Determining Financial Need

DePauw looks at the family as the primary source of college funding and understands most families must finance such an investment over a series of months or years.

Eligibility for financial assistance is determined by the Free Application for Federal Student Aid (FAFSA). The financial aid office will review your family's Student Aid Index (SAI) as determined by the FAFSA to calculate the amount the family could be expected to invest in educational costs from current income and supplemental borrowing.

Financial need is defined as the Cost of Attendance (COA) minus the Student Aid Index (SAI). The cost of attendance is the sum of direct and indirect costs (see our Tuition and Fees page for more information). 

Factors used to determine the SAI include:

• Student and parent income 
• Business net worth, stock losses, depreciation, business losses, and the like
• Student and parent assets (such as cash savings, investments, and business value)
• Living costs, medical costs, and taxes paid

Factors that we do NOT consider are:

• Siblings in college
• A family's individual debt levels
• Retirement savings accounts

The types and amounts of financial aid offered to a student are dependent on the financial need that the family demonstrates. Although we cannot guarantee to meet the full demonstrated need for all students, we will strive to provide funding options that make it possible for admitted students to attend.

Policies:

• The family is viewed as the primary source of funding for a DePauw education.
• To be eligible for DePauw grants and scholarship, students must meet deadlines for financial aid materials unless there are extraordinary circumstances.
• Financial aid is calculated and awarded for on-campus study. Additional costs may be incurred to study off-campus for a semester, year or for a winter term. Financial support may be available to help pay for additional costs. The financial aid office will also assist students with supplemental loan options.
• Outside scholarships will first replace self-help (work-study and subsidized loans) before they affect DePauw grants and scholarships.
• The Satisfactory Academic Progress policy outlines conditions for maintaining and renewing financial assistance.