MBA Tuition and Financial Aid

Tuition for the 2018—2019 academic year is $1,290 per credit hour. This rate begins with the July 2018 term.

The MBA@Dayton admission committee tailors your program path based on your academic and/or professional experience, so you may qualify to have some or all of your foundation courses waived. The foundational path requires 36–45 credits; the accelerated path requires 31.5–39 credits; and the one-year path requires 30–31.5 credits to earn your degree.

If you choose to pursue a concentration, you will take an additional three-credit elective course at the cost of $1,290 per credit hour.

2018–2019 Tuition

Program Path Total Tuition Cost
Foundational Online MBA Program $46,440–$58,050*
Accelerated Online MBA Program $40,635–$50,310*
One-Year Online MBA Program $38,700–$40,635*

*Based on 2018–2019 cost of $1,290 per credit hour

The total tuition cost is not due up front. Tuition payments are broken down by term. Students are only responsible for paying for the courses in which they are enrolled for the term. Students are also responsible for immersion travel expenses and fees, which are not included in the cost of tuition.

Financial Aid

U.S. citizens and permanent residents are eligible to apply for federal financial aid programs, which include federal student loans. We encourage candidates to apply for financial aid as early as possible.

You must be registered for a minimum of three credits in order to qualify for financial aid on a term basis. Students who choose to take a less accelerated path toward completion of the degree should be aware that this will impact federal financial aid eligibility.

International candidates should explore funding options in their home countries. While some companies may not advertise that financial support is available, many employers offer tuition benefits, including tuition reimbursement and low-cost loans. Candidates should schedule a conversation with their employer to discuss their professional development goals. Based on each candidate’s country of residence, they may also have access to education loans through private lenders.

How to Apply for Financial Aid

If you plan to apply for financial aid to help fund your online studies at University of Dayton, you will need to complete the following steps.

Applying for PLUS Loans

Contact a Financial Aid Counselor to evaluate your need for additional funding through sources such as a Federal Direct Graduate PLUS Loan from the Department of Education or alternative loans from various private lenders.

  • Prior to borrowing through the Federal Direct Graduate PLUS Loan Program, or any additional private/alternative loan, you may need to review credit reports for potential issues. Contact any of the following credit bureaus for information: Experian, Equifax, or TransUnion.
  • To apply for the Direct Graduate PLUS Loan, complete the credit application PLUS loan request online.

When You Are Admitted

Upon enrollment to a University of Dayton program and successful completion of the federal financial aid requirements, you will receive an email in your University of Dayton email account directing you to Porches, which is our student portal.

For more information regarding financial aid for MBA@Dayton, visit the Graduate Financial Aid Page.

If you have any questions about tuition and financial aid at University of Dayton, please email us at financialaid@onlinemba.udayton.edu.

Tuition and Financial Aid FAQ

Tuition and Billing

How does billing work?

All billing questions can be answered by Office of Student Accounts.

How do I pay my bill?

You can pay your bill online directly through My Payment Center, which can be found on Porches. Go to Porches, select Flyer Student Services, then go to My Payment Center. You may use:

  • An e-check – ACH
  • A credit card (A convenience fee is required.)

You may also mail a payment via check to the processing center listed on your bill. If you are local to the University of Dayton, you may pay in person during normal business hours at St. Mary’s Hall, Room 108. You may use:

  • A check
  • Cash

Are there payment plans available?

No, payment plans are not available.

My employer is supplementing my costs. How does it pay the school?

Your employer should use the same methods discussed under “How do I pay my bill?” If your employer is reimbursing you for tuition costs, we offer an Employer Deferred Tuition Reimbursement Plan. For questions, please contact Kathy Ferguson between 8:30 a.m. and 4:30 p.m. Monday through Friday:

Email: kferguson1@udayton.edu
Phone: 937-229-4113 or 1-800-259-7117
Fax: 937-229-4117
Office: 108 St. Mary's Hall, 300 College Park Drive, Dayton, OH 45469-1600

The FAFSA

What is the FAFSA?

The Free Application for Federal Student Aid (FAFSA) is the Department of Education’s application for determining a student’s eligibility for federal student aid.

Where can I find the FAFSA?

You can complete the FAFSA online at fafsa.gov.

What is University of Dayton’s federal school code?

University of Dayton’s FAFSA code is 003127, which must be included in the college release section of the form.

Do I need my parents’ tax information to complete the FAFSA if I live on my own?

Graduate students will be considered independent and do not need parent financial information to complete the FAFSA.

When is the earliest I can complete the FAFSA?

Each year the updated FAFSA is available Oct. 1.

What is the deadline for completing the FAFSA?

There is no deadline, and the FAFSA will be reviewed on a rolling basis as it is received. It is recommended that the FAFSA be completed by May 1st prior to each academic year. FAFSAs should be submitted no later than 30 days prior to the end of the academic semester in which you are enrolled.

What constitutes an academic year for federal student aid?

The academic year is July 1-June 30.

Who is eligible to apply for federal student aid?

In order to apply for federal student aid, you must:

  • Be U.S. citizen or eligible noncitizen
  • Have valid Social Security number
  • Be registered with Selective Service if you’re male (must register between the ages of 18-25)
  • Be enrolled or accepted for enrollment as a regular student in an eligible degree program
  • Be enrolled at least half-time in an eligible program
  • Maintain satisfactory academic progress
  • Not currently be in default on previous student loans borrowed through federal student aid
  • Not have exceeded the maximum aggregate loan limit

Learn more about student eligibility criteria.

What types of federal student aid are available to graduate students?

Graduate students can apply for the Direct Unsubsidized Loan (sometimes referred to as a Stafford Loan) and the Direct PLUS Loan. Online students are not eligible for federal work study. Learn more about types of federal financial aid.

Will I need to fill out the FAFSA each year?

Yes, the FAFSA needs to be completed each academic year. Federal student aid eligibility does not carry over from one award year to the next.

Why am I not eligible for the Pell Grant or Direct Subsidized Loans?

The Department of Education only awards the Federal Pell Grant and Direct Subsidized Loan to students pursuing degrees at the undergraduate level.

Direct Unsubsidized Loans

How do I get the Direct Unsubsidized Loan?

To apply for a Direct Unsubsidized Loan (also called a Stafford Loan), you must first complete and submit the Free Application for Federal Student Aid (FAFSA). Your school will use the information from your FAFSA to determine how much student aid you are eligible to receive.

What does Unsubsidized mean?

Direct Unsubsidized Loans are federally guaranteed loans that start accruing interest as soon as the loan is disbursed. There is no requirement to demonstrate financial need to be eligible for this loan. Learn more about Direct Unsubsidized Loans.

What is the aggregate loan limit?

Your aggregate loan amount is the total you can borrow across the course of your education. The aggregate amount for graduate and professional students is $138,500, which includes all federal loans received for undergraduate study. Learn more about aggregate loan amounts or visit nslds.ed.gov to view your federal loan borrowing history.

What is the current interest rate?

The current interest rate for Direct Unsubsidized Loans can be found on the Federal Student Aid website.

Do I have to pay my loans while I’m in school?

You are not required to pay on your student loans while you are in school. Your unsubsidized loan will go into repayment six months after you graduate, take a leave of absence or fall below half-time status.

What criteria are used to determine eligibility?

In order to apply for federal student aid, you must:

  • Be U.S. citizen or eligible noncitizen
  • Have valid Social Security number
  • Be registered with Selective Service if you’re male (must register between the ages of 18-25)
  • Be enrolled or accepted for enrollment as a regular student in an eligible degree program
  • Be enrolled at least half-time in an eligible program
  • Maintain satisfactory academic progress
  • Not currently be in default on previous student loans borrowed through federal student aid
  • Not have exceeded the maximum aggregate loan limit

Federal Direct Unsubsidized Loans are not income-dependent and are not dependent on credit scores.  Learn more about student eligibility criteria.

Can I consolidate my graduate loans and my undergraduate loans?

A Direct Consolidation Loan allows you to consolidate (combine) multiple federal education loans into one loan including both graduate and undergraduate loans. The result is a single monthly payment instead of multiple payments. Learn more about loan consolidation here.

Are there any additional loan fees?

Yes, there is a current loan origination fee that is 1.069% of the total loan amount. The loan origination fee is deducted proportionately from each loan disbursement you receive.

What if I am currently in default or have defaulted on a prior federal student loan?

Review your loan history at nslds.ed.gov and contact your lender for details on how to clear the default.

Direct Graduate PLUS Loans

What is a Direct Graduate PLUS Loan?

Direct Graduate PLUS Loans are federal loans that graduate or professional degree students can use to help pay for education expenses. Direct PLUS Loans are dependent on credit scores. Learn about Direct PLUS Loans.

How do I apply for a Direct PLUS Loan?

In order to apply for a Direct PLUS Loan, you must first complete the Free Application for Federal Student Aid (FAFSA). Once you have completed the FAFSA, you can apply for the Direct PLUS Loan by completing the credit application online.

What is the current interest rate?

The current interest rate for Direct PLUS Loans can be found on the Federal Student Aid website.

What are the credit criteria for the Direct PLUS Loan?

To receive a Direct PLUS Loan, you cannot have an adverse credit history. A credit check is performed to determine whether you meet this requirement. Learn more about what constitutes adverse credit history.

What are my options if I'm denied a Direct PLUS Loan?

You may reapply with an endorser or appeal the denial. See the Department of Education's instructions on appealing a denial.

Do Direct PLUS Loans affect my aggregate loan limit?

No, only Direct Subsidized and Direct Unsubsidized Loans are used to calculate your aggregate loan limit.

When do I have to repay my Direct PLUS Loan?

Your Direct PLUS Loan will go into repayment six months after you graduate, take a leave of absence or fall below half-time status. You are not required to pay your student loans while you are in school.

How much can I borrow with the Direct PLUS Loan?

If approved for a Direct PLUS Loan, you can borrow up to the full program budget as determined by University of Dayton.

Are there additional loan fees?

Yes, there is a loan origination fee that is 4.276% percent of the total loan amount. The loan origination fee is deducted proportionately from each loan disbursement you receive.

Military Benefits

How do I apply for military benefits?

To begin the process of applying for eligible military education benefits, visit the Veterans Affairs website.

What else do I need in addition to my Education Benefits Application?

Visit Vets.gov to complete the Education Benefits Application, which generates a request for the Certificate of Eligibility (COE). Once approved for benefits, the VA will mail the COE to you within 6-8 weeks from submitting the application.

What is the national maximum per academic year for private schools?

The Post 9/11 GI Bill payment rates are determined at the beginning of each military academic year on August 1st. The 2018-2019 tuition and fee payments can be found on the Education and Training page of the U.S. Department of Veterans Affairs website.

What is the Yellow Ribbon Program?

The Yellow Ribbon program allows degree-granting private colleges and universities in the United States to voluntarily enter into an agreement with the VA to fund tuition expenses that exceed the annual maximum cap for the resident tuition and fees at public institutions. Veterans who are utilizing Post-9/11 GI Benefits and who are entitled to 100% of their benefit may be eligible. To participate in the Yellow Ribbon program, you must be using Post-9/11 GI benefits at 100% eligibility, not on active duty, and not a military spouse. There are a limited number of Yellow Ribbon awards available. Learn more about the Yellow Ribbon Program at Dayton.

What is the difference between active and nonactive duty?

Active-duty service members serve the military full time and are not currently eligible for the YRP. Nonactive-duty service members are not currently serving the military in any capacity and are eligible for YRP at 100 percent per COE.

Am I eligible for Post-9/11 GI Bill benefits?

You are potentially eligible if you have at least 90 days of aggregate active duty service after Sept.10, 2001, and are still on active duty, or if you are an honorably discharged Veteran or were discharged with a service-connected disability after 30 days, you may be eligible for this VA-administered program. Learn more about the Post-9/11 GI Bill.

What is the current Monthly Housing Allowance (MHA)?

The Post 9/11 GI Bill payment rates are determined at the beginning of each military academic year on August 1st. The 2018-2019 MHA rate can be found on the Post-9/11 GI Bill page of the U.S. Department of Veterans Affairs website.

Loan Repayment

When do I have to pay back my loan?

After you graduate, leave school or drop below half-time enrollment, you will have a six-month grace period before you are required to begin repayment. During this period, you'll receive repayment information from your loan servicer, and you will be notified of your first payment due date. Payments are usually due monthly. Learn more about repayment timelines.

Can I consolidate my graduate loans and my undergraduate loans?

A Direct Consolidation Loan allows you to consolidate (combine) multiple federal education loans into one loan including both graduate and undergraduate loans. The result is a single monthly payment instead of multiple payments. Learn more about loan consolidation.

What are the repayment plan options, and how do I select one?

Lenders offer a range of repayment options, including income-based repayment. Your lender will contact you during your six-month grace period to select a repayment option. You should select your repayment option before your first payment is due.

University of Dayton Financial Aid

When will I receive my financial aid award package?

A number of factors go into timing the release of financial aid awards: your admission to a degree-seeking program, having FAFSA results on file and our SAP review (returning students). With that in mind, the Office of Financial Aid generally begins the new school year award cycle in mid-July.

Do I have to pay my tuition deposit before I can receive my award package?

No, Office of Financial Aid will award once you are an admitted student based on anticipated enrollment.

Can I use financial aid to pay my deposit?

No, financial aid cannot be used to pay your deposit.

Can I use loans to cover expenses beyond tuition (housing, books, living expenses, immersions, etc.)?

The cost of attendance budget includes funding for books and technology expenses, as well as a moderate amount that can be used for living expenses. If you borrow to cover expenses beyond tuition and fees, which would be reflected on your tuition bill, keep in mind that refunds are disbursed in compliance with federal regulations. Students are encouraged to borrow responsibly. Remember, you can borrow less than what is offered, and you should only borrow what you need.

Credit balances resulting from loans or financial aid awards are available for refunding after the first week of the semester.You may sign up online for direct deposit of refunds, otherwise checks will be mailed to your permanent address on file. Instructions are on the Flyer Student Services website.

How do I accept my student loans?

In order for your loan to be officially disbursed, you must sign your award letter and the Master Promissory Note (MPN), and Entrance Counseling must be completed online after accepting the loan. You will need to use your federal student aid ID and password to access the site and complete the required paperwork. Award letters will not go out to students unless the MPN and Entrance Counseling are completed.

Will I receive a loan disbursement each term?

Financial aid will be disbursed to your student account after the first week of classes as long as you are enrolled at least half-time, which is a minimum of 3 credit hours, for the upcoming semester.

Does my Direct Unsubsidized Loan eligibility cover the entire cost of the program?

Graduate and professional students can generally borrow enough to cover tuition and fees at University of Dayton.

Does University of Dayton require that I complete any supplemental financial aid forms?

No.

What can affect my eligibility for student loans?

Federal regulations require that students receiving federal Title IV financial aid maintain satisfactory academic progress (SAP). SAP is evaluated at the end of the spring term. If you are not maintaining progress, you will be notified by Office of Financial Aid and you may be ineligible for financial aid. The minimum semester and cumulative grade-point averages needed to meet the SAP requirement are set by your school and are dictated by your program of study. Please carefully read our complete SAP policy in the Student Handbook for additional information.

How many credits must I register for to be eligible to receive federal student aid?

MBA@Dayton students must register half time, which is a minimum of 3 credit hours, to receive student aid each semester. Students must complete 75% or more of their attempted credit hours while maintaining a B (3.0) minimum GPA

Are there any scholarships available for this program?

Students may qualify for select competitive awards offered by the MBA@Dayton program or can identify private independent scholarships for which they can apply separate of the application or the federal aid process.

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