DULA is approved to offer Title IV Federal Student Aid. A part of the U.S. Department of Education, Federal Student Aid is the largest provider of student financial aid in the nation. Federal Student Aid is responsible for managing the student financial assistance programs authorized under Title IV of the Higher Education Act of 1965. These programs develop the Free Application for Federal Student Aid (FAFSA®) and offer free assistance to students throughout the entire financial aid process.
Currently financial aid is only offered for our MSOM program. For more information or to schedule an appointment, please contact the Financial Aid Officer at (213) 487-0110. Please also refer to the Program Catalog for more information of Financial Aid.
TYPES OF FINANCIAL AID
Types of Financial Aid Available to DULA Students
Federal Title IV funds are a combination of grants and loans. Loans are borrowed money and must be paid back; grants do not have to be repaid. The University participates in and receives funding from the following Federal Title IV programs:
Federal Pell Grant
Aid awarded to undergraduate students who demonstrate financial need. For financial aid purposes, an undergraduate student is a student who has less than a cumulative 120 semesters or 180 quarter credit units and has not received a bachelor’s or any other type of professional degree, regardless of the country of origin. As this is a grant, it does not need to be repaid.
Federal Direct Subsidized Stafford Loan
Need-based, fixed, low interest rate loans available to dependent and independent undergraduate students who demonstrate financial need. Repayment begins six months after graduation or six months from the time the student drops below half-time enrollment or withdraws from school. The government pays the interest while the student is attending school and during the six-month grace period.
Federal Direct Unsubsidized Stafford Loan
Non-need-based, fixed, low interest rate loan available only to independent undergraduate and graduate students. Repayment begins six months after graduation or six months from the time the student drops below half-time enrollment or withdraws from school. The government does not pay the interest while the student is attending school or during the grace period; therefore, the student is responsible. Interest begins accruing when the loan funds are disbursed. The student may elect to pay the interest while attending school or have the interest capitalized (added to the principal loan amount when the loan goes into repayment).
Loan amounts: The maximum annual loan amount for independent undergraduate students is US $12,500. Of this amount, US $5,500 is a direct subsidized loan and US $7,000 is unsubsidized. The maximum annual loan amount for graduate students is US $20,500. Of this amount, US $8,500 is a direct subsidized loan and US $12,000 is unsubsidized.
Federal PLUS (Parent Loan for Undergraduate Students) Loan
Non-need-based, fixed, low interest rate loan available to graduate students and parents of dependent undergraduate students. These loans are issued based on the parent’s or graduate student’s credit worthiness, and interest begins accruing once the loan funds have been disbursed. The loan enters repayment once it has been fully disbursed. For graduate students, the loan is automatically placed in a deferment status if the student is enrolled for at least six months, and for an additional six months after they are no longer enrolled or attend on a less than half-time basis. The PLUS loan amount is determined by the student’s cost of attendance, minus any other financial aid the student is receiving.
Students can inquire about current work study opportunities offered by the University. Please ask your Program Director for more information about work study.
Please refer to our institution’s scholarship page for more information. Qualifications for scholarships are primarily based on financial necessity, academic merits and strength of essay. Contact the office of the Dean of Academic Affairs (firstname.lastname@example.org) for additional information.
HOW TO APPLY + ELIGIBILITY
Students wishing to obtain a Federal Direct Student Loan must complete the following steps:
- Apply for an FSA ID. To create an FSA ID, go to www.fafsa.ed.gov. Click on the “Create an FSA ID” link. After filling in the required information, please make sure to confirm your email address.
- Complete and submit the latest FAFSA application at www.fafsa.ed.gov. DULA’s school code is 031095
- Complete Online Entrance Counseling. This is required of first time borrowers. Go to StudentLoans.gov, sign in, and go to Counseling→ Entrance Counseling.
- Complete and sign your Electronic Master Promissory Note (MPN). To do this, go to StudentLoans.gov, login, and go to Complete New MPN for Student Loans → Subsidized/Unsubsidized. You must complete this MPN all at once. If you exit prior to completing it, your changes will not be saved. Make sure you have your FSA ID available, as well as two references (names, addresses, and phone numbers). These should be people who have known you for at least one year (preferably relatives) and who live at different addresses.
- Complete your DULA Financial Aid Application packet, including:
- Financial Aid Application
- Disbursement of Federal Funds and Credit Balances
- Federal Student Aid Policy
- Bring the following required documents to the Financial Aid Office:
- Driver’s License
- Social Security Card (if applicable)
- INS Documentation (if applicable). For citizens: Passport, Naturalization Certificate, or birth certificate. For eligible non-citizens: Green Card
For more information on financial aid or to schedule an appointment (again, once you have been admitted and have entered into a DULA Enrollment Agreement), please contact the Financial Aid Officer at (213) 487-0110.
Please note: As mentioned above, and notwithstanding the immediately foregoing, all students, including financial aid students, must comply with the University’s Leave of Absence Policy and Satisfactory Academic Progress Policy, as set forth more fully under the appropriate informational heading locatedelsewhere in the program catalog.
In addition, Financial Aid personnel are professionally and ethically bound by the Federal government. Therefore, they may use their Professional Judgment to either deny certain Federal Financial Aid or refuse to certify a student’s loan application.
Students wishing to obtain financial aid must meet the following requirements:
- The student must be a citizen or an eligible non-citizen of the United States of America.
- The student must be enrolled on at least a half-time basis (6 units) for each quarter for which they would like to receive financial aid.
- A male student between the ages of 18-25 must be registered with the Selective Service.
- Older students must have been registered during this age period.
- Females and students born before 1960 are exempt from this requirement.
- The student must maintain SAP (satisfactory academic progress) as defined by school policy while in attendance.
- The student must complete verification if required, prior to funds being disbursed.
- Not owe any refunds on a Pell Grant or other awards received and not be in default on repayment on any type of student loan.