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Next Quarter Starts July 14th, 2014

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Financial Aid

 

 

 

 

 

 

 

 

 

 

 

What are my options?
At Duluth Business University, our mission is to help every qualified student achieve his/her dream of higher education. And since the financial aid needs of each student are diverse and complex, the DBU Financial Aid Advisor will work with you to provide guidance to help you identify and understand the many options available to eligible DBU students. You can begin by exploring the links below and at any time, call 800-777-8406 for a private appointment with a DBU Admissions and Financial Aid Counselor to answer your questions. Classes begin quarterly so the sooner you get started, the sooner you’ll be prepared to launch a new career.

Duluth Business University Virtual Financial Aid Office (VFAO)
This site is designed to help you get started applying for financial aid on your own time from the comfort of your own home.

Free Application for Federal Student Aid (FAFSA)
This office of the U.S. Department of Education ensures that all eligible individuals can benefit from federally funded financial assistance for education beyond high school.

Federal Student Aid Gateway
The Student Aid Gateway is a portal for free information, guidance and tools for federal student assistance from the U.S. Department of Education's Office of Federal Student Aid.

Financial Planning Made Simple

Financial Aid Estimator
This tool will help estimate your eligibility for a Federal Pell Grant, Minnesota State Grant, and federal education tax benefits. The estimator is based on the federal calculation of your Estimated Family Contribution and the tuition and fees for program selected.

Net Price Calculator

Student Budget Calculator
This tool calculates the difference between your expenses and income, to help identify if/when you are spending beyond your means.

Federal Loan Repayment Calculator
This worksheet will help you estimate college expenses and help you balance a college budget.

FASTchoice
Alternative Loans

DBU is an eligible institution approved by the Department of Education for participation in the following programs:

  • Federal Pell Grants
  • Federal Supplemental Educational Opportunity Grants (SEOG)
  • Federal Direct Loans
  • Federal Direct PLUS Loans
  • Federal College Work-Study Program (FWS)

DBU is an eligible institution approved by the state of Minnesota for the following programs:

  • Minnesota State Grant
  • Minnesota College Work-Study Program
  • Minnesota SELF Loan Program
  • Minnesota Indian Scholarship

Additional funds may be available through:

  • Department of Rehabilitation Services (DRS)
  • Minnesota Indian
  • Job Training Partnerships ACT (JTPA) WIA-Workforce Investment Act
  • Veterans Affairs (VA)

Other outside financial resources must be reported to the Financial Aid Office. The Financial Aid Office is not responsible for locating these funds. Separate applications may be required. Students should refer to "The Student Guide" printed by the U.S. Department of Education for more detail on individual aid programs. Financial aid is granted on the basis of financial need as determined by the Pell Grant Formula and the Congressional Methodology established by the U.S. Department of Education. All federal grants, loans, the Minnesota Grant Program, and the Minnesota College Work Study Program require submission of a Free Application for Federal Student Aid (FAFSA) for need analysis.

Do I need to be a full-time student to be eligible for financial aid?
Students need to be enrolled at least half-time to be eligible for financial aid and making satisfactory progress toward completion of an eligible course of study.

Can I receive financial aid or get student loans if I don’t have a job?
Financial aid is granted on the basis of financial need as determined by the Pell Grant Formula and the Congressional Methodology established by the U.S. Department of Education. All federal grants, loans, the Minnesota Grant Program, and the Minnesota College Work Study Program require submission of a Free Application for Federal Student Aid (FAFSA) for need
analysis.

Campus-based funds, such as SEOG and the College Work Study Award, are awarded to eligible students on a first-come, first-serve basis until funds are exhausted.

Will I be eligible for aid or student loans if I have bad credit?
Yes, Direct Loans are guaranteed by the federal government. You will not be eligible if you are already in default on any existing student loans.

Can I get additional student loans if I already have outstanding student loans?
Yes, as long as you are not in default and are enrolled at least half-time.

When do I start repaying my loans and how long will I have to repay them?
Repayment will begin 6 months after you are no longer in school or if your enrollment drops below ½ time. Repayment length will depend on the repayment program, but it will be at least 10 years.

What assistance can I receive as a military veteran (GI Bill)?
There are several programs depending on your military service. Please visit GIBill.gov

Are there scholarships available?
A variety of scholarships are available to new and returning DBU students who meet the eligibility requirements.

Imagine America ASEP and Imagine America Military
The Imagine America Scholarships are $1000 towards your education.  The scholarships will be awarded as follows: winter, spring and summer – 10 scholarships; fall – 20 scholarships

Eligibility Guidelines:

  • Student needs to enroll before September 1 for fall start, December 1 winter start, March 1 for spring start, and June 1 for summer start;
  • FAFSA and VFAO Interview need to be completed;
  • Award amounts are designated for tuition only and are divided into increments according to how many quarters are in the student’s particular program;
  • Students must also watch the “Financial Plan Made Simple” tutorial to be eligible for these scholarships.  When applying make note of your ID #, this is needed to complete the tutorial.

The proceeds of the scholarship will be disbursed on a quarterly basis and will be applied to the student’s account at the completion of each quarter

Scholarships are applied to the student’s account at the completion of each quarter.  The scholarship will be disbursed in increments according to the number of quarters in the student’s particular program.

 

 

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