As the cost of college and higher education continues to rise, DoverPhila Federal Credit Union is here to help you navigate your financial journey with confidence. Whether you’re a student heading to college for the first time or a parent supporting a loved one, we provide tools, resources, and guidance to help you make smart financial decisions—before, during, and after college.
Applying for Financial Aid
Creating a plan to pay for college starts with understanding your options for financial assistance.
Begin by filling out the Free Application for Federal Student Aid (FAFSA) — this essential step determines your eligibility for federal aid programs like Pell Grants, work-study, and federal student loans. Many schools also use FAFSA information to award scholarships and need-based assistance.
In addition to FAFSA, explore school-specific scholarships, community grants, and local financial aid programs. DoverPhila members can also access personalized guidance through our Wellness Library’s “Paying for College” collection, where you’ll find articles and calculators that make comparing funding options easier.
And remember to be cautious of scams. If an offer guarantees aid in exchange for payment or personal details, it’s likely fraudulent. Protect your information and only work with trusted, verified sources.
Creating a College Budget
Budgeting is one of the most valuable skills you can build before stepping onto campus.
While tuition and housing are major expenses, don’t forget about transportation, books, technology, meals, and entertainment. Use tools from our “Going to College” collection to learn how to create a realistic college budget, manage credit responsibly, and build strong financial habits from day one.
Try to track your monthly income and expenses to understand where your money goes. A good rule of thumb: save at least 20% of your income for emergencies or unexpected costs. You can also compare potential schools and costs using the U.S. Department of Education’s College Scorecard to make informed decisions that align with your long-term financial goals.
Managing Student Loans and Refinancing Options
For many students and families, loans are a necessary part of financing higher education. DoverPhila offers competitive student loan refinancing options to help you lower your interest rates, consolidate multiple loans, or reduce your monthly payments after graduation.
Whether you’re trying to simplify repayment or save money over time, our Student Loan Refinancing program can help you take control of your financial future. Refinancing with DoverPhila means partnering with a local credit union that cares about your success—not just during college, but long after.
Visit Us and Explore More
Your financial education doesn’t stop at enrollment. DoverPhila offers over 100 free online financial wellness resources, including articles, calculators, and interactive tools designed to help you plan, save, and thrive.
Visit our Wellness Library to start building your financial confidence today.
Above all, remember to enjoy your time at school and take pride in every milestone — you’re investing in your future, and we’re proud to support you every step of the way.