Sources of Financial Aid

There are a variety of sources and types of financial aid available to assist students with their health profession education expenses. These include four basic types of aid: loans, scholarships, federal work-study, and veterans benefits.

Loans

Loans must be repaid, usually with interest, and over a specified period of time (5-30 years) after graduation. Many loans for graduate/professional school are from federal sources; additionally, private loans are available to help. 

All loans are subject to final approval by your lender based on criteria set forth by federal regulations and lender policies. The specific details of these programs may change at any time due to government legislation and regulation or lender/institutional policy.

Federal Student Loans

There are two types of federal student loans that graduate/professional students are eligible for: Federal Direct Unsubsidized Stafford and Federal Direct Graduate PLUS. To be eligible for federal loans, you must...

• be a U.S. citizen or an eligible noncitizen;

• have a valid Social Security number;

• be enrolled or accepted for enrollment as a regular student in an eligible degree or certificate program;

• be enrolled at least half-time to be eligible for Direct Loan Program funds;

• maintain satisfactory academic progress in college or career school;

• Sign the certification statement on the Free Application for Federal Student Aid (FAFSA®) stating that

  • You are not in default on a federal student loan and do not owe money on a federal student grant and

  • You will use federal student aid only for educational purposes

Private Student Loans

Private loans are non-federal student loans offered by banks, credit unions, and other lenders. These loans may help cover educational expenses that are not fully met by federal, state, or institutional aid. We encourage you to compare lenders carefully and explore all federal student aid options first before borrowing private loans.

Rosalind Franklin University of Medicine and Science has partnered with ELMSelect to offer a tool to assist students. ELMSelect Private Loan Lender Comparison is a tool that allows you to select a loan product that best fits your needs. The ELMSelect Private Loan Lender Comparison tool includes various filter options to help in your review. New lender loan products may be reviewed annually for student borrower benefits. The information provided here is maintained and updated in real-time by the represented lender. You do not have to borrow from any of these lenders. You have the right to choose any lender.

Scholarships

Scholarships are aid sources that do not require repayment. Some scholarships are merit-based, and some are need-based. Scholarships can be awarded through the admissions process, specific departments, and externally.  Check out the External Scholarships page on the Student Financial Services website

Federal Work-Study

Federal Work-Study (FWS) provides part-time jobs for students with financial need, allowing them to earn money to help pay education expenses. Federal Work-Study is money that you earn and will not have to pay back. Since FWS is need-based aid, all students interested in FWS must file a FAFSA each year to demonstrate financial need eligibility. All FWS awards will be included as part of the student's financial aid package and will count as a resource toward the overall cost of attendance budget.

Veterans Education Benefits

At RFU, we are committed to serving veterans who have served us and our country.  Our staff and faculty are ready to help you, your spouse, or your dependents as you navigate your Veterans Education Benefits while enrolled at RFU. Visit the Eligibility and Applying for Veterans Benefits page to find out more about our offerings and resources.