OTHER FINANCIAL AID
Several sources of financial aid are available to graduate
students through the assistance of the Financial Aid Office. In order
to be eligible for participation in the need-based programs (Federal
Perkins Loans, Federal Work Study, and Federal Direct Loans),
students must file a Free Application for Federal Student Aid
(FAFSA). Students should begin the application procedure in January
or February for the fall semester. The completed FAFSA application
is sent off campus for analysis and should be mailed by February 15
so that the processed application will be returned to the University by
May 1 or go to www.fafsa.ed.gov to file online. To be eligible for
federal assistance, a graduate student must be enrolled for a minimum
of 5 credit hours per semester. Foreign students are not eligible for
these programs.
FEDERAL PERKINS LOANS
Graduate students may borrow up to $40,000. This total includes
any amount previously borrowed under Federal Perkins Loans for
undergraduate study. Repayment for new borrowers begins nine
months after the student graduates or leaves school. Eligibility for
such a loan is based on demonstrated financial need. Perkins Loans
average $1,000 per annum.
FEDERAL DIRECT SUBSIDIZED LOANS
The Direct Loan program enables the student to borrow a low-interest
loan for educational expenses. All students are required to
complete a Free Application for Federal Student Aid (FAFSA) before
a promissory note can be processed. A graduate or professional
student may borrow up to $8,500 per year. The interest rate for first-
time borrowers is fixed at 6.8 percent. The total amount outstanding
that a graduate or professional student may borrow is $65,500,
including loans previously made at the undergraduate level.
FEDERAL WORK-STUDY PROGRAM
Eligibility is based on demonstrated financial need. Graduate
students may apply if enrolled at least half-time. Jobs may be
arranged either on campus or off campus with a public or private
nonprofit agency such as a hospital. If eligible, a student may be
employed for as many as 15 hours a week during regular academic
sessions and 40 hours per week during vacation periods. In general,
the salary received is based on the current minimum wage, but it is
also related to the type of work performed and the proficiency
required of the student.
FEDERAL DIRECT UNSUBSIDIZED LOAN
Graduate and professional students are eligible to borrow
through the Unsubsidized Loan program. A Free Application for
Federal Student Aid (FAFSA) is required. Graduate students are
entitled to borrow $10,000 per year in addition to the amounts that
they may borrow under the Federal Direct Subsidized Loan Program.
The total amount that a student may borrow through the subsidized
and unsubsidized programs is $138,500. This includes loans received
during undergraduate study. The interest rate is fixed at 6.8 percent.
Aid that is received through one’s department, such as a graduate
assistantship, can affect one’s total loan eligibility.
FEDERAL DIRECT PLUS LOANS
Graduate and professional students may borrow on their own
behalf, up to the cost of attendance. The interest rate for PLUS loans
is fixed at 8.5 percent. It is necessary to file the FAFSA to apply for
the PLUS loan.
EMERGENCY LOANS
Undergraduate and graduate students may have difficulty with
temporary, unanticipated expenses. The Office of Scholarships and
Financial Aid offers a 30-day, no-interest loan to assist with such
temporary difficulties. Contact the Office of Scholarships and
Financial Aid for further information regarding emergency loans.
FINANCIAL AID RECIPIENT WITHDRAWALS
If you are a recipient of Title IV federal financial aid funds
(Examples: Direct/Stafford Student Loans, Perkins Loan, Nursing
Student Loan is also a federal financial aid program, Direct/Parent
Loan) and your enrollment terminates through official withdrawal,
your financial aid award must be reviewed for possible adjustment.
Financial aid eligibility is based on the cost of education
(tuition, mandatory fees, housing, meal plan, books, etc.) incurred for
the entire semester and is contingent upon completion of that
semester. When you withdraw, federal regulations mandate that any
unearned aid be returned to the federal aid programs. The percent of
aid earned is based on the date of withdrawal divided by the total
number of days in the semester. Title IV recipients are governed by
federal policy if they withdraw prior to completing 60% of the
semester.
If your institutional charges are reduced or recalculated, this
change may result in the reduction of recipients’ other sources of
financial aid.
FAILURE TO WITHDRAW OFFICIALLY
Students are required to adhere to the University’s official
withdrawal policy when terminating their enrollment prior to the
end of a given term. Failure to officially withdraw will result in the
cancellation of any Federal financial aid program funds previously
awarded for that term. Federal regulations require that funds for
ineligible recipients be returned to the financial aid program
accounts. Students will be billed for semester charges.
SATISFACTORY ACADEMIC PROGRESS
For financial aid purposes, the federal Title IV assistance
programs require students to maintain progress toward a degree. The
federal programs include Federal Work-Study, Federal Direct Loans,
Federal Family Education Loans (Stafford), and Federal Perkins
Loans. Satisfactory progress for financial aid purposes requires:
- Completion of a graduate degree within five years of full-time
attendance or its equivalent (a seven-year limit is provided for
doctoral students entering without a master’s degree),
- A cumulative grade point average consistent with the requirements
of the graduate division, and
- Successful completion of 67% of credit hours attempted.
Academic records will be reviewed at the end of each spring
semester. Students who fail to make satisfactory progress will be
ineligible for federal financial assistance. Additional information
concerning this policy may be obtained from the Office of
Scholarships and Financial Aid.
CAMPUS AND OTHER EMPLOYMENT
Information on summer and part-time jobs both on campus and
in the surrounding community is available in the Career Services
Center through the Student Employment Service or on-line
(http://www.udel.edu/CSC/). Jobs that are federally
funded through the College Work-Study Program are listed in the
Office of Scholarships and Financial Aid at (302) 831-8761.