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Financial Aid Basics

Key to Success: Understanding

All schools that accept Title IV Federal funding are required to determine a Cost of Attendance (COA). The required federal calculation used to determine a student’s “financial need” is determined by subtracting the Expected Family Contribution (EFC) number from the school’s COA number. Davenport University is then able to award students various types of aid based on their “need.”

If you feel that your EFC no longer reflects your current financial situation, review the information listed under "Factors that Could Change your Eligibility" section and review the options offered under the Special Considerations heading.

Approach to Financial Aid

  • Do not give up too soon. Some people are intimidated by the forms and process. It is all very manageable, and we can help. Keep in mind that a little bit of time now could result in you receiving some financial aid that you did not know about.
  • Learn what's available through federal, state, Davenport and other sources. Read through the entire section on Types of Financial Aid. Many agencies, banks, insurance companies, corporations, foundations, etc. have scholarship programs.  Be sure to look through our section on Other Resources.
  • Complete the FAFSA each year. This starts the process for any federal and state programs and most of Davenport's scholarships as well. The FAFSA is needed even for work study and all federal government student loans.
  • Keep on top of any emails regarding your financial aid and respond quickly so that you can avoid unnecessary delays.
  • Consider loans as an option. Loans are an option; however, we encourage students to borrow only what is needed to pay your direct costs. Meet with a financial aid counselor to develop a plan for managing your loans
  • If you pursue loans, you will need to complete a Entrance Counseling and a Master Promissory Note. More information is in our Loans section of the web site.
  • Apply for a work study job. Some of these jobs are on a Davenport campus, and some are with non-profit agencies in the communities where Davenport has a campus.