Transfer applicants must also submit:

• Official college transcript(s) from each school attended
• College Official's Report

Application for Admission Due Dates

Financial Aid Application Due Dates

Early Decision

Early Decision is an admission program designed to assist applicants who decide early in their senior year that DePauw is their first-choice college. It is expected that Early Decision candidates, if accepted, will attend DePauw and withdraw all applications pending elsewhere. The University takes this commitment seriously and expects that Early Decision applicants will do so as well. The non-refundable enrollment deposit that reserves a student's place in the class is due by February 15 for Early Decision applicants. Those who are not sure that DePauw is the best choice for them should apply under one of the other admission programs.

Early Notification

Regular Admission

Enrollment Deposit

Transfer Students

Transfer students are encouraged to apply to DePauw University if they have achieved B grades or better in their college-level work. All materials noted above should be received in the Admission Office by March 1 for fall semester admission, and December 1 for spring semester admission. The non-refundable enrollment deposit is due on the date stipulated in the letter of admission. It is important to note that the University will not consider students for transfer admission who are not eligible to return to their previous institution for either academic or social reasons.

Final transfer credit evaluation will be made after official transcripts and course descriptions, if requested, are received by the Office of the Registrar. Credits are accepted for transfer only if granted by an accredited institution and carrying grades of C or above. For more complete information, see Section IV, Credit and Transfer Credit under Academic Policies of the University.

If additional transcripts of college-level work are presented that were not made available to the Admission Committee, the University reserves the right to deny transfer credit or to withdraw the student from the University if pertinent information has been withheld.

Applicants Without High School Diplomas

Early Admission is possible for highly qualified high school juniors who wish to forgo their senior year and enroll at DePauw without earning a high school diploma. A student considering Early Admission must present an excellent high school academic record and have the unqualified support of the secondary school and family. An interview on campus with an admission officer is often required to assess the emotional, social and intellectual maturity of the applicant. Students enrolling without a high school diploma or GED must meet an Ability to Benefit test to qualify for federal and state financial aid funds.

Non-Degree

Non-degree seeking students (special student status) other than international candidates apply for admission to the University through the Office of the Registrar.

International Students

International students are encouraged to apply for admission to DePauw University. All interntaional students must take the SAT I or ACT to be considered for admission to DePauw, unless they reside in a country which does not offer the SAT. In this case, the Test of English as a Foreign Language (TOEFL) or International English Language Testing System (IELTS) score is required. A minimum score of 560 paper-based, 220 computer-based, or 83 internet-based is required on the TOEFL, and a minimum score of 6.5 is required on the IELTS exam.

DePauw's scholarship funds for international students are limited, so most students should plan to assume full financial responsibility for the costs of their education. These costs include tuition, room and board, fees, books, the required University configured laptop computer, insurance, SEVIS fees, personal expenses and travel between their home and DePauw.

All international students are under the supervision of the director of international education and the international student advisor. DePauw University is authorized by the federal government to issue the I-20 and DS-2019 forms to international students who are admitted to the University and indicate their plans to attend.

Students who are not U.S. citizens are admitted as:

• regular degree candidates, or
• special students and exchange students

Regular degree-seeking international students work toward the Bachelor of Arts or Bachelor of Music degrees. Where satisfactory documentary evidence of advanced placement is missing, examinations are given. Fees are the same as for U.S. degree candidates.

Special international students are not candidates for DePauw degrees but may transfer their DePauw credits toward a degree at another institution. Special international students are admitted to study at DePauw on a temporary basis (one or two semesters) and enroll in courses for credit. Such students may elect one course per semester on a Pass/Fail basis. The fee arrangements vary with each program, depending upon the agreement with the student's sending institution. All one-semester and one-year special international students live in on-campus housing while studying at DePauw. A certificate of attendance at DePauw is provided.

Exchange students are regularly enrolled degree candidates at their home universities who come to DePauw for one semester or one year as upper-class special students. They enroll for credit and transfer those credits back to their home schools. The fee arrangements vary with each program, depending upon the exchange agreement. Regular exchange agreements exist with Waseda, Kansai Gaidai, Aoyama Gakuin and Nanzan universities in Japan; Tsinghua University in China; Koc University in Turkey; and Ewha Womans University in South Korea. All one-semester and one-year foreign-exchange students live in on-campus housing while studying at DePauw. A certificate of attendance at DePauw is provided.

Readmission

Candidates who were previously enrolled at DePauw apply for readmission through the Office of the Registrar. Readmission is evaluated on the basis of previous work done at DePauw, any subsequent course credits earned at another college or university, and other experiences since leaving DePauw. Medical and other information may be requested, and all previous financial obligations to the University must be paid in full before readmission will be considered. Deadline dates for readmission applications and accompanying documents are: July 1, for the fall semester; November 1, for Winter Term; and December 1, for the spring semester. Appropriate housing arrangements are made through the Student Affairs Office. Guidelines and application for readmission are available on the Registrar's Office website: http://www.depauw.edu/admin/registrar/forms.

DePauw Four-Year Guarantee

The University guarantees graduation within four years of matriculation at DePauw in standard four-year degree programs. The student has primary responsibility for knowing the graduation requirements and planning adequately to meet them. Should a student follow the course of study agreed upon with his/her academic advisor and not be able to graduate within eight consecutive semesters, tuition will be waived for any subsequent course work necessary for graduation provided the student:

• declares a major by the middle of the sophomore year and persists in that major,
• completes a full-time course load with grades of C or higher for a total of 31 course credits over eight consecutive semesters and
• adheres to the distribution and competence requirements.

With appropriate planning, most students can participate in special honors programs, off-campus study opportunities, prepare for teacher certification, and/or have a minor or even a second major within four years as well. The guarantee applies only to the basic degree requirements for programs that require 31 courses, however. Certain specialized programs in the School of Music and dual degree programs are exempt. Although students planning to major in a biological or physical science do not need to declare their majors immediately, they must begin taking appropriate laboratory science courses upon matriculation.

While teacher certification is not included in the guarantee, DePauw has a special program for students who decide to obtain teacher certification late in their academic programs, and they should consult with the education department or the Office of the Registrar for more information.

Ninth Semester Tuition Policy (effective January 01, 2002)

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. In addition, the course of study complete thus far must conform to the academic advice given by both faculty advisors and the Dean of Student Academic Support Services regarding scheduling and the order of classes. If special circumstances arise during the seventh semester, the committee will consider a late application.

Applications for eligibility for a ninth semester of financial aid for academic reasons will be reviewed by the Petitions Committee in consultation with the financial aid office.

Procedures:

• Applications may be obtained from the registrar's office.
• Return application to the registrar's office and request that a transcript be attached.
• Attach letters of support to the application or arrange for them to be sent to the registrar's office. Students should have a letter from their academic advisor confirming that the student followed the advisor's advice and other university personnel who might have advised them about their academic program.
• Applications should be filed by mid-June or mid-January within the semesters indicated.

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.

2008-2009 Tuition and Fees per Semester

Tuition:

Fees per semester:

Tuition in the School of Music includes private instruction in required applied music, in accordance with specifications listed in Tuition for Private Instruction. However, students enrolled in the College of Liberal Arts are charged an extra fee for private instruction as indicated below.

2008-09 fees for private and applied group instruction in one instrument in Applied Music taken by students matriculated in the College of Liberal Arts and by students matriculated in the School of Music who elect to take more than the allotted number of courses in

Applied Music:

Applied music tuition and dance course tuition are refunded, with charges deducted for lessons received, only if the student has canceled the course with the approval of the dean of the School of Music and has adjusted his or her registration within the first six days of the semester. There is no refund after the first six days of the semester. Students in the College of Liberal Arts who have declared a music major are not charged for up to four courses of applied music provided they are applicable toward the Bachelor of Arts degree.

2008-09 tuition for group instruction in piano, voice or guitar
taken by students matriculated in the College of Liberal Arts:

2008-09 tuition for group instruction in dance
taken by all students:

2008-09 fees for expenses in connection with supervised student teaching:                                                    $390.00

2008-09 tuition for students enrolled in the Fifth-Year Teacher Education Program:

Courses taken in the Department of Education and teaching methods courses in departments at the 400 level are charged $1310.00. The per course credit for all other courses is one-half the tuition rate.

2008-09 fees for special departmental examinations:

There is no refund of the fee for the departmental examination in case of failure to establish credit.

Tuition for students not enrolled during either semester who wish to enroll in Winter Term only or for students enrolled in Winter Term make up projects:

Students not enrolled during the first semester, but who wish to enroll for the second semester, pay full tuition and fees at the time of registration whether or not they participate in Winter Term.

2008-09 fee for auditors.
Full-time students may audit one course each semester without charge. The fee for all others:

International auditors enrolled in the equivalent of 2 1/2 to 4 1/2 courses pay $2,425 per semester plus fees for applied music and dance.

NOTE:
There is no transcript entry for credit and grades earned for audit classes. Auditors who use University materials or equipment are assessed additional fees to cover the cost.

Payment of tuition covers:

1. Enrollment in any course applicable toward a degree.
2. Enrollment in Winter Term during January.
3. For music majors, enrollment in the amount of private or class instruction required for the individual degree program, the use of practice rooms and necessary equipment. (Students in the BM degree program pay additional fees beyond seven applied music credits; students in the BMA degree program pay additional fees beyond five applied music credits; students in the BME degree program pay additional fees beyond five and 1/4 applied music credits; music majors in the College of Liberal Arts pay additional fees beyond two applied music credits.)
4. Enrollment in Army and Air Force ROTC courses and Music Ensembles for School of Music students only that may exceed a student's maximum semester course load. NOTE: All students must petition the Petitions Committee through the Office of the Registrar if they deviate from the normal semester course load although students in the School of Music may take up to 5.25 credits without a petition as long as ensembles constitute the overload.
5. Facilities provided by the physical education department, including individual locker service and some equipment used in activity classes.
6. Limited counseling services.
7. Use of science, computer and language laboratories; libraries; and Memorial Student Union Building.
8. University chapels, convocations, lectures and music programs.
9. Admission to most varsity athletic contests held in Greencastle.
10. A diploma upon completion of graduation requirements.

Payment of fees covers:

1. Services of the Student Health Services
2. Student Activity Fee

Payment of Tuition and Fees

Payment of tuition and fees is due no later than August 1 (first semester) and January 31 (second semester). A student's registration is not complete until all charges are paid. A deferred payment plan is described in this section.

Late Registration Fee.

Students who do not complete their registration by payment or arrangement for payment of their tuition and fees by August 1 and January 31 may be charged a $45 late registration fee.

A fee of $45 may be charged if a student fails to complete Winter Term registration by the first day of Winter Term or to complete Winter Term adjustments approved by the Petitions Committee within the specific adjustment period.

Loss and Breakage. When University materials and equipment are issued to the student for class work, the student will be charged for loss or breakage. At the discretion of the department chair, payment for loss or breakage is charged to the student's account and is payable in the Cash Receipts Office.

Physical Education and Music Ensembles. The required activity courses in physical education are not counted in determining the semester course load but are counted in determining tuition. Music ensembles are not counted in determining the semester course load and are not counted in determining tuition.

Transcript of Credit. No transcripts or official statements of student records are sent until all accounts are paid in full.

Off-Campus Study Programs. A cancellation fee of $100 is assessed any student who decides not to participate in an off-campus study program after May 1 for fall semester or full year off-campus programs and September 15 for spring semester programs. In addition, the student is liable for any cancellation fees charged by the host institution.

Room and Board

Room and board payment is due on the same dates as tuition and fees payments. A Deferred Payment Plan is available for payment of room and board charges.

Room and Board Costs

The cost of room and board in all University residence halls is $4,200.00 a semester for 2008-09. For room and board purposes, the first semester ends in the middle of Winter Term. Room contracts are for the entire year, including Winter Term. Once a student moves into a residence hall room, he or she is responsible for payment for that semester.

A board plan is mandatory for students living in the residence halls; it is optional for students living in alternative housing.

Students requiring special diets for medical reasons should make arrangements through the Student Affairs Office.

Furniture and Room Damage. Damage to equipment and furnishings in University residences, over and above that caused by normal usage, will be charged to the student. Any charge for damage incurred during residence is payable at the Cash Receipts Office in the Administration Building.

Deferred Payment Plan

Room, board, fees and tuition are payable in full within the billing dates specified unless arrangements have been made for deferred payment. Students and families may request participation in DePauw's deferred payment plan. Under this plan, an agreement is made involving an initial payment with the balance divided into four payments during each semester, which are due August 1, September 1, October 1 and November 1 for the fall semester and, February 1, March 1 and April 1 for the spring semester. Details of the deferred payment plan are available from the Cash Receipts Office.

Prepaid Tuition Plan

Prepayment of DePauw University tuition may occur at any time up to the date regular tuition is due, usually August 1 of the academic year. From one to eight semesters may be prepaid at the tuition rate in effect for the current academic semester. For additional information, contact the Office of the Vice President for Finance and Administration.

Basic Costs Summary for 2008-2009

The cost each semester per student is shown below. All policies are under continual review. The University reserves the right to change its charges.

College of Liberal Arts and School of Music

Other Expenses

Students can purchase textbooks and supplies at the DePauw Bookstore or any other store of their choosing. In addition, each student has variable expenses for clothing, laundry, travel, recreation and incidentals to consider.

Expenses for students who become members of social fraternities and sororities are somewhat higher than for those who do not affiliate.

Each year, student organizations in the residence halls vote to assess each resident a fee to cover the cost of newspapers, magazines, books for hall libraries, parties and other incidentals. This additional fee will be included with the room and board charges on the tuition statement.

A fee is charged to replace student identification cards and a $35 parking permit fee is required for students who have a motor vehicle on campus. Unpaid parking fines and late payment fees are assessed to the student's tuition account on a monthly basis. A fee is also charged for checks returned due to insufficient funds or stop payment orders.

Students participating in the graduation ceremony purchase their own caps and gowns.

Winter Term Expenses

Students are not charged extra for their chosen Winter Term projects on campus, except for costs directly related to the project. However, all off-campus costs are the responsibility of the student participants for their chosen faculty-approved off-campus projects.

Withdrawal and Refund Policy

Tuition Refund. A student who withdraws during the semester will receive an adjustment to tuition charges on a per diem pro-ration (number of days enrolled divided by the number of days in the semester) through 60 percent of the semester. A student who withdraws within eight weeks due to illness may elect to take a certificate issued by the vice president for finance and administration for the portion of the actual tuition paid. A $100 administrative fee is charged for withdrawal during the semester. A student who is suspended from the University during the semester for disciplinary actions is not entitled to any refund of tuition.

Residence Hall Room and Board Refund. There is no refund for the room portion of the residence hall room and board charges. Board charges will be refunded on a prorated per diem basis throughout the semester regardless of the reason for withdrawal. The board refund is calculated beginning the day the residence hall room is totally vacated.

Note of Explanation

Appeals. Special exceptions to the above policies should be directed to: Vice President for Finance and Administration, DePauw University, 313 S. Locust Street, P.O. Box 37, Greencastle, IN 46135-0037.

Student Financial Obligations

1. University Bills. Any account due the University must be paid. This includes tuition, fees, room and board, miscellaneous charges and emergency loans.
2. Student Loans. A borrower must participate in an exit interview in the Student Loan Office whenever that student ceases eligible enrollment at the University.
3. Grants, Scholarships, Loans. Students will be contacted by the Financial Aid Office about repayment obligations of current-year awards whenever a student ceases eligible enrollment at the University. This includes withdrawing from the University or reducing the course load to fewer than three course credits.

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 will automatically be considered for a variety of merit awards. Most of these merit awards do not require a separate application; others, such as the Holton Memorial Scholarship, Bonner and Rector 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, 101 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.

The Edward 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-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. The Holton Memorial Scholarships require an additional application essay and resume, and awards range from $1,000 to full tuition per year. Holton Scholarships are added to other merit awards previously offered; full-tuition awards replace other merit awards previously offeres.

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

DePauw University National Merit Scholarships are available to National Merit Finalists. Awards of $1,000 are available to finalists, regardless of need, who list DePauw University as their first choice with the National Merit Scholarship Corporation. 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 form is available in high school guidance offices in November and on the internet after January 1, for the subsequent entrance year. The renewal FAFSA for continuing students is available only on the internet at www.fafsa.ed.gov. The FAFSA is the application required for both federal and state financial aid programs. DePauw's FAFSA code number is 001792.
• Complete the DePauw Application for Financial Aid by the appropriate due date. The DePauw application is available from the offices of Admission and Financial Aid. Families may choose to substitute the College Scholarship Service's PROFILE Form in lieu of the DePauw form. Our PROFILE code number is 1166.
• Provide signed copies of the student's and parents' federal income tax returns for the current year, including W-2 forms and all schedules. Having tax information available should eliminate most requests for additional information.
• Please note that students must reapply for need-based assistance each year according to deadlines established by the Financial Aid Office. Families should not infer that an offer of need-based financial assistance one year means that they will receive the same level of aid in subsequent years, as family financial circumstances often 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 in college.
• Students who choose to marry after they are enrolled at DePauw will continue to receive financial aid as dependent students. In other words, their parents' financial obligation remains 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 put together a financial aid package that incorporates all available sources of scholarship money, job 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 DePauw form or PROFILE 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 www.depauw.edu/admin/financial-aid.

It is very important that students and families who require need-based financial assistance to attend DePauw apply for aid by the stated deadlines. Applicants for admission should file both the FAFSA with the federal processor and the DePauw Application for Financial Aid with the University's Financial Aid Office 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. Returning students whose financial aid applications are completed after the May 1 deadline will have their scholarship assistance reduced. On June 1 when financial aid awards are packaged, students who have incomplete files will have their scholarship assistance reduced by $500 per month until their application is complete. Reductions in scholarship assistance will be met with additional loan funds.

Financial aid eligibility is affected by the following:

Satisfactory Academic Progress to Receive Federal Grants and Loans.

The federal government requires that institutions of higher education establish minimum standards of satisfactory progress toward the completion of a degree. DePauw's eligibility standards are based on 10 semesters to complete a major or program of study. However, scholarship and grant assistance from DePauw and state agencies is limited to eight semesters. Students who fail to meet the following standards are not eligible to receive state and federal financial aid or DePauw assistance. In order to make satisfactory progress, full-time students must achieve the credit total shown below at the end of the semester they have just completed. Completing a course means receiving a grade of A, B, C, D, P or S. The credit of a course will not count toward the minimum required hours listed above if the student fails a course with a grade of F or U, withdraws from a course and receives a grade of W, audits a course and receives a grade of X or takes a previously completed course to improve the overall grade point average. Students must also be academically eligible to continue at DePauw.

Part-time work will be prorated to equivalent full-time semesters at a rate of one course equals one-fourth semester.

Probation. Students who fail to earn the required number of credits will receive a warning that they are falling behind and will be placed on financial-aid probation for one semester. Students will be eligible to receive federal aid during the probationary semester. If a student does not attain the appropriate number of cumulative credits by the beginning of the following semester, the student will not be eligible to receive financial assistance until the required standard is met. Transfer students will have their progress evaluated upon receipt of academic transcripts from all schools previously attended. Transfers are held to the same progress standards listed above by combining enrollment and course credit from previous institutions with enrollment and credit earned at DePauw.

Incompletes. A student who fails to meet the minimum credit requirement due to an incomplete course will be placed on financial-aid probation. The student will have a prescribed period in which to complete the course; see Section IV. A student on financial-aid probation who fails to meet the minimum credit requirement due to an incomplete will become ineligible to receive financial aid.

Grade Point Average. Financial aid recipients must meet the requirements given in the Student Handbook under "Academic Probation and Dismissal." The Academic Standing Committee will determine whether a student may remain at DePauw and, therefore, continue to receive financial aid if above progress is being met.

Institutional Aid. The requirements outlined above also apply to eligibility for all financial aid given by DePauw University. In addition, students are ineligible to receive DePauw scholarships and grants beyond their eighth semester at DePauw unless the student is eligible for Ninth Semester Tuition. Transfer students will have enrollment periods at schools previously attended deducted from the usual eight semesters of DePauw scholarship eligibility.

Probation Appeals Procedure. A student who is placed on probation or denied financial aid due to failure to make satisfactory progress can appeal in writing to the director of financial aid. The director will review the appeal and notify the student in writing of the decision within 10 days. A student wishing to appeal the decision of the director of financial aid may do so in writing to the vice president for admission and financial aid.

Reinstatement of Aid. If a student who has been denied aid succeeds in fulfilling the minimum credit and grade point average requirement at the end of the academic year, he or she may request reinstatement of his or her eligibility. Requests should be made in writing to the director of financial aid.

Loan Assistance

Loans are available to students and parents as a means of financing a DePauw education. Loans must be repaid based upon the terms of the individual loan program. Students must sign a promissory note (legal agreement to repay) for any loan monies received. The promissory note contains detailed information about terms, responsibilities and repayment of the loan. There are no penalties for prepaying the principal in any student loan program.

Federal Perkins Loans are awarded through the University on the basis of financial need as evidenced by the FAFSA. The interest rate for a Federal Perkins Loan is 5 percent. Repayment begins nine months after the student ceases to be enrolled at least half-time. Repayment may be deferred if a student returns to at least half-time study or for other specified periods of study or service. The maximum that a student may borrow for undergraduate study through the Perkins Loan is $20,000. Partial cancellation of the Federal Perkins Loan is possible for a borrower in special circumstances.

DePauw University Student Loans have been established through the generosity of alumni, University organizations, faculty, staff and friends. Such monies will be used when other resources have been exhausted. Provisions are comparable to the provisions of the federal loan programs.

Subsidized and Unsubsidized Federal Stafford Loans may be used for educational expenses at DePauw University. Students obtain these loans by applying through a bank or other lending institution. Data from a current FAFSA must be on file in the Financial Aid Office. Need-based loans are subsidized, meaning that the government pays the interest while the student is enrolled at least half-time. Students who receive unsubsidized loans are responsible for interest payments while enrolled in school and during deferment and grace periods.

The maximum annual amount that a dependent undergraduate may borrow is $3,500 for the first year, $4,500 for the second year and $5,500 per year after two completed years of study. The interest rate is fixed at 6.8 percent effective for loans disbersed on or after July 1, 2006. Repayment begins six months after the student ceases to be enrolled at least half-time.

Federal PLUS Loans provide funds in addition to the Federal Stafford program. Parents may apply through our website: www.depauw.edu/adm/finaid.htm. The yearly loan limit is the cost of education minus estimated financial aid the student will receive. Parents must be credit worthy to qualify. The interest rate is fixed at 8.5 percent effective for loans disbursed on or after July 1, 2006. Repayment of the loan begins within 60 days after full disbursement. Provisions to defer payment of the loan are possible, but interest accrues during the deferment period.

Additional information regarding loans is available from the Financial Aid Office, your lender or your state guarantee agency.

IMPORTANT:
Any student who borrows from one of the above programs (except Federal PLUS) is required to complete an on-line student loan entrance interview before funds are credited to his or her account. Each student is presented with important loan information in this session. The student must also attend a student loan exit interview before withdrawing, transferring or graduating from DePauw. Academic records may be held if the exit interview is not completed. (See the section on Student Financial Obligations.)

Employment Opportunities

The Federal Work-Study Program enables students to defray a portion of their educational expenses through on-campus employment or participation in community service positions. The Financial Aid Office manages all University student employment. University job opportunities are available initially to those students qualifying for work-study employment. There are also jobs available to students not receiving this financial aid award; however, the majority of jobs are awarded to students who have work-study eligibility.

Eligibility for the Federal Work-Study Program is determined after the analysis of family financial data submitted on the FAFSA. This type of need-based assistance may also be packaged with scholarship and/or loans. PLEASE NOTE: A work-study award does not guarantee that the student will earn the amount awarded, and the student must take responsibility for working the required hours to earn the amount offered.

Federal Work-Study funds are paid directly to the student on a biweekly basis under an hour's pay for an hour's work arrangement. If the student or the student's family expects these funds to be used to meet University charges, the student should sign over the payroll checks to be credited to the tuition account.

Students interested in employment opportunities may contact the Financial Aid Office, DePauw University, 101 E. Seminary Street, P.O. Box 37, Greencastle, IN 46135-0037. Or call (765) 658-4030.

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. The Federal Stafford Loan and the Federal Work-Study awards are not part of this posting process. After the University receives the Federal Stafford Loan disbursement from the lender either in the form of a co-payable check or by electronic funds transfer, the Financial Aid Office forwards the disbursement to the Cash Receipts Office in accordance with federal guidelines. In the case of a check, proceeds are deposited to the student's tuition account upon endorsement. 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 first day of classes. Students selected for federal verification as part of the financial aid process will have their 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 courses) 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.

Additional Financial Aid Information

Financial aid information is always available from DePauw's Financial Aid Office located in the Administration Building, or by calling (765) 658-4030. DePauw University reserves the right to change policies on an annual basis.