Associate in Arts:

Transition to Newark
What to Expect
with Your Finances

Student Financial Services

Student Billing
Financial Aid Processing
Scholarships/Grants
Loans
Outside Awards

Student Financial Services

- www.udel.edu/askSFS

UD Estimated Costs 2016-2017

by Program/Residency

Tuition/Fees
Housing Costs
Dining Costs
Direct
Costs
Books
Miscellaneous
Indirect
Costs
Total Costs
Student Financial Services
- www.udel.edu/askSFS

AA
Residen
Program
t
$4,014 $12,830
0
7,316
0
4,774

NonResident
$32,250
7,316
4,774

4,014

24,920

44,340

800
3,000

800
1,500

800
1,500

3,800

2,300

2,300

$7,814 $27,220

$46,640
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Financial Aid Types

Scholarships (merit, endowments, or outside)

University merit (awarded at point of admission)
University endowments (automatic process June)
SEED (for AA students)
Outside Scholarships (clubs, orgs, employers, etc.)

University Grants (generally need-based scholarships)

Educational loans
Federal Student Loans
Federal Parent Loans
Alternative Loans

Student Financial Services

- www.udel.edu/askSFS

Financial Aid Process

File the Free Application for Federal Student Aid
(FAFSA)
SEED scholarship recipients already do
Must be filed every year to be considered for
aid
File online at www.fafsa.ed.gov
UDs School Code is 001431
FAFSA helps determine if you qualify for UDs
Commitment to Delawareans funding
Student Financial Services
- www.udel.edu/askSFS

Commitment to Delawareans
Financial Component
UDs aim: Make a UD education affordable to all
qualified residents of our state.
UDs pledge: To meet the full demonstrated
financial need up to the cost of in-state tuition,
fees, a stipend for books, and on-campus room
(traditional room amount) and board of all
Delawareans who file the FAFSA by the deadline.
Cost of attendance = $25,720 (budget less
misc.)
- Expected Family Contribution (from FAFSA)
= Demonstrated financial need
Student Financial Services
- www.udel.edu/askSFS

Commitment to Delawareans
Financial Component
UDs goal: No student will have packaged loans in
excess of 25% of the cost of a 4-year education.
Cost of attendance = $25,720 (budget less
misc.)
- Expected Family Contribution (from FAFSA)
= Demonstrated financial need
- $6,805 Direct Student Loan
- Pell Grant (if eligible)
= University Grant funding
Student Financial Services
- www.udel.edu/askSFS

Commitment to Delawareans
Examples

Medium
High
Low Need

Direct Costs/Books
EFC
Financial Need
Direct Sub Loan
Direct Unsub
Loan
Pell Grant
UD Grant
Total Aid*
Indirect Costs
Total Costs

$25,720
20,000
5,720
5,500

Need
$25,720
10,000
15,720
5,500

Need
$25,720
0
$25,720
5,500

220

1,305

1,305

0
0
5,720
1,500
$27,220

0
8,915
15,720
1,500
$27,220

5,815
13,100
25,720
1,500
$27,220

*Students can borrow up to $7,500 in the Direct Loan Program in their junior and senior years .
Student Financial Services
- www.udel.edu/askSFS

Financial Aid Awards

Provided for fall and spring only
Available mid-July, after new rates announced (fill
out FAFSA in advance: recommended around
4/15)
Winter and summer students are responsible for
fully paying for these elective session; generally
funded through personal resources or loans;
limited scholarships through Study Abroad
programs
If students participate in programs that require
housing costs above a traditional room amount,
UD will only cover the amount up to the
Student Financial Services
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traditional on-campus room amount. Off-campus
- www.udel.edu/askSFS

Loans

Direct Loans (subsidized and unsubsidized)

Fixed at 4.29%; 1.068% origination fee
6-month grace period; 10 year repay

PLUS (Parent Loan for Undergrad. Students)

Fixed at 6.84%; 4.272% origination fee
Optional grace period; 10 year repay

Alternative (private student loans)

Tiered based on credit; grace period changes; 10 year repay

First time federal loan borrowers must complete Master Promissory

Note & Entrance Counseling

Student Financial Services

- www.udel.edu/askSFS

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To-Do List
Shows any action items required to finalize aid
Visible on UDSIS & My Finances Overview tab
Entrance Counseling, Master Promissory Note,
Verification (tax forms), Satisfactory Academic
Progress (2.0 minimum GPA/successfully
complete 67% of coursework)

Student Financial Services

- www.udel.edu/askSFS

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Billing

My Finances is UDs online billing website

Available at www.udel.edu/myfinances

Billing due dates (August 1st for Fall / January 4th for Spring)
Installment Plan pay over 4 months/term

Emails for Billing students can grant access to

parents/guardians so they receive billing communications
as well

If A.A. graduation is delayed through summer or winter

classes, student may have some billing issues (charged A.A.
rates even though on the Newark campus)

Student Financial Services

- www.udel.edu/askSFS

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Scholarships

UD considers all students for endowments each May

Awards are limited and are generally awarded based on donor
criteria

Outside scholarships are available through various clubs,

organizations, associations, employers
Students are encouraged to check with affiliated groups
Students can also search online scholarship databases
http://www.finaid.org/scholarships/other.phtml
http://www.fastweb.com
https://bigfuture.collegeboard.org/scholarship-search
https://mycollegedollars.hyfnrsx1.com
Delaware Scholarship Compendium
www.delawaregoestocollege.org

Student Financial Services

- www.udel.edu/askSFS

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For Additional Information

Contact Student Financial Services
Website: www.udel.edu/sfs
FAQs and Online Contact Form:
www.udel.edu/askSFS
Phone: 302-831-2126
In Person: Student Services Building, 30 Lovett
Avenue
Student Financial Services
- www.udel.edu/askSFS

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