to borrow funds for a dependent, undergraduate student. The maximum amount permissible is the student’s estimated cost of attendance minus total financial aid. Repayment normally begins 60 days after disbursement.
Perkins Loan This federal loan
Educational Loans
Repayment begins nine months after you graduate, leave school or drop below half-time status. You are allowed up to 10 years to repay the loan. Funding is limited and the amount of the loan is determined by a student’s unmet financial need. If you are awarded this loan, you are required to complete a promissory note in the Business Office.
Various lenders allow credit-worthy students (6 credits) in an eligible program of study. The loan that
program provides students with a low-interest (5 percent) loan.
Private/Alternative Student Loans
you receive will be either subsidized, unsubsidized or a combination of both types of Stafford Loans. A subsidized loan is awarded on the basis of financial need, and, since the federal government “subsidizes” the loan, you are not charged any interest until you begin repayment six months after withdrawing, graduating or dropping below half-time status. An unsubsidized loan is not awarded on the basis
Nursing Loan
of financial need, and, although repayment of the
This federal program provides nursing students
responsible for the interest payments from the
with a low-interest (5 percent) loan. Repayment
time the loan is disbursed until it is paid in full.
begins nine months after you graduate, leave
The amount of a Stafford Loan depends on your
school, drop below half-time status or withdraw
grade level in school and on whether you are a
from the nursing program. Like the Perkins Loan,
dependent, independent, undergraduate or graduate
you are allowed up to 10 years for repayment.
student. First time borrowers must complete a
Funding is limited and the amount of the loan is
Master Promissory Note (MPN) and an Entrance
determined by a student’s unmet financial need. If
Loan Interview before the loan is disbursed. These
you are awarded this loan, you too are required to
may be completed online at www.aessuccess.org.
complete a promissory note.
Stafford Loan
principal is identical to a subsidized loan, you are
PLUS Loan The Parent Loan for Undergraduate Students
This federal program provides a fixed rate loan and
(PLUS) is a non-need based loan program that
is awarded to students enrolled at least half-time
allows a credit-worthy parent the opportunity
or students with cosigners the opportunity to borrow additional funds through non-federal and non-need based loan programs. Interest rates and
Financial Aid Information
repayment schedules vary, but the maximum amount permissible is the student’s estimated cost of attendance minus all other sources of financial aid. For information regarding these loans, please contact the Financial Aid Office at 724-852-3208 or go to www.waynesburg.edu/finaid.
University Payment Plan Waynesburg University offers families the opportunity to budget unpaid, direct educational expenses through the University’s Monthly Payment Plan (MPP). The MPP enables families to determine how much of their annual tuition, room, board and fees they may want to pay in equal monthly payments to best fit their individual needs. The only cost is a $40 annual application fee to cover administrative expenses. For further information, please contact the University Business Office at 724-852-3385.
51 West College Street Waynesburg, PA 15370 724-852-3208
www.waynesburg.edu
2009-2010
Merit Scholarships
eligible up to $750 per year. Second year students with a 3.0 or
All institutional, merit-based, academic
higher GPA are eligible up to $1,300 per year.
scholarships are determined by and through our
SMART Grant
Admissions Department. These include such scholarships as the A.B. Miller, the Presidential Honor
The Science and Mathematics Access to Retain
and the Waynesburg Honor as well as various
Talent (SMART) Grant is a federal grant for third
departmental and institutional awards. These awards are
and fourth year, Pell-eligible students with a 3.0
renewable annually as long as the student maintains
or higher GPA in certain academic majors. The
Satisfactory Academic Progress (SAP), meets the minimum
grant is worth up to $4,000 per year.
grade point average (GPA) and meets the requirements of the
TEACH Grant
major. For information regarding eligibility, please contact the Admissions Office at 1-800-225-7393.
The Teachers Education Assistance for
Waynesburg University Grant
Colleges and Higher Education (TEACH)
The University’s need-based grant program is awarded to full-time, traditional, undergraduate students who demonstrate unmet
four years. The grant is worth up to
packaging policy, availability of funding, the family’s financial circumstances and the student’s place of residence.
Federal Pell Grant This federal grant program is awarded to high-need, undergraduate, EFC as calculated by the results of the FAFSA. For the 2009-2010 year, the maximum Pell Grant is $5,350.
The FSEOG Grant is a campus-based, federally- funded aid program awarded to Pell Grant recipients with high
Academic Competitiveness Grant This federal grant is awarded to first and second year, Pell-eligible students who have graduated from a rigorous high school program. First year students are
cannot guarantee that we will meet
Did you know?
your demonstrated financial need.
Verification The United States Department of Education (USDE) and Waynesburg University reserve the right to select your FAFSA for a review process referred to as “verification.” If your application is Aid Office certain information: signed copies of your (and, if dependent, your parents’) previous year’s federal tax return with all schedules attached; documentation of untaxed income or benefits; and a completed federal Verification Worksheet. If your application is selected for verification, you will be notified by the Financial
Determining Your Aid Eligibility
to complete the process. If selected, the University is
Tracking Letter of the required documents necessary required to complete this process prior to certifying student loans
Your 2009-2010 financial aid award letter
or disbursing
is based on the results and analysis of the
aid funds to
information that you submitted on your
your student
Student Aid (FAFSA) and the corresponding calculation of your demonstrated financial need. Waynesburg University uses the federal methodology to calculate your eligibility for
Waynesburg University is one of the least expensive private schools in Pennsylvania.
selected, you are required to submit to the Financial
Aid Office either by an Award Letter or a Document
account. Failure to complete the verification
Award Revisions Your Award Letter is based on the most current information available to the Financial Aid Office. When relevant changes occur, you will be sent a revised Award Letter that may increase or decrease your aid package. These adjustments may result from such occurrences as: corrections made to your original FAFSA; change in housing status; an increase in federal or state funding; veteran benefits; or the reception of scholarship funds. The policy of the University is that we reserve the right to adjust any financial aid award in adherence to federal, state or institutional policies.
Federal Work Study
process
This program provides employment opportunities for
within 14 days of the initial request may result in the
students with unmet, demonstrated financial need.
cancellation of aid and the termination of enrollment.
It allows them to work at on-campus or off-campus
If corrections are necessary, we will make them
(community service) positions for up to 14 hours per
methodology) which considers student and parent
electronically on the student’s FAFSA once we have
week to defray educational expenses. Since the amount
income and assets, the size of the family and those
completed the verification process. The student will
you earn depends upon the actual hours worked,
then receive a revision from the federal processor. If an
a work study award cannot be deducted from your
overpayment is due, we will notify the student of the
student bill. Students participating in the program are
steps necessary to complete this process.
paid monthly and are required to complete W-4 and I-9
all federal, state and institutional aid programs.
financial need. The award amount is determined annually
note that, despite our best efforts, we
$4,000 per year.
2009-2010 Free Application for Federal
Federal Supplemental Educational Opportunity Grant
by federal funding levels.
students who agree to serve as full-time teachers in high-need schools for at least
financial need. The amount varies depending on the institutional
first-degree students. The amount is determined by the student’s
Grant is a federal grant for 3.25 GPA
loan, and work study programs. Please
Your Expected Family Contribution (EFC) was determined by the federal equation (congressional
enrolled in degree-seeking higher education programs. We then subtract your EFC from our estimated Cost of Attendance (COA) with the result being your demonstrated financial need at Waynesburg University. Our goal is to meet this financial need through a combination of scholarship, grant,
forms with the Human Resources Department prior to employment.