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Financial Aid
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STUDENT
LOANS
The University participates in
several loan programs that 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. A separate application process
for each loan exists and must be completed by the student
wishing to receive the loan.
Students who receive federal
loans are required to attend an 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 in their last semester at DBU can schedule the exit
counseling session during the Patriot Salute or individually
at the Office of Financial Aid.
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, year in school, and availability
of funds. To receive the Perkins loan, the student must exhibit
exceptional need, which at DBU is defined as financial need
greater than one-half the cost of attendance.
The Perkins Loan is 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.
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 post-baccalaureate and graduate
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
pays the interest on the loan while the student maintains
an eligible enrollment in school.
The student is 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 or fixed rate
according to when loan funds are borrowed. A portion of the loan amount may be 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.
Electronic Funds Transfer
DBU participates in Electronic Funds Transfer (EFT) with most
lenders. This timesaving 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, 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.
Hinson Hazelwood College Access Loan (CAL)
A state variable or fixed rate loan program. Informatio and application available online at www.hhloans.com.
Minnie Stevens Piper Foundation
Student Loan Program
Educational loans are available to Graduate/Professional students
who are residents of Texas and enrolled full time. Loans cannot
exceed $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
Alternative Educational Loans
Most student loan programs require a minimum half-time enrollment
status (4.5 hours or more graduate level, 6 hours or more
post-baccalaureate level) 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.
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