Financial Aid

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Financial Aid

Dongguk University Los Angeles offers assistance to those students who need funding for their education. Financial Aid Officers (FAO) are professionally and ethically bound by the Federal government, therefore they may use their Professional Judgment to either deny certain Federal Financial Aid or refuse to certify a student’s loan application.
Requirements Must be fully admitted to the program
·	Must be a citizen or eligible non-citizen of the United Stated of America
·	Must be enrolled at least 6 units as a regular student
·	Must have a Social Security Number
·	Must make satisfactory academic progress
·	Must register with the Selective Service, if required. Male students between the ages of 18-25 must be registered with the Selective Service. Females, and students born before 1960 are exempt from this requirement.
How to apply for Financial Aid? All students must follow the policies and procedures set by the appropriate federal agencies. Detailed information is available from the University’s Financial Aid Office. The instructions outlined below are provided as guidelines only. We encourage students to apply for assistance three months before the date of enrollment.
·	Complete the Free Application for Federal Student Aid (FAFSA) via internet website:www.fafsa.ed.gov or by the paper application and mailing to the address provided.
·	Submit copies of federal tax return with all schedules and W-2s for the last tax year preceding the academic year for which they enroll. A dependent student must additionally include their parent’s information.
·	If applicants want a loan, complete the Direct Loan Master Promissory Note and Entrance Counseling via the internet website: www.studentloans.gov or see the FAO for assistance.
·	Complete a Verification Worksheet when requested.
·	Submit proof of permanent resident alien, if applicable.
·	Submit ALL other documents as requested by the Financial Aid Office.

Types of Financial Aid


Pell Grant / Federal SEOG
·	Need based financial aid awarded to undergraduate student who demonstrates financial need.
·	This is a grant so it does not have to be repaid.
·	In order for a student to eligible to receive a Pell Grant, he / she must be an undergraduate student (have less than a cumulative 120 semesters or 180 quarter credit units and not have received their Bachelor’s degree.)
Federal Work Study
·	Need based financial aid awarded to undergraduate and graduate students who demonstrate financial need which encourages community service work and work relating to their field of study.
Federal Subsidized and Unsubsidized Stafford loans A. Federal Subsidized Stafford Loan
·	Need based variable low interest rate loan available to dependent and independent undergraduate as well as graduate students who demonstrate financial need.
·	Repayment begins six months after graduation or six months from the time the student drops below half-time enrollment or withdraws from school.
·	The government pays the interest while the student is attending school and during the six month “grace” period.
B. Federal Unsubsidized Stafford Loan
·	Non-need based variable low interest rate loan available only to independent undergraduate and graduated students.
·	Repayment begins six months after graduation or six months from the time the student drops below half-time enrollment or withdraws from school.
·	The government does not pay the interest while the student is attending school or during the “grace” period therefore the student is responsible.
·	Interest begins accruing when the loan funds are disbursed. The student may elect to pay the interest while attending school or have the interest “capitalized” (added to the principal loan amount when the loan goes into repayment).
Federal Parent Loan for Undergraduate / Graduate Student (PLUS) Loan
·	Non-need based variable low interest rate loan available to parents of dependent undergraduate students.
·	Loans are issued based on the parent’s credit worthiness and interest begins accruing once the loan funds have been disabused.
·	Repayment of the loan begins sixty to ninety days after the loan funds have been disbursed.

DULA | 440 Shatto Place | Los Angeles, CA 90020 | Tel: 213-487-0110 | Fax: 213-487-0527