Detroit Business Institute-Downriver has various financial aid programs available to assist qualified high school graduates and GED recipients. There are both grant and loan programs available to eligible students. Students must complete a “Free Application for Federal Student Aid” (FAFSA) in order to apply for federal student financial aid. The financial aid department will assist eligible students in applying for financial aid.
Federal Student Financial Aid Eligibility
To be eligible to receive student financial aid at DBI-Downriver, students must meet the following eligibility requirements:
- Have a high school diploma or General Educational Development (GED) certificate.
- Be a U.S. citizen or an eligible non-citizen.
- Have a valid social security number.
- Register with the Selective Service if you are a male between the ages of 18 and 25.
- Demonstrate financial need based on the U.S. Department of Education’s criteria.
- Maintain satisfactory academic progress while in school.
- Must satisfactorily complete all necessary student financial aid paperwork.
Federal Grant Aid
Federal Pell Grant
The federal Pell Grant Program is a form of financial aid that does not need to be repaid. Eligibility is based on financial need as determined by the criteria established by the U.S. Department of Education. The current maximum award is $5,775.00 per year.
Federal Supplemental Educational Opportunity Grant
The Federal SEOG program is a form of financial aid that does not need to be repaid. This grant program is available for students with exceptional financial need based on the student’s expected family contribution (EFC). Federal Pell Grant recipients will take priority. Grants range from $100.00 to $4,000.00 per academic year, depending on the amount of funds available.
Federal Student Loans
Federal Direct Stafford Loans
Click here for the Code of Conduct for Student Loans
The Federal Direct Loan program is a form of financial aid that has to be repaid. These low-interest loans are for eligible students to help meet part of their educational costs. The lender is the U.S. Department of Education.
Net Price Calculator
The U.S. Department of Education requires postsecondary institutions that participate in federal student financial aid to post a net price calculator on the institution’s website to estimate a student’s price of attendance. The tuition rates used to calculate the price of attendance in the Net Price Calculator is based on the 2021-22 tuition rates for the Practical Nurse program. Click here to access the Net Price Calculator.
The programs at Detroit Business Institute-Downriver are approved for the training of veterans. Maximum benefits are provided to veterans who attend on a full-time basis. Children of veterans who died or are permanently disabled may also be entitled to educational benefits.
A veteran or dependent should contact the admissions department or the Veterans’ Administration for further information.
GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government website at www.benefits.va.gov/gibill.
Alternate Payment Plans
Students who do not qualify for financial aid may apply for a deferred payment plan or a tuition finance plan. The deferred payment plan allows students to pay the tuition over the length of the program with no interest charge. The tuition finance plan allows the student to finance the tuition up to 48 months. For more information, contact the admissions department.
Tuition Savings Plan
Pay the entire cash balance of your tuition on or before the first day of class and receive a 6% discount. This plan is not available if there are other funding sources paying your tuition, such as student financial aid, scholarships, or any third-party payments.
Standards of Satisfactory Academic Progress
Student Academic Progress (SAP) is evaluated at the end of each academic term based on the student’s grade point average (GPA) and the maximum time frame for successful completion of the program. Students who fail to maintain a 2.5 grade point average for any academic term will be placed on academic probation the following term. Click here for more information and details.
Return of Federal Title IV Aid Policy
The federal “Return of Title IV Funds” applies to any student receiving federal financial aid, who fails to complete the academic term for which he or she has been charged. The formula to determine the amount of Title IV federal aid to be returned by the school to the federal government is calculated as follows: A percentage of Federal Title IV aid will be returned to the federal government if the student withdraws during the first 60% of the school’s payment period. The percentage of Title IV aid to be returned is equal to the number of calendar days remaining in the payment period, divided by the total number of days in the payment period. Scheduled breaks of more than five consecutive days are excluded from the calculation. The withdrawal date used in the calculation of Return of Title IV financial aid funds will be based on the student’s last day of academic attendance in class. This date is used whether a student officially or unofficially withdraws based on the daily academic attendance records. Click here for more information and details.