Financial Aid Office

Dominican’s financial aid program provides assistance to students whose family resources cannot meet the cost of education. Eligibility for financial aid must be established each year by submitting the Free Application for Federal Student Aid (FAFSA). Returning undergraduate students preferred filing date for the FAFSA is February 1 for the subsequent school year. Students who have questions or concerns about financial aid are encouraged to contact this office. Detailed information is available on the financial aid resources section on the My DU website.

Financial Aid Terminology

Financial Need

Most financial aid is awarded on the basis of financial need. Financial need is the difference between your total cost of education and an amount you and your family are expected to contribute toward the cost.

Expected Family Contribution

An objective, nationally recognized method of need analysis developed by the federal government is used to determine the expected family contribution from the information reported on the FAFSA. Factors such as income, assets, family size, number in college, taxes and other expenses are taken into account in estimating the family’s financial strength.

Cost of Education

Your aid eligibility is calculated based on your total cost of education, which includes direct expenses (tuition and on-campus room and board) and indirect expenses (books and supplies, transportation, and other personal and living expenses).

Financial Aid Programs

Dominican University participates in federal and state aid programs and provides a substantial amount of institutional grant and scholarship aid to students in the Rosary College of Arts and Sciences. Federal aid programs include: Federal Pell Grant, Federal Supplemental Educational Opportunity Grants (SEOG), Federal Work-Study (FWS), Federal Direct Stafford Loan and the Federal Direct PLUS Loan Program. The Illinois Student Assistance Commission (ISAC) provides state grant assistance (Monetary Award Program) MAP to students from Illinois who demonstrate need and meet the state FASFA filing deadline. Dominican offers institutional Grants, Family Allowances, and on-campus institutional student employment program, and various scholarship programs. Some financial aid is available only to full-time students (12 or more credits per semester).

Financial Aid Disbursement

For most aid programs including Federal and state grants, the amount you have been awarded for a semester will be credited to your account by the business office after the start of the semester. The ISAC funds (MAP) are credited at the time we receive payment from ISAC. Federal Stafford Loan funds are credited directly to the student’s account.

Revisions

According to federal regulations a financial aid package may have to be revised if additional aid is received. Changes in enrollment and/or housing may also result in a revision.

Refunds

Funds remaining in your account after all charges have been paid will be refunded. Refunds will be processed by student accounts after add/drop date and are based upon funds actually received and credited to your account. The schedule for tuition refunds based on withdrawal from courses is published in the Bulletin.

Change in Circumstances

You are required to notify the financial aid office, in writing, of any changes in your financial, enrollment, residence, or marital status. Any changes in your or your parents’ circumstances may result in an adjustment in your financial aid.

Satisfactory Academic Progress

Students who do not continue to make satisfactory academic progress toward their degree risk losing their financial aid. All students must comply with the federally mandated satisfactory academic progress policy outlined in the Dominican University Bulletin and on the University website.

Questions, Concerns, Appeals

If you have questions about your financial aid award, we hope you will take advantage of the help provided by the financial aid office. Please call (708) 524-6809 or email finaid@dom.edu.

Treatment of Title IV Aid When a Student Withdraws

The law specifies how Dominican University must determine the amount of Title IV program assistance that you earn if you withdraw from school. The Title IV programs that are covered by this law are: Federal Pell Grants, Federal Supplemental Educational Opportunity Grants (FSEOGs), Federal Direct Stafford Loans, and Federal PLUS Loans.

When you withdraw during a term (your payment period) the amount of Title IV program assistance that you have earned up to that point is determined by a specific formula. If you received (or Dominican or a parent received on your behalf) less assistance than the amount that you earned, you may be able to receive those additional funds. If you received more assistance than you earned, the excess funds must be returned by Dominican University and/or you.

The amount of assistance that you have earned is determined on a pro-rata basis. For example, if you completed 30 percent of your payment period, you earn 30 percent of the assistance you were originally scheduled to receive. Once you have completed more than 60 percent of the payment period of enrollment, you earn all the assistance you were scheduled to receive for that period.

If you did not receive all of the funds that you earned, you may be due a post-withdrawal disbursement. If the post-withdrawal disbursement includes loan funds, you may choose to decline the loan funds so that you do not incur additional debt. Dominican University may automatically use all or a portion of your post-withdrawal disbursement (including loan funds, if you accept them) for tuition, fees and room and board charges (as contracted with Dominican University). For all other school charges, Dominican needs your permission to use the post-withdrawal disbursement. If you do not give permission, you will be offered the funds. However, it may be in your best interest to allow Dominican to keep the funds to reduce your obligation to the school. If you (or Dominican or parents receive on your behalf) received excess Title IV program funds that must be returned, Dominican must return a portion of the excess equal to the lesser of

• Dominican University charges multiplied by the unearned percentage of your funds.

• The entire amount of excess funds.

Dominican must return this amount even if it didn’t keep this amount of your Title IV program funds.

If Dominican is not required to return all of the excess funds, you must return the remaining amount. For any loan funds that you must return, you (or your parent for a PLUS Loan) repay in accordance with the terms of the promissory note. That is, you make scheduled payments to the holder of the loan over a period of time.

Any amount of unearned grant funds that you must return is called an overpayment. The amount of a grant overpayment that you must repay is half of the unearned amount. You must make arrangements with Dominican or the Department of Education to return the unearned grant funds.

The requirements for Title IV program funds when you withdraw are separate from any refund policy that Dominican University may have. Therefore, you may still owe funds to Dominican to cover unpaid institutional charges. Dominican University may also charge you for any Title IV program funds that the university was required to return. If you don’t already know what Dominican’s refund policy is, you can view the policy on the University website. Dominican University academic advising department can also provide you with the requirements and procedures for officially withdrawing from school.

If you have any questions about your Title IV program funds, you can call the Federal Student Aid Information Center at 1(800) 4-FEDAID [1(800) 433-3243], TTY users may call 1(800) 730-8913. Information is also available on Student Aid on the web at www.studentaid.ed.gov.