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FINANCIAL AID
www.du.edu/financialaid

University of Denver

Financial Aid 101: Accepting Your Aid and Next Steps

 

Welcome to the DU family! We're so excited that you have chosen to attend the University of Denver. And now that you're officially a Pioneer, we want to make sure you take all the necessary steps to secure your financial aid before the start of fall classes. So, here's a checklist of items you should complete over the summer months:

What to do now:

✓ Be sure you completely understand your financial aid award.
Have you read through the Guide to Your Financial Aid Award? If you haven't yet, we highly recommend that you do, as it contains a lot of important information about the financial aid process. If you have questions that aren't answered in that guide, please visit our website, review past Financial Aid 101 emails or contact us. We want to make sure you completely understand your financial aid before moving on to the next step: accepting your awards.

✓ Say YES (or NO) to your awards.
With the exception of most DU scholarships and grants—which are usually accepted on your behalf—you must choose to accept or decline each award in your financial aid package. To do this:

  1. Log into http://webCentral.du.edu.
  2. Go to the Admitted Students tab and click on the "View and Accept Award Offer" link in the Financial Aid Information box.
  3. Select the 2014-2015 Aid Year from the drop-down menu. 
  4. Go to the Terms and Conditions tab and read through the terms of accepting financial aid at the University of Denver. Then, click on the "Accept" button at the bottom of the page.
  5. Go to the Accept Award Offer tab. Next to each type of aid, select "Accept" or "Decline" in the drop-down menu. You can also accept a smaller portion of a particular award (such as a loan) by entering that amount in "Accept Partial Amount" box.

Want to see the process of accepting your award step-by-step? Watch our video!

Some types of aid, including work-study and the Perkins loan, requires students to accept it by July 1st. If you were offered either of these awards in your financial aid package, be sure to accept them by that date or we must cancel them and offer those awards to someone on the waitlist. 

Remember: Any financial aid you accept will automatically be split evenly between fall, winter and spring quarters. Be sure to keep that in mind if you only accept a partial amount of a loan, as that partial amount will be split evenly as well.

What to do in June:

✓ Complete Student Loan Requirements
If you were offered (and you accepted) either a Perkins loan and/or a Direct loan, you must complete these steps in order to receive your loan funds in fall:

For a Federal Perkins loan:

For a Federal Direct Subsidized/Unsubsidized loan:

  • Log into www.StudentLoans.gov. (You will need the same PIN you used to complete the FAFSA. If you forgot it, you can request a duplicate PIN.)
  • Complete both Entrance Counseling and the Master Promissory Note. The links to both of these items will be on your homepage after you log in.

Once you have completed these requirements, we will automatically be notified electronically.

✓ Formulate your financing plan for unmet costs.
You will need to determine a financing strategy to help cover the costs your financial aid doesn't cover. If you haven't already, complete the estimated billing worksheet to help you calculate your unmet cost to attend DU. Remember the past Financial Aid 101 email about managing unmet cost? Use the information included in that email to help you formulate your financing plan.

✓ Apply for additional loans (if desired).
One of the ways many students choose to cover unmet cost is through additional loans. Review our past emails about Federal Parent PLUS loans and private education loans for more information (including application instructions) about these options.

If you do apply for an additional loan, the lender will send us a request to certify your eligibility for the loan, and we will add it to your financial aid package. Once added, you will receive an email when an updated award letter is available for you to view on webCentral.

What to do in July:

✓ Sign up for a payment plan (if desired).
If you are interested in utilizing DU's tuition payment plan, the Bursar's Office recommends that you wait to receive your estimated bill—which you will receive in July—before signing up. We'll have additional information about this option in next week's Financial Aid 101 email.

✓ Keep an eye on your financial aid account through webCentral.
You can always check the status of your financial aid by logging into webCentral. In fact, we recommend that you visit it frequently, as it will always have the most up-to-date information about your financial aid. 

In particular, you should regularly check the "Financial Aid Requirements" box on your Admitted Students tab. If you see any item with a red flag next to it, it almost always means we are missing something from you (and red flags may prevent you from receiving your financial aid on time!). Click on each requirement to learn what you need to do. If there is a green check mark next to a requirement, however, you're good to go! 

(One quick note: If you have accepted a Direct Subsidized/Unsubsidized loan, you will see a requirement for the Master Promissory Note (MPN) in webCentral. However, we can't attach completed MPNs to student accounts until June. So, even if you have completed the MPN—and the Department of Education notified you that it was sent to DU—this requirement will still have a red flag next to it until we can update your account later next month. But don't worry; we have it!)

What to do throughout your time at DU:

✓ Keep in contact with us!
We will continue to communicate with you periodically over the summer and throughout your time at DU, so make sure you read those emails! They always contain important information about your aid or additional steps you need to take. And be sure stay in contact with our office in the future to let us know if you change your enrollment plans, received a private scholarship, or just have questions! We're always here to help.


Up next week: Billing, Disbursement and Payment Plans

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

Financial Aid | University Hall 255 | 2197 S. University Blvd. | Denver, CO 80208
303.871.4020 | FAX: 303.871.2341 | finaid@du.edu | www.du.edu/financialaid
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