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Financial
Aid
Student Loans
Home
> Financial
Aid
> Student Loans
< Alternative Educational
Loans
< Loan Disbursement
< Federal Parent Loan for Undergraduate
Students (PLUS)
< Federal Graduate (PLUS)
< Federal Perkins Loan Program
< Federal Stafford Loan Program
< Minnie Stevens Piper Foundation
Student Loan Program
The University participates in several loan
programs which offer help to students who need additional
financial assistance. The purpose of all loan programs is
to assist students unable to obtain sufficient support from
other sources. Student loans must be repaid. Therefore, students
are highly encouraged to borrow only what they need to cover
direct educational expenses.
In order to qualify for assistance under any of the loan programs,
the student must complete the Free
Application for Federal Student Aid (FAFSA) and the
DBU Supplemental Application for Financial Aid and Scholarships
for the appropriate academic year. These forms are available
from the Office of Financial Aid and online.
Students who receive federal loans are required to complete
an online entrance counseling session before the loan application
process can be completed. Students must also attend an exit
counseling session upon their graduation or withdrawal from
the University. This exit counseling session is required by
federal regulation and should be completed within 30 days
of graduation or upon withdrawal from the University. Students awarded loans must go online and follow the "Loans by Web" link to confirm their federal loan.
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Alternative
Educational Loans
Most student loan programs require a minimum of six hours
or half-time enrollment status to be eligible to apply for
assistance. Some private lenders offer alternative educational
loans for less than half-time enrollment. For more information,
contact the Office of Financial Aid. Students are required to complete the FAFSA and DBU Supplemental to determine eligibility for federal loans before securing higher interest private loans.
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Loan
Disbursement
DBU participates in Electronic Funds Transfer (EFT). This
time-saving process is much more efficient because it eliminates
paper checks.
Loan
funds are normally disbursed to students twice per loan period.
If the student's loan period consists of the fall and spring
semesters, one disbursement will be made in the fall and one
in the spring, each equal disbursement being applied to the
student's account approximately one week after the add/drop
period ends for that semester. If the loan period is one semester
only (example, summer), the first disbursement will be made
early in the semester (after the add/drop period ends), and
the second disbursement after the mid-point in the semester.
Students who are completing their degrees
and will be attending only a portion of the academic year
will have their loan amounts adjusted (lowered), or "prorated,"
according to federal regulations. Contact the Office of Financial
Aid for more information.
NOTE: Federal regulations require that the
first disbursement for new Stafford Loan borrowers be delayed
until thirty days after the start of class. New students at
DBU should be aware that this may cause a delay in the issuance
of refunds by the Business Office. This delay does not affect
continuing borrowers or second disbursements later in the
year.
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Federal Parent
Loan for Undergraduate Students (PLUS)
Parents may borrow for their dependent undergraduate students
under the Federal Parent Loan for Undergraduate Students program
(PLUS). The amount borrowed may be up to the cost of attendance
minus other financial aid for each undergraduate student.
The interest rate is a variable rate, adjusted annually. Repayment
begins within thirty days after the final disbursement of
the loan each year. The lender will charge an origination
and insurance fee for a PLUS Loan, which will be deducted
from the loan proceeds.
To be eligible, parents
and students must not currently be in default on any Federal
Student Loan nor owe a refund on any federal grant. The parent's
credit history is evaluated by the lender prior to disbursement
of the loan. If the PLUS Loan is denied to the parents, the
student may then be eligible to borrow additional funds under
the Federal Unsubsidized Stafford Loan program. Additional
information about the Federal PLUS Loan are available from
the Office of Financial Aid.
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Federal Graduate (PLUS)
Graduate students who have exhausted the Stafford Loan eligibility may apply for a Graduate PLUS Loan up to the cost of attendance.
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Federal
Perkins Loan Program
The Federal Perkins Loan program provides long-term, low interest
loans for students who qualify. The amounts awarded vary,
depending on financial need and availability of funds.
The Perkins loan will be awarded to eligible students as long
as funds are available each year. The terms and conditions
of the Federal Perkins Loan are outlined in the Promissory
Note, which is available from the Office of Financial Aid.
Indebtedness under the Federal Perkins Loan Program may be
fully or partially canceled for students who meet certain
conditions. Check the Financial Aid Student Guide for
more information.
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Federal Stafford
Loan Program
The Federal Stafford Loan program consists of two types of
loans: the Federal Subsidized Stafford Loan and the Federal
Unsubsidized Stafford Loan. These loans are secured from a
private lender such as a bank, credit union, savings and loan
association, or insurance agency. DBU does not currently participate
in the Federal Direct Loan Programs.
Loan eligibility varies depending on the student's year in
school and dependency status. Federal Stafford Loans are available
to undergraduate and graduate students and dependent and independent
students. Please consult the Financial Aid Student Guide
for specific information on eligibility and amounts available.
The student must meet certain income requirements (as determined
from the FAFSA) to qualify for a subsidized loan. "Subsidized"
means that the government will pay the interest on the loan
while the student maintains an eligible enrollment in school.
The student will be responsible for repaying the loan and
interest after enrollment ends. The government does not pay
the interest on an unsubsidized loan. The borrower is responsible
for all interest that is charged on the loan even while in
school.
The interest rate under the Federal Stafford
Loan program is a variable rate that adjusts annually. A portion
of the loan amount is kept by the lender to cover origination
and loan insurance fees. See the Financial Aid Student
Guide for more information, including repayment terms,
deferment options, consolidation, origination and insurance
fees, and other details.
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Minnie Stevens
Piper Foundation Student Loan Program
Educational loans are available to Junior, Senior, or Graduate/Professional
students who are residents of Texas and enrolled full time.
Loans cannot exceed $2000 per year for undergraduate students
or $4000 per year for graduate/professional students. This
is a private loan with an interest rate of six percent and
must be repaid within four years after repayment begins. Please
contact the Minnie Stevens Piper Foundation for loan application
forms and more information. The foundation address is:
Minnie Stevens Piper Foundation
800 NW Loop 410, STE 200
San Antonio, TX 78216-5699
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