Classes start every 8 weeks
Classes Start Every
8 Weeks
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Frequently Asked Questions

Financial Aid Tuition FAQs

General Information

How is financial need determined?

What is included in a financial award?

When do I need to complete the financial aid process?

How do I apply for a DeVry University scholarship?

How will my financial aid change if I receive a scholarship or grant?

What if I don't qualify for need-based aid?

What if my personal or financial information changes after I complete the financial aid process?

How do I obtain more information about education tax credits?

Student Loans

How much loan money can I borrow?

Do I have to accept all of the loan funds I am offered?

What is the interest rate on a student loan?

What is the difference between subsidized and unsubsidized loans?

How often do I need to complete the Master Promissory Note (MPN)?

The Master Promissory Note (MPN) is good for ten (10) years in most cases.
 

When can I expect my refund check?

Refunds will be processed within 14 days from the date of the resulting credit balance on your student account. If you have not received it after five weeks, please contact us at that time.
 

Status Changes

What happens to my financial aid if I withdraw?

Federal Return of Funds Policy
According to federal regulations, a federal refund calculation must be performed if a student who is receiving financial aid withdraws completely from all classes after the start of the enrollment period.

Length of enrollment is equal to the number of calendar days in the periods in which the student was registered, excluding breaks of five days or more. All days, including weekends and holidays, are counted.

The withdrawal date is the date the student begins the official withdrawal process or otherwise officially notifies the institution of his/her intent to withdraw (electronically, in writing, in person or by telephone, whichever is earlier). For students who withdraw without notification, the school may use either the last date of academic attendance or the midpoint of the enrollment period as the withdrawal date. Failure to notify the Financial Aid Office of a withdrawal may result in additional tuition liability.
    •  If the percentage of the enrollment period completed is 60 percent or more, the         student has earned and must repay 100 percent of the federal aid.
    •  If the percentage of the enrollment period is 60 percent or less, the calculated
        percentage will be used to determine the amount of aid returned.

    Example: 20 percent of the enrollment period completed earns the student 20 percent of     the entitled federal aid.

Federal aid refunds are distributed according to the order below:
1.   Unsubsidized Direct Federal Stafford Loan
2.   Subsidized Direct Federal Stafford Loan
3.   Federal Perkins Loan
4.   Federal PLUS Loan
5.   Federal Pell Grant
6.   Federal Supplemental Education Opportunity Grant (FSEOG)
7.   Other Title IV aid programs
8.   State grants, private or other institutional aid
9.   The student

Tuition refunds are calculated independently from financial aid award (or return) calculations. Official course withdrawal requests must be submitted to the appropriate academic administrator or an online student services advisor either in person or in writing. Review the Academic catalog for complete information regarding withdrawal policies.

If you withdraw from any course before Week 5, your tuition may be reduced in accordance with DeVry University policies. If such a reduction occurs, the amount of adjustment will be returned to your lender as an early repayment of funds. Also, under U.S. Department of Education policy, the amount of expenses to which you are entitled may be prorated if you withdraw from a class. This amount will be calculated from software provided by the U.S. Department of Education; and any amount adjusted will be returned to your lender and charged back to your DeVry University account. Thus, you may have already have received a refund check and an adjustment will be made to your account resulting in a balance. You will be required either to pay that balance before you are allowed to register for your next class or, in some instances, arrangements may be made to pay the balance with funds from your next loan disbursement.

When funds are returned to the lender, it is assumed that a student is no longer attending class and is not returning, so future disbursements are canceled. For that reason, if you drop a class and plan to attend class the following term you should submit a request to the DeVry University Student Finance Office at http://help.devry.edu to have your loan reinstated.

What happens to my loan if I need to take a semester off?

When a student is unable to attend a term, future disbursements are canceled. You must submit a request to have your loan reinstated to the DeVry University Student Finance Office at http://help.devry.edu.