Financial Aid 101
Understanding Grants, Scholarships, Loans and Other Financial Aid Terms
The Undergraduate Financial Aid Process at Duquesne
- After you apply for admission to the University it is important to apply for financial aid using the Free Application for Federal Student Aid (FAFSA). Your financial situation will be evaluated and you will be considered for any aid that you qualify for. You should also apply for any state grants along with the FAFSA - you may be eligible for Duquesne's supplement to the PA State Grant.
- You will be evaluated for academic-based scholarships based on your transcripts.
- Any academic-based and need-based aid that you qualify for and would receive will be outlined in your award letter.
- Parents or students may need to apply for personal loans with outside lending institutions or banks to bridge the gap between the financial aid package and the cost of education.
Financial Aid Terms
Financial Aid - Covers any forms of financial assistance you receive to help you pay for your education. These include:
- Grants: A grant is a gift. It does not have to be repaid and it is based on the student's financial need.
- Loans: Loans are funds borrowed by the student and/or parent. In most cases, loans must be repaid with an interest charge and have a time limit for repayment.
- Scholarships: An academic scholarship is an achievement award – based on your academic record – which is awarded once by the Admissions Office during the admissions process.
- Work-Study: Work-Study is an on-campus job approved by Financial Aid and Human Resources, often as part of a financial aid package.
Student Aid Report: The Student Aid Report, or SAR, is generated from the information you submit on your FAFSA. A copy is sent to you and to the colleges that you request through your FAFSA. It will also contain your Expected Family Contribution, which is the number that's used to determine your eligibility for federal student aid.
Expected Family Contribution: The number that's used to determine your eligibility for federal student financial aid. This number results from the financial information you provided in your FAFSA application. Your EFC is reported to you on your Student Aid Report (SAR)
Award Letter: A letter from Duquesne that lists all eligible academic and need-based financial aid that is being offered to a student.
Catholic High School Student Scholarship This is a refund of a percentage of basic tuition costs for high school graduates from participating Duquesne or Catholic-affiliated institutions.
Entrance and Exit Interviews: Student loan recipients must complete entrance and exit interviews once at the beginning and end of their college career respectively. These online interviews consist of a series of questions and answers that explain the responsibilities and consequences of loan repayment and default. Failure to complete these requirements can result in a hold on loan disbursements and/or student records.
FAFSA: Free Application for Federal Student Aid.
You must submit a FAFSA each academic year. As a PA resident, you can also apply for the PA State Grant.
Financial Aid for Graduate & Non-traditional Students
This is a paper application required for students who will attend on a part-time basis. It is required for graduate students (excluding law students), and adult undergraduate students.