Federal regulations limit the types of financial assistance available to international students. International students should be prepared to finance either privately or through a sponsor the full cost of their RFUMS education. The International Student Certificate of Finances must be submitted at the time of application for admission illustrating and documenting sufficient financial support to meet the projected total cost of attending RFUMS.

Calculating Cost of Attendance 

The budgeted cost of attendance is a calculation of total cost that is used to determine a student’s level of financial need. It is a total of tuition, mandatory fees, books, and monthly living expenses. Current financial aid student budgets are available under Financial Aid Cost of Attendance.

Other specific costs to consider:

• Transportation related expenses such as car insurance, gas, maintenance purchase of vehicle, and registration
• Computer and required software
• Licensure exams
• Residency interviews and application expenses
• Moving costs
• Health insurance
• Travel expenses from and to home

Sources of Financial Aid

Aid from Your Home Country

Your own government may have financial aid available. (Usually this support requires that you return home after your education is complete.) There may also be private organizations in your home country that provide support for study in the US. Businesses, foundations, and religious groups might have funds available.

Scholarships

There are private agencies and organizations which provide scholarship assistance to international graduate students. The eligibility criteria and deadlines vary according to the guidelines established by the organization. These scholarships can be merit based and/or need based. Avoid scholarship scams where they charge a fee to apply. Scholarship searches should be free.

Private Loans 

A limited number of outside lenders offer students private loans with an approved U.S. citizen or permanent resident cosigner for financing their education. The terms of private loans are set by the individual lenders. The interest rate and fees are determined by your credit history, your debt-to-income ratio and that of your co-signer. The interest rates for private educational loans are variable and are most often based on a range using Prime or the London Interbank Offered Rates (LIBOR) as a base and add an additional percentage based on the borrower's credit. The current Prime and LIBOR rates are available at the Federal Reserve Statistical Release. Students are encouraged to investigate these options thoroughly. The maximum loan amount your financial aid office can certify is the cost of attendance minus any other aid received.

Selecting a Lender

Compare the following aspects of lender services when deciding which lender to choose:

• Interest rates, fees and terms: How is your interest rate calculated? Can I get a better interest rate by applying with a co-signer? Are there any additional fees for this loan? What are the terms of the loan? View the current interest rates. 
• Co-signor Release: How many months of on-time payments must be made before any co-signor will be released from the loan? 
• Capitalization: What is the lender’s capitalization policy? 
• Repaying your loan: How soon do I have to start repaying the loan after graduation? Does the lender offer deferment or forbearance options while I’m in residency? 
• Early payment: Are there any penalties for paying off the loan early?
• Repayment plans: What repayment plans and options are available?
• Repayment incentives: What incentives does the lender offer for borrowers who pay on time or make loan payments electronically?

Below you will find as a link to each lender's Website.

Lender	Phone Number
Charter One/Citizens*	888-411-0266
Discover Student Loans**	877-728-3030
Sallie Mae	877-279-7172
Wells Fargo	800-378-5526
iHelp	800-645-7404
*requires paper application for consideration ** requires a social security number

 If you have any questions regarding these loans beyond the information provided on the links above, please contact the lender for more information.

Co-Signer Information

The major requirements of a cosigner for a private student loan are that they have solid credit themselves. The main purpose of a student loan cosigner is to back up the loan’s repayment if the student cannot. Having an established and strong credit history is an absolute must for a cosigner.

Select a cosigner who has demonstrated

• Ability to pay. When a lender evaluates cosigners, they look at their ability to pay which includes comparing the cosigner's total debt to their total income and the amount of student loans they already have.
• Stability. Lenders look at how long the cosigners have lived at their current address, whether they have a stable job, and whether they have an established credit history.
• Willingness to pay. Lenders consider the cosigners' credit scores and their payment history on other types of credit, including credit cards, mortgages, and automobile loans.

Cosigner release

Many of the loan programs have a cosigner release where after certain stipulations are met the student can become responsible for the loan in its entirety. Typically stipulations include consecutive monthly payments, and the student must be a U.S. citizen or permanent resident at the time the cosigner release is processed.

Online International Resources

• https://www.internationalscholarships.com
• https://www.iefa.org/
• http://www.nafsa.org/
• http://www.edupass.org/
• http://www.aauw.org/
• http://www.fastweb.com/
• http://www.nsf.gov/

Points of Contact

Registrar Office	847-578-3229
Student Financial Services – Maryann DeCaire	847-578-8810
Student Sponsored Health Insurance	847-578-3217
Multicultural Student Services	847-578-8354
Student Housing	847-578-8350
Admissions Office	847-578-3204

RFU Payment Plan Option

International students may enroll in an optional monthly payment plan. Students enrolled in the payment plan will be emailed a payment plan statement of scheduled payment due dates by the Office of Student Financial Services. Students must review their RFU account statements to ensure the budgeted payment plan amounts are sufficient to cover their balances with the University. Students are required to pay any outstanding balances above the budgeted payment plan amounts directly to the University by the payment plan due date.

To inquire about this option please contact:

Kevin Suddick
847-578-8639
kevin.suddick@rosalindfranklin.edu

Payments Made Using Wire Transfer

Flywire is dedicated to delivering the best global payments solution for our international students. Nominated for the 2016 Most Invisible Innovation, Flywire has been recognized for their behind-the-scenes work making international education payments simple, streamlined and safe. For more information or to make your payment, go to Flywire to make your payment and learn more. 

Student Payment Policy

Students are required to pay each term’s financial obligation to the University (including tuition, fees, insurance, and housing charges) 6 business days before the start of the term. Billing statements can now be viewed on online approximately three weeks prior to the term start date. Billing statements will include charges and anticipated financial assistance as of the statement date. Keep in mind a statement is a snapshot of a student account on the day it was generated. Please access Self-Service to view the most up-to-date account information. 

Late Fees and Penalties 

Students that fail to pay in full by the first day of a new term will be assessed a late fee tiered according to their outstanding balance. Please refer to the RFU student payment plan for more information. It is the student’s responsibility to contact a student account representative in the Office of Student Accounts to resolve billing questions, discrepancies or to obtain current account status. Because of potential delays in U.S. mail, we encourage all students to pay electronically through FlyWire or if using an e-check or credit card, Self-Service. Payments made on WebAdvisor are updated and reflected immediately. Payments made by credit card are assessed a 2.5% transaction fee. 

At the beginning of each month any unpaid balance will also be assessed a late penalty fee. In addition, a registration hold will be placed on a student’s account until the balance is paid in full. Interest fees will be assessed every 30 days on past due accounts. Students whose accounts are not pay in full by the term end date will be unable to register for the next term. A letter will be sent to the department head and the director of Diversity and Inclusion advising them of your inability to register due to the hold status.

All students are responsible for all charges incurred for the terms in attendance. Any student who withdraws from the University or a course must withdraw in accordance with the policies and procedures set forth by the University. Charges will be adjusted and any balance due must be paid before leaving the University. Any student who leaves the University with their account not paid in full will be referred to an outside collection agency for possible legal action. The student is liable for the outstanding balance and collections costs. 

Payment Due Dates

Tuition Due Dates

 Financial Planning Worksheet 

Expense	Estimated Cost
Application and Test Fees	$
Tuition and Fees	$
Books	$
Travel to US	$
Room and Board	$
Expenses when school is closed	$
Clothing	$
Personal expenses	$
Health insurance	$
Summer study or travel	$
Additional family members	$
Other	$
TOTAL FOR ONE YEAR	$
Multiply the total by the number of years in your program (___)	$

Student Health Insurance 

Rosalind Franklin University of Medicine and Science has a “hard waiver” policy. This policy requires all full time students to have health insurance. If you do not have health insurance, you will be enrolled in the University’s student health insurance plan. Health insurance premiums will be charged to your student account.

Students may waive coverage by providing proof of enrollment in another health insurance plan within 10 business days of the first term of enrollment. Waiver forms are submitted on-line and must be approved as meeting the universities’ requirements of a comprehensive plan. 

Requirements include:

• Plan provides routine, non-emergency care, in addition to emergency care, in the Chicago area*
• Plan must meet “essential health benefits” per the Affordable Care Act (ACA)
• Plan cannot exclude pre-existing conditions, or have waiting periods before coverage applies
• Plan must be effective and provide active coverage the first day of the term through the end of the academic program 
• Plan must have a claims administrator who is based in the U.S., and a U.S. telephone number and address for submission of claims; in addition, the insurance policy must have been issued within the U.S.
• For all F1 or J1 students, plan must cover medical evacuation and repatriation expenses.
• Domestic students (or those who have a different visa status than noted above), the plan must cover medical evacuation and repatriation expenses if student will be studying/traveling/doing research out of the United States during the academic year.
• Plan must be comparable to annual out-of-pocket maximum limits provided by the university’s plan

Plan must provide coverage for student when traveling outside the Chicago area