At our Institutes, we have a financial plan for everyone. We know that financial aid can be confusing, so leave the hard work to us. Our financial aid professionals are ready to help turn your passion into your career.
You need a financial plan to fund your education and start the career you want. Douglas J offers several financing options to help you design your financial plan. Your options may include federal financial aid programs such as Pell Grants, Stafford Loans, and Parent PLUS Loans. Submitting a FAFSA provides you access to all of these federal financial aid programs.
Any student interested in receiving financial aid will need to create a FSA ID and use it to complete the Free Application for Federal Student Aid (FAFSA). This is best done electronically using the secure website provided by the U.S. Department of Education.
The FAFSA will give applicants the opportunity to list as many as 10 schools to which they would like to send their FAFSA.
It is very important you enter Douglas J’s school code in order for the financial aid department to receive your FAFSA.
Michigan and Tennessee campuses: 025882
Illinois campus: 041410
Financial Aid participants fall into one of two categories – Dependent or Independent.
An applicant who meets any one of the following criteria may be considered Independent:
Independent applicants will only need to provide their information on the FAFSA. Dependent applicants will be required to provide their parent’s information as well as their own. Both the parent and student will need their own FSA ID.
To complete your FAFSA, you will need your and your parent’s (dependent students only) social security number and information from the previous year’s tax return(s). In cases where a financial aid applicant and/or parent may not have been required to file taxes, copies of W2s and other income sources, if applicable, would be helpful.
For those who filed taxes the previous year, the FAFSA offers the IRS Data Retrieval Tool. The process is easy to follow and immediately populates the FAFSA with accurate information from the tax return.
If you are interested in taking out federal student loans, you must also complete a Master Promissory Note and Entrance Counseling to be eligible to receive loan funds. To complete both the Master Promissory Note and/or Entrance Counseling, go to https://studentloans.gov.
Applicants will not be contacted to discuss their financial aid until they call their Admissions Coordinator.
All Douglas J campuses participate in the Federal Direct Student Loan programs as well as the Pell Grant program. Qualifying students may receive Pell Grants, Subsidized and Unsubsidized student loans and parents of dependent students may apply for the PLUS loan.
Pell Grants are gift monies you do not pay back. All student and parent loans must be paid back.
Repayment of student loans is not required until the student has been out of school for 6 months. Parent PLUS loans usually begin repayment while the student is in school, however payments may be deferred.
The information submitted on the FAFSA has a direct bearing on what type and how much financial aid a student/parent may receive. Since this is determined on an individual basis, you will need to submit your FAFSA then contact your nearest Douglas J campus to arrange a meeting with one of our financial aid coordinators. A personalized financial plan will be developed for you and explained in detail.
To speak of differences, let’s start with what is common between the two loans.
The difference between the Subsidized and Unsubsidized loan is in the way the interest is managed.
Douglas J has a financial plan for everyone. During your financial aid meeting, we will discuss all available payment options to find one that works for you.
After you submit your FAFSA, you will want to contact your Douglas J campus to let them know you are interested in attending and have included Douglas J as one of your schools on the FAFSA. At that time, you’ll be scheduled for a ‘Career Counseling’ session. Once you and your admissions coordinator determine Douglas J is the school for you, your appointment with financial aid will be scheduled. Your financial aid coordinator will use information from your FAFSA to create a customized financial plan to meet your needs.