Federal Student Loans
Figure out if federal student loans are the right option for you. Discover your individualized financial aid plan.
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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.
Loan Types
Unsubsidized Federal Student Loans
Graduate PLUS Federal Student Loans
What is a Cost of Attendance (COA)?
Residential Programs (DPT, MPAS, Med-SLP programs)
Tuition– View tuition page*
University Resource Fee – $36/credit (max 15 credits per semester)
Books, Course Materials, Supplies, Equipment – $580+ (+individual course fees will be applied as needed each semester.)
Living Expenses (Housing & Food)– $10,480
Personal Expenses– $2992
Transportation – $3172
Residential Optometry Program
Tuition– View tuition page*
University Resource Fee – $36/credit
Books, Course Materials, Supplies, Equipment – Individual course fees will be applied as needed each semester
Living Expenses (Housing & Food)– $10,480
Personal Expenses– $2992
Transportation – $3172
Limited Residency (Course instruction is primarily online, except for required on-campus visits once per semester)
Tuition– View tuition page*
University Resource Fee – $36/credit
Books, Course Materials, Supplies, Equipment – $580+ (+individual course fees will be applied as needed each semester.)
Living Expenses (Housing & Food)– $10,480
Personal Expenses– $2992
Transportation – $1760
Online Only (Course instruction is online, no on-campus visit required)
Tuition– View tuition page*
University Resource Fee – $36/credit
Books, Course Materials, Supplies, Equipment – $580+ (+individual course fees will be applied as needed each semester.)
Living Expenses (Housing & Food)– $10,480
Personal Expenses– $2992
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
1. Complete a FAFSA.
a) 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)
b) 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) RMUoHP’s school code is: G41932
2. Complete Entrance Counseling.
a) This is done through the StudentLoans.gov site. You will need your FSA ID to log in.
3. Sign of a Master Promissory Note (MPN).
a) This is an agreement that you will repay the funds you borrow from ED.
b) This only needs to be done once during your enrollment (MPNs are valid for ten (10) years).
4. Submit a Federal District Student Loan Request form.
a) Only enrolled students can complete this step and you will receive the link to the form once the application cycle opens.
b) Students’ packages will not be processed until the Financial Aid Office has received a signed Federal Direct Loan Request form.
Grad PLUS Loans
1. Complete all the steps required for an Unsubsidized loan.
2. Complete a Grad PLUS Application.
a) This is done by going to the studentloans.gov website (click here). You will need your FSA ID to log in.
3. Sign a PLUS Master Promissory Note (MPN).
a) Yes, you will need this additional MPN if you choose to apply for a PLUS loan
4. Submit a Federal Direct Student Loan Request form.
a) Entry-Level students do not need to submit an additional form. The PLUS information is already listed.
b) 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
- Click here or the button below 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 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 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.
- 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.