APPLYING FOR FINANCIAL AID
Financial aid for graduate students comes in many forms: federal student loans, alternative loans, scholarships and assistantships.
All federal student loans and some need-based federal scholarships and institutional awards require completion of the FAFSA. Alternative loans, academic scholarships and assistantships have separate application procedures and generally do not require the completion of a FAFSA.
To be considered for Federal Student Loans and/or other need-based financial aid:
- graduate students need to be admitted to a graduate degree or eligible graduate certificate program and be enrolled in that program at least half-time; and
- graduate students should complete the Free Application for Federal Student Aid (FAFSA).
Additionally, all students who apply for federal student aid must meet certain eligibility requirements, as described below:
- You must be admitted to and active in a degree program, or eligible certificate program
- You must be a U.S. citizen or eligible non-citizen;
- You must enroll in your program at least half-time. For graduate students this is at least a minimum of four credit hours per quarter. Classes must be taken for credit and must apply to your academic program; audited classes are not eligible for aid.
- You must maintain good academic standing and make academic progress in your course of study.
- You must not be in default on any federal loan or owe a repayment on any federal grant, and;
- You must comply with all federal regulations governing selective service registration and use of funds for educational purposes.
Completing the FAFSA
We recommend that graduate students complete the Free Application for Federal Student Aid (FAFSA) online. It takes three to five days for us to receive results from a FAFSA filed electronically, compared to about 5 weeks for one filed on paper.
The first step is to get a FAFSA PIN (personal identification number). A FAFSA PIN lets you apply, "sign" your online FAFSA, make changes to your application information, and more.
Next, collect the documents you need to complete the FAFSA; you'll find a full list at the FAFSA website, or in the instructions of the paper copy. If you haven't filed your taxes yet, you can estimate the tax information, file the FAFSA now and then make corrections after your taxes are filed. Be sure to include DePaul in the school section of the FAFSA and keep copies of all of your financial aid documents.
Your FAFSA result
The Federal Student Aid Processor will send you a Student Aid Report (SAR) at the same time we receive the results. To check on your FAFSA status, log on to the FAFSA website or call the U.S. Department of Education at (800) 433-3243.
Once you receive your SAR report, check it for accuracy and make any necessary corrections online. If you filed a paper FAFSA, send your corrected report to us and we'll electronically submit your changes to the U.S. Department of Education. Be sure to act promptly on any special instructions on your SAR. We will also email you if any additional action is required of you.
Your complete, correct SAR will contain your Expected Family Contribution (EFC). The EFC is a measure of your family's financial strength and indicates how much of your and your family's financial resources should be available to pay for your educational expenses. Your EFC is calculated by a formula established by the federal government.
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