| Q. |
What is the difference
between a grant, a scholarship and a loan?
|
| A. |
A grant is a gift. It does not have to be
repaid and it is based on the student's financial
need. An academic scholarship is an achievement
award which is awarded by the Admissions office
during the Admissions process. Loans are funds
borrowed by the student and/or parent. In
most cases, loans must be repaid with an interest
charge and have a time limit for repayment. |
| |
|
| Q. |
How can I receive more Academic
Scholarships? |
| A. |
Since Academic Scholarships are awarded
by the Admissions office during the Admissions
process, you CANNOT be reconsidered
for Academic Scholarships after you enroll
at Duquesne University. |
| |
|
| Q. |
How can I apply for work study?
|
| A. |
If you were awarded Federal Work Study as
part of your financial aid package, you can
apply for a Work Study position through the
Student Employment Office. You can contact
Student Employment at 412/396-6053. |
| |
|
| Q. |
Will Work Study appear as a credit
on my bill if I am given a job as part of
my financial aid package? |
| A. |
No, it will not appear as a credit on your
bill. The job is an opportunity to earn money
to pay for ongoing personal and book expenses
during the year. |
| |
|
| Q. |
What is the difference between a
subsidized and an unsubsidized Stafford Loan?
|
| A. |
A subsidized loan is awarded on the basis
of financial need. You will not be charged
any interest while you are enrolled in school
at least half time, during a grace period,
or during authorized periods of deferment.
However, on an unsubsidized loan, you will
be charged interest from the time the loan
is disbursed until it is paid in full. |
| |
|
| Q. |
How do I ensure that the Federal
Stafford Loan from my package is sent to Duquesne
University? |
| A. |
If you are eligible for a Stafford Loan,
you must complete a Master Promissory Note
(MPN) and an Entrance Interview. The MPN and
Entrance Interview are available through American
Education Services (AES). You can complete
the MPN and Entrance Interview online at www.aessuccess.org. |
| |
|
| Q. |
When do I begin repayment of my
Federal Stafford Loan (s)? |
| A. |
You have 6 months after you graduate, leave
school or drop below half-time enrollment,
before you begin repayment. |
| |
|
| Q. |
What is a Federal Perkins Loan?
|
| A. |
A Federal Perkins Loan is a low-interest
(5 percent) loan for undergraduate students
with financial need. Interest does not accumulate
until repayment begins. The school is your
lender. You must repay this loan to the school.
|
| |
|
| Q. |
When do I begin repayment of my
Federal Perkins Loan? |
| A. |
You have 9 months after you graduate, leave
school, or drop below half-time status before
you must begin repayment. |
| |
|
| Q. |
How do I ensure that the Federal
Perkins Loan amounts from my package are applied
to my bill? |
| A. |
You must complete a Perkins Loan Promissory
Note that will be sent to you from Duquesne
University.
You will need to have an Entrance Interview
completed before you can receive your Perkins,
Nursing, Health Professions or Institutional
Loan funds. The Entrance Interview can only
be completed via the Internet. Please complete
the interview online.
An Entrance Interview only needs to be
completed once, though you may recieve multiple
requests to complete the Entrance Interview,
because of multiple loans or from different
sources. Please call the Student Financial
Office at 412-396-6591 if you have any questions.
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