All About Your Graduate Level Aid Award
For The 2009-2010 Academic Year

We are pleased to offer you financial assistance for the 2009-2010 academic year. Review your award online within 30 days by accessing STAR through your MIX account. The following information will help explain your financial aid offer.

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 (COA)
Figure that includes estimated cost for tuition, required fees, books, supplies, room and board, transportation and reasonable personal expenses. For the cost of attendance used to calculate your aid offer, refer to the STAR system.

EXPECTED FAMILY CONTRIBUTION (EFC)
The EFC is determined by the US Department of Education using the information reported on the FAFSA. It is based on income, assets and the number of family members in the household and the number attending college. This does not represent the amount you owe to WVU.

CALCULATED RESOURCE TOTAL
This figure on the STAR system is a total of other sources of assistance of which we have knowledge that are not awarded through our office such as private scholarships, tuition waivers, etc. If you receive additional outside scholarships/money you must notify our office of this assistance. You can email this information to finaidchanges@mail.wvu.edu. The email should include the name of the funding source, amount, when it is paid (e.g. both fall and spring) and if it is renewable. For purposes of processing aid, a tuition waiver has been estimated for students (excluding health sciences and law majors). If you will not receive a tuition waiver and need additional assistance, notify the Financial Aid Office by email at finaidchanges@mail.wvu.edu. Health Sciences and Law students who will receive a graduate tuition waiver should also notify the Financial Aid Office. 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.

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 aid can be released. Contact the appropriate 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
To remain eligible for financial aid, students must maintain satisfactory academic progress. Review the complete policy on-line at http://www.finaid.wvu.edu and clicking on “Additional Requirements” and then select “Satisfactory Academic Progress Standards.” These requirements do not apply to students in the MD, DDS, JD or PharmD programs. Contact the appropriate Financial Aid Office for satisfactory academic progress requirements for these programs.

WVU REFUND POLICY
The refund policy for students who withdraw is outlined under “Refund of Fees” in the WVU Undergraduate Catalog, accessible on-line 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.

FINANCIAL AID REPAYMENT POLICY
When a student withdraws from WVU 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 the “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 the 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.

TAXES
Any gift aid (scholarships, fellowships, etc) received in excess of tuition, fees, books and supplies is taxable. Questions should be directed to your accountant or to the Internal Revenue Service (www.irs.gov).

TYPES OF AID

FEDERAL DIRECT LOANS (SUBSIDIZED & UNSUBSIDIZED)
Subsidized and Unsubsidized Federal Direct Loans are available to students enrolled at least half-time. A subsidized loan requires that the borrower demonstrate financial need as determined by taking the Cost of Attendance (COA) and subtracting the Expected Family Contribution (EFC) and any Calculated Resources (refer to definitions above). The government pays the interest while the student is enrolled in school at least half-time on a subsidized loan. An unsubsidized loan is not based on financial need and can be used to replace the EFC and/or be used for the any remaining COA less any other aid. The borrower is responsible for any interest that accrues and the borrower must either pay the accrued interest or it will be capitalized (added to the principal of the loan).

The academic year limit (9 month) for the Direct Loan (combined subsidized and unsubsidized) varies by major:

MD and DDS Degrees – $40,500

Doctor of Pharmacy (last 2 yrs), Public Health & Health Administration Degrees (last 2 years) – $33,000

All other majors – $20,500

The maximum annual subsidized loan $8500. The subsidized loan amount is determined by your Calculated Financial Need. Keep in mind that the total aid awarded (from all sources) cannot exceed the Estimated Cost of Attendance. For current interest rate information for subsidized & unsubsidized Direct Loans, refer to our website at http://www.finaid.wvu.edu and click on “Types of Aid” and then select “Loans”. A signed Direct Loan Master Promissory Note is required before funds can be released. The promissory note is completed on-line using your Federal Student Aid PIN (commonly referred to as the FAFSA PIN) at http://dlenote.ed.gov. Click on “Complete New MPN for Student Loans and then select “Subsidized/Unsubsidized”. If you are a first-time loan borrower, you are also required to complete entrance counseling online at www.dl.ed.gov prior to disbursement of loan funds.

FEDERAL DIRECT GRADUATE PLUS LOANS
The PLUS loan is credit based and is available to students who are enrolled at least half-time. There is no annual limit. Eligibility is determined by subtracting other aid awarded from the Cost of Attendance. The loan is unsubsidized; therefore interest will begin to accrue on it the day the funds are released. The current interest rate is fixed at 7.9%. A small fee (not to exceed 4%) is retained by the federal government; therefore the awarded amount and the disbursed amount will differ. Repayment begins 60 days after the final disbursement (for an academic year loan repayment would begin around March). You can file an in-school deferment each semester and postpone payment until you cease to be enrolled at least half-time. If your award offer includes a pending Federal Direct Graduate PLUS Loan you cannot accept, decline or reduce the amount of the Graduate PLUS online. To be considered for the loan, you must complete a Federal Direct Graduate/Professional Loan Application. Download the application at http://www.finaid.wvu.edu. If you are approved and have never borrowed a Graduate PLUS Loan, a signed Graduate PLUS Loan Master Promissory Note is required before funds can be released. The promissory note is completed on-line using your Federal Student Aid PIN (commonly referred to as the FAFSA PIN) at http://dlenote.ed.gov. Click on “Complete New MPN for Student Loans and then select “Graduate PLUS”. To decline the loan, email finaidchanges@mail.wvu.edu.

INSTITUTIONAL LOANS
These loans are private subsidized loans from WVU with a 5% interest rate and a 6 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 FOLLOWING AID PROGRAMS ARE AVAILABLE FOR HEALTH SCIENCES MAJORS

SCHOLARSHIPS FOR DISADVANTAGED STUDENTS SDS (Available to MD, DDS, 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 not available for all disciplines each year.

LOANS FOR DISADVANTAGED STUDENTS LDS (Available to MD, DDS and PharmD)

LDS is a federal subsidized loan with a 5% interest rate and 12 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 DDS and PharmD )

HPL is a federal subsidized loan with an interest rate of 5% and a 12 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 when the note is ready to sign through your MIX account and by letter.

WV MEDICAL STUDENT LOAN WVMSL (Available to MD)

WVMSL is a state funded loan program with an interest rate which is the same as the current Stafford rate and a 12 month grace period. The maximum annual award is $10000 and the loan does offer possible loan forgiveness in exchange for practice in a designated underserved area of WV or for practice in a designated medical specialty. WVMSL is deferrable up to 5 years of medical residency. A signed statement is required indicating the borrower’s plan to practice medicine in WV. If you are a first time borrower, you must complete a WVMSL Master Promissory Note on-line. You will be notified when the note is ready to sign through your MIX account and by letter.

PRIMARY CARE LOAN PCL (Available to MD)

PCL is a federal subsidized loan with a 5% interest rate and a 12 month grace period. A borrower must agree to do a primary care residency and practice in primary care until the loan is paid in full. The loan can be deferred during a primary care medical residency. Parent’s information is required regardless of dependency status as well as a signed statement indicating the borrower agrees to practice primary care. If the borrower does not fulfill the agreement to practice in primary care until the loan is paid in full, a penalty of 18% from the date of non-compliance will be added to the loan. If you are a first time borrower, you must complete a PCL Master Promissory Note on-line. You will be notified when the note is ready to sign through your MIX account and by letter.

GRADUATE NURSING LOAN GNL (Available to Graduate Nursing)

GNL is a federal subsidized loan with an interest rate of 5% and a 9 month grace period. Parent’s information is required regardless of dependency status. If you are a first time borrower, you must complete a GNL Master Promissory Note on-line. You will be notified when the note is ready to sign through your MIX account and by letter.