When to Expect Your 2013-14 Financial Aid Award Letter
Wondering when you'll receive your financial aid award for the 2013-14 school year? Have you already applied? Do we have all of the documentation we need from you?
If you haven't applied for financial aid for 2013-14 yet, it's not too late! Apply as soon as possible by completing the CSS PROFILE and FAFSA.
Be sure you have also completed all of your financial aid requirements by logging into webCentral. Just go to the Student tab and review the "Financial Aid Requirements" box. Anything with a red flag next to it is still outstanding and must be submitted before we can create an award package for you.
We have already starting sending awards to new students, and we will start sending award offer emails in late May to current students who have completed all application requirements. These emails will be sent to your preferred address. Verify that you have the correct email address on file by going to the Student tab of webCentral and clicking on "Set Your Preferred Email Address."
Planning to take summer classes? Financial aid is available!
Undergraduate students enrolled in a DU degree program will receive a summer scholarship comparable to the amount of merit- and need-based aid received each quarter of the 2012-13 academic year. But you must submit the summer aid application to be eligible!
To apply for summer aid:
- Log into webCentral and go to the Student tab.
- Click on the "Apply for Summer Aid" link.
- Select the 2012-2013 Aid Year.
- Go to the Resources/Additional Information tab.
- Indicate how many credits you plan to take and submit.
We will use this information to create a summer aid package based on your 2012-13 financial aid award and summer enrollment plans, and will email you with your aid eligibility within 2-3 weeks of submitting your application.
Q: What does the priority deadline mean? What if I missed it?
A: The priority deadline for new students to apply for financial aid for 2013-14 was February 15th; for current students, the priority deadline was March 15th. So what exactly does that mean?
Applying for financial aid by the priority deadline increases your chances of receiving highly sought-after awards such as the Perkins loan and work-study. Because these types of aid have such limited funding, we are not able to offer them to everyone who may otherwise qualify. So, students who apply by these deadlines are given priority consideration for these awards.
If you missed the priority deadline, you should still apply as soon as possible! While you may miss out on the Perkins loan or work-study, the sooner you apply, the sooner you'll receive your financial aid award.
Financial Aid in the News
Impact of Sequestration on Federal Student Aid Programs
March 4, 2013
"Congress did not reach an agreement to reduce the FY2013 budget deficit on March 1, 2013. Accordingly, the automatic across-the-board budget cuts known as sequestration will become effective on March 27, 2013, cutting funding for some federal student aid programs for the remainder of the FY2013 budget year and 2013-14 award year.
...The US Department of Education is interpreting the Balanced Budget and Emergency Deficit Control Act of 1985 (BBEDCA)...as exempting the Pell Grant program from the automatic across-the-board cuts for 2013-14. The Pell Grant program is not, however, protected in subsequent years.
Other federal student financial aid programs will be cut by about 5%.
...The loan fees for Federal Direct Stafford loans will increase from 1.0% to 1.051% and the loan fees for the Federal Direct PLUS loan (including both Parent PLUS and Grad PLUS loans) will increase from 4.0% to 4.204%. These increases apply only to loans that are first disbursed after the sequester takes effect."
Read the full article from Fastweb or learn more from StudentAid.gov.