Like any sound investment, a graduate degree will yield positive outcomes for years to come. That’s why the Daniels College of Business is committed to help you invest in your future and finance your degree. We recently sat down with Brad Rosenwinkel, Executive Director of Graduate Admissions, to learn more about the various financial aid options and resources available to students.
Q: What financial aid options are available for domestic and international students?
A: There are two types of financial aid awards available: merit-based and need-based.
At the graduate level, most awards are merit-based and come in the form of scholarships and graduate assistantships (GA). These awards are granted to students with outstanding academic performance and relevant work experience. Both domestic and international candidates are eligible for merit-based awards. There is no separate application process to qualify for these opportunities as each candidate is automatically considered during the admissions process. For the past several years, more than 80% of accepted students received merit-based awards from Daniels, with most ranging from $5,000–$24,000 for specialized master’s programs and $10,000–$60,000 for the Denver MBA (full-time). Those who qualify for a graduate assistantship are provided a three-credit tuition waiver per quarter and a small stipend (for a total value of more than $15,000 annually).
Domestic candidates may also be eligible for need-based awards based on a student’s Free Application for Federal Student Aid (FAFSA). This award is not determined until a student has confirmed attendance at Daniels and completed the FAFSA. Generally, these awards range from $1,500–$6,000 per year for a maximum of two years. Work-study positions are also available for domestic students who have financial need as determined by the FAFSA.
Several additional financing options are available and most students fund part of their graduate education through loans. Nearly all domestic students qualify for federal loans through filing the FAFSA. The University of Denver has also partnered with MPower Financing to provide financing options international candidates (without a co-signor).
Q: Explain what the DU flat tuition model means for our programs.
A: DU utilizes a flat tuition model to encourage graduate students to complete their degree in a timely fashion. Generally, this means that it is to your benefit as a student to take more than 12 credit hours each term, as you will not be charged additional tuition per credit hour rates up to 18 hours. For example, it would benefit a student to take more than three classes (12 credit hours) as a fourth class (16 credit hours) would be free of charge. This flat rate encourages students to complete their degree in a timely manner while reducing the cost of their overall education.
Q: Are there specific scholarships for targeted audiences?
A: The Daniels College of Business values diversity and works to support underrepresented groups in their pursuit of graduate management education. Additionally, we offer half-tuition in-state scholarships for qualified Denver MBA (full-time) candidates.
We also value the service of military veterans. In partnership with the Department of Veteran Affairs (VA), Daniels offers unlimited Yellow Ribbon funding to candidates that have 100% GI Bill and Yellow Ribbon eligibility (as determined by the VA) to cover the full cost of tuition for our graduate programs.
Q: What are my chances of getting a scholarship?
A: It is impossible to predict the chance of admission or financial aid awards without review of a completed application and all required materials. We encourage candidates to submit their application materials when they are strongest but doing so in the earlier rounds of our application deadlines provides best consideration for these opportunities. Generally, over 80% of accepted students receive merit-based awards from Daniels.
Q: How long will it take to receive my financial aid package after submitting my materials?
A: Merit-based scholarships and graduate assistantships are offered at the time of admission and outlined in admission letters for those that are awarded. Students are notified of admission no later than 4-8 weeks after the deadline to which they submitted their application. Please see the application deadlines on our website to find the corresponding notification dates.
Domestic candidates must file the Free Application for Federal Student Aid (FAFSA) in order to be considered for need-based awards, work study positions, and/or student loans. These awards will be outlined in the financial aid award letter from DU typically within 2-4 weeks after an offer of admission and completion of the FAFSA.
Want to learn more? We have additional financial aid and scholarship details on our admission website. Contact our Graduate Admissions team at 303.871.3416 with any questions.