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Financial Aid Basics

“Financial aid” is a broad term that encompasses a variety of options, from gift aid that you don’t have to repay and loans that you do need to repay, to employment programs like work-study or assistantships. Review the types of aid and their requirements.

The types and amounts of aid you can receive are based on many factors, including your citizenship status, year in school, cost of attendance, and financial need. You must file a FAFSA application yearly to be considered for aid on an annual basis. Financial need calculation is Financial Need equals Cost of Attendance (COA) minus Expected Financial Contribution (EFC)/Student Aid Index (SAI) minus other financial assistance (OFA).

Financial Need = COA - EFC/SAI - OFA

Applying for and accepting financial assistance is a partnership between you, Federal Student Aid and DePaul. In order to continue to receive aid, you must Maintain Eligibility and Comply with Terms and Conditions of receiving financial aid.

Get started

You’ll automatically be considered for most types of aid when you complete the Free Application for Federal Student Aid (FAFSA). Apply for Aid lists all the steps to complete the application.

Pay close attention to Important Dates — many aid programs operate on a first-come, first-served basis.

We may need to ask you for more information once you have completed your application. We will contact you if this is the case, but you can also see any required to-do items on Campus Connect at any time.

Receive my financial aid offer

Once we have your application and any required documentation, our team begins the award process. We will notify you when we’ve determined your award offer. You can monitor your awards and your account through the student portal, Campus Connect.

In most cases, your aid will be credited to your account — a process called disbursement — at the start of each term. Learn more about how you’ll receive financial aid funds.

Keep my information safe

The Family Educational Rights and Privacy Act of 1974 (FERPA) covers the privacy of student records maintained by institutions such as DePaul. FERPA ensures that you can inspect your own records, correct any incorrect information, and determine what information, if any, that DePaul may release about you. Learn m​ore: Watch Financial Aid TV videos