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General Information

Financing an Education

Financial Assistance

Merit-Based Scholarships

Merit-based scholarship recipients demonstrate outstanding academic achievement, talent, leadership, and potential. The Admissions Office carefully considers students' application for admission when making these decisions. Merit-based scholarships will be included in the calculation of need-based aid. The Office of Admissions section provides additional information on these awards.

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Need-Based Financial Aid Programs

Demonstrated need is calculated by subtracting a family’s estimated contribution from the cost of attendance. The Financial Aid Office uses demonstrated need to determine eligibility for grants, loans, and work study. While students' financial aid packages vary based on students' demonstrated need, the following are some of the most common financial aid programs. Amounts will vary based on students' demonstrated need. Aid cannot disburse to the students' account until at least 10 days prior to the beginning of classes each term.

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Federal Pell Grant—A federal program designed to assist students whose families demonstrate the highest need.

Federal Supplemental Educational Opportunity Grant (SEOG)—A joint program between the federal government and the University of Rochester to provide additional funding to students whose families demonstrate the highest need.

New York State Tuition Aid Program (TAP)—A NYS program based upon a family’s NYS taxable income. This requires a separate application available once the FAFSA has been filed. Our school code is 1015. If the application is not completed, any estimated awards will be lost.

New York State Bundy Grant—A NYS program that allows the University to provide grant funding to NYS residents whose families demonstrate the highest need.

Rochester National Grant—The University of Rochester commits significant resources to need-based grant funding.

Endowed Scholarships—The Rochester National Grant is funded through hundreds of need-based endowed scholarships.

State Grants—Certain states outside New York will allow their grant programs to be used at schools in New York. Contact your state agency for more information.

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Subsidized Federal Direct Loan—The Direct Loan Program is a federal program designed to provide students demonstrating financial need with a low-interest loan to help cover the cost of education. Maximum annual eligibility is determined by the students' class year standing.

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Work Opportunities

Federal Work-Study Program (FWS)—The FWS program is a joint program between the federal government and the University designed to provide opportunities for students to work during the school year to earn money to help cover their educational expenses. Opportunities are available across campus as well as the surrounding community. Students are paid an hourly wage for work performed. There is a special emphasis on community service opportunities.

University Student Employment—Campus employment is not limited to the FWS Program. Many students without FWS eligibility work in dozens of different departments on campus.

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Other Financial Resources

In addition to the merit- and need-based programs offered through the University, there are many other financial resources students and families may wish to pursue. For example, the strength of the candidates who apply to the University often makes our applicants excellent candidates for outside scholarships. Family employers, local foundations, clubs, and community agencies are excellent sources for scholarship opportunities. In addition, students should take advantage of resources such as their guidance office, local library, and the Internet. The Financial Aid Office’s website includes links to multiple resources.

Many families are also interested in financing a portion of the cost of education through long-term financing options. Additional information regarding these options is available on the Financial Aid Office’s website.

Common programs include the following:

Unsubsidized Federal Direct Loan—The Direct Loan Program also offers an unsubsidized version for students whose financial need is met through other resources. The interest on this low-interest educational loan accrues while the students are in school.

Federal Direct Parent Loan for Undergraduate Students (PLUS)—The PLUS Loan Program allows parents to borrow up to the cost of education minus any other financial aid offered. This loan can be deferred while the students or the borrowers are enrolled at least half time in a degree-seeking program.

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