Financial Aid Booklet 2024

LIMITLESS. SUPPORT.

Your potential is unlimited. That’s why investing in a Widener education is a critical step toward accomplishing your biggest, boldest goals. As your investment partner, we’re here to support you throughout your journey— that includes navigating financial aid.

This booklet details the financial aid process. From terms you’ll encounter to a timeline of your financial aid journey—complete with action items, tools, and resources—you’ll find everything you need to bring your education within reach.

QUESTIONS? We’re happy to help! Widener Student Financial Services provides a one-stop, centralized location on campus—inside Lipka Hall—for you and your family to ask questions about financial aid, payment options, registration, and more.

610-499-4161 | finaidmc@widener.edu

FINANCIAL AID BASICS

Learning about financial aid can feel like tackling an unfamiliar language! Before your journey begins, let’s demystify the vocabulary and processes you’ll encounter along the way.

TERMS TO KNOW

FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA)

This online application, which you’ll submit annually as an undergraduate, determines your eligibility for grants, loans, and other forms of financial aid. Be sure to use Widener’s school code: 003313 and complete at studentaid.gov.

SCHOLARSHIP

A form of financial assistance that does not require repayment or employment.

■ Institutional scholarships: Widener offers several scholarship opportunities based on academic performance in high school or at a previous college or university. These forms of merit aid for incoming first-year students are awarded for a total of eight full-time semesters. Transfer students will have a different length of time during which they will be eligible for this funding. You may also be awarded additional scholarships—view the full list at

■ Private scholarships: You can also seek financial assistance from sources outside the university. Find additional scholarship opportunities via websites for the College Board, Fastweb, the U.S. Department of Education, FinAid, and Scholarships America.

GRANT

Grants—which you do not have to repay—are awarded to full-time, enrolled undergraduate students (12 or more credits per semester) who are pursuing a first bachelor’s degree and demonstrate financial need. Widener offers grants for incoming first-year students that can be awarded for a maximum of eight full-time semesters, as long as financial need continues to be demonstrated. Transfer students will have a different length of time during which they may be eligible for this funding.

■ Federal Pell Grant: Awarded to enrolled undergraduate students who are pursuing their first bachelor’s degree. Federal Pell Grant eligibility is determined by the Student Aid Index (SAI) that is calculated when you submit the FAFSA. You may receive Federal Pell Grant funding for

12 full-time semesters (or fractional equivalents for less than full-time enrollment) while pursuing a first bachelor’s degree.

■ Federal SEOG Grant: A supplemental grant award with priority given to Federal Pell Grant recipients.

■ Pennsylvania State Grant: Awarded to undergraduate Pennsylvania residents who are pursuing a first bachelor’s degree. To maintain eligibility, you must make academic progress by completing at least 24 new credits for full-time and at least 12 new credits for half-time enrollment each year. The PHEAA Grant Division determines award amounts. Learn more at pheaa.org

■ Widener Grant-In-Aid: Need-based aid provided directly by Widener on the basis of your financial circumstances.

■ Campus Experience Grant: First-year and transfer students who live on campus are eligible for $2,000 annually, renewable for up to six additional semesters as long as you reside in our residence halls.

LOAN

Loans are a helpful resource that countless families utilize to bring the cost of education within reach. Consider loans—which must be paid back with interest—after exploring other gift aid, such as scholarships and grants.

■ Federal Direct Subsidized Loan: Awarded to students who have filed the FAFSA and qualify based on need. Federal subsidized loans range from $3,500 to $5,500 annually, depending on grade level. Interest is paid by the Department of Education while you are enrolled at least half-time.

■ Federal Direct Unsubsidized Loan: Awarded to students who have filed the FAFSA. Amounts range from $2,000 to widener.edu/ugscholarships

LOAN REPAYMENT. REIMAGINED.

There’s a new government program—called the SAVE Plan that’s changing the game for loan repayment. Learn more about what this means for you on p. 9.

$9,500 for first-year students and vary annually based on grade level and Federal Subsidized Loan amounts. Interest accrues as soon as the loan is disbursed.

■ Federal Direct PLUS Loan: Can be borrowed by a parent of a dependent student. The borrowing party must qualify based on a credit check and can borrow up to the remaining cost of attendance (COA) after all other aid sources have been considered. Dependent students whose parent applies for and is denied a Federal PLUS loan will have eligibility for additional Federal Unsubsidized Loan funds.

■ Private Education Loans: Private education loan funding may be an option if you need additional assistance after all other sources have been used. Non-need-based private education loan programs are offered by a variety of lenders and organizations, including banks and credit unions. Loan details and requirements vary depending on lender.

FINANCIAL AID STATUS

The financial aid noted as “pending” on your bill is estimated and provided for planning purposes. Financial

aid awards are finalized and credited to your university account after eligibility is confirmed, as early as the start of each semester.

FULL-TIME REGISTRATION

You must be registered full-time in one of our traditional undergraduate programs to be eligible for Widener funding and for the full amount of certain federal and state grant funds. For undergraduate students, a minimum of 12 credit hours per semester constitutes full-time enrollment. If you’re registered less than full time, financial aid will be adjusted to part-time levels.

WIDENER FINANCIAL AID HANDBOOK

Access the Widener Financial Aid Handbook at under Financial Aid Links and Forms.

sites.widener.edu/financialaidmc

RECALCULATION POLICY

Student Financial Services may be required to make recalculation adjustments to your charges and financial aid when you add, drop, or withdraw from a course, change residence hall status, or cease enrollment at the university.

HOW-TO GUIDE

ACCESS YOUR ONLINE STUDENT ACCOUNT

After you register for classes, you can accomplish multiple tasks by logging on to your Widener account at myWidener (my.widener.edu) and searching for “my online student account.”

From here, you can:

■ View your student tuition account, e-bill statements, and account charges.

■ Pay your tuition and fees.

■ Grant access to others to be authorized users to view and make payments on your student account.

If you have a balance due, you’ll be able to view the balance through your e-bill. Each time we upload an e-bill, you’ll receive an email notification to your Widener email address. Fall semester bills are produced in July and due when the semester begins in August of each year. Spring semester bills are produced in December and due in January.

SET UP A SEMESTER PAYMENT PLAN AND PAY YOUR BILL

Offered in fall, spring, and summer, a payment plan allows you to pay an installment of your tuition each month of the semester. Making smaller payments more frequently can help you stick to your budget and avoid interest. There’s a $50 fee to enroll.

Pay your bill online with a credit card (Visa, MasterCard, American Express, or Discover) or via direct debit from a checking or savings account. Get started:

Students: Log on to your Widener account at myWidener and search for “my online student account.”

my.widener.edu widener.edu/ebill

Authorized users visit:

YOUR DREAM. OUR MISSION.

Widener was my first choice for many reasons, and affordability was an important factor in my college decision. Financial aid made it possible for me to thrive as a student, pursue my interests, and get involved in the campus community.

— Krysta Lynn Bernold ‘24

WE’VE GOT YOUR BACK.

11-to-1 undergraduate student-faculty ratio

Your Own Personal Student Success Team consisting of faculty and peer mentors, a student affairs liaison, and a librarian

$50 million+ in scholarships and grants

Academic Support

including advising, coaching, tutoring, and math & writing centers at no additional cost

SO YOU CAN TAKE THE LEAP.

66% of Widener students complete an internship, a practicum, or similar hands-on experience— 14% higher than the national average.

100% of Widener students who complete a 12-month co-op graduate in four years. Most peer institutions require a fifth year of study.

$67,600 median early-career salary for Widener alumni*

$113,800 median mid-career salary for Widener alumni*

96% OF 2023 WIDENER GRADS achieved career goals within six months of graduation.

YOUR FINANCIAL AID JOURNEY

A timeline of when to complete important steps—and when to seize opportunities that maximize your income and financial aid— throughout your Widener experience.

BEFORE YOUR FIRST YEAR

GET ON TRACK

Complete your FAFSA now, if you haven’t done so.

Contact Student Financial Services in early summer to review your anticipated aid and charges based on your enrollment and where you plan to live during the academic year. Use your offer letter to estimate direct costs minus aid. This is a great time to discuss direct and indirect costs and aid, options for payment, and any loans.

FINALIZE GIFT AID

Explore scholarship opportunities through Widener and elsewhere.

Stay on top of your grant eligibility. While you are automatically considered for state and federal grants by submitting the FAFSA, you may be prompted to provide additional information before decisions are finalized.

APPLY FOR & FINALIZE LOANS

Borrowing a Federal Direct Subsidized and/or Unsubsidized Loan? Complete the Loan Agreement/ Master Promissory Note (MPN) at studentaid.gov

Financing a portion of your education through private educational loans? Gain approval for your loan by submitting an application to the lender of your choice.

Parent or guardian financing a portion of your education? If you are a dependent undergraduate student and your parent or guardian will be financing your education with a loan, make sure they have completed the application for the loan of their choice. They also need to complete all necessary steps in the loan process. Contact Student Financial Services with questions.

Complete entrance counseling. Learn the terms and conditions of borrowing a federal loan during this session at studentaid.gov This step is needed before the loan is disbursed.

STAY UP TO DATE ON CHECKLIST ITEMS IN YOUR ADMISSIONS PORTAL

As fall approaches, your admissions portal (widener.edu/portal) will be the place to complete critical onboarding tasks, including:

■ Family Education Rights and Privacy Act (FERPA) waiver release

■ Tax form 1098-T electronic delivery consent

■ Emergency contact information

■ Direct deposit setup (for refunds and work-study checks, if applicable)

Consider setting up a Widener payment plan. Spreading tuition payments over each month of the semester means you’ll make smaller payments and avoid interest.

WHILE AT WIDENER

Contact the Office of Financial Aid to determine your eligibility for Federal Work-Study. Choose from numerous available positions, where you’ll gain skills and experience relevant to your future career—and earn income while doing it. You’ll work up to 20 hours a week during any week in which classes are held and receive biweekly pay at the rate of at least the current minimum wage.

Not eligible for work-study? Seek direct university employment instead. You’ll experience the same careershaping benefits and still get paid at least the rate of minimum wage.

Earn up to one year of income and on-the-job experience through our co-op program. Available to business, engineering, and computer science students, the program allows you to work full-time at an employer relevant to your major—and still graduate in four years.

AFTER GRADUATION

START YOUR FUTURE OFF RIGHT

Complete exit counseling. Widener provides personalized exit counseling, where you’ll meet with

Start your career strong with Development. Alumni have access to career guidance including personal professional skills workshops,

Grow your Widener alumni network. The Office of Alumni Engagement offers opportunities to connect with Widener grads who share similar interests or reside in your region—opening doors to mentorship, professional development, or even job opportunities.

EXPLORE FEDERAL STUDENT LOAN REPAYMENT PLANS

Public Service Loan Forgiveness Program: This option is beneficial if you plan to pursue a career in public service. Eligible borrowers of Direct Loans who work at places such as government and nonprofit organizations—and make 120 qualifying monthly payments—will have their remaining loan balance forgiven.

Loan deferment for graduate study: If you’re enrolled at least half-time in graduate school or a graduate fellowship, you may be able to defer loan repayment during that period. Interest may still accrue.

INTRODUCING THE SAVE PLAN

THE MOST GENEROUS LOAN REPAYMENT OPTION YET.

We recognize that you may (understandably!) feel apprehensive about borrowing loans to finance your education. The new Saving on a Valuable Education (SAVE) Plan helps to alleviate families’ most common concerns, from payments to interest. Here’s how it works and the ways you can benefit:

■ Students with Direct Loans and Direct Consolidated Loans are eligible.

■ Interest doesn’t capitalize, so your loan balance will never grow beyond the original balance at which you entered the SAVE Plan

■ Monthly payments are determined based on a small percentage—5% starting summer 2024—of your discretionary income (the money earned above a certain threshold set by the government, adjusted annually for inflation). As a result, payments are lower than you might think. In fact, borrowers at certain income levels are eligible for $0 payments.

■ Your income will be imported from the IRS and automatically re-certified each year, eliminating the need to manually report it.

■ You may qualify for balance forgiveness beginning at 120 months of on-time payments (including $0 payments).