Frequently Asked Questions

What are the steps to apply for Financial Aid?
Step 1: You need to complete the Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov. If you do not have a PIN number from the Department of Education, you must apply for one at www.pin.ed.gov prior to completing the FAFSA in order to sign your application online. You should receive the PIN number via email within 3 business days.
Step 2: You need to complete the Graduate Financial Aid form. The Graduate Financial Aid is located online on the Financial Aid Documents & Forms page. Look in the current year Forms Library.
Step 3: Once the Office of Financial Aid has received all documentation, they will review your file. New students will receive their award packet by mail, and returning students will be notified when their award is available to accept on BannerWeb.
If you are a first-time borrower at the University of Dallas, then you MUST complete the Master Promissory Note online. Instructions will be mailed with the award notification. The first term that Stafford Loans awarded, you must complete the Loan Counseling form also enclosed with the award letter.

What is the University of Dallas' federal school code for the FAFSA?
003651

Do I have to wait until I have earned admission at UD to apply for financial aid?
No, you may apply for financial aid before you have been offered admission but you will not receive a financial aid award letter until you have earned admission.

Should I still fill out the FAFSA, if I do not feel that I qualify for federal aid?
YES. Every student is eligible to receive some type of aid. There is no way of determining a student’s eligibility without completing the FAFSA. The FAFSA determines eligibility for programs offered by the federal and state government. Programs may include, state grants, if eligible and funding is available, and federal student loans (Stafford, Grad Plus, and Perkins. Perkins funding is subject to availability). In order to be considered for any federal and/or state program, it is in the best interest of the student to complete a FAFSA.

Do I have to reapply each year and will I receive the same amount of financial aid each year?
Eligibility for federal and state aid will be reevaluated each year. You will be required to complete a Renewal FAFSA each year so that eligibility for federal and state aid can be determined. Eligibility may change as information on the FAFSA changes from one year to the next.

Does the university consider special circumstances (i.e. loss of job, change of income, high medical expenses, and/or tuition paid at elementary and secondary institution)?
Yes. A student MUST first complete the FAFSA in order to be considered for a special circumstance request. The student must also complete a special circumstance form and submit all necessary documentation and return the form to the financial aid office. Without proper documentation, the special condition form will not be reviewed.

What does verification mean and what if I am selected? What documents are needed?
Verification means that a financial aid counselor must confirm that the information the student has submitted on the FAFSA coincides with the information on their taxes. A student must submit a signed copy of the student tax return, copies of W-2 forms, and a completed verification form to the Financial Aid Office.

How long does it take for the university to receive my FAFSA results?
If applying online, we will receive the results from your FAFSA in about 3-7 business days - during peak awarding periods. If applying using the paper application, we will receive the results in about 8-10 weeks. UD recommends use of the on-line application to reduce the overall processing time. (If you do not have a PIN number, then you must apply for it before processing the FAFSA. You should receive the PIN number via email within 3 business days.)

How long does it take the university to award financial aid?
Financial aid award letters will be sent out within 2 to 4 weeks of receiving all documentation. During peak season (January to May) the award letter could take up to 4 weeks. Also, during this peak season, the Financial Aid will begin mailing award letters on or after March 1.

What type of financial aid is available for graduate students?
Stafford Loans are low-interest, federally guaranteed loans for students. There are two types of Stafford loans: subsidized and unsubsidized. This should be the first loan type you consider should you need money for school, provided that you are enrolling in a minimum of 6 credit hours. Some of the benefits include: Provides flexible repayment options with terms of up to 10-25 years, and a variety of repayment options and offers borrowers attractive, low interest rates.
Grad PLUS Loans are federally sponsored loans for independent students attending graduate school. With a Graduate PLUS loan, you may borrow up to the full cost of your education, less other financial aid received. You must complete the FAFSA and be enrolled in a minimum of 6 credit hours to be eligible. This loan requires a credit check.

MBA Loans are private, credit based education loans. Sallie Mae will determine your eligibility and interest rate based on your (and your co-signer, if necessary) credit rating. You may apply for this loan if you are enrolled in less than 6 hours.

What is the difference between the Subsidized and Unsubsidized Stafford Loan?
The Subsidized Stafford loan is awarded to students who demonstrate financial need. The government pays the interest on this loan while the student is enrolled in school at least 1/2 time (6 credit hours). The government does not pay the interest on the Unsubsidized Stafford loan while the student is in school; rather it is the responsibility of the student. A student who is awarded an unsubsidized loan is given the choice to either make interest payments or defer the payments until he or she graduates, withdraws from school, or drops below 1/2 time status. In this instance, the interest will be added to the principle of the loan at repayment. There is a 6 month grace period before repayment begins.

How many hours do I have to be enrolled in to receive Federal financial aid?
You must be enrolled in a minimum of 6 credit hours during each term that you plan to receive financial aid.

What if I register for 3 hours in Fall I and 3 hours in the Fall intermester?
You will still be eligible for financial aid; however the funds will not be released from your lender until you have begun the class that meets the 6 hour requirement.

How do I access the loan money? The lender will release your loan funds 10 to 12 days after the beginning of the term. Within 3 business days, after it has been verified that you have completed all documentation and you are attending 6 credit hours, your loan funds will be released to your business office account. If there is a credit balance after your charges are paid, the business office will issue you a refund check within 10 business days.

How can I pay for books? If all financial aid documentation is complete, you may request a book voucher from the Business Office. This book voucher allows you to purchase your books through the UD Bookstore and charge it to your business office account. This would be paid when your financial aid funds are released to your business office account.

What happens if I am considering dropping a course?

It is the student’s responsibility to contact the Financial Aid Office to discuss the ramifications of dropping a class.

When do I apply for financial aid? You can apply for the academic year (Summer to Spring) beginning January 1. (Example: for students taking classes anytime within the Summer 2007 to Spring 2008 academic year, then you may start applying after January 1, 2007.) Priority deadlines for applying are March 1 for Summer; July 1 for Fall; and December 1 for Spring.

Is financial aid available for international students?

You must be a U.S. citizen or a permanent resident to apply for federal financial aid. If you do not hold this status, then you may apply for the MBA loan. However, you must have a U.S. citizen or permanent resident who would be willing to co-sign on a loan for you. Once the MBA loan has been approved please submit the Graduate School of Management Request for MBA Loan form to the Financial Aid Office.

How do I apply for a Grad Plus or MBA loan?
You will apply online with Sallie Mae. To access the application click on the gray OpenNet icon located on the UD Graduate Students webpage, http://www.udallas.edu/admiss/finaid/gradaid.cfm. You will then select the type of loan you are applying for and click apply now.

Does University of Dallas accept VA assistance for students? UD does not accept the Hinson-Hazlewood program. For other types of military assistance you should contact Joy McNabb in Student Records.

Are there any scholarships offered at the University of Dallas for graduate students? Yes, there are scholarships offered, but not through the Financial Aid Office. For more information, please see http://www.udallas.edu/gsm/fa/scholarships.cfm.

What if I have questions not listed here? Please contact your financial aid counselor, Christine Bassett, at 972-721-5266 or cbass@udallas.edu.