Overview of Financial Aid Office of Student Financial

Overview of Financial Aid Office of Student Financial Aid Rush University

INTRODUCTION The Office of Student Financial Aid supports University students on tuition cost, student loan eligibility and repayment, grants, scholarships, work study eligibility and onboarding process. Some of the items that you will work with us on frequently include: • Award Financial Aid Packages • Timing for disbursements of aid • Providing students with education about applying for aid, loans, budgeting, etc. 2

APPLYING FOR AID • Complete the Free Application for Federal Student Aid (FAFSA) if not already done so • Include your parent information on the FAFSA if under the age of 30 at the time of starting the program if you are requesting to be considered for institutional financial aid • Complete any additional forms as requested by the Office of Student Financial Aid

FINANCIAL AID AWARD OFFER • Award offer will be emailed to students if all FA paperwork is completed • Emailed to the Rush email account (if set up) • Aid package can be viewed on the Rush University Portal at: https: //rushuportal. learning. rush. edu

COST OF ATTENDANCE M 1 YEAR Cost of Attendance/Budget Tuition Cost Book and Supply Allowance M 1 FALL 20 $22, 804 $517 M 1 SPR 21 $22, 804 $0 M 1 SUMR 21 $11, 405 $517 TOTAL $57, 014 $1, 034 Living Expense Allowance (per month) Transportation (CTA Pass) # months of enrollment Total Cost of Attendance/Budget $2, 418 $0 5 $35, 411. 00 5 $34, 894. 00 0 $11, 922. 00 $4, 836 $0 10 $82, 227 Financial Aid Awards Institutional Loans Institutional Grants Unsubsidized Loan gross Grad Plus Loan gross Total Financial Aid Awarded $0 $0 $21, 360 $14, 051 $35, 411. 00 $0 $0 $9, 438 $25, 456 $34, 894. 00 $0 $0 $11, 922. 00 $0 $0 $42, 720 $39, 507 $82, 227 Academic Calendar Term Dates Year -Term Start Date End Date M 1 -Fall 20 M 1 - Spring 21 M 1 - Summer 21 8/31/2020 1/4/2021 5/10/2021 12/19/2020 5/1/2021 8/28/2021

DISBURSEMENT TIMELINE • Financial Aid overpayments will be available twice a year • Aid to cover tuition will disburse more frequently based on the actual term dates listed below: • M 1 Fall term: August – December = tuition + overpayment • M 1 Spring term: January – April = tuition + overpayment in February • M 1 Summer term: May – June = tuition only **Per federal regulations in order for Medical students to become eligible for their second payment period disbursements, they must complete half of the weeks AND half of the coursework in an academic year. Based on the current M 1 academic plan it is estimated that the second payment period will begin in February. Estimated 2 nd disbursement is approximately mid-January 2021. More information will be provided once Financial Aid packages are released.

BUDGETING • Budgeting is a must throughout your time at Rush University • Your overpayment checks are issued to cover living expenses for a set number of months expenses (10 Months for the M 1 year) • Living expense allotment • $2, 418 is allocated per month of enrollment for living expenses for students off campus • $987 is allocated per month of enrollment for living at home with parents

OVERPAYMENT CHECKS • Aid is first applied to charges on your account (tuition, etc. ) • Funds in excess of term charges will be issued to you via direct deposit or in the form of a check • Sign up for direct deposit once you get close to the start of the semester; paper checks will be mailed if you do not sign up for direct deposit • The Office of Financial Affairs will distribute the overpayment checks.

NEXT STEPS • Complete FAFSA online at www. fafsa. ed. gov (if not already done so) • Complete student loan documents online at studentloans. gov/mydirectloan • Master Promissory Note (MPN) (for both types of loans) • Direct Loan Entrance Counseling (EC) • Complete the M 1 Credit Policy Statement form • Complete the 2020 -21 Graduate PLUS Loan Origination Form (if accepting Graduate PLUS loan) • Review your aid package and accept the aid you need for your tuition and other expenses • Complete required documents for institutional loans starting in July 2020 – communication will come from Heartland ECSI

QUESTIONS & ANSWERS Office of Student Financial Aid Rush University Email: financial_aid@rush. edu Phone: 312 -942 -6256