Financial Aid helps bridge the gap between what students and their family can pay and what it costs to attend Dunwoody. Most Dunwoody students receive some form of financial aid, including federal and state grants, federal loans, and work study. The Financial Aid Office works with students to pay for college.
The Financial Aid Office at Dunwoody College of Technology is a member of NASFAA, the National Association of Student Financial Aid Administrators. We abide by NASFAA’s Code of Conduct for Institutional Financial Aid Professionals.
Types of Financial Aid
Students may be eligible for numerous scholarships offered by Dunwoody College and other organizations. To be considered for these scholarships, a completed 2017-2018 FAFSA form must be on file with the Financial Aid Office. For details, contact Financial Aid at 612.374.5800 or firstname.lastname@example.org.
Federal: The FAFSA will determine your eligibility for the Federal Pell Grant. The maximum Pell Grant award for the 2017-2018 academic year is $5,920.
State: The FAFSA and Minnesota State Grant Program Student Eligibility Questionnaire will determine your eligibility for the MN State Grant (amounts vary).
Work study provides part-time jobs for students with financial need allowing them to earn money to help pay education expenses. You must complete a FAFSA to determine if you are eligible for work study.
Federal: The FAFSA will determine your federal loan eligibility. For more, visit studentloans.gov.
- Subsidized: $3500 1st year students; $4500 2nd year students; $5500 3rd and 4th year students
- Unsubsidized: $2000 for 1st and 2nd year dependent students; $6000 for 1st and 2nd year independent students; $7000 for independent 3rd and 4th year students
Students who wish to borrow any Federal Direct Subsidized and/or Unsubsidized Loan funds must complete the Direct Loan Entrance Counseling and Master Promissory Note prior to the funds being applied to the student account.
To complete these steps please visit www.studentloans.gov and sign in using the Student FSA ID and password created for higher education purposes (this is the same FSA ID and password used to complete the FAFSA).
Additional Financing Options
DUNWOODY PAYMENT PLAN
A monthly payment plan may be used to help pay any out of pocket costs. The plan allows students to pay for the semester of tuition and related expenses in four equal installments. The first payment is due the first day of school. Consecutive payments are due Wednesday of week 5, week 9, and week 13. No interest is charged if payments are made on time; there is a $50 enrollment fee each semester.
For more information about the payment plan please contact Student Accounts at email@example.com.
Direct PLUS loans and alternative loans are more expensive than federal government loans and should be used only when all other options have been exhausted. It is important for students to complete a FAFSA annually to ensure their eligibility is calculated for federal loan, grant, and work study programs before they borrow from an alternative loan program.
DIRECT PLUS LOAN
The Direct PLUS loan is a federally guaranteed loan available to the parents of dependent undergraduate students who are attending at least half-time. The PLUS loan lets parents borrow money to cover any costs not already covered by the students’ financial aid package, up to the cost of attendance. PLUS loans are the financial responsibility of the parents and cannot be transferred to the student.
This loan has a fixed 6.31% interest rate (7/1/16-6/30/17) and an approximate 4% origination fee. Repayment on this loan will begin immediately after it is fully disbursed unless the borrower elects to defer payments until 6-months after their student has graduated or drops below half-time enrollment.
- The student must have completed a Free Application for Federal Student Aid (FAFSA).
- Must be the biological parent or legal guardian of an undergraduate student. Step parents can apply if their information is provided on an accepted FAFSA.
- Must be a U.S. citizen or permanent resident.
- Must not be in default on a prior student loan.
To apply visit www.studentloans.gov and sign in using the Parent FSA ID created for higher education purposes.
*If the parent applies for the PLUS loan and is denied, the student may qualify for additional federal loans. Please contact the Financial Aid Office for details at firstname.lastname@example.org.
Alternative loans are credit-based loans used to assist in paying for a higher education.
These loans are for students to take out with a credit-worthy co-signer. Some lenders also offer a Parent loan for parents or others to borrow to assist with any costs not already covered by the students’ financial aid package up to the cost of attendance.
Interest does accrue from the first date of disbursement but payments may be deferred until six months after the student ceases enrollment. The terms of each loan vary by lender. It is highly recommended that students borrow their full Federal Loan eligibility before borrowing a private loan. You can find a lender by visiting the FASTChoice website.
Some private loan lenders will borrow to students with non-citizenship status with a U.S. citizen co-signer.
Access your Financial Aid
Dunwoody will email students at their Dunwoody email address when his or her financial aid award offer is generated and is available to view online at Financial Aid Access. Students are responsible for viewing their online account to determine if the Financial Aid Office needs any further documentation to finalize the award offer and to accept/decline their award.
Dunwoody email is the official communication method for Dunwoody and no paper award offers will be mailed to students. Failure to review and award offer or missing documentation does not constitute a valid reason for not paying a tuition bill on time.
Financial Aid Disbursements
One half of the annual comprehensive fee will be billed prior to the start of each semester and one half of the student’s annual financial aid (except work study) will reduce this charge. Federal aid remains pending until 10 days before the first day of class each semester.
Track your Schedule
Please review your schedule to identify your total credits per semester and how it affects your financial aid.
- Full-time student: 12 credits or more
- 3/4-time student: 9-11 credits
- Half-time student: 6-8 credits
If you are taking less than 6 credits, you are considered a less-than-half-time student. Less-than-half-time students are not eligible for loans and it may affect their grant eligibility.
- Veteran Benefits: Students who receive veteran’s benefits are responsible for any books they charge to their account as well as any charges that are not covered by VA benefits and/or Yellow Ribbon.
- Outside Resource/Funds: The Financial Aid Office must be notified of any outside resources or funding that a student receives. This includes outside scholarship. Please contact Financial Aid with questions.
- Scholarships: Dunwoody’s Financial Aid Office has internal scholarships that they award to students. To be considered for these scholarships students must complete the FAFSA form. If awarded, students must submit a Thank You Letter to the Financial Aid Office by the appropriated deadline before the funds can be applied towards a student’s balance.
- How Drug Convictions Affect Financial Aid Eligibility: A federal or state drug conviction (but not a local or municipal conviction) can disqualify a student for FSA funds. For details, view the Drug Convictions & Financial Aid Eligibility policy.