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2019-2020 College of Pharmacy

Cost of Attendance

The Cost of Attendance (COA) determines your maximum financial aid. Individual aid sources are limited by program maximums. Total aid from combined sources, including Federal Direct Unsubsidized Stafford and Grad PLUS loans, scholarships, and Federal Work-Study cannot exceed the school-approved Cost of Attendance. The COA determines the maximum you can receive in financial aid.

The COA is designed to support the student attending school, not extended family, except as noted under Budget Adjustment Allowances below. COA is reviewed annually and updated with estimated information in April of each year; information is not finalized until the May Board of Trustees meeting. NOTE: TUITION AND FEES ARE SUBJECT TO CHANGE WITHOUT NOTICE.

A student’s annual COA includes:

  • Direct costs (expenses paid to RFU):
    • Tuition
    • Mandatory fees
  • Indirect costs (funds a student may request for other allowed costs):
    • Room and Board (Housing, Utilities & Food)
    • Books and supplies
    • Transportation (gas, auto insurance, maintenance)
    • Personal Expenses

Budget Adjustment Allowances

Federal regulations allow the Office of Student Financial Services to consider only those expenses that are directly related to your attendance at RFU. Budget adjustment allowances may be granted based on documented expenses for the specific enrollment period for:

  • Dependent day care
  • Vehicle repair
  • Paid medical bills not reimbursed by insurance
  • One-time computer purchase
  • Student Health Insurance coverage
  • USMLE/APMLE Exam Fees

Students requesting an adjustment will be required to complete a separate application and provide documentation of all relevant expenses. For additional information contact the Office of Student Financial Services at (847)578-3217.

Non-Allowable Expenses

Federal regulations stipulate that the following expenses cannot be included in a student’s COA, regardless of the circumstances.

  • Automobile Payments and/or Purchase
  • Consumer Debt (i.e. credit card debt, previous student loan debt or payments)
  • Moving Expenses
  • Dependent Insurance
  • Aid during periods of non-enrollment

All figures indicated below are for the 2019-2020 academic year

The cost of attendance is based upon maximum costs for the 2019-2020 academic year. Allowances are provided to assist in meeting educational costs and moderate living expenses. Students receiving a scholarship or other awards must subtract such awards from the budget in determining their maximum borrowing limit, i.e. loan eligibility.

The THRIFTY budget provides an optional cost of attendance that is calculated with lower indirect expenses, such as room and board. Students are not required to use the THRIFTY Budget but should consider it as an option when thinking through their living expenses during their health profession education. Sticking with the THRIFTY budget will have a measurable effect on student loan debt at graduation.

Budget Component First-Year COP Budget 3 quarters
COST OF ATTENDANCE Standard Budget THRIFTY Budget
Tuition  $38,273  $38,273
Fees  $1,173  $1,173
Books and Supplies  $1,400  $700
Room and Board  $13,527  $11,775
Transportation  $2,568  $2,322
Personal Expenses  $2,730  $1,905
Total Estimated Cost  $59,671 $56,148
 NOTE: TUITION AND FEES ARE SUBJECT TO CHANGE WITHOUT NOTICE. 
Budget Component Second-Year COP Budget 3 quarters
COST OF ATTENDANCE Standard Budget THRIFTY Budget
Tuition  $38,273 $38,273
Fees  $864 $864
Books and Supplies  $1,040  $520
Room and Board  $13,527  $11,775
Transportation  $2,568  $2,322
Personal Expenses  $2,730  $1,905
Total Estimated Cost  $59,002 $55,659
 NOTE: TUITION AND FEES ARE SUBJECT TO CHANGE WITHOUT NOTICE. 
Budget Component Third-Year COP Budget 4 quarters
COST OF ATTENDANCE Standard Budget THRIFTY Budget
Tuition $38,273 $38,273
Fees $918 $918
Books and Supplies $1,040 $520
Room and Board $18,036 $15,700
Transportation $3,424 $3,096
Personal Expenses $3,640 $2,540
Total Estimated Cost $65,331 $61,047
 NOTE: TUITION AND FEES ARE SUBJECT TO CHANGE WITHOUT NOTICE. 
Budget Component Fourth-Year COP Budget 4 quarters
COST OF ATTENDANCE Standard Budget THRIFTY Budget
Tuition $38,273 $38,273
Fees $1,020 $1,020
Books and Supplies  $540  $540
Room and Board $18,036 $15,700
Transportation $3,424 $3,096
Personal Expenses $3,640 $2,540
Total Estimated Cost $64,933 $61,169
NOTE: TUITION AND FEES ARE SUBJECT TO CHANGE WITHOUT NOTICE. 

Budgeting

You can use the Cost of Attendance to get a rough idea of the maximum you can spend on living expenses for the upcoming year. But before you request loans, use our budget worksheet to break down your living expenses and determine how much you actually will need to borrow. Try to do this before you sign your rental agreement. You should also project your borrowing over the academic year and visit the U.S. Department of Education's Calculators and Interest Rate use the loan calculators to help you estimate your future repayment amounts.

Incoming students should bring enough money with them for initial startup costs. Even if you are expecting financial aid, you should bring enough money with you to cover "setting up" expenses such as security deposits, utility connection charges, first rent payment, purchase of initial household supplies and food. Financial aid for living expenses will be available the first week of classes for each quarter.

One-on-one counseling is available. Student Financial Services can help you develop a budget and identify costs that can be reduced so that you can live within your resources. If you find that you can live on less than what you have borrowed, you should discuss reducing your loans with Student Financial Services.

Federal Direct Student Loan Program Information

William D. Ford Federal Direct Unsubsidized Stafford Loans

  • This loan is not based on financial need.
  • This loan is unsubsidized, which means that you pay the interest while in school.
  • You may choose to defer any payments while you are enrolled in school at least half-time and during your six-month grace period before repayment. All unpaid accrued interest will be capitalized and added to the outstanding principal balance.
  • Repayment on your loan begins six months after you leave school or drop below half-time.
  • Interest rates are available at www.studentaid.ed.gov
  • Annual and aggregate loan limits are available at: https://studentaid.ed.gov/types/loans/subsidized-unsubsidized#how-much
  • If you are a first-time borrower you must complete an online entrance counseling quiz and the master promissory note before you can receive your loan funds.

William D. Ford Federal Direct Graduate PLUS

  • This loan is not based on financial need.
  • You may borrow up to the cost of attendance for the academic year less any estimated financial aid you will receive each academic year.
  • This loan is limited to students who pass a credit check.
  • Interest begins to accumulate at the time the first disbursement is made.
  • Information regarding interest rates is available at: www.studentaid.ed.gov
  • Repayment on your loan begins six months after you leave school or drop below half-time.
  • First-time borrowers of the Graduate PLUS must complete an online entrance counseling quiz and a master promissory note.

Disbursement

Your loan proceeds will be divided by the number of terms you attend and will be credited to your RFU student account. Once your direct costs have been paid any remaining funds will be disbursed either electronically to your bank account or mailed to you.

Repayment Options

The Federal Direct Loan Program offers a variety of different repayment plans. Information on the various plans is available from the U.S. Department of Education's Repayment Plans page. You may utilize the U.S. Department of Education's Calculators and Interest Rate to estimate the duration and amount of your loan repayment based on the various repayment options.