Financial Aid: A Helping Hand
Financing an education begins with proper planning. Therefore, all applicants are scheduled to meet with a financial aid administrator to develop a personalized plan to meet their educational expenses.
How to Apply
Each year, aid applicants must submit a Free Application for Federal Student Aid (FAFSA). This application may be submitted in person to the Financial Aid Office, via U.S. mail to the Federal Processor, or online at www.fafsa.ed.gov. The Financial Aid Office may request additional documentation to support the student’s request for financial assistance, including signed copies of federal income tax returns. The student’s financial aid package can not be finalized until the Financial Aid Office has received all requested documentation. It is the student’s responsibility to ensure that current address and telephone contact information is provided to the College. Renewal of financial aid is not automatic. Recipients are required to reapply each year by the announced deadline. Federal aid will be awarded to the student based on need as determined by Federal formulas. Dover Business College aid will be awarded by the Financial Aid Director according to institutional guidelines for each aid program.
Federal and institutional grants and loans will be disbursed onto student accounts to cover direct educational costs. Disbursements in excess of direct costs will be refunded to the student (or parent, in the case of a PLUS loan). Federal Work Study earnings will be paid directly to the student via check on a bi-monthly basis for actual hours worked.
Tuition and Fees
Tuition is payable in advance and may be paid with cash, check, money order, MasterCard, Visa, Discover, or American Express. Tuition for each course within a program of study differs; fees and tuition are listed in the current College Catalog and in the Enrollment Agreement.
Although many students pay their tuition in full at entry, tuition and fees may be paid according to a plan designed to meet the individual needs of the student. Details of the various alternatives may be obtained from the Financial Aid Office.
Dover Business College can assist you with applications for the following:
Federal Pell Grant:
The Pell Grant Program provides awards of up to $5,550 per academic year for financially eligible undergraduate students who previously have not earned a Bachelor's degree. Recipients must be United States citizens or eligible non-citizens enrolled in diploma programs. The Free Application for Federal Student Aid (FAFSA) must be completed when applying for financial aid.
Federal Loans:
Dover Business College participates in the William D. Ford Direct Loan program. Eligible students and their parents borrow Stafford and/or PLUS loans directly from the US Department of Education and repay the loans directly to the US Department of Education. Promissory notes are available in the Financial Aid Office and online at https://dlenote.ed.gov/empn/index.jsp. Various repayment and deferment options exist for federal loans including, but not limited to, deferments for service under the Peace Corps Act, service under the Domestic Volunteer Service Act of 1973, and comparable service as a volunteer for a tax exempt organization in the field of community service. All students will be provided entrance counseling that describes these options prior to loan disbursement.
Federal Subsidized Stafford Loan (FSL):
Available to students who are enrolled at least half-time and have financial need, as determined by federal formulas. The interest rate for loans first disbursed after July 1, 2010, is a fixed rate of 4.5 percent, and in most cases repayment must be completed within 10 years. The US Department of Education pays the interest while the borrower is in school and during grace and deferment periods. Loan amounts will be certified by the College based on enrollment status and need as determined by federal formulas.
Federal Unsubsidized Stafford Loan (UFSL):
Available to students who are enrolled at least half-time. The interest rate for loans first disbursed after July 1, 2006, is a fixed rate of 6.8 percent, and in most cases repayment must be completed within 10 years. The student is responsible for the interest during the life of the loan. Loan amounts will be certified by the College based on enrollment status and need as determined by federal formulas.
Federal Parent Loan for Undergraduate Students (PLUS):
Available to parents of dependent students who are enrolled at least half-time. Parent is responsible for interest during the life of the loan. A fixed interest rate of 7.9 percent applies to all direct loans first disbursed after July 1, 2006. In most cases, repayment must be completed within ten years. Parents may borrow up to the cost of attendance minus other financial assistance. Loan amounts will be certified by the College based on enrollment status and dependency status, as determined by federal formulas.
Federal Supplemental Educational Opportunity Grants (FSEOG):
In addition to a federal Pell Grant and/or Stafford Loan, students of exceptional need may be awarded a federal SEOG Grant of up to $1,500 per academic year. Federal Pell Grant eligibility is required to be considered for this award. Eligible students automatically are considered for this grant upon submission of the FAFSA. Due to limited funds, SEOG awards normally are reserved for students with an EFC of zero, based on federal formulas.
Benefits For Veterans:
Veterans and other eligible personal planning to receive educational assistance benefits from the Veterans Administration (VA) should obtain VA approval prior to enrolling. The campus Financial Aid Director serves as the certifying official for the College.
Scholarships and Awards:
Each year Dover Business College offers scholarships and awards to qualified individuals, including Adult Learner Awards, Cooperative Industrial Education Awards, and Career Education Grants. Additional information regarding these scholarships and awards is available from the Financial Aid Office.
Alumni Scholarships:
Dover Business College awards 2 full-tuition and 16 partial-tuition scholarships annually to high school seniors who demonstrate a high level of achievement in high school combined with the highest level of achievement on the scholarship examination. Additional information and application forms are available from high school guidance offices or either campus of Dover Business College.
