You annually must complete a Free Application for Federal Student Aid (FAFSA). Go to www.fafsa.ed.gov to complete the FAFSA. Sign your FAFSA electronically using a Federal Student Aid ID. Request an FSA-ID at the top of the FAFSA webpage. A parent must also obtain an FSA-ID in order to "sign" the FAFSA. The FAFSA is used to apply for all types of aid from federal, state, college and private sources. The FAFSA is FREE
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.
Students and parents are able to import the actual income and tax information directly into the FAFSA after taxes have been filed. This is an easy process. The income and tax information is imported using the IRS Data Retrival Tool directly into the FAFSA. Students (or parents) who do not use the IRS Data Retrieval Tool may need to provide the IRS Tax Trasncript from the IRS (not tax return) to the Financial Aid Office. Sometimes the federal processor selects a FAFSA record for additional verification. Written documentation (tax transcripts, 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.
You should apply for financial aid every year as soon as possible after October 1 for the following fall and spring semesters. 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 should be submitted by the priority deadline. Students must reapply for financial aid every academic year (July 1 - June 30), not every semester.
Starting academic year 2017-18, the FAFSA will be available Ocober 1 and will use 2015 calendar year income and tax information.
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.
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.
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.
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 6 credits 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 FSA-ID. 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.
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 a week or two, so be sure to plan ahead so that you can have your funds in time for the start of the semester or the payment deadline.
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 apply for a private educational loan through a bank, credit union or other lender. These funds can also be used to pass past due balances for prior terms.
Wilson College has not received any financial benefits from private lenders in exchange for providing loans to our students and families. Contact the Financial Aid Office to see if there are any other options available.
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 and answer "Yes" on the FAFSA that they want to work on campus. Work study funds are limited.
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 at the end of a month. Work-study checks are either mailed directly to the student's post office box or electronically deposited in a bank account. Work-study funds are used to help students with other miscellaneous educational expenses.
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: