Finanancial Aid Applications
The Free Application for Federal Student Aid FAFSA (available October 1st for the following academic year) http://fafsa.ed.gov
The Free Application for Federal Student Aid (FAFSA) is used to determine eligibility for federal aid. We strongly encourage you to use the IRS data retrieval process when completing your FAFSA. Using this process will quickly transfer tax return data directly into your application and may prevent you from having to submit further documentation from the IRS
Make sure you include University of Denver's Federal School Code: 001371.
The CSS Profile (available in October for the following academic year) https://cssprofile.collegeboard.org/
This application--provided through the College Board--is used to determine your eligibility for institutional aid. If your parents are divorced or separated, the Noncustodial Parent CSS Profile must also be completed. ( Note: The CSS Profile is not required for students in the Colorado Women's College or University College.)
The College Board charges $25 for the first college and $16 for each additional college. First-time applicants from families with low income and limited assets may be eligible for an automatic College Board fee waiver. If you're concerned about paying the fee, we encourage you to complete the Profile application and see if you qualify for an automatic fee waiver.
Make sure you use University of Denver's PROFILE School Code: 4842.
Federal Direct Subsidized/Unsubsidized Loans
An education is one of the best long-term investments you can make in your future, and borrowing is one way to fund that investment. With careful planning, a loan can be a smart decision for you and your family, as many educational loans have more favorable terms than other consumer loans (such as car loans or credit cards). However, since all loans must be repaid, you should only borrow what you need.
U.S. Department of Education
Available to students who have submitted a FAFSA. Subsidized loans are available to students with financial need; unsubsidized loans are available regardless of need. If eligible, one or both of these loans will be included in your award package.
Maximum Loan Amount:
Dependent Students as defined by the FAFSA (except students whose parents are unable to obtain PLUS Loans)
First-Year Undergraduate $5,500—No more than $3,500 of this amount may be in subsidized loans.
Second-Year Undergraduate $6,500—No more than $4,500 of this amount may be in subsidized loans.
Third-Year and Beyond Undergraduate $7,500—No more than $5,500 of this amount may be in subsidized loans.
Independent Students as defined by the FAFSA (and dependent undergraduate students whose parents are unable to obtain PLUS Loans)
First-Year Undergraduate $9,500—No more than $3,500 of this amount may be in subsidized loans.
Second-Year Undergraduate $10,500—No more than $4,500 of this amount may be in subsidized loans.
Third-Year and Beyond Undergraduate $12,500—No more than $5,500 of this amount may be in subsidized loans.
Both types of loans have a fixed interest rate (5.045% for 2018-19). The U.S. Department of Education pays the interest on a subsidized loan while you are enrolled at least half-time (6 credits). Interest accrues on an unsubsidized loan while you are in school and on both loans during the grace period and during repayment. Interest can be paid as it accrues; if not paid, it will be capitalized at repayment. New fixed interest rates are set on each July 1st for the upcoming academic year.
An origination fee (1.066% for 2018-19) is deducted at disbursement of each installment of the loan.
To receive funds, you must accept the loan(s) through PioneerWeb, complete both a Master Promissory Note and Entrance Counseling online at www.StudentLoans.gov, and remain enrolled at least half-time (6 credits).
Repayment begins once the 6-month grace period ends after you graduate or after you are no longer enrolled at least half-time. Payments are made to your Direct Loan servicer.
The standard repayment period is 10 years but can be as long as 30 years depending on total borrowing and chosen repayment plan. Loans may be consolidated with other federal loans.
Federal Work-Study/Student Employment Program
There are many good reasons to work while attending DU. Students minimize borrowing by earning money to help pay for college expenses and gain valuable skills and experience. Many studies show that working while taking classes can actually improve academic performance.
Financial Aid is here to assist DU students with two kinds of work opportunities: work-study and other part-time positions.
What is work-study?
Work-study is a need-based financial aid award that allows students to work on campus (or with an approved off-campus employer) to earn money to help pay for educational expenses. It's not a grant (because students must work to earn it), and it's not a loan (because students don't have to repay it).
Because work-study funding is limited, it's not included in all students' award packages. Priority is given to those who applied for financial aid by the priority deadline, and if the student is eligible, it will be included on his or her financial aid award letter. If the student has been offered work-study, he or she will need to accept it on PioneerWeb byJuly 1st and secure a position by October 15th or it will be cancelled. (Current students who are studying abroad in the fall have until January 31st to secure a position.)
Students can only apply for work-study positions if he or she has this award as a part of his or her financial aid package, and he or she must be enrolled at least half-time (6 credits) to use it.
The amount shown on the student's award letter is the maximum amount he or she can earn over the academic year (typically $2,500 for new students and $3,000 for continuing students). The student's actual earnings will depend on his or her work schedule and hourly rate. Since there is no pre-set pay rate, the amount earned will depend on the position acquired. The student will be paid every two weeks for the hours worked, and the student's paycheck will be sent directly to him or her (not applied to the student's bill).
Other Part-Time Positions:
There are other work opportunities available! Student Employment maintains an online job board of on-campus positions that do not require work-study and off-campus positions in the greater DU and Denver area. These positions are available to all students, regardless of financial need or work-study eligibility. Access the job board listings through the Student Employment website.
The University of Denver is committed to giving high-potential students access to DU's foundational and transformational education. You are automatically considered for merit scholarships when you apply for admission to DU, and if you are eligible for a merit scholarship, you will be notified in your DU acceptance letter. Visit the Financial Aid website for more information.
Satisfactory Academic Progress
In order continue receiving financial aid, you must maintain Satisfactory Academic Progress (SAP).
Federal regulations require us to monitor the academic progress of all students receiving financial aid toward the completion of their degree. (Please note: this policy pertains only to financial aid and is separate from other academic policies published by the institution.) SAP is monitored on a yearly basis—usually in mid-to-late summer—and is effective the following fall term. As a financial aid recipient, you must maintain the following minimum standards to continue receiving financial aid:
- You must maintain a Cumulative Grade Point Average (CGPA) of 2.00 (2.50 for BS in Accounting students).
- You must complete and pass a minimum of 66.6% of all courses attempted. This is known as your Cumulative Completion Rate (CCR).
- You must complete your degree within 150% of the minimum credits required to graduate. This is known as the Maximum Time Frame (MTF) limit.
Visit the Financial Aid website for more information.
WITHDRAWAL AND FINANCIAL AID
Any student who begins classes at DU, applies for financial aid, completes all of the requirements to obtain aid and then withdraws from classes may have his or her financial aid adjusted according to federal, state and institutional regulations. Students must contact the Office of the Registrar to withdraw officially from the University. Students must contact Academic Advising after withdrawing to complete leave of absence information. Leave of absence affects financial aid status upon return to the University; it does not affect withdrawing from the University.
Students who withdraw during the 100 percent refund period (drop/add) for any term may have all of their aid for that term cancelled and returned depending on the type of withdrawal. Students who drop below the number of hours reflected in their financial aid budget during the drop/add period will have their budget adjusted to reflect the new hours and aid will be adjusted accordingly.
RETURN OF TITLE IV (R2T4) FUNDS POLICY
Title IV (Federal) funds are awarded to you under the assumption that you will attend school for the entire period for which the assistance is awarded. When you withdraw from all courses, for any reason including medical withdrawals, you may no longer be eligible for the full amount of Title IV funds you were originally scheduled to receive.
If you withdraw from all courses prior to completing at least 60% of term, you may be required to repay a portion of the federal financial aid you received for that term. A pro rata schedule is used to determine the amount of federal student aid funds you will have earned at the time of withdrawal.
The return of funds is based upon the concept that students earn their financial aid in proportion to the amount of time in which they are enrolled. Under this reasoning, a student who withdraws in the second week of classes has earned less of his/her financial aid than a student who withdraws in the seventh week. Once 60% of the term is completed, you are considered to have earned all of your financial aid and will not be required to return any funds. If you withdraw during the 100% refund (add/drop) period for any term, all of your aid for that term will be cancelled and returned.
Visit the Financial Aid website for more information.