Financial Aid: A Helping Hand
Financing an education begins with proper planning. Therefore, all applicants are scheduled to meet with a financial aid administrator to develop a personalized plan to meet their educational expenses.
How to Apply
Each year, aid applicants must submit a Free Application for Federal Student Aid (FAFSA). This application may be submitted in person to the Financial Aid Office, via U.S. mail to the Federal Processor, or online at www.fafsa.ed.gov. The Financial Aid Office may request additional documentation to support the student’s request for financial assistance, including signed copies of federal income tax returns. The student’s financial aid package can not be finalized until the Financial Aid Office has received all requested documentation. It is the student’s responsibility to ensure that current address and telephone contact information is provided to the College. Renewal of financial aid is not automatic. Recipients are required to reapply each year by the announced deadline. Federal aid will be awarded to the student based on need as determined by Federal formulas. Dover Business College aid will be awarded by the Financial Aid Director according to institutional guidelines for each aid program.
Tuition and Fees
Tuition is payable in advance and may be paid with cash, check, money order, MasterCard, Visa, Discover, or American Express. Tuition for each course within a program of study differs; fees and tuition are listed in the current College Catalog and in the Enrollment Agreement.
Although many students pay their tuition in full at entry, tuition and fees may be paid according to a plan designed to meet the individual needs of the student. Details of the various alternatives may be obtained from the Financial Aid Office.
Dover Business College can assist you with applications for the following:
Federal Pell Grant:
The Pell Grant Program provides awards of up to $4,310 per academic year for financially eligible undergraduate students who previously have not earned a Bachelor's degree. Recipients must be United States citizens or eligible non-citizens enrolled in diploma programs. The Free Application for Federal Student Aid (FAFSA) must be completed when applying for financial aid.
Federal Subsidized Stafford Loan (FSL):
This subsidized student loan program provides the greatest amount of self-help student financial assistance to college students. A fixed interest rate of 6.8 percent applies to all Stafford loans. In most cases repayment must be completed within 10 years. First year students may borrow up to $3,500 for educational expenses; eligible second year students may borrow up to $4,500.
Students may borrow a Stafford Loan from any lender that participates in the Federal Family Education Loan Program (FFELP) by completing a Master Promissory Note with the name and address of the lender. Promissory Notes may be submitted either electronically to the lender or via paper application to the school. Blank MPNs are available at each campus Financial Aid Office. Loans will be certified by the College for eligible students based on grade level and need, as determined by Federal formulas.
Unsubsidized Federal Stafford Loan (UFSL):
Unsubsidized FSL loans are not based on need. Funds are provided in the same manner as Subsidized Federal Stafford Loans, but the interest accrued during attendance in college is not paid by the U.S. government; it is either capitalized or must be paid monthly by the borrower while in school.
A fixed interest rate of 6.8 percent applies to all Stafford loans. In most cases repayment must be completed within 10 years. Up to $4,000 may be borrowed per academic year for educational expenses. Students not eligible for a subsidized FSL may borrow up to $7,500 of unsubsidized FSL in the first academic year, and up to $8,500 in the second academic year.
Students may borrow a Stafford Loan from any lender that participates in the Federal Family Education Loan Program (FFELP) by completing a Master Promissory Note with the name and address of the lender. Promissory Notes may be submitted either electronically to the lender or via paper application to the school. Blank MPNs are available at each campus Financial Aid Office. Loans will be certified by the College for eligible students based on dependency status, grade level and need, as determined by Federal formulas.
Federal Parent Loan for Undergraduate Students (FPLUS):
Parent loans for educational expenses are not based on need, but parents are required to pass a credit check. Funds are provided in the same manner as Federal Stafford Loans, but interest is either capitalized or must be paid monthly by the parent while the student is in school.
A fixed interest rate of 8.5 percent applies to all FPLUS loans. Interest begins to accumulate at the time the first disbursement is made. Repayment begins 60 days after the loan disbursement. In most cases, FPLUS loans must be repaid within 10 years. Parents may borrow up to the cost of attendance minus other financial assistance.
Parents may borrow PLUS Loans from any lender that participates in the Federal Family Education Loan Program (FFELP) by completing a Master Promissory Note with the name and address of the lender. Promissory Notes may be submitted either electronically to the lender or via paper application to the school. Blank MPNs are available at each campus Financial Aid Office. Loans will be certified by the College for eligible students based on dependency status and need, as determined by Federal formulas.
Federal Supplemental Educational Opportunity Grants (FSEOG):
In addition to a federal grant and/or student loan, students of exceptional need may be awarded a Federal Supplemental Grant of $100 to $1,500 per academic year. Preference for these awards is given to Pell Grant recipients. Eligible students are automatically considered for this grant.
Benefits For Veterans:
Veterans and other eligible personal planning to receive educational assistance benefits from the Veterans Administration (VA) should obtain VA approval prior to enrolling.
Workforce Development Programs:
Dover Business College is approved by the New Jersey Department of Labor to participate in Workforce Investment Act (Workforce Development Program) and the Division of Vocational Rehabilitation Program for those who qualify.
Scholarships and Awards:
Each year Dover Business College offers scholarships and awards to qualified individuals, including Adult Learner Awards, Cooperative Industrial Education Awards, and Career Education Grants. Additional information regarding these scholarships and awards is available from the Financial Aid Office.
Alumni Scholarships:
Dover Business College awards 2 full-tuition and 16 partial-tuition scholarships annually to high school seniors who demonstrate a high level of achievement in high school combined with the highest level of achievement on the scholarship examination. Additional information and application forms are available from high school guidance offices or either campus of Dover Business College.
