Financial Aid Tips

• Find out all you can about available loan programs early. Don't wait until you discover you do not qualify for scholarship money before you consider a loan. It may be too late, or you may be forced to accept a loan you are not happy with.
   
• File your FAFSA before March 1, 2008 for 2008-2009.  Students completing applications after March 1, 2008 will be applying for any remaining financial aid funds available (typically Pell and Stafford Loans).  Be accurate and complete when filing your FAFSA.  Allow 4 -8 weeks for financial aid application processing. Check the RU Financial Aid Timeline.
   
• Make sure that all required signatures are on the FAFSA before mailing.  If you are completing the web version, make sure that you write down your confirmation number, and print the Signature Sheet.  Obtain all signatures required on the Signature Sheet.  Mail the Signature Sheet to the FAFSA processor given on the website.  Independent students that have a pin number may use the pin number as their signature.
   
• Print or type all information on your application clearly and legible and make sure all requested information is supplied. Be especially careful to provide your signature wherever necessary.
   
• Keep copies of all tax documents submitted to the IRS.
   
• Review your Student Aid Report carefully.  Follow any instructions provided.
   
• If you are awarded financial aid, review your offer letter carefully and return it promptly.
   
• Provide all documents that are requested as soon as possible.  Remember that no financial aid can be authorized nor loans certified (sent to lenders) until the student's application is finalized.  Students may apply in March, but will not receive their monies until the review of their financial aid application is completed.  Families should allow 6 - 8 weeks for review of documents that they submit. Review does not begin until all items are received.  If all items are not received until August, the student will not receive funds until late September.
   
• Set up RU Direct to have any excess Federal Stafford Loan funds automatically deposited to your checking or savings account after RU charges are deducted.  The RU Direct Form will be included with your award notification.
   
• Notify the RU Financial Aid Office immediately of any scholarships, grants, stipends, fellowships, or other awards that you will be receiving, if it is not listed on your award letter.  Remember, that we may be required to make adjustments to the financial aid offered to you.  If you receive money from other sources at any time during the year, your awards may be reduced at that time.
   
• Use Student Information System  to check on your financial aid application.  You can find out if we have received your application.  You can also check the status of your application, review the awards that are offered to  you, and check to see if documents are needed to complete your application by using the Student Information System 
   
• You will receive a letter from the RU Financial Aid Office when your Federal Stafford Loan information has been transmitted to the Guarantor.  New Stafford Loan borrowers at RU will receive a Master Promissory Note to sign and return with their Award Letter.    Funds will not be disbursed until you return the Master Promissory Note.
   
• New Stafford Loan borrowers are required to complete an Entrance Interview.  This requirement can be completed from the RU Financial Aid website.  Students may also attend one of the group sessions offered during Quest or they may schedule an interview in the Financial Aid Office after the beginning of classes.  No funds will be disbursed until the student has completed the Entrance Interview.
   
• If you have special circumstances that affect your income (or your parent's income) for the 2007 calendar year (such as loss of employment), send a letter to the RU Financial Aid Office explaining your family's circumstances.  A counselor will review your request and contact you regarding the outcome or request additional information needed to document your circumstances.  Special Circumstance requests filed after April will be reviewed as quickly as possible, but may take up to 12 weeks to review during the summer months.
   
• Reapply for Financial Aid every year.  Also, Summer requires a separate financial aid application.
   
• Do you have questions about financial aid at RU?  Visit the RU Financial Aid website as a resource for financial aid policies and procedures.  Some forms are downloadable from the website.