The University participates in several loan programs that offer help to students who need additional financial assistance. The purpose of all loan programs is to assist students unable to obtain sufficient support from other sources. Student loans must be repaid. Therefore, students are highly encouraged to borrow only what they need to cover direct educational expenses.

In order to qualify for assistance under any of the loan programs, the student must complete the Free Application for Federal Student Aid (FAFSA) and the DBU Supplemental Application for Financial Aid and Scholarships for the appropriate academic year. These forms are available from the Office of Financial Aid. A separate application process for each loan exists and must be completed by the student wishing to receive the loan.

Students who receive federal loans are required to attend an entrance counseling session before the loan application process can be completed. Students must also attend an exit counseling session upon their graduation or withdrawal from the University. This exit counseling session is required by federal regulation and should be completed within 30 days of graduation or upon withdrawal from the University. Students in their last semester at DBU can schedule the exit counseling session during the Patriot Salute or individually at the Office of Financial Aid.

Federal Perkins Loan Program
The Federal Perkins Loan Program provides long-term, low interest loans for students who qualify. The amounts awarded vary, depending on financial need, year in school, and availability of funds. To receive the Perkins loan, the student must exhibit exceptional need, which at DBU is defined as financial need greater than one-half the cost of attendance.

The Perkins Loan will be awarded to eligible students as long as funds are available each year. The terms and conditions of the Federal Perkins Loan are outlined in the Promissory Note, which is available from the Office of Financial Aid. Indebtedness under the Federal Perkins Loan Program may be fully or partially canceled for students who meet certain conditions. Check the Financial Aid Student Guide for more information.

Federal Stafford Loan Program
The Federal Stafford Loan program consists of two types of loans: the Federal Subsidized Stafford Loan and the Federal Unsubsidized Stafford Loan. These loans are secured from a private lender such as a bank, credit union, savings and loan association, or insurance agency. DBU does not currently participate in the Federal Direct Loan Programs.

Loan eligibility varies depending on the student's year in school and dependency status. Federal Stafford Loans are available to post-baccalaureate and graduate students. Please consult the Financial Aid Student Guide for specific information on eligibility and amounts available.

The student must meet certain income requirements (as determined from the FAFSA) to qualify for a subsidized loan. "Subsidized" means that the government will pay the interest on the loan while the student maintains an eligible enrollment in school.

The student will be responsible for repaying the loan and interest after enrollment ends. The government does not pay the interest on an unsubsidized loan. The borrower is responsible for all interest that is charged on the loan even while in school. The interest rate under the Federal Stafford Loan program is a variable rate that adjusts annually. A portion of the loan amount is kept by the lender to cover origination and loan insurance fees. See the Financial Aid Student Guide for more information, including repayment terms, deferment options, consolidation, origination and insurance fees, and other details.

Electronic Funds Transfer
DBU participates in Electronic Funds Transfer (EFT) with most lenders. This timesaving process is much more efficient because it eliminates paper checks. Loan funds are normally disbursed to students twice per loan period. If the student's loan period consists of the fall and spring semesters, one disbursement will be made in the fall and one in the spring, each equal disbursement being applied to the student's account approximately one week after the add/drop period ends for that semester. If the loan period is one semester only, the first disbursement will be made early in the semester (after the add/drop period ends), and the second disbursement after the mid-point in the semester.

Minnie Stevens Piper Foundation Student Loan Program
Educational loans are available to Graduate/Professional students who are residents of Texas and enrolled full time. Loans cannot exceed $4000 per year for graduate/professional students. This is a private loan with an interest rate of six percent and must be repaid within four years after repayment begins. Please contact the Minnie Stevens Piper Foundation for loan application forms and more information. The foundation address is:

Minnie Stevens Piper Foundation
800 NW Loop 410, STE 200
San Antonio, TX 78216-5699

Alternative Educational Loans
Most student loan programs require a minimum half-time enrollment status (4.5 hours or more graduate level, 6 hours or more post-baccalaureate level) to be eligible to apply for assistance. Some private lenders offer alternative educational loans for less than half-time enrollment. For more information, contact the Office of Financial Aid.