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Types of Financial Aid

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The financial aid available to students can be categorized into three groups: scholarships and grants, loans, and work-study. To maximize the amount and types of aid received, all students are encourage to submit the Free Application for Federal Student Aid (FAFSA®).

Scholarships and Grants

Scholarships and grants are forms of aid which do not require repayment and are awarded based upon a student's academic abilities and financial need.

Roosevelt considers all new students for scholarships at the time of admission. These scholarships awards are granted based upon your previous academic record, or in some programs your interview or audition. Additional endowed scholarships are awarded on a competitive-basis each year.

Students may also wish to apply for private scholarships, which are often funded by nonprofit or private organizations.

Grants may include federal or state funded programs, as well as University grants. Graduate students within the University's Assistantship Program receive a partial- or full-tuition grant, as well as a minimal annual stipend.

Explore the University's Scholarship and Grant Programs:

Learn more about scholarships and grants by visiting the U.S. Department of Education's Federal Student Aid.

Loans

Education Loans are a form of aid borrowed from either the government or a private lender to finance expenses directly related to the cost of attending college. The loan must be repaid and is subject to the terms and conditions determined by the lender. Students are encouraged to carefully consider all loan options before borrowing.

You should compare the Federal Loan and the Private Education Loan.

Federal Loans are part of the financial aid awarded to students who successfully submit the FAFSA (Free Application for Federal Student Aid). The loan has two parts based on the federal student aid eligibility evaluation process used by the U.S. Department of Education: (1) Subsidized/the government pays the interest accrued while the student is enrolled, and (2) Unsubsidized/the student is responsible for the interest as soon as the loan is disbursed to the school where the student is enrolled. Learn more about Federal Loans.

Federal PLUS Loans are provided by the U.S. Department of Education to the parents of dependent undergraduate students and to graduate/doctoral level students. For more information about Federal PLUS Loans, review the information provided by the U.S. Department of Education.

Private Education Loans are obtained by student and/or parent application directly to the lender. Private loans are designed to assist students and their families to meet the cost of attendance not met by other types of financial aid or personal resources. Before you apply for a private loan, Roosevelt University recommends researching all federal forms of aid, including PLUS loans, as they may be more favorable to borrow. A private loan can be awarded up to the cost of attendance minus any other financial aid you have already received. Loan approval is generally based on credit worthiness and ability to repay.

Selecting a Private Loan – Roosevelt University does not promote or endorse any private education loan lender. ElmSelect is a loan comparison tool that assists borrowers in selecting a private loan based on borrowing factors such as interest rate, loan terms and conditions and repayment. Please review lender information carefully and contact the lender with questions. ElmSelect lists several of the loan companies from which our students have chosen to borrow during the previous aid year.

Work-Study

Roosevelt University offers a variety of employment options to our students. Placement into one of the University's work-study opportunities requires that you apply for the job through the Office of Career Services.