Finance
Financial Assistance
Many students are able to pursue graduate studies by receiving financial aid from the University. Students should also apply for fellowships granted by private foundations, the federal government (e.g., the National Science Foundation), and various state organizations. It is the responsibility of all graduate students to inform the Financial Aid Office of aid they receive from non-University sources.
Federal Aid Program Link to section
Graduate students may borrow an unsubsidized loan through the Federal Direct Loan program. Students must be a citizen or eligible non-citizen, registered for at least part-time status (a minimum of 6 credit hours), and matriculated in a degree-seeking program to receive these loans. The actual amount a student is eligible to borrow cannot exceed the University of Rochester’s cost of attendance minus any other assistance received (including departmental awards) up to a maximum of $20,500/academic year. Students must complete the Free Application for Federal Student Aid (FAFSA) at www.studentaid.gov to apply.
University Awards Link to section
Students may also receive financial support through the University through scholarships, fellowships, and/or teaching assistantships.
Outside Funding Link to section
Graduate students may also receive funding from sources outside the Federal Aid Program and University awards through sources like private grants, bank loans, and employers.
See the Financial Aid Office's graduate student types of aid page for more information.
Adjustments to Financial Aid Link to section
Federal regulations determine how the Financial Aid Office calculates the adjustments to financial aid to reflect reduced tuition and fees based on an official withdrawal or University leave of absence. Institutional financial aid is adjusted using the same percentage as determined in the Tuition Refund Policy. Earned federal financial aid is calculated using the same percentage; unearned federal aid is then returned in the following order: unsubsidized Federal Direct Loans followed by any federal Grad PLUS Loans on the student account. Additional adjustments may be made to any awarded state aid, private educational loans, and/or institutional aid based on the student’s withdrawal date.
Students considering withdrawing or taking inactive status should consult with a counselor in the Financial Aid Office.
The Bursar’s Office and the Financial Aid Office work together after receiving an official Change of Status notice from the Registrar’s Office to determine these adjustments. Every attempt is made to complete the refund calculation within 30 days of the change of status.
Acceptance of Departmental Financial Assistance Link to section
The University of Rochester, as a member of the Council of Graduate Schools in the United States, subscribes to the following statement, which has been adopted by most of the leading graduate schools in North America:
“Acceptance of an offer of financial support*, such as full tuition support, a fellowship, traineeship or assistantship, completes an agreement that both student and graduate school are expected to honor. In that context, the conditions affecting such offers, and their acceptance must be defined carefully and understood by all parties. By signing this Resolution, universities commit to a fair and equitable process that allows prospective students time to receive and consider offers of financial support in the best interest of that student.
Students admitted for the upcoming fall term are under no obligation to accept or decline offers of financial support prior to April 15; earlier deadlines for acceptance of such offers violate the intent of this Resolution. In those instances in which a student accepts an offer before April 15, and subsequently desires to withdraw that acceptance, the student is encouraged to notify the program as soon as possible as a courtesy, but the student is not required to formally decline the offer until at least April 15. If the student withdraws the acceptance after April 15, the student must inform the program in writing that they are withdrawing from or declining the offer of financial support that they previously had accepted. It is further agreed by the institutions and organizations subscribing to the above Resolution that a copy of this Resolution or a link to the URL should accompany every full tuition support, fellowship, traineeship, and assistantship offer.
*This Resolution applies to offers of full tuition support, fellowships, traineeships, and assistantships only, not offers of admission.”