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We subtract the expected family contribution and any other sources of financial aid, including Simon scholarships, tuition waivers and benefits, from our cost of attendance to determine your maximum loan eligibility.
The cost of attendance is comprised of our estimates of the direct costs you will pay to the University and the indirect educational costs that you will incur. Direct costs include tuition and mandatory fees, while indirect costs include estimates for rent, food, books, a personal allowance, and transportation between a local residence and campus. Items such as car payments, credit card payments, moving expenses, job search expenses, conferences, student club membership dues, or other non-educational expenses cannot be included in the cost of attendance per federal regulation.
The University of Rochester does provide housing for graduate students. Visit the Residential Life website for further details on these options. They also provide information on off-campus housing. Remember that the Financial Aid Office estimates what typical housing costs should be for graduate students.
It is calculated by taking an average of reasonable rent costs throughout the city of Rochester. Please note that if you choose to live in housing that is more than the average cost, you will not receive a larger loan amount. Budgeting will be an important factor in determining what your indirect costs will be while you are attending Rochester.
First time borrowers of a Federal Direct Loan at the University of Rochester must fulfill requirements for both an electronic master promissory note (eMPN) and an entrance counseling session. These requirements must be completed before loan proceeds can be credited to a student's account. The online entrance counseling session will inform borrowers of their rights and responsibilities. The eMPN is a formal contract between the student and the federal government. Students will be notified via email if they must complete these requirements and will be directed to their FAOnline account to begin the sessions. Returning students who have received federal loan funding at the University before are not required to complete these requirements again.
Once your financial aid eligibility has been determined, your loan information will be reflected on your University billing statement. Please note that if you do not complete your federal loan requirements in a timely manner, your financial aid will be cancelled from your bill and you will be responsible for the balance owed. Our office will send notifications prior to cancelling your aid.
If a student receives aid (including loans) in excess of the direct costs payable to the University of Rochester (direct costs include tuition and fees), the Bursar's Office will issue a credit balance refund. A refund is NOT available earlier than 10 days before the first day of classes each term. Orientation sessions are not considered the start of classes. Credit balance refunds are only available after financial aid funds have disbursed to a student account. Although financial aid resources can be used for living and textbook expenses, students should be prepared to cover their costs at the beginning of each term out of savings, until financial aid funds have been applied to the account. Our office strongly recommends that you bring money to campus with you to help pay for your rent, food, books, supplies, and personal expenses as financial aid is not always available to help with these items.
Please note: If you are not registered for the same number of credit hours that were used to determine your eligibility for aid, your funds will not disburse. Click here to report a change in your credit hours.
Your cost of attendance includes the direct costs that appear on your bill (tuition and fees) and the indirect costs that do not appear on your bill. If you feel that your cost of attendance does not reflect your circumstances correctly, it is recommended that you meet with your financial aid counselor to discuss your concerns and options. Appeals for increases to the cost of attendance are not guaranteed to be approved and are reviewed on a case-by-case basis. Remember that items such as car payments, credit card payments, moving expenses, job search expenses, conferences, student club membership dues, or other non-educational expenses cannot be included in the cost of attendance.
Our school submits enrollment information to the federal government in order to place federal loans on deferment. Students should contact any other loan servicers that they have borrowed with to receive information on how to defer those loans.
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