Definitions and Frequently Asked Questions

Credential Program: This represents an approved degree program. All of Rush University’s degree seeking programs are considered credential programs.

Graduate Program: Programs requiring at least a bachelor’s degree, for example master’s programs. All of Rush University’s graduate programs qualify as credential programs.

Professional Program: The Department of Education is expected to define which degree programs are considered professional programs. We anticipate that the Doctor of Medicine degree (MD) at Rush University will be considered a professional program. The MD program qualifies as a credential program.

New Borrower: Borrowers who are not enrolled in a credential program prior to July 1, 2026 nor borrowed loans. New borrowers starting in programs after July 1, 2026 are ineligible for the Graduate PLUS loans starting on July 1, 2026.

Legacy Borrower: Students who have borrowed Federal Direct Loan prior to July 1, 2026 while enrolled in a credentialed program at Rush University. Legacy borrowers can continue to borrow Graduate PLUS loans for up to an additional 3 years, or less if the expected time to credential is less.

Alternative Loans: Funding provided by different lenders that are not the Department of Education. This funding is generally credit based and may require a co-signer. Different lenders offer different incentives. Comparing lenders is highly encouraged. 

Aggregate Loan Limit: Maximum amount that can be borrowed for a lifetime. Aggregate limits can vary depending on whether the loans are from the federal student loan program or an alternative lender.

Annual Loan Limit: Maximum amount that can be borrowed per year.

Cost of Attendance: Tuition and fees, living allowance, health insurance, books, course materials, supplies and expenses. Living allowances are based on survey data from Rush University students and metropolitan-area data regarding cost of living expenses. 

Health Education Assistance Program (HEAL): Special increased unsubsidized loan limits for students enrolled in approved professional programs. This applies by law only to the Doctor of Medicine (MD) program. 

Student At Large: Individuals who have not formally matriculated to a Rush University degree or certificate program, but who wish to enroll in a course, may do so by completing the student-at-large application. Students at large are not eligible for federal, state or most institutional aid funding.

• Students who are eligible for and request federal student loans may be impacted.
• If you are a current or incoming student starting and have aid disbursed prior to July 1, 2026, you would be considered a legacy borrower. As a legacy borrower you may continue to borrow Grad PUS loans up to your cost of attendance.
• If you are a student starting after July 1, 2026, you are considered a new borrower. As a new borrower, you will be limited in your unsubsidized loans and may need to find alternative loan lenders.

Please refer to the college-specific information here and select the program group that best fits your enrollment.

Yes, completing a FAFSA will help Rush determine your eligibility for federal, state, and/or institutional sources of aid.

This will vary by student and your individual cost including tuition, health insurance, and personal financial needs such as housing and food.

The Department of Education is expected to define which degree programs are considered professional programs. We anticipate that the Doctor of Medicine degree (MD) at Rush University will be considered a professional program.

New borrowers have not enrolled in a credential program prior to July 1, 2026 nor borrowed loans. Legacy borrowers have borrowed Federal Direct Loans prior to July 1, 2026. More information is available in the Definitions section above.

Students are encouraged to review the program group that best fits their selected enrollment.

Loans will be pro-rated for students who are enrolled less than full time status each semester. Enrollment by program level varies and students are encouraged to be aware of the enrollment definitions in the Rush University catalog and consult with the Office of Student Financial Aid for additional guidance.

Yes, effective July 1, 2026 Graduate PLUS loans will no longer be available for new borrowers.

Students who withdraw and cease enrollment and anticipate a return to academic engagement after July 1, 2026 will be ineligible for Graduate PLUS loans when they return. Students will need to identify alternative funding to cover educational expenses that are not covered by Federal student loans. Students are encouraged to work closely with their academic program to identify if they are able to resume academic engagement before the July 1, 2026 cut-off date.

Students are encouraged to talk with the Office of Student Financial Aid to determine their status. This item is still pending final clarification from the Department of Education.

It depends. Students who do not have a strong credit history or current steady income may benefit from having a co-signer for alternative loans. The specific requirements will depend on the individual private lender’s requirements.

Pending clarification from the Department of Education to confirm if this will continue to be available.

If your program is not a professional program, even though it leads to a licensure, Rush cannot designate you as a professional student so that you can qualify for the higher loan amounts.

The Department of Education defines which programs can qualify as professional status. Only programs explicitly listed in the regulations are professional programs.

Based on the recent federal changes, borrowers would be considered as new borrowers if they start a new program after July 1, 2026, even if there is no gap between ending one program and starting a new program.

No, Rush does not have partnerships with alternative lenders. Private loan funding is not guaranteed.

This is dependent on the alternative lenders’ specific qualifications such as a credit score above a specific number, a certain debt-to-income ratio, or an eligible co-signer who meets the eligibility criteria. Eligibility requirements can vary from lender to lender. We encourage students to compare lenders to find the most advantageous lender for their needs.

Rush can offer suggestions and resources but cannot guarantee funding.

President Trump signed the Budget Reconciliation Bill into law on July 4, 2025, making significant changes to the federal student financial aid programs, endowment tax policy, and other areas of concern to private, nonprofit colleges and universities.

Yes, the higher education community is still anticipating additional guidance about a number of student aid changes.

Please reach out to the Student Financial Aid department for additional assistance at financial_aid@rush.edu.