In this update:
- Fall Quarter Disbursement of Aid and Refunds
- Student Loan Interest Rate Changes
- Smart Loan Borrowing
- Office Hours on Labor Day
- 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 classes (learn about enrollment requirements),
- 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.
An important note for new students:
Because incoming undergraduates do not register for classes until Discoveries Orientation, billing and disbursement of aid occurs later than current students. If you are a new student, your fall quarter bill will be generated by the Bursar's office after you have registered for classes during orientation, and the due date for that bill will be September 19th. Once you are officially enrolled in classes, your financial aid will disburse to your DU student account and will pay toward the bill. Any refund you are expecting will be generated within 2-3 business days later.
Learn more about billing and disbursement >>
Student Loan Interest 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 4.66% for Subsidized/Unsubsidized Direct loans and 7.21% for Parent PLUS loans, up from 3.86% and 5.41% (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.
Office Hours on Labor Day
Although the University of Denver is closed on Monday, September 1st to observe the Labor Day holiday, we will be open from 10:00 a.m. - 3:00 p.m. Have a question about your financial aid? Call us or stop by University Hall during those hours. We'll be happy to help you!
Upcoming Important Dates for Fall Quarter
- Friday, August 29th: Financial aid disbursement for continuing students
- Tuesday, September 2nd: Financial aid refunds generated by the Bursar's Office for continuing students
- Monday, September 8th: First day of classes
- Friday, September 19th: Fall quarter bill due date for new students
- Sunday, September 14th: Last day to add/drop classes at 100%