Financial Aid at Duquesne University

Office of Admissions Duquesne University 600 Forbes Avenue Pittsburgh, PA 15282 DUQUESNE UNIVERSITY UNDERGRADUATE EDUCATION FINANCING YOUR 2014-15 TABLE OF CONTENTS

Letter from Duquesne University’s President...... 2

Financial Aid Overview...... 3

Key Types of Financial Aid...... 4

Applying for Financial Aid...... 6

Other Options to Consider...... 9

Financial Aid for Transfer Students...... 10

Cost of Attending Duquesne University...... 10

Financing Worksheet...... 11

Thank you for your interest in Duquesne The rising cost of higher education has gained much media attention in University. We know that, as you finalize your recent years. Students and parents everywhere are continually seeking plans to pursue a college education, this is a information and resources to help finance a college education. We hope very exciting time of your life. As a student at this booklet will provide you with the information that you need. Duquesne University, you will have much to look forward to in the form of academics, ■ You Are Not Alone social relationships and activities, and preparing for your future. The financial aid process and the task profession to return campus visits as a of financing an education are new to successful Duquesne graduate. many people, and like anything new, Although the cost of a college Facing new experiences and new challenges they can be challenging. If there is one education involves a significant is part of any college education, and at Duquesne, you and your thing we would like you to understand financial commitment, you can better family will have support along the way. In today’s world, an in this booklet, it is that you are not appreciate and understand its value investment in your college education is potentially the best alone in this process. Please know that when it is viewed as a long-term investment you can make. Still, we recognize the challenges and we are here to assist you in navigating investment. sacrifices your family must make in order for your educational the process and identifying sources of dreams to become reality. education financing. ■ A Partnership Many students and parents must look ■ Please know that there are financial resources and programs An Investment beyond their own resources to finance a available to help make Duquesne University more affordable. We A college education can be one of the college education. At Duquesne, we hope that you will read this guide, learn about these opportunities largest financial commitments anyone view education financing as a and take advantage of them with the understanding that a college can make next to the purchase of a partnership that involves a student, education can be affordable when you approach it as a partnership home. Just as a home’s value increases family, the University, federal and state involving you, your family and the University, as well as federal and over time, the value of a Duquesne agencies, and other organizations. When state student financial aid programs. education also increases over time, from all available resources are considered, a the first step into the classroom to private college education is affordable. graduation day to success in your Duquesne University is a special place. We invite you to become a part of our family.

Charles J. Dougherty, Ph.D. President

2 3 KEY TYPES OF FINANCIAL AID

■ Academic-Based Scholarships Duquesne University Academic Scholarship Pennsylvania State Grant (PHEAA) – – Award is based exclusively on academic A need-based grant awarded to eligible achievement; amount varies based on Pennsylvania residents who complete the program of study, cumulative high school FAFSA and meet the requirements of the GPA and standardized test scores. A 2.0 PHEAA state grant program. Last year, the cumulative GPA is required for renewal. full-time PHEAA Grant ranged from approximately $500 to $4,362. Laval Scholarship – Minority award based exclusively on academic achievement is Other State Grants – States with equal to $6,500 and requires a 2.0 reciprocal state grant programs include cumulative GPA for renewal. Ohio, West Virginia, Rhode Island, ■ Need-Based Loans Massachusetts, Maryland and Federal Perkins Loan – A need-based loan Health Professions Loan – A need-based loan ■ Need-Based Grants Connecticut. made possible by the University. The made by the University to full-time Federal Pell Grant – A need-based grant Perkins Loan program requires the student dependent Doctor of Pharmacy students offered by the federal government to Duquesne University Grants – borrower to repay this loan with interest. (3rd – 5th year). This loan carries the same eligible undergraduate students who A need-based grant offered to full-time There is zero interest while the student is terms as the Federal Perkins Loan described complete the FAFSA. In the previous undergraduate students who meet enrolled at least half-time in a degree- at left. The maximum amount is $2,500. You academic year, Pell Grant awards ranged need-based eligibility requirements. seeking program and during a nine- will automatically be considered for the loan from $602 to $5,645. Minimum 2.0 cumulative GPA required month grace period before repayment program if you apply for need-based for renewal. In the most recent academic begins. Interest rate during repayment is financial aid. Federal Supplemental Education year, Duquesne Grant awards ranged 5 percent, and the repayment period is 10 Opportunity Grant (SEOG) – A need-based from $200 to $4,000. years. There are no loan fees, and the Subsidized Federal Stafford Loan – A need- grant awarded to students with exceptional maximum amount awarded is $2,000. based loan through the federal government financial need. that requires the student borrower to repay it Please note that available Perkins Loan with interest following enrollment. A funds are limited. You will automatically be “subsidized” loan refers to the interest subsidy considered for this loan program if you paid by the federal government to the lender apply for need-based financial aid. while the student is enrolled. Loans for 2014– 15 have a fixed rate of 4.66 percent, and the Nursing Loan – A need-based loan made loan fee is 1.072 percent. The principal of the by the University to full-time, dependent loan is deferred as long as the student is freshman nursing students. This loan enrolled at least half-time in a degree-seeking carries the same terms as the Federal program. Current annual borrowing limits: Perkins Loan described above. The $3,500 freshmen; $4,500 sophomores; and maximum is $2,500. You will automatically $5,500 for juniors and seniors. Maximum be considered for the loan program if you aggregate borrowing limit is $31,000 for an apply for need-based financial aid. undergraduate dependent student.

4 5 HOW TO APPLY FOR FINANCIAL AID

■ Academic-Based Scholarships ■ Need-Based Financial Aid (Grants, Loans and Student Employment) Duquesne University is pleased to offer academic-based scholarship opportunities to In addition to academic-based scholarships, Duquesne University also offers need-based eligible students. As a part of the admissions process, students are evaluated for financial aid opportunities (grants, loans and student employment) to eligible applicants. academic scholarships, and any eligibility is communicated to them with their An annual FAFSA is required, as is the timely response to requests for additional information acceptance notification. such as verification of taxable and untaxed income. Please note the following procedure to apply for need-based financial aid:

• Academic scholarships are awarded • Students must maintain a minimum ■ to applicants during the admission cumulative grade point average for Complete the Free Application process. renewal in future years (2.0 GPA for Federal Student Aid (FAFSA) • Awards are renewable for a for most awards). • Available online at www.fafsa.ed.gov maximum of eight semesters (with • Amount of scholarship is determined • Duquesne’s Federal School Code the exception of Pharmacy, which is at time of admission and remains is 003258 10 semesters). constant. • Apply between January 1 and May 1 for priority aid consideration* • Necessary for need-based financial aid • If selected for verification, please respond promptly to requests for additional information • Failure to respond to requests for additional information can affect eligibility for financial aid opportunities

*We recommend that prospective students apply for need-based financial aid as early as possible after receipt of tax information in January so that a financial aid package can be completed before the 6 May 1 admission deposit deadline. 7 ■ Non Need-Based Loans ■ Outside Scholarships Unsubsidized Federal Stafford Loan – The academic year amount of the loans cannot Some companies and religious and added to their financial aid package and terms and conditions of the Unsubsidized exceed the limits by academic class levels as community organizations award adjustments can be made to need-based Stafford Loan are the same as those of the previously listed. scholarships to deserving students. aid, if necessary. Subsidized Federal Stafford Loan, but with Scholarship and selection information several exceptions. Interest on this loan is Federal PLUS Loan (Parent Loan) – The can be obtained by contacting these For Information on Outside Scholarships: not subsidized by the federal government, PLUS Loan provides a borrowing option for organizations directly. There are also • The SmartStudent Guide to and, therefore, it is the responsibility of the parents of dependent undergraduate websites that can facilitate scholarship Financial Aid searches. Caution is advised, however, student borrower. In 2014–15 the interest students. Parents may borrow any amount www.finaid.org up to the cost of attendance minus the when using fee-based scholarship rate for undergraduates is fixed at 4.66 • The College Board amount of any financial aid received. searches. percent, and the interest begins to accrue www.collegeboard.com after disbursement of loan funds. Students Approval of the loan is based upon a Students who receive outside scholar- may choose to defer interest while in school parent’s credit worthiness. In 2014–15 the • FastWeb ships must notify the Financial Aid and later capitalize interest (add it to the interest rate is fixed at 7.21 percent. Loans www.fastweb.com Office so that these scholarships can be principal) at the time repayment begins. include a 4.288 percent origination fee.

All students are eligible for additional ■ Alternative Loans unsubsidized Stafford Loans of $2,000 per Duquesne University strongly urges OTHER FINANCIAL OPTIONS academic year. students to apply for Stafford Loans and parents of students to apply for PLUS Loans TO CONSIDER Additional Unsubsidized Stafford Loan before resorting to alternative loans. ■ Duquesne Monthly ■ Federal Work-Study funds are available to independent However, alternative loans may be an Payment Plan The Federal Work-Study program undergraduates and dependent students effective method of financing unmet The University offers five- and 12-month provides excellent part-time employment whose parents have been denied a Federal costs of education for some students. payment plans through Nelnet, a third- opportunities to eligible students. PLUS Loan (additional amounts: $4,000 The University recommends that students party vendor, which is administered per academic year for freshmen and • Students are assisted with job placement apply with co-signers to secure the best through the Duquesne Student Accounts sophomores, $5,000 per academic year for by the Student Employment Office of possible interest rates. Office. juniors and seniors). Some students may Human Resources. qualify for a combination of Subsidized and For Information on Education Lenders: • Annual enrollment fee is $125 for • Federal Work-Study is considered Unsubsidized Stafford Loans. The total 12-month plan, $75 for a semester plan. financial aid and is therefore a part of • http://pennsylvania.privateloanmarket the student’s financial aid package. place.com/duquesne/ • Amount of payment plan is estimated by parent. • Students are paid biweekly. Their pay is Example: Directly billed charges (tuition, determined by the rate of pay and the fees, room, board) less financial aid = number of hours worked. Payment Plan amount. • Students receive a paycheck (or direct • Monthly payments are sent to Nelnet deposit into a checking account). • Nelnet phone number is Federal Work-Study is not directly 1-800-609-8056 credited to the Student Account. • To enroll, visit: 8 www.duq.edu/student-accounts 9 FINANCING WORKSHEET FOR ACADEMIC YEAR

Please use the following worksheet to help estimate the amount of education TRANSFER COST OF financing required.

STUDENT ATTENDANCE BILLED COSTS – (FINANCIAL AID + DEPOSIT) = (ESTIMATED) BALANCE DUE FINANCIAL AID The following example illustrates the average annual cost of attendance for a Tuition ______INFORMATION Duquesne University student enrolled in our Business, Education, Liberal Arts, Fees ______Transfer students interested in applying Natural/Environmental Science, for financial aid should follow our Biomedical Engineering or Nursing Room and Board ______standard application procedures and degree programs: deadlines (as outlined on page 6 of this BILLED COSTS: ______booklet) for the academic year Estimated Cost of Attendance beginning in the fall semester. Spring 2014-2015 semester transfer students should Tuition 30,070 submit the financial aid application Academic Scholarship ______Fees 2,566 materials by December 1. Room and Board 11,084 Duquesne Grant ______In addition, students must update their Personal* 750 Free Application for Federal Student Aid Transportation* 800 Federal Pell Grant ______(FAFSA) to include Duquesne University Books* 1,000 (Federal School Code: 003258). Total $46,270 State Grant ______

*Actual costs can vary based upon individual Transfer students are eligible to receive circumstances. Annual increases in the cost of a Perkins Loan ______similar financial aid opportunities Duquesne education are anticipated. available to other Duquesne students, Stafford Loan ______Tuition varies by program: including academic-based scholarships, Pre-Professional Pharmacy $35,047 need-based financial aid and non need- Doctor of Pharmacy Other Aid ______based aid opportunities. Traditional Day Pathway (Years 3-6) $1,191 per credit Work-study does not apply. Music $37,256 Health Science $35,047 Enrollment Deposit ______$500; freshmen only

FINANCIAL AID AND DEPOSITS: ______

(ESTIMATED) BALANCE DUE: ______

This balance can be financed by cash, savings, a payment plan, Federal PLUS Loan or alternative loans.

10 11 CONTACT US

For additional information on the financial aid programs and services offered through Duquesne University, please contact us:

■ OFFICE OF ADMISSIONS ■ STUDENT ACCOUNTS OFFICE (Academic Scholarship Questions) (Payment Plans and Billing Questions) Administration Building Administration Building 600 Forbes Avenue 600 Forbes Avenue Pittsburgh, PA 15282 Pittsburgh, PA 15282 Phone: 412.396.6222 Phone: 412.396.6585 Toll-Free: 1.800.456.0590 Fax: 412.396.5958 Email: [email protected] www.duq.edu/student-accounts www.duq.edu/admissions ■ NELNET ■ FINANCIAL AID OFFICE NELNET Business Solutions (Need-Based Financial Aid Questions) 1425 East Busch Parkway Administration Building Buffalo Grove, IL 60089 600 Forbes Avenue Toll-Free: 1.800.609.8056 Pittsburgh, PA 15282 www.duq.edu/financial-aid Phone: 412.396.6607 Fax: 412.396.5284 Email: [email protected] www.duq.edu/financial-aid

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