Notification of awards will be made as quickly as possible. Students should receive an award letter listing all aid eligibility. The student must sign and return the award letter indicating if they accept or decline the aid package. Students accepting student loans must complete Entrance Counseling and sign a Master Promissory Note to complete the loan process. Click the studentloans.gov link to complete this process. Finalized financial aid will be applied to the student account after the drop/add period each term. Students must have completed and submitted all necessary paperwork required by the Financial Aid Office before aid will be credited to the student’s account.

Balances owed after student financial aid is applied to the student account are the responsibility of the student and/or parent and must be paid by the date specified by the University Business Office each term. Student accounts showing a credit balance will receive an overage check within 14 days of the financial aid being applied. The first checks are mailed five weeks after the start of each term.

If your family experiences a change of income due to loss of employment, disability or natural disaster, loss or reduction of untaxed income, separation or divorce, death of a parent or spouse, excessive medical or dental expenses paid out-of-pocket, parents attending college, sibling private school tuition paid, or a one-time lump sum, you may be eligible for special circumstances. Special circumstances are considered at the professional judgment of the Financial Aid Office. The Financial Aid Office reserves the right to approve or reject applications for special circumstances. A change of circumstances can sometimes change your eligibility for financial aid. Contact the Financial Aid Office for more information.

Financial Aid assists students and families with the cost of a college education. How much financial aid students may receive at Rio Grande depends on different factors. The two factors that determine financial aid eligibility are merit and need.

Merit-based aid is determined based on special achievement or a specific talent. The most common type of merit-based aid are scholarships, which typically come from either outside sources or Rio Grande. All of Rio Grande’s merit scholarships are listed under the scholarships tab on our financial aid homepage.

The majority of financial aid offered to Rio Grande students is need-based aid, which is generally determined by your Expected Family Contribution (EFC), year in school, enrollment status, and cost of attendance (COA).

Types of need-based financial aid include:

• Federal Pell Grant
• Federal Supplemental Educational Opportunity Grant
• Direct Subsidized Loan
• Federal Perkins Loan
• Federal Work-Study

The formula to determine financial need is:

Cost of Attendance (COA) – Expected Family Contribution (EFC) = Eligibility for need-based aid

Cost of Attendance (COA) is used to determine eligibility for financial aid and reflects the different estimated costs to attend Rio Grande. This budget is comprised of; direct costs (tuition and fees, on-campus room and board), indirect costs (transportation, personal miscellaneous expenses, books and supplies, and off-campus living).

The actual cost of attending Rio Grande may differ from the estimated COA used to determine eligibility for financial aid.

Expected Family Contribution (EFC) is the amount student’s and their family are expected to pay toward a college education. This is calculated using a formula established by the U.S. Congress based on the information the student and their family provide on the Free Application for Federal Student Aid (FAFSA)

Eligibility for need-based aid is the result of COA minus EFC, and establishes the different Federal and State aid eligibility annually. It is important to note that while the goal is to meet the full demonstrated need of students, limited resources do not always allow this to happen. In cases where a student receives assistance in an amount less than the demonstrated financial need, families may need to pay more than the calculated EFC in order to cover the costs associated with enrollment at Rio Grande.

Federal Title IV financial aid (Pell Grant, Direct Loan, FWS, SEOG, etc) may only be paid for classes in which a student begins attendance.  Faculty members report any students as non-attending within the first two weeks of a traditional semester and within the first week of an accelerated term.  Financial aid is adjusted and paid based on the hours documented on the student’s academic record as registered and attending as of the 15th day of a traditional semester and the 5th day of an accelerated term.  For full policy, click here:

Non-Attendance Policy

By Federal regulations, Rio Grande is required to disclose specific consumer information to current and prospective students and employees. The following links will allow you to view the required information.

Student Consumer Information

The University of Rio Grande follows established guidelines for the prevention of, identification of, and response to indications of identity theft and financial aid fraud. To read the full notice, follow the link:

Notice Regarding Financial Aid Fraud

Students enrolled in any study abroad program may qualify for Federal Student Aid through the traditional Financial Aid process as a regular Rio Grande student. All regular billing and financial aid deadlines remain the same for all study abroad students.

The Return of Title IV Funds Policy applies to students who have withdrawn from all of their coursework, ceases attendance in ALL scheduled courses, or fails to earn a grade in all of their courses. Students who have received federal financial aid funds are required to earn these funds by attending classes through at least 60% of the period of enrollment. Students who fail to meet this guideline will be required to repay all or portion of their financial aid, and risk being placed of financial aid probation or suspension.

Return of Title IV Funds Policy

Federal regulations require the university to establish and apply reasonable standards of satisfactory progress for the purpose of the receipt of financial assistance under the programs authorized by Title IV of the Higher Education Act. The law requires institutions to develop policies regarding satisfactory academic progress (SAP). Each institution must design criteria, which outlines the definition of student progress towards a degree and the consequences to the student if progress is not achieved. URG students who wish to be considered for financial aid must maintain satisfactory progress in their selected course of study as set forth in this policy. For full policy, follow link:

Satisfactory Academic Policy for Financial Aid

Under federal law, a recipient of Title IV Federal financial aid who is convicted for possession and/or sale of illegal drugs while enrolled as a student will be ineligible for further federal financial aid funding for a specific period.

The chart below shows the periods of ineligibility.

*If convicted of both possession and selling illegal drugs, the student will be ineligible for the longer period.

A Student regains eligibility the day after the period of ineligibility ends or when the student successfully completes a qualified drug rehabilitation program. The student will lose eligibility again upon a subsequent drug conviction.

For more information, feel free to contact the Federal Student Aid Information Center at 1-800-4-FED-AID.