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How do I apply for Financial Aid?
What is the college code?
What if I need help completing the forms or have unusual circumstances?
Why do I have to give the Financial Aid office a copy of my and/or my parents' federal tax return?
When do I apply for Financial Aid?
Do I have to be full-time to apply for Financial Aid?
Am I eligible for Financial Aid if I am currently in default on a student loan?
How will I know how much money I am eligible to receive?
How will I know if I am eligible for a PHEAA State Grant?
How do I apply for a loan?
When should I apply for a student loan?
How do I choose a bank/lender?
What is "work-study" and how do I apply?
How and when will I get my money?
What do I do if I want to add or drop a class?
What do I do if I want to completely withdraw from classes?
HOW DO I APPLY FOR FINANCIAL AID?
You annually must complete a Free Application for Federal Student Aid (FAFSA). Go to www.fafsa.ed.gov to complete a FAFSA. Sign your FAFSA electronically using a PIN. Request a PIN at www.pin.ed.gov. (back to top)
WHAT IS THE COLLEGE CODE?
The college code for Wilson College is 003396. (back to top)
WHAT IF I NEED HELP COMPLETING THE FORMS OR HAVE UNUSUAL CIRCUMSTANCES?
The Financial Aid Office staff is here to assist you in completing the forms if you have questions or need help. If you have unusual or unique circumstances (i.e., divorce, separation, unemployment, etc.), you should bring it to the attention of the Financial Aid Office. Please contact the office at 717-262-2016 or email email@example.com. (back to top)
WHY DO I HAVE TO GIVE THE FINANCIAL AID OFFICE A COPY OF MY AND/OR MY PARENTS' FEDERAL TAX RETURN?
Sometimes the federal processor selects a FAFSA record for additional verification. Written documentation (tax returns, copies of W-2 forms) to support the accuracy of your request for financial aid, including the Federal Direct Stafford Student Loan program, may be requested from the Financial Aid Office before the award process begins. Students selected for verification will be notified by the Financial Aid Office of what is needed to complete your request for financial aid. (back to top)
WHEN DO I APPLY FOR FINANCIAL AID?
You should apply for financial aid every year as soon as possible after January 1. The priority deadline for work study and many Wilson College scholarships is April 30 for the Fall Semester enrollment and November 1 for the Spring Semester enrollment. Applications MAY be filed after the deadline and will be processed according to the date received. The submission of complete applications and other required documents shoud be submitted by the priority deadline. Students must reapply for financial aid every academic year (July 1 - June 30), not every semester. (back to top)
DO I HAVE TO BE FULL-TIME TO APPLY FOR FINANCIAL AID?
No. However, to qualify for most aid programs you do have to enroll at least half-time (2 or more full credit courses). (back to top)
AM I ELIGIBLE FOR FINANCIAL AID IF I AM CURRENTLY IN DEFAULT ON A STUDENT LOAN?
You are not eligible for financial aid if you are currently in default. If you have paid off your student loan or have made satisfactory repayment arrangements, you will need to provide proof of this to the Financial Aid Office. If you have questions about how you can regain eligibility for financial aid, contact the Financial Aid Office. We may be able to help you make arrangements. (back to top)
HOW WILL I KNOW HOW MUCH MONEY I AM ELIGIBLE TO RECEIVE?
The Financial Aid Office will evaluate your request for financial aid and determine if you are eligible for the various programs offered at the college. You are automatically considered for all grants or scholarships administered at the college if you meet the application deadline and financial aid criteria for these funds. You will be sent an award letter indicating the type and amount of aid you are eligible to receive. (back to top)
HOW WILL I KNOW IF I AM ELIGIBLE FOR A STATE GRANT?
Your State Financial Aid Agency, such as PHEAA, will send you a separate award notice telling you the amount and conditions of the grant. The Financial Aid Office will review all state grant awards and will determine if you meet the conditions of the award. The Financial Aid Office will also be notified of this award. We take into account the amount of the State Grant when awarding need-based Wilson College scholarships. If you receive a State Grant that we did not know about at the time of your award letter, we may adjust your Wilson Grants. (back to top)
HOW DO I APPLY FOR A LOAN?
You will automatically be considered for loans if you indicated that you were interested in a student loan on the FAFSA. A Federal Direct Stafford Loan will be included in your financial aid package, however you must be registered for at least 2 full credit courses before a student loan is certified for you. New borrowers are required to complete a Master Promissory Note and online Entrance Counseling.
First-time borrowers must sign the Master Promissory Note (MPN) electronically with your FAFSA PIN. The funds for the Direct Student Loan come directly from the federal governemnt. If at any time you have questions on loan processing or your ability to receive loan funds, you are strongly encouraged to contact the Financial Aid Office. (back to top)
WHEN SHOULD I APPLY FOR A STUDENT LOAN?
You can apply for a student loan at any time before the end of the academic term or academic year for which you are enrolled at the college. Loan processing can take six to eight weeks, so be sure to plan ahead so that you can have your funds in time for the start of the semester. (back to top)
HOW DO I CHOOSE A BANK/LENDER?
If a student still has need for additional resources after receiving a Federal Direct Student Loan or PLUS Loan, there are several private lenders that provide loans to students. Most dependent students may need a co-signer for these private loans.
Once you and your family have considered federal loan options, you can use the Pennsylvania Private Loan Marketplace found online at http://pennsylvania.privateloanmarketplace.com/wilson to instantly and accurately compare rates and terms from multiple private loan lenders side-by-side. This will help you make an informed decision about the most appropriate loan for you.
Wilson College has not received any financial benefits from private lenders in exchange for providing loans to our students and families. (back to top)
WHAT IS "WORK-STUDY" AND HOW DO I APPLY?
Work-study is an employment program available to students who show eligibility and interest for part-time work at the college. A work-study award will be included in your financial aid package. Students must file the FAFSA before the April 30 priority deadline to be considered for a position. Work study funds are limited. (back to top)
HOW AND WHEN WILL I GET MY MONEY?
Any grant or scholarship you receive will be credited against the amount of tuition and fees that you are charged for the term. Any outstanding balance not covered by financial aid is your responsibility and non-payment may result in late fees. In some instances, grant and scholarship aid may exceed your tuition and fee charges. The Student Accounts Office will send any excess monies to you for your other educational-related expenses, such as textbooks, transportation and personal expenses.
Loan funds are sent directly to Wilson by your lender, either electronically or in some cases, by check. Wilson College will notify you when the loan funds are received. The loan proceeds will be credited to your semester student account. The Student Accounts Office will refund to you any excess loan funds to cover other educational expenses you may have. Loan funds will not appear on your Statement of Account until they are received by the College.
Work-study funds must be earned. Therefore, after you complete a monthly payroll cycle, you will be paid. Work-study checks are either mailed directly to the student's home or are credited to your account by the Business Office. (back to top)
WHAT DO I DO IF I WANT TO ADD OR DROP A CLASS?
Always check with the Campus Financial Aid Office before you add or drop any classes to see if your financial aid will be affected. (back to top)
WHAT DO I DO IF I WANT TO COMPLETELY WITHDRAW FROM CLASSES?
The Financial Aid Office is required by federal law to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60% of a payment period or term. The federal Title IV financial aid programs, such as Pell Grant and Stafford Loan, must be recalculated in these situations. If a student leaves the institution prior to completing 60% of a payment period or term, the financial aid office recalculates eligibility for Title IV funds. Recalculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula:
Percentage of payment period or term completed = the number of days completed up to the withdrawal date divided by the total days in the payment period or term. (Any break of five days or more is not counted as part of the days in the term.) This percentage is also the percentage of earned aid.
Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula:
Aid to be returned = (100% of the aid that could be disbursed minus the percentage of earned aid) multiplied by the total amount of aid that could have been disbursed during the payment period or term.
If a student earned less aid than was disbursed, the institution would be required to return a portion of the funds and the student would be required to return a portion of the funds. Keep in mind that when Title IV funds are returned, the student borrower may owe a debit balance to the institution.
If a student earned more aid than was disbursed to him/her, the institution would owe the student a post-withdrawal disbursement which must be paid within 120 days of the student's withdrawal. The institution must return the amount of Title IV funds for which it is responsible no later than 30 days after the date of the determination of the date of the student's withdrawal.
Refunds are allocated in the following order:
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- Unsubsidized Federal Stafford Loans
- Subsidized Federal Stafford Loans
- Federal Parent (PLUS) Loans
- Federal Pell Grant
- Federal Academic Competiveness Grant
- Federal SMART Grant
- Federal Supplemental Opportunity Grant
- Other assistance under this Title for which a Return of funds is required