Students who wish to apply for a loan must complete the Free Application for Federal Student Aid (FAFSA) each year. Students should go to www.fafsa.gov to complete the online FAFSA and use the RVU school code 042189. RVU students are strongly encouraged to complete their FAFSA prior to April 1st.
The Office of Student Financial Services will determine the financial aid eligibility for each student annually. RVU will receive FAFSA information directly from the Department of Education. In some cases, additional documentation may be required, based upon edits in the FAFSA system or information in the National Student Loan Data System (NSLDS). We may also request other information from students in order to ensure we award financial aid in compliance with federal rules and regulations.
The maximum amount of financial aid any student may receive is the Cost of Attendance (COA). The COA is an estimate of the cost of attending RVU and maintaining a modest but adequate standard living. The COA varies by year in school and is updated annually. Students are strongly encouraged to complete a personal budget and to only borrow the minimum amount needed to cover their actual costs. Many RVU students are able to live on less than the COA by budgeting carefully and reducing their expenses for room, board, personal, and transportation costs. The COA is posted on the RVU website and MyVista.
Students may request an adjustment to their COA for required dependent-care expenses or the cost of an approved study abroad externship, as long as the student will receive credit for the course. Please contact the Office of Student Financial Services for more information.
The Office of Student Financial Services will communicate financial aid information and awards to individual students by electronic means. Any student who wishes to receive paper copies of award letters or other financial aid correspondence may opt out of electronic communications by providing a written request to the Office of Student Financial Services.
Students should be aware that RVU will submit loan information to the NSLDS and this information will be available to guaranty agencies, lenders, and schools who are authorized users of the data system.
How Aid is Disbursed
Most financial aid awards are equally split between the fall and spring semesters. Financial aid funds are usually sent to RVU near the beginning of each term and will be applied to the student’s account. Institutional charges such as tuition, fees, and health insurance will be paid first. If a credit balance remains after payment of the outstanding balance, a refund will be issued to the student within fourteen days of the creation of the credit balance. Refunds are normally disbursed through the RVU e-Refund process and are direct deposited into the student’s personal bank account.