In this update:
- Fall Quarter Disbursement of Aid and Refunds
- Fall Enrollment Adjustments
- Student Loan Interest Rate Changes
- Smart Loan Borrowing
- Upcoming Important Dates
Fall Quarter Disbursement of Aid & Refunds
Your DU tuition bill is due on August 29th. On that date, your financial aid for fall quarter will disburse to your student account and will pay toward your charges—as long as all financial aid requirements are satisfied.
In order to receive your financial aid, you must:
- be registered for at least 4 credits,
- have accepted your financial aid through PioneerWeb, and
- have no outstanding requirements on the Student tab of PioneerWeb, (which is indicated by a red flag).
Expecting a refund? If your financial aid is more than the total of your charges, a refund will be generated by the Bursar's Office on Tuesday, September 2nd. If you have direct deposit, you can expect to see your refund in your bank account on September 3rd.
Did you know you can calculate your estimated refund through PioneerWeb? Go to the Student tab and click on the "Autumn Quarter 2014" link in the My Account box. Then, subtract your total "Term Credits and Payments" from "Term Charges." If the result is a positive number, you'll receive that amount in a refund.
Learn more about billing and disbursement >>
Fall Enrollment Adjustments
At the end of the 100% add/drop period each quarter, we must verify your enrollment. The last day you can either add a class without being assessed a late fee or drop a class to receive 100% of the tuition refunded for fall quarter is Sunday, September 14th. After that date, we will verify your enrollment and make any necessary changes to your Cost of Attendance.
Your Cost of Attendance and financial aid is based on the typical enrollment of students in your program. If you are enrolled in fewer credits for the fall quarter than indicated for your program, your financial aid refund may be too large and we may need to return a portion of your loan funds back to the U.S. Department of Education (which will create a balance due with DU). If you are enrolled in more credits, you will receive a smaller refund to use for living expenses (if you planned to borrow for those).
Additional information about the enrollment adjustment policy—and the next steps you may need to take—is available on our website.
Student Loan Interest Rate Changes
As you may remember, last year the government passed a bill that now links federal student loan interest rates to the 10-year Treasury bill. This means these loans are considered "variable-fixed," meaning you receive a new rate each year you borrow an additional loan, but that rate is fixed throughout the life of the loan.
The interest rate for the 2014-15 academic year is 6.21% for Unsubsidized Direct loans and 7.21% for Graduate PLUS loans, up from 5.41% and 6.41% (respectively) last year.
Learn more from Federal Student Aid >>
Smart Loan Borrowing
Be sure you're only borrowing what you absolutely need for the 2014-15 academic year! Before classes begin, we encourage you to utilize the Federal Student Aid Repayment Estimator to estimate your future monthly federal student loan payments under each repayment plan. By monitoring your borrowing while you're still in school, you can be sure there won't be any surprises at graduation!
If you realize you don't need all of the loan funds you've accepted and would like to reduce the amount you'll borrow this year, please contact us.
Upcoming Important Dates for Fall Quarter
- Friday, August 29th: Financial aid disbursement
- Tuesday, September 2nd: Financial aid refunds generated by the Bursar's Office
- Monday, September 8th: First day of classes
- Sunday, September 14th: Last day to add/drop classes at 100%