Grants and Loans
Grants
The university maintains a substantial grant program (that is, gift aid that does not require repayment) for students who demonstrate need. The FAFSA serves as the application for Dominican grants, which vary in amount depending on need and other aid received.
The U.S. Department of Education awards Pell Grants to students who demonstrate high financial need. These grants range in value from $606–$5,920 per year. A student must be enrolled in his/her first undergraduate degree program to qualify.
The university participates in the Federal Supplemental Educational Opportunity Grant (SEOG) Program. The FAFSA serves as the application for this award; awards are based on need and the availability of funds and average $1,500. These grants are limited to Pell Grant recipients who live on campus.
Illinois state monetary awards are available to Dominican students through the Illinois Student Assistance Commission Monetary Award Program. The maximum grant is currently $4,720. This need-based grant is available to Illinois residents only. The FAFSA serves as the application for the MAP Grant.
Loans
The university participates in the William D. Ford Federal Direct Loan Program, which is administered by the U.S. Department of Education and which enables students enrolled at least half-time to borrow directly from the federal government.
Student Loans
Direct subsidized loan limits are $3,500 per year for freshmen, $4,500 for sophomores and $5,500 for other undergraduates. For a Direct subsidized loan, repayment of principal and interest is deferred until after the borrower graduates or enrolls less than half-time. Students are eligible for an additional $2,000 in the Direct unsubsidized loan. Extensive information regarding the Direct Loans Program can be found online.
Students must complete an entrance counseling session and electronically sign a Master Promissory Note prior to obtaining a Direct student loan. To complete the entrance counseling session and electronically sign the Master Promissory Note, visit the Direct Loans website.
Additional Direct unsubsidized loan funds are available to independent undergraduate students. Loan limits vary depending on academic year.
Federal Parent PLUS Loans
Federal Direct Parent Loans for Undergraduate Students (PLUS) are available to parents of undergraduate students who need to supplement other sources of financial aid. The interest rate is 6.31%. Repayment begins after the loan is fully disbursed, but may be deferred while the student is enrolled. Parents apply for the Federal Direct PLUS Loan on the Direct Loans website and must also complete Dominican University's Parent PLUS Loan application (pdf). Dependent students whose parents have applied for, but were unable to get a Federal Direct Parent PLUS Loan are eligible to receive additional Direct unsubsidized loan funds and should contact the Office of Financial Aid at (708) 524-6809, or at finaid@dom.edu for further instructions.
Have a question?
Email the Office of Financial Aid at finaid@dom.edu or call (708) 524-6809 or (800) 828-8475 if outside the Chicago area.