DePauw looks at the family as the primary source of college funding and understands most families must finance such an investment over a series of months or years.
Eligibility for financial assistance is determined by the Free Application for Federal Student Aid (FAFSA). The financial aid office will review your family's Student Aid Index (SAI) as determined by the FAFSA to calculate the amount the family could be expected to invest in educational costs from current income and supplemental borrowing.
Financial need is defined as the Cost of Attendance (COA) minus the Student Aid Index (SAI). The cost of attendance is the sum of direct and indirect costs (see our Tuition and Fees page for more information).
Factors used to determine the SAI include:
Factors that we do NOT consider are:
The types and amounts of financial aid offered to a student are dependent on the financial need that the family demonstrates. Although we cannot guarantee to meet the full demonstrated need for all students, we will strive to provide funding options that make it possible for admitted students to attend.
We are members of the and follow their code of conduct. We invite you to contact us if you have any questions.
An institutional financial aid professional is expected to always maintain exemplary standards of professional conduct in all aspects of carrying out his or her responsibilities, specifically including all dealings with any entities involved in any manner in student financial aid, regardless of whether such entities are involved in a government sponsored, subsidized, or regulated activity. In doing so, a financial aid professional should:
As an institution participating in the federal student loan program and in compliance with the 2008 Higher Education Opportunity Act (HEOA), DePauw has created and adopted and Educational Loan Code of Conduct. To prohibit a conflict of interest with respect to student loans, it directs all employees, officers or agents who have responsibilities pertaining to educational loans to adhere to the policies found here.
Federal regulations require colleges to consider all educational financial assistance to be calculated in determining student eligibility. Financial assistance includes but is not limited to grants, loans, scholarships, waivers, fellowships/assistantships, work study, specific Veteran educational benefits, and similar programs used to cover postsecondary educational expenses. When a student receives more aid than his/her financial need or the cost of attendance, the result may be an overaward.
Overawards must be resolved and may result in funds being returned to an aid program and a student owing the University money.
The Financial Aid Office typically adjusts overawards for students who are over need and for those students who exceed their cost of attendance prior to aid being disbursed.
If, however, a student receives additional resources after all awarded aid is disbursed, we will adjust aid as necessary in order for a student to remain best eligible for each aid program awarded.
Federal regulations require that all outside scholarships (and tuition benefits) be reported to the Financial Aid Office and considered when determining eligibility for financial assistance.
Outside scholarships are first applied toward any unmet financial need. When necessary, self-help portions of the financial aid package (student loans and student employment) are reduced to stay within financial need. In rare cases, some grants and scholarships may be reduced if an outside scholarship requires need-based eligibility and all self-help aid has been eliminated from a student's financial aid package.
Merit scholarships from DePauw are restricted to tuition expenses. Outside scholarships that are also restricted to tuition may reduce the amount of merit scholarship should the combined total exceed the cost of tuition.
Under no circumstances can the combined total of all financial assistance awarded, including outside scholarships, exceed the full cost of attendance (tuition, fees, housing, meals, indirect costs) established for each student.
Outside scholarships are credited to the student account after the Financial Aid Office receives the funds to forward to the Payment Services. Unless specified by the scholarship agency, all outside scholarships are applied in two installments: one-half in each semester, fall and spring. Pending outside scholarships do not reduce the amount of the bill with Payment Services until they have been received and processed.
Federal Pell Grant is a grant awarded based on the Free Application for Federal Student Aid (FAFSA) from the federal government. Pell grants are determined per federal guidelines and are strictly regulated through federal legislation.
Students may be awarded a Pell Grant in their financial aid notification (FAN) based on their initial Student Aid Index (SAI) as calculated by the FAFSA. 69ɫƵ typically awards this initial Pell Grant assuming full time enrollment, unless the student has otherwise notified the financial aid office of enrollment plans of less than full time.
The financial aid office uses a Pell Recalculation Date (PRD) each semester to evaluate your Federal Pell Grant eligibility based on your current enrollment status. If the Pell grant you were initially awarded does not match your current enrollment status as of the PRD, your award will be adjusted accordingly.
The PRD used by DePauw will be the day following the “Adjustment Period” for each term. To find the adjustment period for each term, please view the academic calendar.
Any classes added after the PRD will not count towards your Federal Pell Grant eligibility, regardless of the start date for the class.
For students enrolled in credits less than full time, their Federal Pell Grant will be calculated using enrollment intensity. This means that your Pell Grant eligibility will be prorated based on your credits enrolled compared to full time. Each quarter credit under three credits of enrollment will adjust the amount of the Pell Grant.
Satisfactory Academic Progress (SAP) is used to determine financial aid eligibility and academic standing. The main goal of the SAP system is to make sure that all degree-seeking students are making timely progress toward earning a degree.
Although DePauw’s SAP standards address academic standing at the university and general eligibility for financial assistance, students should note that scholarship and grant assistance from DePauw and from state agencies is limited to eight semesters. Additionally, all University merit and private scholarships have specific GPA criteria (outlined in the scholarship award letter) that must be met in order to maintain eligibility for those specific awards.
To graduate from DePauw with a Bachelor of Arts requires 31 course credits and a minimum 2.0 GPA, cumulative and in the major. The Bachelor of Music Degree, Bachelor of Musical Arts degree, or Bachelor of Music Education Degree requires 36 course credits with a 2.0 cumulative GPA. The dual degree Bachelor of Music/Bachelor of Arts requires 43 credits.
Students pursuing the Bachelor of Arts, Bachelor of Music, Bachelor of Musical Arts, and Bachelor of Music Education degrees are expected to complete their degrees in eight semesters; students in the dual degree Bachelor of Music/Bachelor of Arts program have ten semesters to complete the degrees.*
Students who withdraw from the university for one or more semesters will not have those semesters count towards expected progress.
There are four SAP statuses:
Two primary measures are used to determine SAP status: academic performance as measured by grade point average and progress toward the degree as measured by earned college credits applicable to the degree. GPA is referred to as aqualitative measure; credits earned as aquantitative measure. The quantitative measures include both credits earned and percentage of credits attempted that are earned. The qualitative measures include both cumulative and major GPAs.
DePauw uses a graduated scale of minimum standards students must achieve to be in satisfactory standing.
|
Semester Completed |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
|
Minimum Cumulative GPA |
1.5 |
1.7 |
1.9 |
2.0 |
2.0 |
2.0 |
2.0 |
2.0 |
|
Major GPA |
2.0 |
2.0 |
2.0 |
2.0 |
2.0 |
|||
|
Minimum Credits Earned |
2 |
5 |
9 |
13 |
17 |
21 |
25 |
29 |
|
Percent of Attempted Earned |
50% |
75% |
75% |
75% |
75% |
75% |
75% |
75% |
Full-time students must earn at least 2.0 course credits and at least a 1.0 GPA each primary term (Fall and Spring). Students who fall below either of these primary term minimums are suspended.
At the end of each primary term, student performance is reviewed by members of the Financial Aid and Registrar’s offices. Students who are meeting the above minimum standards are judged to be making satisfactory academic progress toward a degree.
Students who have been doing satisfactorily and then fall below any of the above standards are given awarningto improve performance. If they fail to meet the benchmark for the next semester or perform below the minimums for the primary terms, they aresuspended.They may appeal the suspension (see Appeals Process below) or apply for readmission after spending some time away from DePauw.
Students who successfully appeal suspension are placed onprobation.In most cases, they will have one probationary semester to bring their performance into line with the satisfactory academic progress standards. If they fail to do so they are again suspended. However, some students who come close to reaching the target may be continued on probation upon appeal.
SAP progress is evaluated at the end of the Fall and Spring primary terms in order to give students who are suspended a chance to submit an appeal before the beginning of the next semester. Status determinations are provisional until the extended term is completed.
Students who are suspended for failing to meet SAP guidelines may appeal their suspension in writing to the Academic Standing Committee, which includes representatives from the faculty, Academic Affairs, Student Affairs and Financial Aid. Usually, appeals are heard approximately two weeks after grades for the primary terms have been posted (approximately January 15 and June 10). In the appeal the student presents his/her case for continuing. If the student is behind in credit earned, the appeal should include a plan for catching up, which may include taking courses elsewhere over the summer. If the student has fallen below the minimum GPA standards, the appeal should include a plan for improving performance. Note that course work done elsewhere or online does count toward the quantitative, but not the qualitative measures, because course work done elsewhere does not count into DePauw GPAs.
Students who successfully appeal a suspension may continue on probation in the following semester. Those whose appeals are denied may apply for readmission after being away for a minimum of one semester.
DePauw’s academic calendar consists of two semesters each of which has a primary term and an extended term. Semester I includes Fall and Winter terms; Semester II Spring and May terms.
(Approved by DePauw Faculty, Sept. 8, 2014)
Students who are dismissed academically are not eligible to receive financial assistance. In cases where students are allowed to return, financial assistance is NOT automatically reinstated. Students must meet all SAP standards as defined above. If below the standards, such students must follow the appeal process or use means other than financial aid for educational expenses.
Students are not eligible to receive financial aid for audit courses. Audited courses are not included in the number of credits attempted or earned for SAP determination and no grade is received.
If a student changes major, all credits attempted, including those taken toward the prior major will be counted when calculating the cumulative GPA. These credits will also be counted in the credits attempted versus credits completed calculation.
Once students have completed all academic requirements for a degree, they are ineligible for any further financial aid, Federal or otherwise.
A grade of P, U or W counts as credits attempted and completed, but is not calculated in the cumulative GPA.
Any student that finishes a semester earning a grade of F in all courses will immediately lose eligibility for financial aid regardless of the cumulative GPA. Students must appeal to have eligibility reinstated for a probationary period.
Any course with I (Incomplete) or L (Deferred) is counted in credits attempted (quantitative) but not completed. After an actual grade is assigned, SAP standards are reevaluated at the end of the next primary term based on the grade(s) earned and completed credits, if applicable.
A student that chooses not to appeal, or whose appeal is denied, will regain eligibility once the minimum standards for GPA and/or completion ratio are achieved. The student should contact the Financial Aid Office when standards are reached.
Only the second grade counts toward the cumulative GPA. Repeated courses always count as credits attempted. However, students may only earn credit for a successfully completed course once. Therefore, repeating courses to improve a grade may negatively affect a student's ability to maintain the quantitative standard of SAP.
Credits accepted for transfer will be included in attempted credits and completed credits. Grades received for transfer credits will not be computed in the cumulative grade point average. Transfer credits are also applicable toward the number of semesters when determining maximum time frames for institutional awards. Every four course credits accepted for transfer counts as a semester of eligibility.
Any course with a "W" is considered as credits attempted. Students should be aware that excessive withdrawals from classes could result in the loss of financial aid at some point in future semester due to quantitative standards for SAP.
Students and their families may face situations where the original application information does not accurately reflect their current circumstances and ability to pay for college. When students apply for financial aid, the financial data elements on the Free Application for Federal Student Aid (FAFSA) reflect the earnings of students and their parents, as reported on their federal income tax, from nearly two years ago.
The FAFSA is considered to be a "snapshot" of the family's financial situation as of the date it is submitted. The Student Aid Index (SAI) is calculated according to a federal formula that uses the household and financial information to determine a student/and or family's financial strength.
Even if you feel the FAFSA will not reflect changed financial circumstances (loss of job, reduction in earnings, etc.) in the current year, complete the FAFSA as requested. DePauw has an institutional process to handle changes in the family's financial situation. Students may submit a special circumstances request by emailingfinancialaid@depauw.eduand detailing your family's extenuating circumstances. Your request will be forwarded to your financial aid counselor to review and additional information for documentation may be required. Please allow up to two weeks for review and processing.
Unusual Circumstances refer to the conditions that justify an aid administrator making an adjustment to a student's dependency status based on a unique situation (e.g., human trafficking, refugee or asylee status, parental abandonment, incarceration), more commonly referred to as a dependency override.
Students with unusual circumstances should contact the financial aid office atfinancialaid@depauw.eduor765-658-4030. The student will be put in touch with their financial aid counselor to review their unusual circumstance. Additional information and documentation may be required.
Verification is a federal process regulated by the US Department of Education to confirm information provided on the FAFSA - Free Application for Federal Student Aid. Verification selection can be random or can be driven by incomplete, estimated or inconsistent data that is reported on the FAFSA. The U.S. Department of Education selects some students for the verification process. DePauw may select others if we find conflicting information. Regulations detailing the verification process may be found in the
The priority deadline for federal aid is March 1st. The Financial Aid Office issues requests for additional information if a student is selected for verification and follows up with a final request. Students must submit all verification documentation at least two weeks prior to the end of each semester in order to qualify for federal funding in that semester. If the student fails to complete the verification process, the file will remain incomplete and federal aid will not be awarded.
If a student is selected for verification after aid has been determined, the student must complete the verification process within the same time frame in order to remain eligible for federal funds. If the student's eligibility for aid changes due to the verification process, the aid will be recalculated.
The following types of documentation may be requested to satisfy verification requirements:
The Financial Aid Office will specify which documents are required based on specific responses in the FAFSA and other documentation in the file.
If any of the persons required to report information on the FAFSA will file but hadn't filed a tax return at the time of application, they would have used an estimated AGI (Adjusted Gross Income) on the FAFSA. If, at the time of verification, the necessary tax returns have not yet been filed and a filing extension was granted by the IRS, the school shall accept as alternative documentation copies of the W-2 forms, and, as proof that the IRS has granted a filing extension, either a copy of IRS Form 4868-Application for Automatic Extension of Time to File U.S. Individual Income Tax Return (automatically grants the taxpayer a six month extension beyond the April 15 deadline) or a copy of the IRS approval of an extension beyond the automatic six month extension.
In addition to supplying the above documentation, the student must submit a copy of the tax returns when filed. When the Financial Aid office receives the completed tax returns, we will use them to re-verify the required data. A student who fails to submit a copy of the filed tax return or alternative documents before the deadline for which the verification is due, is ineligible for FSA funds and is required to repay any aid disbursed.
Upon completion of the verification process, if the student feels an error has been made the student may contact our office to request the file be reviewed again. If the student provided incorrect information, the student will need to submit in writing the correction and request that the file be reviewed again.
All students, except graduating seniors, who are leaving the university are requested to notify personnel in the Office of the Registrar or the Office of Student Affairs.
Any student who has received student loans must complete an exit interview as timely as notified by the Financial Aid Office.
Withdrawal notifications are initiated by the Office of the Registrar or Student Affairs. The withdrawal form includes: reason for withdrawal, last day of attendance, last day on campus. Medical withdrawals are reviewed by a committee before sending decision notifications to the Office of the Registrar. A staff member in the Office of the Registrar processes the withdraw and codes the students as withdrawn and notifies the appropriate individuals and offices, including the Financial Aid Office. Unofficial withdrawals are brought to the attention of the Office of Registrar by faculty – who have the authority to request administrative withdrawal for non-attendance.
A student who withdraws during the semester will receive an adjustment to tuition on a per diem proration (number of days enrolled divided by number of days in the semester) through 60 percent of the primary term. No refunds will be processed after 60 percent of the primary term has been completed. There is no refund of the student comprehensive fee.
There are no adjustments to the housing charge. Housing and Residence Life may charge a $250 contract cancellation fee. Meal Plan charges will be adjusted based on usage throughout the primary term.
A student who withdraws during a semester and is receiving financial aid will have a per diem proration adjustment made to non-federal financial assistance.
Federal law specifies how to determine the amount of federal assistance to be retained by a student who withdraws during a semester. The amount of federal assistance to be retained is determined on a per diem proration. For example, if a student completes 30 percent of the semester, 30 percent of federal assistance can be retained on the student's account. The unearned funds will be returned as soon as possible, but no later than 45 days from the determination of a student's withdrawal.
If a student received less federal assistance than the amount the proration determines can be retained, all federal funds previously applied toward university charges remain on the student's account. For example, if a student received more federal funds than the proration determines can be retained, the excess federal funding must be returned to the appropriate federal program(s) and the student's account will be charged for the refund(s).
When more than 60 percent of the semester is completed, 100 percent of the federal Title IV funds is considered "earned" and will not be returned to the funding source.
If a student received excess federal funds according to the proration, the university must return a portion of the excess equal to the lesser of:
The order of federal programs to receive excess federal funds is:
If excess federal funds remain after the university has repaid federal programs, the remaining funds must be repaid by the student to specific federal programs in the same order listed above. However, in case loan funds are to be returned, the student (or the student's parent for a PLUS Loan) repay the lender in accordance with terms of the promissory note. That is, the student makes scheduled payments to the lender over the agreed upon time period, usually 10 years or a minimum $50 monthly payment.
If the student is responsible for returning grant funds, the full amount does not have to be returned. The law requires repayment of 50 percent of excess grant assistance by the student and the student must agree to repay the excess grant assistance within one year after receiving notification of the obligation. Repayment is made by the student to the university who will repay the appropriate federal program. The student is ineligible to receive additional federal assistance if repayment has not been made within the year.
Federal funds are considered to be the first payment toward tuition, fees and housing charges. Unless federal funds exceed adjusted institutional charges, the student will not be required to repay funds to the federal programs. Generally, excess federal funds will be repaid to the appropriate federal program by the university and charged to the student's account.Credit balances generated by federal funds must be refunded as soon as possible and no later than 14 days after the calculation of R2T4.
If the student receives less federal student aid than the amount earned, the school must offer a disbursement of the earned aid that was not received. In other words, if all requirements for eligibility of a federal loan or grant program had been met but the aid had not yet disbursed at the time of the student’s withdrawal, the student may be eligible for a disbursement of federal aid after withdrawal. This is known as a post-withdrawal disbursement.
Any federal grant funds that were earned, but not yet applied to the student’s account, may be applied to the student’s allowable charges without written authorization from the student. All federal grants must be disbursed within 45 days of the date that DePauw determined that the student withdrew.
In order to have federal loan funds applied to the account that were earned, but not yet disbursed, the school must get authorization from the student (in cases of Federal Direct Loans) or the parent (in cases of Federal Direct PLUS loans). An authorization form must be sent from the school to the student/parent within 30 days of withdrawal if the student is eligible for a post-withdrawal disbursement. The student/parent has at least 14 days to respond and accept or decline the funds, and the school has 180 days to disburse the Federal Direct Loan funds or Federal Direct PLUS Loan funds. The information provided in this notification must include the information necessary for the student, or parent for a Direct Parent PLUS Loan, to make an informed decision as to whether the student or parent would like to accept any disbursement of loan funds and must be provided within 30 days of the date of a school’s determination that a student has withdrawn. In addition, the notice must request confirmation of any post-withdrawal disbursement that the student or parent, as applicable, wishes the school to make.
All post-withdrawal disbursements are applied to the student account first.Credit balances generated by federal funds must be refunded as soon as possible and no later than 14 days after the post-withdrawal disbursement funds have created an overage on the student account.