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Getting Started University Costs Forms Grants and Loans Aid Award Stafford Loan Loan Repayment Contact Us Financial Aid Home |
The cost of education you calculated previously reflects the estimated cost for an academic year. After acceptance and completion of the application process, an award letter reflecting the cost of attendance, the contribution calculated/offered from you (and your family), and the amount of financial aid awarded to you. The calculated contribution from you (and your family) plus the awarded financial aid will equal the listed cost of education since Rush intends to award sufficient aid through a combination of loan, grant and employment to meet the full amount of calculated need. Therefore, it is your responsibility to budget all resources so that your average monthly expenses do not exceed the budgeted living allowance for the academic year. The form below can be used to estimate how you can budget your expenses using the applicable living allowances above.
If your expenses exceed your monthly income from aid and other sources, you must seriously examine your expenses to identify how you will remain within your budget. You must be able to meet all of your expenses, including credit card payments, with the funds available to you. If you have high credit card payments contact the financial aid office immediately to discuss options and the appropriate course of action. Special note for all university programs Some loan programs may require a credit check, and you may be awarded a credit-based loan as part of your award package. If you have large outstanding credit card balances or a poor history of repayment, you may be denied access to private loan (non-federal) programs. Rush University is unable to fund students who, because of a poor credit record (i.e., bankruptcy, default), are unable to receive loan assistance through federally supported or private loan sources. You must take necessary steps now to improve a poor credit rating so that aid will be approved. Medical students must complete the Credit Policy Statement. If you are currently experiencing difficulty with making all of your required payments, the Consumer Credit Counseling Service could probably help you. It is located in major cities around the country and provides counseling services (on a sliding scale based on income, but it is usually free for students) by working with your creditors to make reasonable monthly payments based on income. Call (888) 527-DEBT for locations and additional information. www.cccsgrchicago.org |
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