Aid and Your Bill
The Financial Aid Office assists
students and families in financing a RISD education.
The Student Accounts Office sends out bills and accepts payment for student accounts. Students
are billed for tuition and fees based on their
enrollment for the semester. Those who live on campus are also billed for their room
and board charges. The office also assists students with questions or
concerns regarding their tuition, fees and related costs, as well as financial deposits to tuition or departmental
How Aid is Applied to Your Bill
Financial aid is awarded for the entire
academic year. When you receive your tuition bill each semester, it will include half of
the total financial aid you have been awarded. Below is some information
regarding specific types of awards:
Federal Loans (Direct Subsidized and
Unsubsidized, Graduate PLUS, Direct Parent PLUS)
Federal regulations prohibit any federal
loans from being disbursed prior to 10 days before classes begin. When
you receive your first billing statement from Student Accounts your federal
loans will be listed as pending so that you can accurately determine any
remaining balance due.
Federal Direct Parent PLUS Loans will credit to your account 10 days
before classes as long as the borrower has completed a Master Promissory Note.
All other federal loans will credit to your account 10 days
before classes as long as you have completed a Master Promissory Note, Entrance
Counseling and have submitted all verification documents if required.
RISD Scholarships and Grants
RISD scholarships and grants will be credited
to your account prior to your first bill being mailed by Student Accounts.
Students whose total disbursed financial aid
exceeds their direct costs will receive a refund for the excess funds.
These refunds are to be used for education-related expenses such as
room, board, transportation and supplies. Refunds
are generally available from Student Accounts approximately two weeks after the
start of class so it is important to budget your expenses appropriately.
Refunds are issued in the student's name and placed in the student's RISD
mailbox except when the credit is caused by a Federal Direct Parent PLUS Loan.
These refunds are in the parent borrower's name and mailed directly to
the parent borrower.
Students that receive outside scholarships
are required to notify the Financial Aid Office. Although we consider
these scholarships as part of your total financial aid package, they do not
appear on your bill as pending and will not show up until a check has been
Private Education Loans
Private education loans are certified for the
entire academic year, which means half will come in for the Fall semester and
half for the Spring semester. These loans will appear on your account as
pending until the lender sends the loan funds to RISD. No loan funds can
be received earlier than 10 days prior to the start of classes.
Bills are typically mailed in the first week of
July with a due date of August 15.