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All About Your Undergraduate Award
For The 2008-2009 Academic Year
Greetings from West Virginia University
We are pleased to offer you financial assistance for the 2008-2009 academic year. Review and respond to your award online within 30 days at http://mix.wvu.edu and clicking on the STAR tab. The following information will help explain your financial aid offer.
The aid package is based on your individual need and eligibility and may include various types of aid such as scholarships, grants, loans or employment . If you have any additional questions or feel you have special circumstances not addressed on the Free Application for Federal Student Aid (FAFSA) contact the appropriate Financial Aid Office listed below.
Sincerely,
Kaye Caplinger Widney
Director of Financial Aid and Scholarships
General Information
Estimated Cost of Attendance
This figure includes estimated costs for tuition, required fees, books, supplies, room and board, transportation, and reasonable personal expenses for the enrollment period. Your actual costs may differ from the estimated cost of attendance. The Estimated Cost of Attendance can be viewed online at http://mix.wvu.edu and clicking on the STAR tab.
Expected Family Contribution (EFC)
The EFC is determined by US Department of Education using the information reported on your Free Application for Federal Student Aid (FAFSA). It is based on family income, assets, the number of family members in the household, and the number of members attending college. It does not represent the amount you owe WVU. Refer to your Student Aid Report (SAR) for the EFC.
Calculated Resource Total
This includes other sources of aid not contained in your award offer on STAR. Examples are private scholarships, residential education employment, and Vocational Rehabilitation. You are responsible for notifying our office of any assistance you are receiving that is not awarded by the Financial Aid Office. You may e-mail the information to finaidchanges@mail.wvu.edu. Please indicate if the source is renewable or a one-time award. Additional resources may result in an adjustment to your aid package.
Calculated Financial Need
This figure is calculated by subtracting your EFC and calculated resource total from your estimated cost of attendance. This is the amount of need-based assistance for which you may qualify. Financial aid is awarded on the basis of financial need with the exception of the William D. Ford Federal Direct Unsubsidized Loan, Parent PLUS Loan and alternative loan programs.
Visiting/Transient Students
If you are taking part or all of your credit hours at another school as a visiting/transient student, additional documentation is required before financial aid can be released. Contact the WVU Financial Aid Office.
Payment of University Charges and Disbursement of Financial Aid
No paper bills are sent by the University unless requested. Students can view their account information online through the STAR system. Students will be notified of important due dates via their MIX email. For more information about your student account contact the Office of Student Accounts at (304) 293-4006 or by email at OSA@mail.wvu.edu. Any financial aid that is available for payment will first be applied to your WVU charges approximately 10 days prior to the beginning of each term. Any remaining funds will be mailed to you at the local mailing address (MA) on file with Admissions and Records typically during the first week of classes. Check your address at https://star.wvu.edu. If you are expecting any type of assistance outside of WVU it is your responsibility to check on the availability of such funds with the Office of Student Accounts or by contacting the donor of the funds.
Satisfactory Academic Progress (SAP)
To remain eligible for financial aid, students must maintain satisfactory academic progress toward a degree. Undergraduate and graduate students are required to complete at least 70% of all hours attempted with a minimum cumulative GPA as follows: Freshmen (0-28 credit hours) 1.6; Sophomores (29-58 credit hours) 1.9; all other undergraduates 2.0; all graduate students 2.25. Undergraduate students may receive aid for a maximum of 192 attempted credit hours if pursuing a baccalaureate degree (associate degrees or certificate programs have lower maximum hours). Review the complete policy online at www.finaid.wvu.edu.
WVU Refund Policy
The refund policy for students who withdraw from courses is outlined under “Refund of Fees” in the WVU Undergraduate Catalog, accessible online at http://coursecatalog.wvu.edu . Refunds range from 90% to 50%, depending on the date of withdrawal. Students who withdraw and who are scheduled to receive a refund of tuition and fees and/or University housing costs, may have all or part of their refund used to reimburse the financial aid programs from which funds were disbursed. No refunds are given after the 6th week of class.
Financial Aid Repayment Policy
When a student withdraws from school before the end of the enrollment period, federal regulations require that WVU determine whether any of the student’s financial aid must be repaid. A student “earns” financial aid based on the length of time actually enrolled. If more than 60% of the term has passed, all aid is considered “earned,” and no funds have to be repaid. If charges, such as tuition and housing, over the amount of “earned” aid are not paid, the student will be billed for the difference. Students owing a repayment for any federally sponsored aid are not eligible for aid during future enrollment periods unless and until satisfactory repayment arrangements have been made with either WVU Office of Student Accounts or US Department of Education. Students who receive all “Fs” in a semester are considered to have unofficially withdrawn from WVU and may owe financial aid back to the federal programs unless continued participation in classes can be documented. Additional information regarding payment options can be found at http://finaid.wvu.edu/FinAid/award%20notification/disbursement_of_aid.htm.
Taxes
Any gift aid (scholarships, fellowships, grants, etc.) received in excess of tuition, fees, books, and supplies are taxable. Questions should be directed to your accountant or to the Internal Revenue Service (www.irs.gov).
Types of Aid
Campus-Based Aid
Campus-based aid includes Federal Supplemental Educational Opportunity Grant, Federal Perkins Loan, and Federal Work Study. To be eligible for consideration, you must have completed the FAFSA by March 1. Funds are awarded primarily to undergraduate students. Limited federal funding restricts the number of awards offered annually by West Virginia University through these programs.
Federal Supplemental Educational Opportunity Grant (SEOG)
Supplemental Educational Opportunity Grants are awarded to undergraduate students with exceptional financial need (students with lowest EFCs) who have not yet earned a bachelor’s degree. Award amounts vary but will not exceed $4000. Priority is given to students who receive Federal Pell Grants.
Federal Work Study Recipients
The Federal Work Study (FWS) Program provides jobs for undergraduate students with financial need, allowing you to earn money to help pay educational expenses. Payment from your work study award will be made as you work rather than in a lump sum; therefore, these funds will not be available to pay expenses such as tuition and fees at the beginning of the semester. Student employees are paid every two weeks, and earn at least the federal minimum wage. The program encourages community service work and work related to your course of study whenever possible. Complete the Federal Work Study Skills Sheet available at http://finaid.wvu.edu/FinAid/forms.htm. Before you begin working you must receive an authorization form. This is available during Student Service Days, prior to the start up of the semesters.
Federal Perkins Loan
This loan may be offered to students with financial need (this program is not available at Potomac State College). Award amounts vary but will not exceed $4,000. The interest rate is 5%. A promissory note for the loan must be signed; further information will be provided prior to disbursement.
Federal Pell Grant
Pell Grant awards are based on financial need and the number of credit hours for which you are enrolled. The amount listed on the award letter is normally based on full-time enrollment. Awards will be adjusted for less than full time enrollment as determined at the end of the official add/drop period. Pell Grants are available only to undergraduates who have not earned a bachelor’s degree.
Academic Competitiveness Grants (ACG)
Academic Competitiveness Grant is awarded to fulltime 1 st and 2 nd year students who have completed a rigorous high school curriculum (as determined by the federal government). Recipients must be Pell Grant eligible, US Citizens and demonstrate financial need. The award amount for 1st year students is a maximum of $750/year. To remain eligible for ACG in the 2nd year, students must continue to meet the above criteria and have a cumulative grade point average (GPA) of at least 3.0. The award amount for the 2nd year is a maximum of $1300/year.
National Science and Mathematics to Retain Talent Grant (SMART)
SMART grant is awarded to fulltime third and fourth year students with a minimum GPA of 3.0 who choose to study physical, life, or computer sciences; math; technology; engineering; or a foreign language that is considered critical to national security as defined by the U.S. Department of Education. Recipients must be Pell Grant eligible, US Citizen and demonstrate financial need. The award amount is a maximum of $4,000/year.
State Grants
Awards are determined by individual state agencies. Check with your state agency or your guidance/financial aid counselor for additional information and deadline dates for your state. WV Higher Education Grant pays a portion of tuition and designated fees. The award amount can vary, depending on your major and enrollment status . Awards listed as “estimated” are based upon general program guidelines and are not guaranteed; formal notification of eligibility is sent by the appropriate state agency and is subject to change. State grants are available to undergraduates only.
PROMISE Scholarship
PROMISE Scholarships are awarded on the basis of merit to eligible WV residents. For eligibility information, go to www.promisescholarships.org.
WVU HERF Grant
This grant may be awarded to eligible full-time undergraduate WV residents with considerable financial need (this program is not available at Potomac State College).
Federal Direct Loans (Subsidized & Unsubsidized)
These loans are available to students enrolled at least half-time. Award amounts vary based upon the grade level you indicated on your FAFSA and may be adjusted if your response is inaccurate. In that event, a revised award notification will be directed to you. WVU participates in the Direct Loan Program; Federal Stafford Loans through banks, credit unions, and other lenders are unnecessary. An important distinction between a subsidized and an unsubsidized loan is that interest accrues on an unsubsidized loan. Interest will be paid during in-school periods or deferred and capitalized (added to the principal of the loan). The federal government pays the interest on subsidized loans during periods of at least half-time enrollment. The interest rate is fixed at 6.8%. A small fee (not to exceed 2.5%) is retained by the federal government; therefore the award amount and disbursed amount will differ. A signed Master Promissory Note is required before funds will be released. This can be done online at www.dlenote.ed.gov. All first-time loan borrowers are required to complete entrance counseling. You can complete this requirement online at www.dl.ed.gov.
Federal Direct PLUS Loans
This is a credit based loan available to parents of undergraduate dependent students who are enrolled at least half-time. A WVU Federal Direct Parent PLUS Loan application must be completed. Eligible parents may borrow up to the cost of attendance less any financial aid awards. Upon approval, the parent borrower will be notified of the process for completing a PLUS Master Promissory Note. Repayment begins within 60 days after the final loan disbursement. A small fee (not to exceed 4%) is retained by the federal government; therefore the awarded amount and disbursed amount will differ. The interest rate is fixed at 7.9%. The application is available at http://finaid.wvu.edu/FinAid/forms.htm.
Institutional Loans
These loans are private subsidized loans from WVU with a 5% interest rate and a six month grace period. A promissory note will be mailed to the local address you have on file with Admission & Records after you accept the loan. A co-signor is required. The Institutional Loan program isvery limited in funding.
WVU Scholars Program
If you received a scholarship through the WVU Scholars Program or Potomac State College, it should be included on your award letter. Your scholarship will be applied directly to your charges at WVU. In many cases, the actual funds to support your scholarship will be provided through an endowed program administered by the WVU Foundation. In these cases you will see the original scholarship replaced by one or more scholarships totaling to the same amount. Scholarships awarded through WVU require submission of the Scholarship Response Form. If you have questions concerning WVU offered scholarships contact the Undergraduate Scholars Program at 304-293-4126.
THE FOLLOWING AID PROGRAMS ARE AVAILABLE FOR HEALTH SCIENCES MAJORS
Nursing Loan NSL (Available to undergraduate Nursing)
NSL is a is a federal subsidized loan with a 5% interest rate and nine month grace period. Parent’s information is required regardless of dependency status. If you are a first time borrower, you must complete a NSL Master Promissory Note on-line. You will be notified when the note is ready to sign through your MIX account and by letter.
Scholarships for Disadvantaged Students SDS (Available to, PharmD & Nursing)
SDS provides scholarships to full-time, financially needy students from disadvantaged backgrounds, enrolled in health professions and nursing programs. Parent’s information is required regardless of dependency status. Funding is not available for all disciplines each year.
Loans for Disadvantaged Students LDS (Available to PharmD)
LDS is a federal subsidized loan with a 5% interest rate and twelve month grace period. Parent’s information is required regardless of dependency status. If you are a first time borrower, you must complete a LDS Master Promissory Note on-line. You will be notified when the note is ready to sign through your MIX account and by letter.
Health Professions Loan HPL (Available to PharmD)
HPL is a federal subsidized loan with an interest rate of 5% and a twelve month grace period. Parent’s information is required regardless of dependency status. If you are a first time borrower, you must complete a HPL Master Promissory Note on-line. You will be notified of when the note is ready to sign through your MIX account and by letter.
OFFICE LOCATIONS
Main Campus
2nd Floor Mountainlair
PO Box 6004
Morgantown , WV 26506-6004
Phone: 304-293-5242
FAX: 304-293-4890
E-mail: finaid@mail.wvu.edu
Health Sciences Center Campus
Room G-111N
PO Box 9810
Morgantown, WV 26506-9810
Phone: 304-293-3706
FAX: 304-293-686
E-mail: hscfinaid@mail.wvu.edu
Potomac State College Campus
Enrollment Services
1 Grand Central Park, Suite 2090
Keyser , WV 26726
Phone: 304-788-6820
1 FAX: 304-788-6939
E-mail: psc-FinAid@mail.wvu.edu
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