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Financial Aid 101:
Planning for Four Years

University of Denver Financial Aid

Investing in a college education is a large expense for most families. To make the most of this investment, we recommend that all students create a financial plan. It’s not enough just to “get” to DU—we want you to graduate!  A lot of unexpected changes can happen; creating a strategy before you arrive on campus will help you immensely. This email outlines some factors to consider when creating your four-year plan.

The Cost of DU
Tuition, housing, and meal plan rates change over time. Based on information from prior years, you should anticipate a small increase in costs annually. New rates are typically announced in March.

Aid in Future Years
There are a variety of factors that can impact the amount of aid a student will receive in subsequent years. The most important points to remember are:

  • Apply for aid every year. The financial aid award estimate you recently received is only for the 2016-2017 academic year. With the exception of admission merit scholarships, financial aid awards are not automatically renewed—you must apply for aid each year you attend DU. The priority deadline for continuing students to apply for aid is March 15th. Be sure to submit your application by that date so you don’t miss out on funding!!
  • Merit scholarships amounts are fixed. Although tuition costs will increase slightly each year, your merit scholarship will remain the same for all four years.
  • You can only receive your Residence Hall Grant if you live on campus. If your financial aid estimate included a Residence Hall Grant, it can only be used if you live on campus. So, if you move off campus your junior and senior years, for example, you will no longer be eligible for that aid.
  • You may be eligible for additional departmental scholarships in future years. Once you have chosen a major, you may be eligible for additional scholarship aid from your academic department. While many of these scholarships require financial need, some are merit-based. The Departmental Scholarship Application opens annually in March.
  • You will be eligible for additional Federal Direct loan funds in future years. If needed, you can borrow an additional $1,000 in Direct Subsidized/Unsubsidized loans your sophomore year, and an additional $2,000 your junior and senior years.
  • Pay attention to the requirements to keep your aid. To remain eligible for financial aid, you must maintain Satisfactory Academic Progress. There are also minimum enrollment requirements for certain awards.

Multiple Siblings
The number of siblings in your family concurrently attending college can have a considerable effect on your financial aid eligibility. Your financial aid package will change in future years if there is a change in the number of siblings enrolled in college. Contact our office for more information.

Life Changes
Your financial aid application only captures one point in time in your financial life. In the future, if there is an unexpected change to your or your family's financial situation that is not reflected on your FAFSA or CSS PROFILE, you may submit a Special Circumstances form (also known as an “appeal”). Examples that may constitute a special circumstance include loss or reduction of employment or wages, bankruptcy or foreclosure, or loss of child support.

Summer Earnings
Don’t forget about the earning potential you have during the summer! Summer earnings can be set aside to help with books, supplies, and other costs throughout the upcoming academic year.

Tax Benefits
There are a number of tax credits and deductions available that can help you and your family with higher education expenses. Be sure to speak to a tax advisor about these opportunities when you file your taxes next year! 

Other Tips

  • If you borrow an Unsubsidized Direct loan or private loan, pay the interest on these loans, if possible, during the year. Paying the interest as it accrues will reduce the amount you owe at graduation.
  • Put time and effort into applying for private scholarships! There are many scholarship opportunities available through entities not affiliated with DU, including community, women’s, ethnic, or religious organizations. The most common application period is late-Fall through early-Spring. Begin your search on our scholarship search page.
  • Cut costs any way possible—rent rather than purchase books, buy clothing at thrift stores, etc. Live like a college student now so you don’t have to after you graduate!

The bottom line: Be sure your college financing strategy is a strategy you can rely on for four years. Need help? Feel free to contact our office. Our advisors can help map out a plan for you and your family.

Up next week: What to Expect Going Forward/Next Steps

Want to review past Financial Aid 101 emails? Check out the archives!

Contact Us:

Financial Aid • University Hall 255 • 2197 S. University Blvd • Denver, CO 80208

Ph: 303.871.4020 • Fax: 303.871.2341 • Email:

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