The Financial Aid Department at DuVall’s consists of knowledgeable, qualified staff to work with you throughout the enrollment process to develop your personalized financial plan. A financial plan may consist of cash payments, private funding sources, agency payments, Federal Student Aid, scholarships or other sources of funding that a student may be available to a student. You may expect to meet with a member of the Financial Aid Department multiple times throughout your enrollment as well as during the initial application process.
What is Financial Aid?
Financial Aid is available to those who qualify. Financial aid is any type of financial assistance provided to help you with educational expenses. Over $154 billion is awarded each year to undergraduate students across the country.
Federal Pell Grant
Eligibility for the Pell Grant is determined by a student’s/family’s information as reported on the Free Application for Federal Student Aid (FAFSA)
Direct Loan Program
The government manages this program, allowing students to borrow at fixed rates, making repayment easier for students and parents. This is a type of LOAN and therefore must be repaid. There are two types of Loans under this program; Subsidized and Unsubsidized
Subsidized Loans- A subsidized student loan is one on which the government actually pays the interest while a student remains enrolled in a qualified college or university. This means that any interest that would have been added to a subsidized loan balance is essentially erased by the government.
Unsubsidized Loans- Unlike a subsidized loan, an unsubsidized student loan has interest added to the balance even while a student is still enrolled in school. This means that a student's balance will likely be significantly more than what they initially borrowed by the time the graduate.
Federal PLUS Loan (parent loan)
If you are a dependent undergraduate student and your parents have an acceptable credit history, they can take out a PLUS Loan which allows them to borrow up to a student’s cost of attendance to cover your educational related expenses. However if your parent is declined for this type of loan you (dependent students ONLY) could qualify for additional loans under the Direct Loan Program
Scholarships are free money that is offered to students who meet a set of eligibility criteria. Guidance regarding where to look for scholarships may be obtained from the Financial Aid staff. A few tips regarding scholarship searches include:
Read eligibility requirements first. If it matches your situation, continue, if not move on to the next one. Special interest group eligibility may include age, sex, ethnicity, type of degree, and many other criteria.
Never pay to apply for scholarships. Scholarships are FREE and the organizations want to give them away, they do not charge an application fee.
Pay attention to detail and follow the instructions carefully. Applications that are received that do not comply with the guidelines are usually discarded.
Always apply twice!!! There will be an application deadline. When you complete the application, make note of the deadline on your calendar and reapply for the next year’s scholarship.