Financial Aid, Student Loan Deferment, Tuition Payment and Refunds

Financial Aid

Students attending RUSM may be eligible to apply for student loans to meet their direct and indirect educational expenses. Students attending clinical clerkships must review the “Financial Aid during Clinical Sciences” document for additional information about financial aid eligibility and disbursements.

At RUSM, we know that tuition and loans are an important aspect of our students’ education. We are committed to providing clear information to facilitate our students’ financial responsibility. In this section of the Student Handbook, we’ll describe possibilities for student loan deferment while you study. We’ll also provide information about eligibility, how to pay your tuition and receive tuition refunds during withdrawals and AAs.

Student Loan Deferment

If you have previously received student loans at other institutions, you may wish to defer repayment while matriculated at RUSM. RUSM provides enrollment data to the National Student Clearinghouse which will be accessible to your loan lenders. There are certain cases (i.e., private loans) where you may need to complete a form from your lender and obtain a verification of enrollment from RUSM. The enrollment verification letter is available at the myRoss website, and should be mailed to your lender with the deferment form.

Please be advised that loans cannot be deferred during curriculum gap periods of more than 31 calendar days. This includes gaps due to studying for, sitting for, and waiting for passing results for the USMLE.

Tuition During Remedial Semesters

Full-time tuition is charged for students who are registered full-time (nine or more credits). Students must pay full-time tuition even if they are repeating courses.

Any student wishing to retake a failed course is required to repeat all courses/blocks in the semester. Students who are allowed to repeat coursework must also enroll in the Essential Lifelong Learning Skills (ELLS) remedial course. Upon successfully completing all courses with passing grades, students may progress to the next semester.

Tuition Refund Policy for Withdrawals and Approved Absences

Tuition policies are administered in accordance with federal guidelines.

A withdrawal occurs when a student’s enrollment is permanently discontinued or, in some cases, even temporarily interrupted (see below for further information on AA). An official withdrawal occurs when the student notifies the Associate Dean of Student Affairs or their designee and the Office of the Registrar in writing; an unofficial withdrawal occurs when the student does not give written notification. For financial aid and tuition purposes an AA is treated as a temporary withdrawal.

The effective date of withdrawal is normally the student’s last academically related event. When a student withdraws, RUSM assesses tuition based on the period he or she attended, and in correspondence with federal loan entitlement regulations. These are as follows:

Tuition Policy During Approved Absences

An AA may be authorized in limited circumstances (see Absences, Withdrawals and Deferrals). For financial aid purposes and tuition adjustments, an AA is considered the same as a temporary withdrawal. Requesting and receiving an AA will have an impact on your obligation to repay tuition and student loans. For purposes of student loan deferment, an AA is the same as a withdrawal, and loans will go into repayment status as of the last academically related event.

A student who begins an AA during a semester and sets a return date at the beginning of the next semester will be reported as “not enrolled” to all lenders. However, the student is not required to reapply for admission to RUSM following such an AA.

Students who successfully complete the Foundation of Medicine curriculum will be in a vacation period for up to 12 weeks. This vacation time should be used by students to study for NBME CBSE remediation and/or the USMLE Step 1. Student loans will be in deferment status for any student during their vacation period. Students are expected to return to school at the end of the vacation period to begin Internal Medicine Foundations clerkship.

If a student is unable to return to start IMF due to not passing the NBME CBSE, the student must request a deferral and be placed in a Temporary Withdrawal status prior to the start of the IMF session.

If a student has passed the NBME CBSE but requires additional time to prepare for USMLE Step 1, the student can defer IMF by either requesting an Approved Absence or be placed in a Temporary Withdrawal prior to the start of IMF.

If a student does not return to school at the end of the vacation period and had not notified the school to defer IMF, that student will be administratively withdrawn and reported to the National Student Loan Clearinghouse as withdrawn as of the student’s last academically related event, which would typically be the last day of the Foundations of Medicine course.

Student loan status during any AA after the vacation period will be treated as described above in sections regarding AAs. Any student desiring a temporary suspension of student loan payments beyond the vacation period, must contact their loan servicer to seek forbearance.