP policy.

Institutional Eligibility

Students may request to see copies of the university's institutional eligibility and certification form by making an appointmnet with a financial aid counselor.  Copies of the university's accreditation status is viewable on-line in the Office of the Registrar's website.

Federal Return of Title IV Funds

Financial Aid students who completely withdraw prior to the 60% period of the term are required to return all or a portion of Title IV funds (e.g. Federal Loans and Grants). The Federal formula dictates the amount of Title IV aid that must be returned to the federal government by the school and the student. The date of withdrawal for calculation purposes is the date the student officially withdraws with the Registrar’s office as or documented by this institution.