Thinking About Borrowing?
Loans are often needed to help pay for college. Get educated, both here on our website and by visiting with your Financial Aid Counselor. A summary sheet is also available to help you get started.
How Loans are Determined
- DU recommends most students start with their base (lowest) level loan eligibility amount ("subsidized ability").
- This approach helps you manage your debt and complete your program before you reach lifetime loan limits.
- You may be eligible for additional unsubsidized money, such as PLUS loans and/or Grad PLUS loans.
- Browse our financial aid pages to learn more, then come to the Financial Aid office and let's talk!
Fact: Loans MUST be Repaid
It might seem strange to read the sentence above; however, it's the main reason you want to be smart about borrowing. It is not "free money," but if you are just getting started with budgets and learning financial obligation, it can seem that way at first. Don't make that mistake. Remind yourself that every cent you borrow is more than a cent you will have to pay back.
Face the Facts. You'll be Glad You Did.
- Even if you drop out of school, loans must be repaid.
- Even if you do not get a job right away in your chosen field, loans must be repaid.
- Even if you do not finish your degree, loans must be repaid.
You need to be careful about borrowing because defaulting on student loans will damage your credit and cause other difficulties as you are trying to establish your career.
Student loans can be a very useful resource to pay for college. It's just that at Davenport, we want to help you understand all aspects of the student loans and show you additional options.
Davenport University is required to report loan information, for parent and student borrowers, to the National Student Loan Data System (NSLDS). NSLDS is a national database viewed by schools and lenders.
Let Us Help
- Know what you are borrowing.
- Use the government website NSLDS to help you monitor your total borrowing.
- Meet with your financial aid counselor to develop a plan.
- Use Career Services to find part-time jobs, including work study.
- Research scholarships.
- Develop a careful budget.