Financial Aid assists students with paying for their educational costs. To apply for financial aid for the academic year, students should complete the Free Application for Federal Student Aid (FAFSA), which can be completed online. Be sure to include the Radford University school code (003732) so we receive a copy of your application.
Once your application is received by the university we will work with you to complete your application. We will contact you through email using the address provided on the FAFSA. When we finalize your FAFSA you will be notified by email of the awards you are eligible to receive.
You can review your award package on MyRU and make the decision to accept or decline the awards offered to you using our online award process.
If a student does not want to complete the FAFSA, they may apply for a Private Education Loan. These are credit based loans that are provided through a variety of lending institutions. You can find more info on private education loans by visiting the Financial Aid website. All private loan applicants should complete and submit the Financial Aid Information Sheet found on the forms section of our website.
Financial aid that has been awarded to you or certified through the Financial Aid Office can be used to offset university charges of tuition, fees, room and board. These awards will be deducted from charges on your billing statement. If you have financial aid assistance that is coming to you from an outside source, such as a private scholarship, you will need to provide documentation of this award to the Student Accounts office and pay any remaining balance due.
We recommend that all financial aid recipients and student employees setup direct deposit. Direct deposit will help students receive refunds and paychecks in a timely and convenient manner. The direct deposit form can be found on the Student Accounts website.
Financial aid awards come in three forms:
- Grants & Scholarships do not require repayment. For most grant
programs, students must establish a need based on the Estimated
Family Contribution (EFC) as calculated by the FAFSA. Freshmen
scholarships are administered through the Admissions Office.
- Loans do require repayment. The Federal Student Loan program allows students to borrow funds through a government lending program that does not require repayment while the student is enrolled at least half time. Private Education Loan programs allow students to borrow funds through various lending institutions, the principal amount of the loan often times does not require repayment while the student is enrolled at least half time, but can require interest payments be made while the student is in school.
- Student employment positions are awarded to students based on their financial need. After the second week of classes any open positions are made available to all students. A student is eligible to work 12 hours per week on campus at a rate of $7.25 per hour. The money awarded for work study cannot be used to defer university charges.