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  • Establish an FSA Username & Password
  • Complete the Free Application for Federal Student Aid (FAFSA)
  • Complete the Master Promissory Note
    • This is only required for students borrowing Federal Student Loans
  • Complete the Entrance Counseling
    • This is only required for students borrowing Federal Student Loans
  • Pell Grant
    • Pell is a federal grant awarded to undergraduate students on the basis of financial need, which is determined by the FAFSA. The amount of the grant amount is based on your Student Aid Index (SAI) and number of credit hours enrolled.
  • Supplemental Educational Opportunity Grant (SEOG)
    • SEOG is a federal grant awarded to undergraduate students on the basis of financial need. Unlike the Pell Grant, however, SEOG is distributed by the school on a first come, first served basis. The amount awarded amount is based on eligibility of the Pell Grant and number of credit hours enrolled.
  • Federal Direct Subsidized Stafford Loans
    • The government pays the interest on the loan while the student is enrolled at least half-time and deferment periods.  Subsidized loans are awarded based on financial need.  This is determined by a student’s FAFSA.
  • Federal Direct Unsubsidized Stafford Loans
    • Interest begins accruing (accumulating) immediately when the loan funds are paid to Lourdes University. You can pay the interest while you are in school, and during grace periods and deferment or forbearance periods, or you can allow it to accrue and be capitalized (added to the principal amount of your loan).
    • There are limits on the maximum amount of Federal Direct Stafford Loans you are eligible to receive each academic year (annual loan limit) and in total (aggregate loan limits).
      • Dependent Undergraduate Students
        • $5,500 (up to $3,500 subsidized) as Freshmen
        • $6,500 (up to $4,500 subsidized) as Sophomores
        • $7,500 (up to $5,500 subsidized) as Juniors and Seniors
        • Maximum (Aggregate) Loan Limit: $31,000 (up to $23,000 subsidized)
      • Independent Undergraduate Students
        • $9,500 (up to $3,500 subsidized) as Freshmen
        • $10,500 (up to $4,500 subsidized) as Sophomores
        • $12,500 (up to $5,500 subsidized) as Juniors and Seniors
        • Maximum (Aggregate) Loan Limit: $57,500 (up to $23,000 subsidized)
  • Federal Direct Parent PLUS Loan
    • Parents of dependent students can apply for a Federal Direct PLUS Loan to assist their child in paying for college expenses. PLUS loans are packaged to cover the full cost of attendance, including living expenses and other indirect costs, minus other offered aid. You may wish to reduce the amount for which you apply, especially if your child is not living on campus. These loans are in the parent’s name and the parent is responsible for repaying them.
    • Parents must pass a credit check, (must not have an adverse credit history), to be eligible for the Federal Direct PLUS loan.
    • If a parent is denied for the Federal Direct PLUS loan based on credit, the student will automatically be awarded an additional $4000 (freshman or sophomore) or $5000 (junior and senior) in Federal Direct Unsubsidized Stafford Loan funds, which is the amount an independent student can borrow.
  • Cost of Attendance (COA): The estimated cost of attending this institution for one academic year. This amount includes the following:
    • Expected charges for one year of tuition and fees
    • Tuition – Charges assessed for classes
    • Fees – Charges assessed for other college services
    • Room and board for resident students
    • Estimated living expense — allowance for rent, utilities, and food for off- campus living
    • Estimated transportation costs
    • Estimated books and supplies
    • Miscellaneous costs
  • Dependency Status: For the purposes of federal financial aid, you are considered dependent unless you meet one of the following criteria: 1) you are 24 years of age by January 1st of the award year; 2) you are married; 3) you are a graduate student; 4)  you have children who receive more than half of their support from you; 5) you have dependents other than children or spouse who live with you & receive more than half of their support from you; 6) you are an orphan or ward of the court; 7) you are a veteran.
  • Direct Costs: Expenses the student/family pays to the college.
  • Disbursement: A payment of aid released to your student account.
  • Federal Direct Student Loan: Loan funds provided to the student by the U.S. Department of Education, through the school. Repayment of principal begins six months after the borrower ceases to be a student on at least a half-time basis. The Free Application for Federal Student Aid (FAFSA) is the annual application. There are two types of Federal Direct Student Loans: subsidized and unsubsidized. Students with financial need can qualify for a subsidized loan, and the government pays the interest on the loan while the student remains enrolled at least half time. Students who don’t demonstrate financial need qualify for an unsubsidized loan and interest accrues while the student is in school.
  • Federal Parent Loan (PLUS): A federal loan program that allows parents who have no adverse credit history to apply for up to the Cost of Attendance each year, less any financial aid. PLUS loans must be repaid with interest.
  • Private (Alternative) Loan: A loan from a commercial, state-affiliated or institutional lender used to pay for up to the annual cost of education, less any financial aid received. Private loans usually require the applicant to be creditworthy or have a co-signer and have varying interest rates, fees and repayment options. Repayment of interest (and often principal) generally begins immediately, with some lenders offering deferment options for in-school periods.
  • Enrollment Level: Level of the degree-granting program in which a student is enrolled. Basic levels of enrollment include: undergraduate (students seeking an associate’s degree, a certificate, or a baccalaureate degree); post-baccalaureate (such as teacher certification); graduate (students working on a master’s degree or professional degree); and post-graduate (such as students enrolled in a doctoral program). The amounts and types of financial aid a student is eligible for is determined, in part, by their enrollment level.
  • Enrollment Status: Academic workload (or course load), as defined by the institution, that a student is carrying for a defined academic period. This normally relates to the number of credit hours or clock hours taken by a student during a given academic period. For most traditional undergraduate term-based schools:
    • Full-time status = at least 12 credit hours
    • Three-quarter time status = at least 9-11 credit hours
    • Half-time status = at least 6-8 credit hours.
  • Federal Pell Grant: A grant provided by the federal government to qualified undergraduate students who demonstrate exceptional financial need and have an Student Aid Index below a threshold designated annually by the U.S. Department of Education, based on the amount of program funds appropriated by Congress.
  • Federal Supplemental Educational Opportunity Grant (FSEOG): A grant provided by the federal government to qualified undergraduate students who demonstrate exceptional financial need. Priority is given to Pell Grant recipients and funds must be awarded by the school in lowest SAI order.
  • Federal Work-Study (FWS): A program that provides part-time employment to students attending institutions of higher education who need the earnings to help meet their costs of postsecondary education and encourages students receiving FWS assistance to participate in community service activities.
  • Master Promissory Note (MPN): The binding legal document you sign to receive a student loan. It lists the terms under which you are borrowing & the repayment terms to which you are agreeing. You should read & keep a copy of this document for your records.
  • Scholarship: Gift aid awarded to the student that does not need to be repaid. Scholarship awards are typically based on merit or a combination of merit and need, such as academic excellence, talent, affiliation with various groups, or career aspirations.
  • Student Aid Index (SAI): A measure of how much the student and his or her family can be expected to contribute to the cost of the student’s education for the year. The SAI is calculated according to a formula specified in the law and is based upon the information provided by the student and his or her family during the FASFA filing process.
  • Verification: Process to confirm the accuracy of data provided by the applicant on the FAFSA. In order to complete the verification process, students are required to provide certain documents to the school for review.
  • What if I have changes in my financial circumstances or other extenuating circumstances?
    • Doral College recognizes that an unexpected change in family income or an unplanned expense can have a direct impact on your ability to attend Doral College. For specific information on usual types of special circumstances, refer to Doral College Special Conditions Appeal Form. If you feel you have extenuating circumstances that could affect you or your family’s ability to pay for your education, contact the Financial Aid Office to discuss the situation. If it is determined that a review of your eligibility is warranted, you must submit a Special Conditions Appeal Letter with any appropriate supporting documentation explaining the situation. Please keep in mind that an approval of Special Conditions does not always increase your eligibility for additional assistance.
  • What is verification?
    • Verification is the process schools use to review a student’s Free Application for Federal Student Aid (FAFSA) for accuracy. This is accomplished by collecting and comparing documents used to complete the FAFSA. The federal government randomly selects applicants for the verification process. Doral College may select additional students for verification.

      If you are selected for verification, the Financial Aid Office sends you a notification explaining what additional documents are needed, including Tax Return transcripts and W2 forms. Once you have submitted all required documentation, your file will be reviewed. If our office has additional questions, we may contact you for further information. Based on the review of your information, our office will make the necessary corrections to your FAFSA. Your award is considered an estimated award until the verification process is complete.

      It is the student’s responsibility to reply to our requests for information. We are unable to disburse any financial aid until all documents have been received and reviewed. Failure to respond to our requests will result in a delay in processing financial aid and possible loss of certain types of aid.
  • What if I would like others, such as my parents, to speak to the Financial Aid Office on my behalf?
    • Your financial aid data is confidential and will be discussed only with you and other University offices and agencies as permitted under federal law. If you want other persons or agencies to have access to your financial aid information, you must complete a FERPA Release Form to be kept on file by the Registrar’s Office. The release statement is active until otherwise notified by the student.
  • What is Student Aid Index (SAI)?
    • Your Student Aid Index (SAI) is based on the data you provided on your Free Application for Federal Student Aid (FAFSA). It is the amount that the U.S. Department of Education calculates that you (and your spouse or parents, if applicable) should be able to contribute to your education that academic year. It also determines your eligibility for federal and state grants. A federally mandated formula considers your (and your spouse’s or parents’, if applicable) taxable and nontaxable income, taxes paid, assets, and household size.
  • How is my eligibility for student financial aid calculated?
    • Financial Need: Your financial need is the amount that remains after your SAI is subtracted from the estimated cost of attendance. If the resulting calculation is a positive figure, then you are considered to have financial need. Doral College will attempt to package up to the full amount of your tuition based on enrollment. However, this may not always be possible due to your specific financial need, as determined by the results of your FAFSA. If your SAI is higher than the estimated cost of attendance, you are not eligible for need-based aid, but you may qualify for other types of non-need based aid.
  • What is a Master Promissory Note (MPN)?
    • When you receive a Federal Direct Stafford Loan (or PLUS loan) for the first time, you must complete a Master Promissory Note (MPN). The MPN is a legal document in which you promise to repay your loan and any accrued interest and fees to the Department of Education. It also explains the terms and conditions of your loan. In most cases, one MPN can be used for loans that you receive over several years of study. Go to govand select “Loans and Grants” to complete your MPN.
  • What is Entrance Counseling?
    • Before Doral College can disburse Federal Direct Stafford Subsidized or Unsubsidized Loans, regulations require that you complete an entrance counseling session. The counseling session provides information about how to manage your student loans, both during and after college. Go to govand select “Loans and Grants” to complete your Entrance Counseling.
  • When will my financial aid disburse and when will I receive a refund, if eligible?
    • The financial aid process must be complete before aid can disburse.
    • PLEASE NOTE: Federal Direct Stafford Loans are applied to tuition and fees charges first.
    • After all aid has disbursed, if the student has a credit balance, Doral College will issue any refunds within 14 days.
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