Q: Why am I being asked to provide an IRS Tax Return Transcript to your office? I entered my tax information on my FAFSA already. Isn't that enough?
A: One of three things is causing us to ask you for a Tax Return Transcript from the IRS:
(1) You have used estimated information on your FAFSA for your tax figures because you indicated that you had not yet filed a return when you completed the document;
(2) Your application was selected for verification, in which case we are required to confirm the amounts you listed on your FAFSA; or
(3) Some of the information you provided on your FAFSA doesn't match the amounts you've listed on other aid documents you submitted (such as the Institutional Aid Application or Parent Information Form).
In all cases, Rush requires final tax information in order to make a final award determination. You have the option of requesting a copy of your Tax Return Transcript from the IRS, or using the IRS Data Retrieval Process via the FAFSA website to confirm your tax information.
Q: If my parents can't contribute to my educational expenses, can I still qualify for enough aid to attend Rush?
A: Graduate students are considered independent for the federal loan programs. Therefore, most graduate students do qualify for sufficient aid if they meet the criteria for the various aid programs. Graduate students should be aware that most assistance does come in the form of student loans, some of which may be credit-based. While Rush does ask for parent information for the purposes of discretionary assistance for many academic programs, we do not expect that your parents will contribute toward your costs for the year.
Dependent undergraduate students must provide parent data. Parent loans are available to the parents of these students. Since federal loan limits usually do not cover a student's costs entirely, a student may need a parent to borrow or cosign on a credit-based loan.
Q: Even though I am independent of my parents, do I still have to provide parental information to be considered for institutional grants and loans? Why?
Q: My parents are divorced and both are remarried. Which parent do I include on the financial aid applications?
A: Federal regulations state that the parental information should be on the parent that you lived with the most in the last 12 months. However, if you did not live with one parent more then the other, answer in terms of the parent that provided the most financial support in the last year or during the most recent calendar year that you were supported by a parent.
Q: My parent(s) have remarried. Does my stepparent information have to be included?
A: Stepparent information must be included, even if they weren't married in the previous year.
Q: When do I apply for financial aid?
A: The best time to apply is right after completion of tax returns. You will be using actual data instead of estimates, which will reduce the number of documents you will need to submit to our office in support of your application for assistance.
Q. If I don't hear about my acceptance until just prior to the start of the program, can I still apply for aid?
A: Yes. We suggest filing the FAFSA and other aid application documents before you hear a decision regarding your application for admission. If you include Rush's school code (009800) on the FAFSA, it will be processed and sent to us automatically. If you are accepted and your aid application is already complete, this will reduce the amount of time it will take us to generate an award notice for you.
Q: Will funds still be available to me if I am accepted late?
A: Yes. Federal Stafford Loans will still be available, as will other types of loans. While we cannot guarantee it, every effort will be made to provide late acceptances with the same type of financial package as individuals accepted earlier.
Q: When will I be notified of my financial aid package?
A: Financial aid packages are awarded on a rolling basis from late March forward. You will be notified if additional documents are needed.
Q: If I have a poor credit record, will I still be able to receive loans?
A: It depends. Federal Stafford and Perkins Loans are not based on credit; however, if you are in default on any federal loans, you will be unable to receive any additional federal loans. Some loan programs do require credit checks, so you may be denied access to these types of funds. Please review the credit history section of this site for additional information.
Q: Will a scholarship from a private source affect my aid from Rush?
A: Scholarships and grants from outside sources will be used to reduce any loans awarded to you by Rush University. Grants from Rush probably will not be impacted.
Q: What is the deadline for accepting the financial aid offered to me?
A: Grants and scholarships are accepted on your behalf. There really isn't a deadline by which you need to accept loans offered to you. Please note, however, that you should plan to accept your aid and finish up all required loan documents within about 30 days of the start of your academic year so that your funds are able to be applied on time. Bills are due by the first Friday of each term and your tuition account will be eligible for a late fee if your aid pays in after that date.