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Financial Aid

This is a draft of the Financial Aid section for 2014-15. It includes information about Financial Aid and the new Extended Studies program.

FINANCIAL AID

Financial aid at DePauw is designed to assist students who would otherwise be unable to attend the University due to financial constraints and to recognize academic achievement and potential. DePauw maintains its own scholarship, work and loan programs, and participates in federal and state financial aid programs. This variety of resources permits a majority of students attending DePauw to defray the cost of their education through some form of financial assistance, including scholarships, loans and/or work-study. DePauw has enjoyed remarkable financial support from alumni and friends, and their generosity makes it possible to help many students through an extensive financial aid program.

Merit Awards. All enrolling students are automatically considered for a variety of merit awards. Most merit awards do not require a separate application; others, such as the Rector and Holton Scholarships, do. Additional awards are reserved for continuing students who are selected on the basis of their college academic achievements or for positions of leadership on campus. Please note that merit awards may not exceed the cost of tuition in any academic year.

Parents and students are invited to write for more specific information about scholarship opportunities and financial aid to: Financial Aid Office, DePauw University, 204 E. Seminary Street, P.O. Box 37, Greencastle, IN 46135-0037. Call (765) 658-4030.

Grants and Scholarships

Grants and scholarships constitute a major portion of financial aid for students at DePauw. These awards require no repayment and are made available through federal, state and DePauw financial resources. A student's eligibility for merit-based grant or scholarship assistance may be determined by: 1) high school academic record and standardized test scores; and 2) special talents and involvement in extracurricular activities, including leadership and service.

Alumni Legacy Awards of $1,000 per year are offered to students whose parents or grandparents graduated from DePauw. These awards are made regardless of financial need.

The Bonner Scholarship program allows students to be actively involved in community service activities throughout the academic year and during the summer. Students are selected for the program based on their demonstrated commitment to community service and financial need. Students receive a financial stipend during both the school year and summer to support them in their community service work. The scholarship stipend is $2,500 for each academic year the student participates in the program. Within the award is included a book and travel stipend.

The Rector Scholarship at DePauw University is one of the oldest merit scholarship programs in the nation. Students with outstanding academic achievement are selected to receive full or three-quarter tuition Rector Scholarships. Recipients are chosen by a University committee on the basis of high school academic record, standardized test scores, special talents, leadership abilities, and submission of a required essay. Students must be invited to apply for the Rector Scholarship. Rector Scholarships replace other merit awards previously offered.

The Holton Memorial Scholarship was established in 1997 in memory of Philip and Ruth Holton to recognize excellent students who demonstrate hard work, integrity, leadership and service to their community. Students are considered for the Holton Memorial Scholarship based on a thorough review of their academic record and documented leadership and community service activities as presented in their application for admission. Students are asked to submit a resume for Holton consideration. These awards range from approximately $1,000 to $8,000 per year. Holton Scholarships are added to other merit awards previously offered.

Lilly Room & Board Scholarships are available to Lilly Scholars attending DePauw. In addition to the full-tuition scholarship that students receive from the Community Foundation in their home county, DePauw will fund full room and board for up to four years. Additional information on the Lilly Endowment Community Scholarship Program is available at www.icindiana.org.

The Rolla M. Malpas Trust Scholarship is available to outstanding students who have substantial eligibility for need-based financial assistance. The Malpas Scholarship meets the recipient's full demonstrated need for four years of study at DePauw. Applicants must have been born in Indiana, graduated from an Indiana public high school and have maintained a high school scholastic average of at least a B+ or its equivalent. Recipients of the Malpas Trust Scholarships are not permitted to hold a job during the school year or obtain scholarship or loans from other sources. Application materials are available at the Financial Aid website in late fall and must be submitted to the financial aid office by February 15.

School of Music Performance Awards up to full tuition are given to the most outstanding performers in instrumental and vocal performance. Interested students should contact the Office of Admission to arrange an audition.

DePauw University National Merit Scholarships of $1,000 per year are available to National Merit Finalists, regardless of need, who list DePauw University as their first choice and who appear on the official roster of the National Merit Scholarship Corporation confirming eligibility to receive a DePauw sponsored award. Recipients will be notified prior to April 15.

 

Applying for Need-Based Financial Aid

To apply for need-based financial assistance an applicant and his/her parents must:

  • Complete the Free Application for Federal Student Aid (FAFSA) by the appropriate due date. The application is available online each year at www.fafsa.ed.gov after January 1. The FAFSA is the application required for both federal and state financial aid programs. DePauw's FAFSA code number is 001792.
  • Complete the College Scholarship's Service's CCS/PROFILE Form (first-year students only) online at http://profileonline.collegeboard.com by the appropriate due date. DePauw's PROFILE code number is 1166. In lieu of the CSS/PROFILE, first-year students may submit the DePauw Application for Financial Aid by the appropriate due date. The DePauw application is available online at http://www.depauw.edu/admission/financial-aid/forms/. Returning students should complete the DePauw Application for Financial Aid (and not the CSS/PROFILE).
  • Provide signed copies of the student's and parents' federal income tax returns for the current year, including W-2 forms and all schedules. Students selected by the US Department of Education for federal verification may have additional requirements that will be communicated to the student in writing.
  • Please note that students must reapply for need-based assistance each year according to deadlines established by the Financial Aid Office. Awards based on financial need are subject to change in subsequent years, if family financial circumstances change. The most common circumstances that affect need-based financial aid eligibility are changes in family income due to the addition of a parent going to work or increasing work hours, income, etc. or a change in the number of other siblings enrolled as an undergraduate in college.
  • Students who choose to marry after they are enrolled at DePauw will continue to receive institutional financial aid as dependent students. In other words, a parent contribution is calculated regardless of the student's marital status.
  • DePauw University reserves the right to use institutional scholarship funds at its discretion.

 

After evaluating the information listed on the FAFSA, the federal student aid program provides an analysis of the expected family contribution to DePauw. If the University's own analysis indicates that an applicant is eligible for assistance, the financial aid staff will construct a financial aid package that incorporates all available sources of scholarships, grants, work opportunities and loan programs for which the student qualifies.

Notification of need-based financial aid eligibility will be made to entering freshmen and transfer students beginning in late March, provided that the financial aid application is complete (both the FAFSA and the PROFILE or DePauw Financial Aid Application filed by the appropriate due dates). Awards to continuing students will be made beginning in June.

Awards based upon inaccurate information submitted by the student or student's parents are subject to revision. It is the student's responsibility to inform the Financial Aid Office of any updates or reporting errors.

Additional information about the financial aid application, awarding process, financial assistance offered, and how funds are disbursed to the student's account may be found at http://www.depauw.edu/admission/financial-aid/.

It is very important that students and families submit required applications for financial assistance by the stated deadlines. Applicants for admission should file both the FAFSA and the CSS/PROFILE no later than February 15 of the year they will enter college. Late applicants will receive scholarship assistance only if funds remain available. Indiana residents please note: The FAFSA must be received by the federal processor prior to March 10 in order to receive state scholarship assistance.

Returning students must meet the deadlines established in the renewal process by the Financial Aid Office. On June 1 when financial aid awards are packaged, students who have incomplete files will have scholarship assistance reduced by $500 per month until their application is complete.

 

Disbursing Financial Aid

The Financial Aid Office posts the student's financial aid awards to the student's University account at the beginning of each semester. Loan applications that are not complete at this time are posted when finalized. Federal Work-Study awards are not part of this posting process. Any funds in excess of current-year tuition, fees, room and board (residence hall contracts only) charges are refunded to the student. These refunds are available only after the tenth day of classes. Students selected for federal verification as part of the financial aid process will have aid held until the verification process is complete. Students selected for verification will be notified by the Financial Aid Office.

Financial aid eligibility is affected by the following:

Full-time enrollment. Only full-time students (enrolled for a minimum of three or more course credits in the Fall or Spring term) can receive DePauw assistance. The only exception may be granted to second-semester seniors. DePauw merit awards and all need-based assistance for second-semester seniors with less than full-time schedules will be prorated. Other students with less than full-time schedules may be eligible for federal assistance.

Financial Support for Extended Studies

Students working toward completion of degree requirements may be eligible for federal financial aid (including loans) for credit-bearing Extended Studies courses. Students may also be considered for an Extended Studies Grant to support credit-bearing courses. To be considered for financial support for Winter or May Term courses, students must complete the need-based application process by May 1 of the prior academic year.  Students who only want to pursue federal loans should contact the financial aid office to discuss options and required applications.

FINANCIAL AID PRIORITIZATION FOR EXTENDED STUDIES

Priority for Extended Studies Grants will be given to those students:

  • who have financial need; and

  • who have not completed, and who will not be completing in the coming year, a semester-long off-campus experience (e.g., study abroad, Honors & Fellows semester internship); and

  • who have not received financial assistance for prior Winter Term or May Term faculty-led off-campus courses, Winter Term independent study, or Winter Term study at another school.

Being a previous recipient of DePauw financial support for externships or summer internships will not change a student's Extended Studies financial aid priority.  Other situations will be considered on a case by case basis.  

Non-credit-bearing courses, unless otherwise noted in the course description, are not eligible for federal financial aid or Extended Studies Grants.

Ninth Semester Financial Aid 

DePauw matriculated students are normally eligible for eight semesters of financial aid, offered only in those semesters in which the students carry a full-time load. Under special circumstances students may be awarded a ninth semester of financial aid. Tuition charges will be at the normal rates and financial aid packaging will be done according to the normal principles.

This program is designed for students who demonstrate appropriate academic justifications. For example:

  • students in the Music Education program which requires 33 credits plus ensembles;
  • students who are advised to take a reduced academic load to enhance the successful completion of their DePauw degree; and
  • students who must withdraw during a semester for health reasons and therefore require an additional semester.

Students may apply for a ninth-semester of financial aid after completing their fourth semester of college but before the end of their sixth semester. The successful candidate will demonstrate strong academic potential for completion of his or her DePauw educational plans. In addition, the course of study complete to that point must conform to the academic advice given by both faculty advisors and the Dean of Student Life regarding scheduling and the order of classes. If special circumstances arise during the seventh semester a late application may be considered.

Applications for eligibility for a ninth semester of financial aid for academic reasons will be reviewed by the financial aid office.

Scholarship Note: Merit Awards will not be continued for the ninth semester. Only students with need-based financial aid packages will be considered for aid based upon demonstrated financial need.


Additional Financial Aid Information

Financial aid information is always available from DePauw's Financial Aid Office located on the second floor at 204 East Seminary Street, or by calling (765) 658-4030. DePauw University reserves the right to change policies on an annual basis.