Financial Aid Awards

The Office of Financial Aid will begin notifying students of their financial aid eligibility for each academic year according to the following schedule:

INCOMING STUDENTS

For admitted students who have their FAFSA results to us by March 1, an initial award should be available by the first of April. If we receive your FAFSA results after we begin awarding, you can generally expect to receive your financial aid award within 7-10 business days.

RETURNING STUDENTS

On-time financial aid applicants (FAFSA results here by May 1) who have met the standards for academic progress, should have awards available by mid-June. Awards will be viewable on Porches.

If we receive your FAFSA results after May 1, you will be considered a late applicant and will be awarded after the on-time applicants. Being a late applicant can put you in jeopardy of losing need-based funds.


Adjustments

Per federal regulations, financial aid awards may be adjusted throughout the school year as changes occur in your enrollment status, academic standing or in the program eligibility itself. If your aid is adjusted due to one of the reasons listed below you will be notified via e-mail.

ENROLLMENT STATUS
Unless enrolled as an ADAP student, undergraduate students are generally awarded financial aid based on being a full-time student (taking at least 12 hours per term). If you anticipate carrying less than 12 credit hours during any semester or need to drop below full-time status during the semester, we encourage you to speak with a financial aid counselor to discuss your eligibility as a part-time student. At that time we will also review with you the potential impact dropping courses may have on your financial aid for the following year.

WITHDRAWAL
If you withdraw from all of your courses, either officially or unofficially, we will have to perform a 'Return to Title IV' aid calculation. Details regarding this process can be found here.

SUMMER ATTENDANCE
In most cases, due to limited funding, financial aid awards are made for the traditional academic year (fall and spring semesters). We understand that you may want to take a course or two in the summer to either catch up or get ahead but remember that the only resource to assist you with the costs may be private loans. You are encouraged to discuss your situation with a financial aid counselor if you anticipate the need to attend summer school.

An exception to this policy is for those students who attend full-time in the summer due to their participation in the cooperative education program. They will still be eligible for their two semesters of aid as long as they co-oped in either the fall or spring term. For example, a student who attends classes in the fall term, co-ops in the spring term and then attends classes full-time in the summer will still receive two semesters of full aid eligibility.

RESIDENCY STATUS
Your financial aid award was calculated based on your response on the FAFSA regarding your housing plans. You were assigned a cost of attendance (COA) based on whether you are living on-campus (UD or landlord) or commuting (living at home with your parents). If your plans have changed, please notify our office.

SUSPENSION/DISMISSAL
If you are suspended or dismissed from the University of Dayton, you cannot receive financial aid until you are readmitted as a degree-seeking student. Your financial aid award for the next year will be canceled but you can appeal for reinstatement after being readmitted. The amounts of your financial aid awards will be based upon the available funds at the time of readmission. All regulations for aid renewal will be used.


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