Fall Financial Aid Update
In this update:
Your DU tuition bill is due on August 4th. On that date, your financial aid for fall semester 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:
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, August 8th. If you have direct deposit, you can expect to see that refund in your bank account on August 9th.
Did you know you can calculate your estimated refund through PioneerWeb? Click on the "Student Account by Term" link on the Law Student tab, then subtract your total "Term Credits and Payments" from "Term Charges." If the result is a negative number, you'll receive that amount in a refund.
At the end of the 100% add/drop period each semester, 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 semester is Monday, August 28th. On 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 semester than indicated above 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 to 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).
If your actual enrollment is different than what's listed above, please submit an Enrollment Adjustment Form so we can make the appropriate changes to your cost of attendance and, if needed, your financial aid.
The Bipartisan Student Loan Certainty Act of 2013 ties federal student loan interest rates to the financial markets. Under the Act, interest rates are determined each spring for new loans being made for the upcoming award year. Each loan has a fixed interest rate for the life of the loan.
Interest rates for loans first disbursed between July 1, 2017 and July 1, 2018 will be slightly higher than those first disbursed during the 2016-17 aid year. For Direct Unsubsidized loans, the interest rate will be 6.00% (up from 5.31%); for Graduate PLUS loans, the interest rate will be 7.00% (up from 6.31%).
Be sure you're only borrowing what you absolutely need for the 2017-18 academic year! Before classes begin, we encourage you to utilize the Estimated Billing Worksheet to help you determine what you will owe DU each semester (this worksheet works best when opened in Internet Explorer). Then, use 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 law 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.