Students interested in applying for financial aid must complete the Free Application for Federal Student Aid (FAFSA) beginning October 1 annually. The FAFSA can be submitted by completing a paper FAFSA, FAFSA Renewal Application, or through the Internet by using FAFSA on the web (www. fafsa.ed.gov). Students must indicate University of Rio Grande’s federal school code (003116) on the FAFSA to ensure proper disclosure of the students’ FAFSA information to the Financial Aid Office.
Rio Grande has a priority filing deadline of March 15th. It is very important to apply as early as possible due to limited amounts of funding for certain federal financial aid. The Supplemental Educational Opportunity Grant (SEOG) and Federal Work Study are programs that are awarded on a first-come, first-serve basis to eligible students.
Awards are made on an annual basis and priority will be given to early applicants. Returning students should complete the FAFSA no later than March 15th of each year. Eligibility for federal, state, and institutional financial aid is determined from the results of the Free Application for Federal Student Aid (FAFSA). The FAFSA is used to determine the family’s ability to meet the student’s cost of education, which is used to determine financial need.
Notification of financial aid eligibility will be made to new students by an E-mailed or mailed Award Letter, and returning students via E-mail.
Any student that is interested in obtaining a Federal Stafford Loan or Federal Perkins Loan must also complete a Master Promissory Note (MPN). The MPN is a multi-year promissory note that remains active up to 10 years. This means that once a student completes the MPN, another MPN is not required for borrowing for 10 years. This process is designed to eliminate paperwork and simplify the process of applying for a Federal Student Loan. Students are asked to complete this process online by going to the federal loan website at (www.studentloans.gov).
Various alternative loan programs are available from private lenders to help students with educational expenses throughout the academic year. Most of these loans are credit based and may require a co-signer depending on credit history. A variety of alternative loan options are available in the Financial Aid Office and on the website (http://www.rio.edu/financial-aid). Please contact the Financial Aid Office (phone: 740.245.7218, e-mail: email@example.com) to apply for an alternative loan or if additional information is required.
Finalized financial aid will be disbursed to the student’s account after the drop/add period each term. Students must have completed and submitted all necessary paperwork required by the Financial Aid Office before financial aid will be credited to the student’s account. Balances owed after financial aid is applied to the student’s account are the responsibility of the student.