Loan Information

Follow the links below for more information on student loans and applications.

Loan Renewal Information for Continuing Students

How to Renew Your Loan(s)

  1. File a renewal (or new) 2012-2013 Free Application for Federal Student Aid (FAFSA) preferably by May 1, 2012, but no later than July 1, 2012, at http://www.fafsa.gov/ (school code 003127).
  2. In early summer, look for your financial aid award notification postcard from the Office of Financial Aid. Follow the directions to accept or decline your financial aid award.
  3. You must file a separate application for the Direct Graduate Plus loan.
  4. Complete a new Master Promissory Note (MPN) if you are accepting the Federal Direct Loan eligibility listed in your award. You will receive notification in the mail mid-summer instructing you to go online to electronically sign your MPN.
  5. If you are seeking a Direct Graduate PLUS loan for the 2012-2013 academic year, you will need to apply (or reapply, if you had a private alternative loan last year) for this loan. It is your responsibility to apply for such a loan. A credit check review is part of the Direct Graduate PLUS Loan process. Review your credit-worthiness with Experian, Equifax or Trans Union.

Next Steps 

  1. The Office of Financial Aid will review the results of your FAFSA and will notify you if additional information is needed. If your contact information has changed, complete this student address change form and email it or fax it to 937-229-4769.
  2. If your application is complete, the Office of Financial Aid will generate a financial aid award for you and mail you a postcard with instructions to go online to view your financial aid award.
  3. If you seek to reduce any of the loan amounts or to notify the University of Dayton of any additional outside scholarships you have been awarded, follow the instructions online, email or call 800-427-5029.
  4. If you have not received your financial aid award letter by July 15, either the Office Financial Aid has not received your FAFSA results or they are waiting on additional information.

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More Information

Apply by July 1, 2012, and sign and mail your promissory note no later than August 1, 2012, to ensure that your loan funds will be disbursed by the first week of classes. Funds will not be disbursed until your lender receives your signed promissory note.

The Direct Graduate PLUS loan listed on your financial aid award indicates your maximum eligibility and is not the actual award. You must apply separately for a Grad PLUS loan. To be approved for a Direct Graduate PLUS loan, you must pass a credit check. In some cases a co-signer may be required.

You will use the same PIN you used last year to electronically sign this year’s FAFSA. If you do not have a PIN, or have forgotten your PIN, you should register for one at http://www.pin.ed.gov/.

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Summer Loans for Continuing Students

Taking classes at UD this summer?

Contact the University of Dayton Office of Financial Aid after you have registered for your summer classes. A financial aid counselor will create a budget based on the number of credit hours you are taking over the summer and determine your loan eligibility. You must take a minimum of 3 credits in order to apply for summer loan assistance.

If you did not use all of your Federal Direct Loan eligibility ($20,500) during the fall and spring terms, you may have some Federal Direct Loan eligibility remaining for the summer. If you have used all of your Federal Direct Loan eligibility during the fall and spring terms, you may elect to borrow either a Federal Graduate PLUS loan or a private alternative loan. More information is available online or at the Office of Financial Aid.

Taking classes at another university or studying abroad this summer?

If you are taking classes at a university other than the University of Dayton this summer (whether domestically or abroad), then Dayton will still be the university that will process your financial aid. Because the University of Dayton is your “home school,” we are the only university able to process financial aid for you.

In order for financial aid to be transferred to another university, you are required to complete a consortium agreement. This agreement enables UD to transfer your financial aid to the visited school. The University of Dayton will use the consortium agreement to determine your aid eligibility, process the aid for you, and mail a check to the visited school once the aid is disbursed to us. A consortium agreement must be completed and signed by the student, the visited school and the University of Dayton.

Meet with a Financial Aid Counselor

Students considering either of the above opportunities this summer should meet with a financial aid counselor at the University of Dayton Office of Financial Aid. Counselors are available to assist you daily from 8:30 a.m. to 4:30 p.m. in the Flyers First office on the 4th floor of St. Mary's Hall.

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Bar Study Loans

Bar study loans for graduating law students are available to help meet the costs associated with taking a bar exam. These costs may include bar exam deposit and preparation course fees, as well as costs associated with living expenses during the bar exam preparation time.

Information about these loans, as well as suggested lenders, is available from the University of Dayton Office of Financial Aid. Our bar loan comparison chart (PDF) compares interest rates and other pertinent information.

Once you submit a bar loan application, the lender will send your information to the University of Dayton Office of Financial Aid for graduation status certification. Once this is complete, the bar loan funds will be sent directly to you.

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