Roosevelt University is committed to providing financial assistance to eligible undergraduate students to help pay the costs associated with attending college. Although funding higher education is primarily the responsibility of the student and his/her family, more than 85 percent of Roosevelt students receive financial aid to assist them in covering their costs.
Students wishing to be considered for federal, state, and institutional financial aid programs noted below must complete the RU financial aid application process and meet the minimum requirements for financial aid eligibility. To be eligible for almost all financial aid programs (including loans) students must be enrolled at least half-time, 6 credit hours per semester.
More detail about the options for financial aid, including some typical amounts awarded, can be found on the Financial Aid web pages.
Federal Pell Grant
This is a federal assistance program for regular degree-seeking undergraduate students pursuing their first bachelor’s degree.
Federal Supplemental Educational Opportunity Grant Program
The Supplemental Grant is a federal program designed for any regular degree-seeking undergraduate who demonstrates exceptional need. FSEOG funds are awarded only to Pell Grant recipients and are very limited.
Illinois Financial Aid Programs
The State of Illinois has many programs and services that deliver financial aid to students in Illinois. The number of scholarships and grants made through programs administered by the Illinois Student Assistance Commission, as well as individual amounts awarded, are subject to sufficient annual appropriations by the Illinois General Assembly and the governor.
Illinois Monetary Award Program
This is a need-based grant program offered to undergraduate Illinois residents pursuing their first bachelor’s degree.
Federal Work-Study Program
This is a federally supported program for students who have documented financial need. The Work-Study Program’s objective is to provide employment opportunities for eligible students to help meet educational costs.
Federal Teacher Education Assistance for College and Higher Education (TEACH) Grant
The TEACH Grant Program provides grants of up to $4,000 a year to students who are completing or plan to complete course work needed to begin a career in teaching. Details are available on the Financial Aid web pages.
Roosevelt University academic and need-based awards
Newly admitted full-time students are automatically evaluated for academic awards through the Office of Admission.
Veteran Educational Benefits
Roosevelt University participates in these Veterans Educational Benefit programs: the G.I. Bill, Yellow Ribbon, and the Vocational Rehabilitation Program.
Student loans are an option for many students and families.
Many loans will allow students to defer payment, both interest, and principle, while enrolled at least half-time. Unlike grants and scholarships, student loans must be repaid. More detail on loan programs is available on the Financial Aid web site.
Federal Return of Title IV Refund Policy
The Federal Refund Policy is applicable to any students that receive federal financial aid funds who withdraw or stop attending completely on or before 60 percent of the time has elapsed during the period of enrollment for which the student has been charged. A calculation would be performed to determine the amount of unearned aid that must be returned to Title IV programs.
To determine the amount of Title IV aid for which the student is eligible, Roosevelt will use the student’s withdrawal date, the amount of aid the student was originally offered, the number of days that comprise the payment period and the number of days the student completed in the payment period.
In any term that you receive all failing grades (grade of "F"), you will be asked to verify your attendance. If all of your instructors indicate that you never attended the classes in which you received failing grades - your financial aid will be cancelled and returned to the appropriate source of that aid (if you received a financial aid refund for that term - you will owe the university the full balance of that refund and will not be able to attend in subsequent terms until that balance is paid in full). In any term which you received all failing grades and all of your instructors indicate that you stopped attending classes prior to 61% of the term's completion, a Title IV Returns calculation will be performed to determine the amount of financial aid that needs to be returned to the federal, state, or other sources from which they were received. This too could result in you owing a balance to the university.
The calculation will be performed using the number of days completed, divided by the number of days comprising the payment period to determine the percentage earned. The percentage earned, subtracted from 100 percent, will be the percentage of unearned aid that must be returned to the Title IV program.
The amount of unearned aid will be returned to the Title IV programs in the following order:
- Direct Unsubsidized Loan
- Direct Subsidized Loan
- Direct PLUS or Grad Plus Loan
- Federal Pell Grant
- Federal SEOG
- Other Title IV Funds
As a result of returning unearned aid, students may owe a balance due to Roosevelt University. Withdrawing from classes not only results in adjustment of current aid but may also affect a student’s eligibility for future aid.
Satisfactory Academic Progress Policy
One of the conditions to maintain eligibility for financial aid (federal, state, and institutional scholarships, grants, loans, and work) is to meet the requirements of Satisfactory Academic Progress as defined by the federal government. This assessment of your academic record measures your progress towards earning a degree. It is calculated differently from your academic standing (see your Academic Advisor for how your academic standing is calculated).
Components to the Satisfactory Academic Progress Policy
- You must complete 67% of all of the Roosevelt University hours you register for/attempt towards your degree, earning grades of "A", "B", "C", "D", and "P" (completion ratio). Grades of "F", "IP", "I", and "W" do not count. Repeated courses count towards hours attempted and count in passed hours when a passing grade is received. You may receive aid for only ONE repeat of a previously passed class. Remedial and ELP courses are counted in hours attempted and counted in hours passed when a passing grade is received.
- You must maintain an overall cumulative Roosevelt grade point average of 2.0 or higher. Remedial and ELP courses are included in the grade point average calculation. When repeating a class, the highest grade is used in calculating your grade point average.
- All periods of enrollment are included in these calculations whether or not you received financial aid during those periods. Transfer credits are included in the maximum time-frame calculation.
Your progress will be assessed at the end of each term.
Financial Aid Warning:
You will be placed on financial aid warning in your next term of enrollment if you do not meet component #1 and/or component #2 above. You will be notified of this status via your Roosevelt email address. You can only receive aid for one semester under this warning status. Financial aid warning lasts until the next time your progress is assessed (at the end of the next term). You will continue to be eligible for financial aid while on financial aid warning.
Financial Aid Termination:
Eligibility for future financial aid will be ended if your cumulative record does not reflect a minimum 67% completion ratio and a minimum cumulative 2.0 Roosevelt grade point average the first time your record is assessed after your financial aid warning term. Eligibility for future aid will also be ended if you fail to meet the terms of your Satisfactory Academic Progress Academic Plan and/or earn zero hours during any given term of enrollment (a term of all grades of “W”, “F”, “I”, or “IP” or any combination of these grades).
In any term that you receive all failing grades (grade of "F") you will be asked to verify your attendance. If all of your instructors indicate that you never attended the classes in which you received failing grades - your financial aid will be cancelled and returned to the appropriate source of that aid (if you received a financial aid refund for that term - you will owe the university the full balance of that refund and will not be able to attend in subsequent terms until that balance is paid in full). In any term which you received all failing grades and all of your instructors indicate that you stopped attending classes prior to 61% of the term's completion, a Title IV Returns calculation will be performed to determine the amount of financial aid that needs to be returned to the federal, state, or other sources from which they were received. This too could result in you owing a balance to the university.
Note: Even though you have been terminated for financial aid by federal policy, as long as you remain in good academic standing with the university, you may still be eligible to continue to attend Roosevelt at your own expense. You may also attend another college or university while trying to bring your record back into compliance with the Satisfactory Academic Progress standards.
Maximum Time Frame:
Financial aid eligibility ends when you have attempted 180 total semester credit hours as an undergraduate student (155 for the Bachelor of Professional or General Studies) and 54 as a graduate student whether or not you have been on financial aid warning. The maximum time-frame to receive financial aid is 150% of the total hours required to earn the degree in which you are enrolled. Hours that are transferred in and accepted towards your degree count towards this calculation.
If you earn 0 hours in any given term in which you are enrolled, financial aid eligibility ends immediately whether or not you have been on financial aid warning.
Changing Majors/Second Majors:
Students who have lost their financial aid eligibility due to any of the SAP components noted above and have changed majors may be considered for financial aid by completing the SAP Appeal Form. Students who have lost financial aid eligibility, due to exceeding the maximum time-frame limit noted above, and have changed majors or returned to seek another degree may also be considered for financial aid eligibility by completing a SAP Appeal Form.
Financial Aid Reinstatement:
Financial aid eligibility will be reinstated once an assessment of your academic record confirms it to be in compliance with the Satisfactory Academic Progress Policy (cumulative GPA of 2.0 or higher AND a completion ratio of at least 67% of hours attempted). You may also request a review of your eligibility prior to the next assessment date by contacting the Office of Financial Services. Your request will be reviewed within five (5) business days.
Right to Appeal:
If your eligibility for financial aid has been terminated you may appeal to the Office of Financial Aid Services for consideration for a Financial Aid Probation period based upon extenuating circumstances. These circumstances include, but are not limited to, illness or injury that you may have suffered, death of a relative, or other circumstances that result in undue hardship that can be documented by a third-party professional such as a healthcare provider, counselor, cleric, lawyer, etc. It must be shown that there is a reasonable and established plan to prevent failing to meet the Components of the Satisfactory Academic Progress Policy again. A ‘complete appeal’ is one that is written well and submitted with all relevant documentation. Incomplete appeals (appeals without supporting documentation) will not be reviewed nor responded to. There is a Satisfactory Academic Progress Appeal Form available to help facilitate the appeal process.
Complete appeals will be evaluated based upon the following criterion:
- Documented evidence to support extenuating circumstances that contributed to the inability to meet one or more of the Components of the Satisfactory Academic Progress Policy.
- Clear and reasonable evidence to support the existence of a plan in place to avoid failing to meet one or more of the Components of the Satisfactory Academic Progress Policy in the future.
- If the appeal is to receive financial aid for hours beyond the Maximum Time Frame, an academic advisor must perform a degree check and include the results and the exact listing of all remaining courses needed to complete the degree with the appeal documentation.
- A quantitative assessment of the ability to bring both Components of the Satisfactory Academic Progress Policy back into compliance by the end of an approved Satisfactory Academic Progress Plan.
Satisfactory Academic Progress Plan:
If your complete appeal is approved and you are allowed to receive financial aid during a Financial Aid Probation period, it will be contingent upon you complying with a Satisfactory Academic Progress Plan. The plan will specify the exact number of hours that must be completed as well, as the exact grade point average that will be necessary, over the Financial Aid Probation period to bring your record back into compliance with the Components of the Satisfactory Academic Progress Policy. Failure to meet the standards established in the Satisfactory Academic Progress Plan will result in the loss of future financial aid eligibility. Your request will be reviewed within five (5) business days.
Financial Aid Grievance:
If you feel that your appeal was not handled properly, you may file a grievance with the Director of Financial Aid Services. You should include all relevant documentation and a written statement of the facts of the case as you see them. Response to your grievance will be reviewed within five (5) business days. The decision of the Director of Financial Aid Services is final.