Financial Aid at Dominican

Financial Aid
finaid@dom.edu
708-524-6809
Lewis Hall, Room 120

One of the most practical ways parents can assist their son or daughter in college is by completing the Free Application for Federal Student Aid (FAFSA) by Dominican University’s preferred filing deadline of April 15. Illinois residents are strongly advised to file their FAFSA as early as possible.

The Illinois MAP grant deadline for the 2011-2012 academic year was March 28. A FAFSA form must be completed each year in order for students to be considered for and/or remain eligible for grants and loans.  The financial aid process often marks the first time a student will be accepting a long-term financial commitment. Parents and students should sit down and complete the FAFSA together, as the process will illustrate the educational and financial partnership that exists between parent and student. Investing in their education is one of the most important, life altering decisions that students may ever make, and they rely on you – their parents – for support and guidance.

Federal student loans, one of the largest resources for students, are often a source of confusion and anxiety for families. Parents express that they don’t want their son or daughter to be burdened with loan debt after college. However, as with most private colleges, the majority of our students are funding their education by utilizing this valuable resource.

Students often need help in realizing that the loans they are offered will be their financial responsibility, and not the responsibility of their parents. From the completion of the loan data sheet, to the required Stafford entrance and exit counseling, and the signing of the master promissory note, students must acknowledge their role as being responsible for financing their own education.

We do recognize your desire as parents to assist them in this process; the financial aid office is also available to counsel them in understanding the loan process.  We must work together to educate students on the money management skills that will provide such vital knowledge for them once they graduate from college.

Just as we look forward to working with your son or daughter, we want parents to recognize that the financial aid office is also a place to have their questions or concerns addressed.  For example, a change in the family’s circumstances can often affect their ability to keep up with tuition payments; we will do our best to offer guidance and support during those times.

Finally, we urge you to remember two very important financial aid web sites:
FAFSA and College Illinois. The first web site is for completion of the financial aid application, and the second offers a wealth of financial aid information for students and parents.