RMUoHP participates in the Federal Direct Student Loan (Stafford/PLUS) program (commonly referred to as federal student loans) offered through the US Department of Education (ED). Eligibility for federally-funded financial aid is established by the US Department of Education regulations. All of RMUoHP’s degree seeking programs are eligible for Federal Direct Student Loans.

RMUoHP offers two different types of Direct Stafford Loans: Unsubsidized Loans disbursed between July 1, 2020 and June 30, 2021 will accrue interest at a rate of 4.3%. Eligible students can receive up to $10,250 of unsubsidized funds per term. These funds will go towards tuition and fees. Grad PLUS Loans disbursed between July 1, 2020 and June 30, 2021 will accrue interest at 5.3%. The amount of Grad PLUS loans students can receive depends on their FAFSA information and program’s Cost of Attendance (COA).

Federal Loans must be repaid. Interest rates are low and repayment begins six months after graduation or if students withdraw from courses for all Stafford loans. Students are encouraged to borrow no more than they need to complete their educational program.

30 Day Report

What is the federal CARES Act?

The federal Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020. The act provides financial compensation and support to multiple layers of the U.S. economy, including businesses, individuals, unemployment benefits, and education.

How much money will RMUoHP receive?

The CARES Act allocated nearly $14 billion to support colleges and universities around the country. RMUoHP will receive $223,276. The Department of Education guidelines require at least 50% of received funds be used to provide emergency cash grants for students. RMUoHP intends to use 100% of the funds for emergency aid for students.

Why is RMUoHP receiving these funds?

Funds have been provided to support students who have demonstrated financial need and experienced financial hardship as a result of the COVID-19 pandemic.

Why does every school receive a different amount? What factors were considered by the Department of Education?

The Department of Education awarded funds based on a formula prescribed in the CARES Act that is weighted significantly by the number of full-time students who are Pell-eligible, but also takes into consideration the total population of the school, and the number of students who were not enrolled online on a full-time basis before the coronavirus outbreak.

What direction did RMUoHP receive in determining how to allocate the funds?

The Department of Education provided guidance on how to use a portion of the funds “to provide cash grants to students for expenses related to disruptions to their educations due to the COVID-19 outbreak, including things like course materials and technology as well as food, housing, health care, and childcare.”

How did RMUoHP determine where to use the funds?

Immediately following the passage of the CARES Act, the Financial Aid Office reviewed legislation and made a recommendation for the delivery of the funds to students. RMUoHP leadership designated a Student Relief Fund committee that consisted of representatives from departments across campus, to determine how to award CARES Act funds as well as emergency aid provided by RMUoHP.

Which students will receive CARES Act money?

All students who receive this funding must be federal financial aid-eligible. To be eligible for funding consideration, you must:

  • Be enrolled in at least 3 credits during 2020
  • Have completed the 2019/2020 and/or 2020/2021 FAFSA and be eligible to receive federal financial aid.
  • Complete the Student Relief Fund application by the deadline of May 15th (for the first half of the CARES Act Fund), and by November 4th (for the second half of the CARES Act Fund).

If awarded, how will students be notified and receive funds?

Note: The Cares Act Funds allocated to RMUoHP in the amount of $223,267.00 were fully disbursed to awardees as of December 15, 2020.

Eligible students were notified via their RMUoHP email accounts. Awards were disbursed via direct deposit on June 5th and on November 20th.

Full report of the Cares Act Funds is available on the link above.

Do students have any limitations on how they can spend the money?

As outlined by the Department of Education, the funds should be used to address unexpected expenses related to disruptions of campus operations due to coronavirus, such as for food, housing, healthcare, technology, course materials, and childcare.

The following may be helpful resources as you look at applying for financial aid:

  • Student Aid on the Web – http://www.studentaid.ed.gov – Find detailed information on Federal Student Aid programs; research school and career choices; learn about the entire federal student aid process, eligibility, and the application process; and access other Federal Student Aid websites and publications online.
  • FAFSA on the Web – http://ww.fafsa.gov – Apply for the federal student aid online using FAFSA on the Web (the online version of the Free Application for Federal Student Aid, or FAFSA).
  • Military – http://www.studentaid.ed.gov/military – If you are in the armed forces or have a family member in the service, visit this site to find out more about grants, repayment, and forgiveness options.
  • National Student Loans Data System (NSLDS) – http://www.nslds.ed.gov – Use your FSA ID, to access all your federal student loan records and obtain contact information on your loan servicer.
Official Cohort Default Rates
A Cohort Default Rate is the percentage of a school’s borrowers who enter repayment on certain Federal Family Educational Loan (FFEL) Program or William D. Ford Federal Loan (Direct Loan) Program loans during a particular federal fiscal year (October 1 to September 30), and default or meet other specified conditions prior to the end of the second following fiscal year.

The United States Department of Education (ED) releases official cohort default rates once per year. This information is publicly available following this link: https://www2.ed.gov/offices/OSFAP/defaultmanagement/cdr.html

Pursuant to the University’s commitment to student success, the Financial Aid Office closely monitors the student’s satisfactory academic progress, and the cohort default rates as provided by the ED.

The University’s official cohort default rate for 2016 was 0.7. The official cohort default rates for the years 2014, 2015 and 2016 is summarized below:

FY2017 FY2016 FY2015
Default Rate 0.7 0.7 0
No. in Default 1 1 0
No. in Repay 126 126 117
Enrollment Figures 649 694 532
Percentage Calculation 19.40 18.10 21.90

The information below addresses students’ frequently asked questions regarding disbursements. Questions regarding Federal Financial Aid disbursements may be directed to the Financial Aid Office at [email protected] or 801.734.6788.

Disbursement is the process of turning your Financial Aid offer into an actual payment to the University. You must meet all eligibility requirements in order for the Financial Aid Office to request a disbursement of funds. If you owe current term debt to RMUoHP, all Financial Aid funds will be applied to that debt first and any remaining balance will be issued to you.
Financial Aid disbursement dates may vary for each student and can be delayed for different reasons. Your Financial Aid is awarded and disbursed by term—Winter, Summer, Fall—and is disbursed after a term begins. Students will receive an email from the Finance Office when their disbursement has arrived to the University. If the student is going to receive a refund, the email will contain the date the funds will be deposited into the requested account and the amount of the refund.
Federal Student Loans carry up-front administrative charges from the Department of Education (origination fees). These charges are deducted from your award pre-disbursement.
If your Financial Aid award exceeds the total charges for tuition and fees, you will be issued a Disbursement Refund within 14 days of the date that the funds arrive at the University. Direct Deposit is the only method used to issue a Disbursement Refund. We must have a signed Direct Deposit Authorization Form on file to process your refund.
Refunds will only be processed using Direct Deposit. The email notification from the finance office will specify what date the refund will be processed, but it is usually within 5 business days. If you do not receive the refund in your account, you can contact the Finance Office at 801.375.5125 Option 5.

Financial Aid Team

The Financial Aid Office at RMUoHP strives to provide the highest quality service to graduate and professional students in pursuit of their academic goals. We serve as the primary advocate for students and families, assisting them in securing necessary financial resources. We will utilize our expert knowledge to update our technologies, streamline processes, maintain full compliance with Federal mandates, and effectively manage financial aid resources. We are committed to providing exemplary service to our students, families the University community and the community at large. Our philosophy is service.

Maria SagerFinancial Aid Director
Alex JacksonFinancial Aid Services Manager
(Last Name A-K)
Krista McEntireFinancial Aid Advisor
(Last Name: L – Z)
Joe ColfleshScholarships / VA Benefits / SCO
Josefina SechtemRegulatory Affairs Specialist

To speak to an FAO team member please call (801) 375-5125, option 2.

Financial Aid is intended to help with your education-related expenses. It is not intended to meet the total cost of your living expenses, but is designed to supplement them.

Private/Alternative Student Loans

Alternative student loans are privately funded loans that are NOT part of the federal student loan program. They are offered by banks, credit unions, and other lending institutions, and are designed to supplement federal financial aid awarded to students when it does not fully meet the funding needs of students. Each private loan lender determines the interest rates, fees, and eligibility criteria for the loans they offer, and many lenders also require a co-signer. All private loans require a credit check to be performed to determine eligibility.

We encourage students to borrow these loans only as a last resort after exhausting all federal financial aid and scholarship resources. Rocky Mountain University of Health Professions does not endorse any lenders, and you may choose whichever lender you wish.

FastChoice Private Lender
FASTChoice – Loan Comparison Tool, compare offers from:
✓ College Ave
✓ Mountain America Credit Union
✓ Sallie Mae

Student Exit Counseling

Students who have borrowed Federal Stafford or Federal Graduate PLUS Loans are required to complete Exit Counseling prior to graduating or withdrawing. Also, if you drop below half-time, you must complete Exit Counseling.

Federal Stafford and/or Federal Graduate PLUS Loan borrowers:

  1. Click here to begin Exit Counseling if you borrowed Federal Stafford and/or Federal Graduate PLUS funds while at RMUoHP. One exit counseling session will satisfy the requirements for both of these loan types. Note: Federal Stafford and Federal Graduate PLUS Loan borrowers must complete their Exit Counseling online through NSLDS (National Student Loan Data System).
  2. Once on the website, click the “Start” button and follow the instructions. Be sure to select the RMUoHP’s school code. Once finished, you will be required to complete biographical information that will be transmitted electronically to the school and your loan guarantor or loan servicer. Be sure to print the confirmation page you will receive at the end of the online counseling.
  3. You must complete this counseling within 30 days from receiving email notification. You will need your FSA ID to log into NSLDS. If you have lost or forgotten your FSA ID, you may apply for another at https://fsaid.ed.gov/npas/index.htm

Disclaimer: Nothing on this website should be construed as authoritative financial advice. Your circumstances are unique and you may want to consult a financial advisor. The author of this website is not a financial advisor.