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Paying for college is not always an easy task.
Here are a few resources and tips to help you navigate
the process!
Smart Tips in Student Aid
Understand your tuition structure: If you are attending part-time,
be sure to maximize your tuition and external resources. Try not to use more
loan than you need and remember that grant programs prorate if you enroll for fewer
than 16 hours. If you are paying a package tuition rate, try to enroll to take advantage
of 16 credit hours in the package rate. Remember that even in the full-time package rate,
some financial aid programs prorate payment if enrollment is less than 16 hours.
Don’t withdraw from courses: Withdrawing from courses prolongs your education
and increases the cost of education by potentially thousands of dollars when lost tuition
and delayed graduation are factored into the total cost of your education. Don’t withdraw
or drop courses if you can possibly avoid it.
Maintain at least half-time enrollment: If you are borrowing federal loans,
you will need to maintain at least half-time enrollment to maintain your deferment status.
Remember that you need to make steady academic progress to remain eligible for student
financial aid. Read the academic progress requirements for financial aid recipients
on DePaul’s Financial Aid website.
Don’t borrow more than you need for school: Remember that borrowing a student loan for
tuition, fees and books is an investment in your future and a good choice. Borrowing
for consumer goods may not be a good choice. Borrow only what you need!
Build a reasonable budget and stay within it: Remember again that student
loan debt accumulates rapidly, and while school expenses are a good thing for which to take a
loan, you don’t want to borrow more than you need while in school. Too much debt
can limit your choices after graduation, so keep your borrowing to a minimum now.
Pay attention to the differences among student loans: Know the difference between
a subsidized and unsubsidized federal loan, and do your homework if you decide to pursue
a private educational loan. If a private loan rate seems too good to be true, it probably
is. Check with the Financial Aid Office for recommended reputable private educational lenders.
Don’t be afraid to ask questions: If there is anything you don’t understand, ask!
Take the time to meet with your academic advisor early and often in your program: Make
sure that you understand your program requirements and the sequence of courses.
A sound academic plan is the cornerstone of good educational financing.
Pay attention to deadlines. Many aspects of student aid and the educational process
have deadlines and critical timelines.
Keep your email current and read what is sent to you.
Monitor your student aid online: Keep your logon current and regularly visit your
CampusConnect To-do list. Get to know your Direct Loan account online at www.ed.gov/DirectLoan
and monitor all your student loan borrowing at www.nslds.ed.gov
File your financial aid early each year! The financial aid process begins January 1
for the following academic year. File your FAFSA as soon after January 1 as possible.
*Courtesy of the Office of Financial Aid
Financial Resources for Adult College Students*
• 501 Ways For Adult Students To Pay For College, Gen and
Kelly Tanabe
• Adult and Non-Traditional Scholarships That Totally Rock!,
Ben Kaplan
• The Scholarship Scouting Report: An Insider's Guide to
America's Best Scholarships, Ben Kaplan
• Financing Your College Degree: A Guide to Adult Students,
David Finney
• You Can Do It: A Guide for the Adult Learner and Anyone Going
Back to School Mid-Career, Harry G. Turner
*Many of these resources are available in the Adult Student Center (DePaul Center 11017).
Scholarships and Fellowships
There are a number of ways to pay for college! Scholarships and fellowships are the most
desirable type of financial support. The following resources will help assist you
in the process of securing the right scholarship or fellowship for you!
• Coveted College Scholarships and Fellowships
• Fastweb
• Scholarships for Re-entry Students
• Mach25
• Sallie Mae’s College Answer
• Scholarship Resource Network Express
• The Princeton Review Scholarship Search
• Cornell Graduate Fellowship Database
• Student Awards.com
• Supercollege.com
• Financial Aid Strategies for Non-Traditional Students, Part I
• Financial Aid Strategies for Non-Traditional Students, Part II
• Financial Aid Strategies for Non-Traditional Students, Part III
• Hispanic Scholarship Fund link
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