What is financial aid?
The concept of need-based financial aid is fairly simple. A college using a need-based approach compares its cost of attendance (including tuition, room and board, fees, personal expenses and books) to the expected contribution from the family. If the family contribution is less than the cost of attendance, a financial need exists. The college then offers the applicant a financial aid package consisting of grant or scholarship, loans, and work study in an attempt to meet the financial need of the family.
Financial aid is money provided through loans and scholarships to help you pay for your graduate education. Your primary source of funding will be through federal and credit-based, private student loans. Typically, a Stern financial aid package will include a combination of scholarships (where applicable), federal loans and private student loans (private loans are available for International students), never exceeding the cost of attendance.
Financial aid is funding for your college education that comes from sources outside of your family. Gift aid and self-help aid are two categories of financial aid. Gift aid comes in the form of grants and scholarships and does not have to be repaid. Self-help comes in the form of loans and employment. Financial aid at DWU is awarded to students based on financial need. A student may have a combination of grants, loans, scholarships and employment for a financial aid award. • Where can I get information about Federal student financial aid? Call the Federal Student Aid Information Center (FSAIC) at 1-800-4-FED-AID (1-800-433-3243) or 1-800-730-8913 (if hearing impaired) and ask for a free copy of “The Student Guide: Financial Aid from the US Department of Education”. This toll free hotline is run by the US Department of Education and can answer questions about federal and state student aid programs and applications. Please see Additional Financial Aid information section for websites Con
