Once you have received your Davenport University Financial Aid award notification you are ready to begin/continue your journey to receive your degree.
Grants, scholarships, student loans, and similar types of aid disburse directly to your student account to pay tuition, fees, books, room, meal plan, and/or other charges on your Davenport student account. Grants, scholarships, and similar types of aid disbursed to your account generally one week after the start of the semester. Loans disburse at a later date to allow for changes in your schedule and for book charges to be applied to your account.
Loan Disbursement Dates for the 2023/2024 academic year
|Semester long courses and Session 1 Students||Session 2 Only Students|
|Fall: 9/28/2023||Fall 2: 11/20/2023|
|Winter: 1/29/2024||Winter 2: 03/25/2024|
|Spring/Summer: 5/28/2024||Spring/Summer 2: 7/22/2024|
Notes about your student account:
If you have not dropped or withdrawn from any of your courses and you have excess financial aid, you are eligible to receive the credit balance (refund).
The Bursar’s Office will process a credit balance (excess financial aid) within 14 days after your financial aid is disbursed to your account.
Once the Bursar’s Office audits your account, the resulting credit balance will be delivered to you based on your refund preference.
Bursar’s Office phone number: 1-800-266-6158
One important step remains: you've got to accept your aid!
How to Accept Your Financial Aid
Loans: You have the option to accept, reduce or decline your loans. Loans will not disburse until you make a selection.
Finally, view our Accepting, Reducing or Cancelling Awards page for more information on how this is done.
Minimum Enrollment Status
Many financial aid programs require a certain enrollment status. Credit hours needed:
|Full-time||Enrolled in 12 or more credits for a given semester|
|3/4 time||Enrolled in 9 - 11 credits for a given semester|
|Half-time||Enrolled in 6 - 8 credits for a given semester|
|Less-than-half-time||Enrolled in 5 or fewer credits for a given semester|
|Full-time||Enrolled in 6 or more credits for a given semester|
|Half-time||Enrolled in 3 - 5 credits for a given semester|
Enrollment Status and Financial Aid
Financial aid awards are based on full-time enrollment. If you will not be attending full-time (12 credits min. per semester) your awards will be prorated based on your actual enrollment.
Please see your Financial Aid Counselor if you would like to compare the exact amount of your awards based on less than full-time (e.g. half-time, 3/4 time, less than half-time) enrollment.
Some programs require a minimum half-time enrollment per semester. These include (but are not limited to) the following:
- Federal Direct Loans
- PLUS Loans
- Some of the private/alternative loan
- Michigan Tuition Grant (MTG)
- All Davenport scholarships, unless specifically noted
Some programs require full-time enrollment per semester. These include (but are not necessarily limited to) the following:
- The Gerald R. Ford Memorial Scholarship (requires 15 credit hours per semester)
- Presidents (Charter) scholarship (requires 15 credit hours per semester)
- Athletic scholarships
Below is a breakdown of the most common financial aid programs at Davenport University and how enrollment affects eligibility for each. For specific information, please view the web pages linked in each program title.
Less Than Half-Time
|Federal Work-Study Program||Eligible||Eligible||Eligible||Ineligible|
|Federal Direct PLUS Loans||Eligible||Eligible||Eligible||Ineligible|
|Federal Pell Grant||Eligible||Eligible if EFC allows||Eligible if EFC allows||Eligible if EFC allows|
|Federal Supplemental Educational Opportunity Grant (SEOG)||Eligible||Eligible||Eligible||Eligible|
|Michigan Tuition Grant||Eligible||Eligible||Eligible||Ineligible|
|Michigan Competitive Scholarship||Eligible||Eligible||Eligible||Ineligible|
|Tuition Incentive Program (TIP)||TIP||TIP||TIP||TIP|
|Davenport Institutional Scholarships||Eligible||Varies||Varies||Varies|
|Federal Direct Subsidized and Unsubsidized Loans||Eligible||Eligible||Eligible||Ineligible|
The transactions below and virtually all other student transactions with the University - are conducted online through the Student Payment Center (DU student login required).
Payment, billing, and other Information about your student account are found on the Accounts Receivable web site (login required).
All students will receive a Panther OneCard, which is your student ID. If you have excess financial aid, the Panther OneCard also streamlines the refund process so that you receive funds electronically. As an admitted student, you will receive more information during orientation and/or through your admissions representative.
For Parents/Authorized Users
As a parent or authorized user, you have the option to add funds to your student's account and/or monitor the account directly. Because of Federal privacy laws (FERPA), the student is the only person who can grant access to his/her account. Click here to go to the Account Center (login required).
Tuition Refund Policy (for withdrawing from a class)
Sometimes students need to withdraw from courses. Davenport's policy for tuition refunds explains whether or not you might be eligible for a tuition credit. Often when you withdraw, the financial aid office is required by federal law to make adjustments to your financial aid. This calculation might result in some of your financial aid being sent back to the federal government. If this happens, then you will end up owing Davenport the resulting balance.
1098-T Tax & IRS Information
You will need the 1098T form (login required) to file with your income tax return if you've received financial aid during the calendar year.
How and when do I get my loan refund?
After the drop/add date for each semester, your financial aid award is disbursed (paid) to your account. Lenders generally send loan funds to Davenport approximately 3 - 4 weeks after the start of a semester.
THE MONEY IS FIRST USED TO PAY:
- tuition charges
- residence hall charges (if any).
After those payments, it is possible that you may have excess financial aid (or in other words, a credit balance). Davenport will send your excess financial aid to you via the Panther OneCard.