The priority deadlines for the Free Application for Federal Student Aid (FAFSA) and College Scholarship Service (CSS) Profile are on March 15 for continuing students at DU, less than a month away.

The FAFSA, which determines federal and state aid, has been available since Jan. 1, and the CSS Profile, which determines institutional aid, has been available since Oct. 1.

“Certain types of aid are limited, particularly federal and state funding,” said Chris George, DU’s financial aid director. “They can be exhausted by students who meet the deadlines.”

George also said while the Office of Financial Aid prefers accurate numbers, it’s better to estimate the numbers and get the application in on time than turn it in late.

Continuing students should receive their complete financial aid package by late May, before they leave for the summer.

According to George, 85 percent of DU’s undergraduates receive some sort of financial aid. About 45 percent is need-based, while the other 40 percent is merit-based.

Financial aid packages range from $3,000 to full tuition, with the average package offering around $30,000. However, this number is increasing every year. George said in the last five years, DU’s institutional aid has increased by 50 percent.

DU’s tuition and fees amount to approximately $38,000. Forty-four percent of DU students borrow money, averaging about $27,000 in federal and private loans in the 2010-2011 year. The standard repayment for these loans is 10 years, paying $250-$300 a month. However, some income-based programs can extend that to 25 years of smaller payments.

“A good general rule is not to borrow more money than you can make in your first year out of college,” said George. “So, I feel pretty good about our $27,000.”

According to George, the Office of Financial Aid is trying to add more summer aid this year to make it more affordable for students to study at DU during the summer quarter.