Federal Student Loans
Figure out if federal student loans are the right option for you. Discover your individualized financial aid plan.
Serve | Advocate | Care
Federal Student Loan Types
Unsubsidized
Graduate PLUS
RMU 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 graduate programs at RMU are eligible for Federal Direct Student Loans.
*The following programs are NOT ELIGIBLE for these loan types:
- Emergency & Primary Care in Athletic Training Practice Certificate (EPCAT)
- Functional Nutrition Certificate (FNC)
- Health & Wellness Coaching Certificate (HWC)
- Healthcare Leadership and Administration Certificate (HLA)
- Healthcare Professions Education Certificate (HPE)
- Human & Sport Performance Certificate (HSPC)
- Post-Professional Occupational Therapy Certificates
- Psychiatry Certificate (for PA clinicians)
- Rehabilitation Science Certificate (RSC)
Loan Types
Unsubsidized Federal Student Loans
Graduate PLUS Federal Student Loans
What is a Cost of Attendance (COA)?
The cost of attendance (COA) is the cornerstone of establishing a student’s financial need, as it sets a limit on the total aid that a student may receive. The Financial Aid Department surveys enrolled students every two years, to ensure that the budget remains consistent with current costs of goods and services. Only tuition and fees are considered institutional charges. Students receiving more financial aid than the amount of their institutional charges will be sent a stipend to cover: books, course materials, supplies, equipment, living expenses (housing & food), personal expenses, and transportation (as applicable).
Residential Programs (DPT, MPAS, Med-SLP programs)
Tuition & University Resource Fee– View tuition page*
Books, Course Materials, Supplies, Equipment – $675+ (+individual course fees will be applied as needed each semester.)
Living Expenses (Housing & Food)– $11,148
Personal Expenses– $3,396
Transportation – $3,o44
Residential Optometry Program
Tuition & University Resource Fee– View tuition page*
Books, Course Materials, Supplies, Equipment – Individual course fees will be applied as needed each semester
Living Expenses (Housing & Food)– $11,148
Personal Expenses– $3,396
Transportation – $3,044
Limited Residency (Course instruction is primarily online, except for required on-campus visits once per semester)
Tuition & University Resource Fee– View tuition page*
Books, Course Materials, Supplies, Equipment – $675+ (+individual course fees will be applied as needed each semester.)
Living Expenses (Housing & Food)– $11,148
Personal Expenses– $3,396
Transportation – $0
Online Only (Course instruction is online, no on-campus visit required)
Tuition & University Resource Fee– View tuition page*
Books, Course Materials, Supplies, Equipment – $675+ (+individual course fees will be applied as needed each semester.)
Living Expenses (Housing & Food)– $11,148
Personal Expenses– $3,396
Transportation – $0
The following COA amounts are for award years 2022-2023 and 2023-2024
Residential Programs (DPT, MPAS, Med-SLP programs)
Tuition & University Resource Fee– View tuition page*
Books, Course Materials, Supplies, Equipment – $580+ (+individual course fees will be applied as needed each semester.)
Living Expenses (Housing & Food)– $10,480
Personal Expenses– $2,992
Transportation – $3,172
Residential Optometry Program
Tuition & University Resource Fee– View tuition page*
Books, Course Materials, Supplies, Equipment – Individual course fees will be applied as needed each semester
Living Expenses (Housing & Food)– $10,480
Personal Expenses– $2,992
Transportation – $3,172
Limited Residency (Course instruction is primarily online, except for required on-campus visits once per semester)
Tuition & University Resource Fee– View tuition page*
Books, Course Materials, Supplies, Equipment – $580+ (+individual course fees will be applied as needed each semester.)
Living Expenses (Housing & Food)– $10,480
Personal Expenses– $2,992
Transportation – $1,760
Online Only (Course instruction is online, no on-campus visit required)
Tuition & University Resource Fee– View tuition page*
Books, Course Materials, Supplies, Equipment – $580+ (+individual course fees will be applied as needed each semester.)
Living Expenses (Housing & Food)– $10,480
Personal Expenses– $2,992
Transportation – $0
*Continuing students whose tuition/fees are not posted to the website, refer to your Enrollment Agreement for a tuition/fee outline or contact the Student Bursar in the Finance Office (finance@rm.edu)
What is a COA appeal?
Talk to Your Financial Aid Advisor
Federal Loans Eligibility
- U.S. citizen or permanent resident
- Be enrolled full-time in an approved program
- Maintain Satisfactory Academic Progress (SAP)
- Current on all loan payments
Student Loan Application Process
Unsubsidized Loans
- Complete a FAFSA
- If you are beginning classes before June 30, 2023 you will need a 2022-2023 FAFSA on file (you will need your 2020 tax information)
- If you are beginning classes after July 1, 2023 you will need a 2023-2024 FAFSA on file (you will need your 2021 tax information)
- c) RMU’s school code is: G41932
- Complete Entrance Counseling
- This is done through the StudentLoans.gov site. You will need your FSA ID to log in.
- Sign of a Master Promissory Note (MPN)
- This is an agreement that you will repay the funds you borrow from ED.
- This only needs to be done once during your enrollment (MPNs are valid for ten (10) years).
- Submit a Federal District Student Loan Request form
- Only enrolled students can complete this step, and you will receive the link to the form once the application cycle opens.
- Students’ packages will not be processed until the Financial Aid Office has received a signed Federal Direct Loan Request form.
Grad PLUS Loans
- Complete a Grad PLUS Application.
- This is done by going to the studentloans.gov website (click here). You will need your FSA ID to log in.
- Sign a PLUS Master Promissory Note (MPN).
- Yes, you will need this additional MPN if you choose to apply for a PLUS loan
- Submit a Federal Direct Student Loan Request form.
- Entry-Level students do not need to submit an additional form. The PLUS information is already listed.
- Post-Professional students can receive the link to the Grad PLUS Federal Direct Student Loan Request form from their financial aid advisor.
Loan Disbursement FAQ
What does disbursement mean?
When will my financial aid be disbursed?
Why is my disbursement amount different than the amount on my award letter?
When can I expect my stipend?
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. Students that drop below half-time must also complete exit counseling.
Federal Stafford and/or Federal Graduate PLUS Loan borrowers:
- Click here or the button below to begin exit counseling if you borrowed Federal Stafford and/or Federal Graduate PLUS funds while at RMU. One exit counseling session will satisfy the requirements for both loan types. Note: Federal Stafford and Federal Graduate PLUS Loan borrowers must complete their Exit Counseling online through the Federal Student Aid (FSA) website.
- Once on the website, click the “Log In To Start” button next to “I am a Graduate or Professional Student” and follow the instructions. Be sure to select RMU’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.
- You must complete this counseling within 30 days from receiving email notification. You will need your FSA ID to log in. If you have lost or forgotten your FSA ID, you may apply for another by clicking here.
Student Loan Repayment
We can help you understand student loan repayment including:
- When repayment starts
- How to determine who your loan servicer (lender) is
- Repayment options
- Options if you have trouble making your payments
- Understanding deferments and forbearances
- How and why to avoid loan default
- Loan consolidation
Important Information
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.