WELCOME NEW STUDENTS!
As you may have already come to know, DePauw is a truly special place where our exceptional professors will inspire you and your fellow students will support and challenge you every step of the way as you strive to achieve your full potential.
The Financial Aid Office is here to assist you in funding this world-class education. We are committed to providing financial aid opportunities and financing options to help make the transformative DePauw experience accessible to all. Consider us a resource to guide you through the financial aid process and ensure you have the information needed to make well-informed decisions.
Our team is located in the Emison Building, and we welcome you to schedule an appointment, drop by, or reach out by email or phone - we’re always happy to chat and address any questions you may have. Your educational dreams are invaluable, and we’ll do everything we can to help make them a reality at DePauw.
IMPORTANT DATES
n June 1
Begin process to obtain Federal Student Loans and/or Direct Parent PLUS Loan (see page 4).
n Late June
Instructions for Institutional Loan program sent to the student’s DePauw email address (see page 3).
n Mid-July
Fall semester invoices emailed.
n Mid-July
Work-Study/Student Employment application available (see page 5).
n July 31
Last day to submit Federal Student Loans and Direct Parent PLUS Loan applications to ensure that funds are available by the start of classes.
n Aug. 1
Fall semester payment due in full (or first installment of the fall payment plan).
n Aug. 21
Fall classes begin.
n Sept. 25
Deadline to sign up for fall payment plan.
Financial Aid Office
Emison Building
204 East Seminary St. P.O. Box 37
Greencastle IN 46135
Phone: 765-658-4030
Fax: 765-658-4137
Email: financialaid@depauw.edu
BILLING AND PAYMENT SERVICES
At DePauw, Payment Services and the Financial Aid Office work hand-in-hand to ensure investing in your education is as seamless as possible. While we are two separate offices, our teams collaborate closely throughout the year.
The Payment Services team, also located in the Emison Building, is responsible for invoicing and collecting payments for tuition, fees, housing, meals, and other university-related charges. If you have any questions about making payments or understanding your billing statement, don’t hesitate to reach out at paymentservices@depauw.edu or 765-658-4015.
You can expect to receive your billing statement via email mid-July, with payment due on August 1st. Statements will be sent to all students as well as any authorized users, such as parents, that you designate through the Transact Payments system (page 2). Your statement will outline all charges and approved financial aid credits at that time. Please note that statements will only be available online.
To better understand how your balance due was calculated, we recommend referencing your financial aid notification. However, keep in mind that this notification is not an actual invoice. If you have received financial aid that does not appear to be reflected on your statement, our Financial Aid Office will be happy to clarify when those credits will be applied.
A friendly reminder that students must enroll in a payment plan or pay their balance in full prior to each semester’s start to avoid late payment penalties. For additional details, visit depauw.edu/paymentservices
1 I Financial Aid Information
TRANSACT PAYMENTS
To make managing your student account as easy as possible, DePauw partners with Transact Campus. Through this platform, you can view electronic billing statements, make payments using a variety of methods like ACH, credit card, 529 plans, or international payments, enroll in an installment payment plan, and more.
You’ll access Transact Payments right from DePauw’s e-Services (my.depauw.edu) by clicking the “Billing and Payments” link. From there, you can also grant parents or other trusted individuals access as “authorized users.” Just enter their info and they’ll receive login credentials to view and make payments on your account.
TUITION PAYMENT PLANS
Pay in Full
If you wish to pay your balance up front, the full tuition invoice is due by August 1 for fall and February 1 for spring. Just subtract any pending financial aid or approved loans from your total, and that’s your amount due.
Monthly Payment Plan (Transact Payments)
This convenient plan lets you spread out tuition payments interest-free over several months rather than paying the lump sum. It’s a great budgeting tool! Details on enrolling will come with your first billing statement in early July, and you’ll have until September 25 to sign up.
PAYING FOR BOOKS
One cost not included on your tuition statement is textbooks and supplies. You’ll purchase these separately after enrolling in classes each semester, either through the campus bookstore (Eli’s Books) or your preferred retailer.
Be sure to have funds available at the start of each term to pay for books upfront. If using Eli’s, you do have the option to simply charge books to your student account. These charges will then follow the same payment deadlines and processes as your regular billing statement.
2 I Financial Aid Information
LOAN OPTIONS
Subsidized Direct Loans
Students who demonstrate financial need may qualify for a Subsidized Federal Direct Loan. With this loan, the government covers the interest charges while you’re enrolled at least half-time or during approved deferment periods. For 2024-25, the fixed interest rate on Subsidized Loans is 6.533%.
Unsubsidized Direct Loans
With an Unsubsidized Federal Direct Loan, you’ll be responsible for paying the interest charges during school and any future deferment periods. You can choose to make interest payments while enrolled, or allow the interest to accrue and be added to your principal balance once repayment begins – this is known as capitalization. Like the Subsidized option, for 2024-25, Unsubsidized Loans have a 6.533% fixed interest rate.
Direct Parent PLUS Loan
Direct Parent PLUS loans are federal loans that parents of dependent undergraduate students can use to help pay for college. This loan can help pay for education expenses not covered by other financial aid. The maximum loan amount is the cost of attendance (determined by the school) minus any other financial aid received. The 2024-25 interest rate for the Federal Direct Parent PLUS Loans is fixed at 9.083%.
Private Loans
In addition to federal aid, some students utilize “private” or “alternative” educational loans. These are loans made to either the student (usually requiring a co-signer) or a parent to help cover remaining costs.
While DePauw can process private loans from any lender, we’ve compiled a list of private loan options that have been used by past DePauw students through FASTChoice. This free tool lets you compare interest rates, terms and benefits across multiple private lenders.
Visit depauw.edu/loans and click on “Private Loans” to explore FASTChoice.
Institutional Loans
If your financial aid package includes an Institutional Loan from DePauw, check your university email in late June. We’ll send instructions then on how to complete the requirements for that loan.
For any questions in the meantime, please be in touch with the Financial Aid team!
3 I Financial Aid Information
OBTAINING FEDERAL STUDENT LOANS
If your financial aid package includes Federal Student Loans, it’s time to get that process started to ensure your loan funds are ready for the upcoming semester. For 2024-25, there is a 1.057% origination fee that will be deducted from the total loan amount when it’s disbursed.
Not planning on accepting a federal loan? No problem! Just send our office a quick email letting us know you’d like to decline the loan for 2024-25.
Ready to apply for your Federal Student Loans? Here are the simple steps:
1. Visit depauw.edu/loans and click on the “Federal Student Loans” link.
2. Click “Apply Now” at the bottom of that page.
3. Log into e-Services with your DePauw username and password when prompted.
4. Complete the Federal Student Loan request form, indicating your requested loan amount (your eligibility is listed on your financial aid notification). We’ll calculate any subsidized portion.
5. When you click continue, you will be directed to studentaid.gov. Login with your Federal Student Aid (FSA) ID.
6. Under “Loans and Grants,” complete Loan Entrance Counseling (about 30 minutes).
7. Still on studentaid.gov, find the Master Promissory Note (MPN) under “Loans and Grants Process” and complete it (another 30 mins). You will need to provide the names, phone numbers and addresses for two personal references who cannot share your phone number of address, so be sure to have this handy!
Interest Rates
Interest rates for federal loans are set annually by federal legislation.
Federal Student Aid (FSA) ID
Your FSA ID gives you access to the Federal Student Aid’s online systems and can serve as your legal signature. Be sure to remember your FSA ID since you will use it for the entire time you are at DePauw.
APPLYING FOR A FEDERAL DIRECT PARENT PLUS LOAN
For families looking to borrow additional funds, the Federal Direct Parent PLUS Loan is an option available to credit-worthy parents of undergraduate students, regardless of income level.
For the 2024-25 year, there is a 4.228% origination fee that will be deducted from the total PLUS Loan amount when disbursed. Unless you let us know otherwise, we’ll assume you’re requesting the loan for the full fall and spring semesters. Just give our office a heads up if you only need it for one semester.
Ready to apply for a Parent PLUS Loan? Follow these simple steps:
1. Visit studentaid.gov. The parent borrower will need to log in using their FSA ID.
2. From the “Loans and Grants” menu, select “PLUS Loans: Grad PLUS and Parent PLUS”
3. Complete the application and credit check, being sure to select “INDIANA” for School State and “DEPAUW UNIVERSITY” for School Name. Request your desired annual loan amount, accounting for origination fees.
4. If approved, complete the Parent PLUS Loan Master Promissory Note from the “Complete Aid Process” menu (about 30 minutes). You will need the names, phone numbers and addresses for two personal references info ready – please note they can’t share the same address or phone number.
If your credit isn’t approved initially, you’ll have options to 1) not pursue this loan, 2) obtain an endorser, or 3) appeal the decision. If you obtain an endorser or appeal the decision, the parent borrower must also complete PLUS Counseling.
4 I Financial Aid Information
STUDENT EMPLOYMENT (WORK-STUDY)
The student employment program extends part-time work to students in need of earnings to meet college expenses, while providing opportunities for professional growth. Our partners in the Hubbard Center manage student employment and are available to assist you with identifying employment opportunities, professional development programming and more.
Students must qualify for Federal Work-Study as part of a need-based financial aid notification, determined by the Financial Aid Office. If you are eligible, your work-study offer will be listed in your financial aid notification. Students must successfully interview for a position with a work-study supervisor.
Students typically work between eight to 10 hours per week, are paid by the hour and receive earnings every two weeks via:
• Check issued to the student’s mailbox in the Memorial Student Union Building;
• Credit to the student’s DePauw account as payment towards tuition, housing and meals; or
• Direct deposited to a personal checking or savings account.
If you are eligible and would like to participate in the work-study program, head to depauw.edu/academics/centers/hubbard and select “Student Employment” to complete the online application. After an offer of employment is received, you must complete your tax withholding forms and federal I-9 form using the same link above. You must also submit identification documents to the Hubbard Center before beginning work.
Please note that international students without a Social Security Number must begin the application process before they can start working. Identification required to complete the federal I-9 form
The I-9 requires that a student provide proof of identity and eligibility to work in the United States. Per federal regulations, DePauw must review original documents to confirm eligibility. We cannot accept photocopies, faxes or electronic images.
Domestic students
Acceptable documents include, but are not limited to:
• Government-issued picture ID, such as a driver’s license, or DePauw student ID AND
• Non-picture ID confirming citizenship status, such as an original Social Security card or the original (or certified copy) of a birth certificate.
• The complete list of acceptable documents can be found at: uscis.gov/i-9-central/form-i-9acceptable-documents
International students
• Valid foreign passport
• I-94
• Social security card or receipt from social security
5 I Financial Aid Information
FAMILY EDUCATIONAL RIGHTS AND PRIVACY ACT (FERPA)
FERPA is a federal law that protects the privacy of student education records. The law applies to all schools that receive funds under an applicable program of the U.S. Department of Education. Education records include student account and financial aid records which are considered confidential and will not be released without written consent from the student. In accordance with FERPA, it is necessary for the Financial Aid Office to obtain written consent from the student in order to release any financial aid or student account information to a third party. The FERPA form is available to complete online at depauw.edu/offices/ financialaid/forms/.
Additional Campus Resources
DePauw Dining
765-658-4500
depauwdining@depauw.edu
Housing and Residence Life
765-658-4500 housingreslife@depauw.edu
Hubbard Center (Student Employment, Study Abroad) 765-658-4622 hubbard@depauw.edu
Payment Services
765-658-4015 paymentservices@depauw.edu
Federal regulations require that institutions provide specific consumer information about the school and about financial aid to enrolled and prospective students. Additional information may be obtained online at depauw.edu/offices/financialaid/ policies/consumer-information/
OUTSIDE SCHOLARSHIPS
Don’t forget to let us know if you’ve been awarded any outside scholarships from other organizations! Just send us an email at financialaid@depauw.edu with a copy of your scholarship notification. Unless the provider specifies otherwise, we’ll split the scholarship evenly between fall and spring semesters.
Please note that your total aid can’t exceed your cost of attendance (or financial need if you’re receiving need-based aid), so providing this info upfront ensures we can accurately assess your full award package.
2025-26 FAFSA
Students must submit the Free Application for Federal Student Aid (FAFSA) every year to be considered for need-based financial aid. The 2025-26 FAFSA should be available on or after Oct. 1, 2024. You will use the Direct Data Exchange to submit 2023 tax information. If your FAFSA is selected for federal verification, we will contact you regarding additional required documents.
6 I Financial Aid Information