Tuition & Financing FAQs
Paying for graduate school with the help of financial aid is important for many people. At Keller, we are dedicated to helping answer your financial aid questions. Here are some frequently asked questions about graduate school tuition and how financial aid can help you.
What is the interest rate on a student loan?
Please visit https://studentaid.ed.gov/sa/types/loans/interest-rates for the most up to date interest rate information.
Private loans are made by banks or lenders (not the U.S. Department of Education), and interest rates will vary based on several factors.
How often do I need to complete the Master Promissory Note?
The Master Promissory Note MPN is good for ten (10) years in most instances.
How do I check to see if I have financial aid for a certain term?
You can view your financial aid information on the student portal at my.keller.edu. Click on the "Student Finance" tab and view your award information under "Financial Aid Awards".
When can I expect my credit balance?
Disbursements occur between weeks two through five of each session. Credit balances will be mailed within 14 days from the date of the resulting credit balance on your student account. If you are eligible for a credit balance and have not received your check within 14 days of your credit balance notification, please contact us at that time.
What happens to my financial aid if I withdraw?
Federal Return of Funds Policy
According to federal regulations, a federal refund calculation must be performed if a student who is receiving financial aid withdraws completely from all classes after the start of the enrollment period.
Length of enrollment is equal to the number of calendar days in the periods in which the student was registered, excluding breaks of five days or more. All days, including weekends and holidays, are counted.
The withdrawal date is the date the student begins the official withdrawal process or otherwise officially notifies the institution of his/her intent to withdraw (electronically, in writing, in person or by telephone, whichever is earlier). For students who withdraw without notification, the school may use either the last date of academic attendance or the midpoint of the enrollment period as the withdrawal date. Failure to notify the Financial Aid Office of a withdrawal may result in additional tuition liability.
- If the percentage of the enrollment period completed is 60 percent or more, the student has earned and must repay 100 percent of the federal aid.
- If the percentage of the enrollment period is 60 percent or less, the calculated percentage will be used to determine the amount of aid returned.
Example: 20 percent of the enrollment period completed earns the student 20 percent of the entitled federal aid.
Federal aid refunds are distributed according to the order below:
1. Unsubsidized Direct Federal Loan
2. Subsidized Direct Federal Loan
3. Federal Perkins Loan
4. Federal PLUS Loan
5. Federal Pell Grant
6. Federal Supplemental Education Opportunity Grant (FSEOG)
7. Other Title IV aid programs
8. State grants, private or other institutional aid
9. The student
Tuition refunds are calculated independently from financial aid award (or return) calculations. Official course withdrawal requests must be submitted to the appropriate academic administrator or an online student services advisor either in person or in writing. Review the Academic catalog for complete information regarding withdrawal policies.
If you withdraw from any course before Week 5, your tuition may be reduced in accordance with DeVry University policies. If such a reduction occurs, the amount of adjustment will be returned to your lender as an early repayment of funds. Also, under U.S. Department of Education policy, the amount of expenses to which you are entitled may be prorated if you withdraw from a class. This amount will be calculated from software provided by the U.S. Department of Education; and any amount adjusted will be returned to your lender and charged back to your DeVry University account. Thus, you may have already have received a refund check and an adjustment will be made to your account resulting in a balance. You will be required either to pay that balance before you are allowed to register for your next class or, in some instances, arrangements may be made to pay the balance with funds from your next loan disbursement.
When funds are returned to the lender, it is assumed that a student is no longer attending class and is not returning, so future disbursements are canceled. For that reason, if you drop a class and plan to attend class the following term you should submit a request to the DeVry University Student Finance Office at my.keller.edu to have your loan reinstated.
Am I full time or part time?
Six or more semester credit hours is considered full time enrollment, and three to five semester credit hours is considered half-time enrollment.
What if my status changes from part-time to full-time and I need additional funding?
If you need to request additional funds due to enrollment status change (part-time to full-time), you must submit the request to the Graduate Student Finance Services at my.keller.edu. The academic year loan limit is $20,500, or your budget limit, whichever is less.
How do I contact the Keller Graduate Student Finance Office?
Keller Student Finance Professionals are available to answer your financial aid questions or concerns. To speak with Keller Student Finance, contact your local campus or center. Online students can call 877-496-9050 to speak with an Online Student Finance Professional.