Financial Aid : Frequently Asked Questions
General
1. How do I apply for financial aid?
- You will need to start by filing the Free Application for Federal Student Aid (FAFSA). To complete the FAFSA online, go to www.fafsa.gov and complete the application
for the current academic year. Make sure you add West Virginia University at Parkersburg’s school code: 003828.
2. Do I have to re-apply for financial aid every year?
- YES! You will need to file a new FAFSA each year you plan to attend college. The next academic year’s FAFSA is available January 1. We recommend that the FAFSA should be filled out by March 1
for the PROMISE scholarship and April 15 for the WVHEG to ensure it is processed in a timely manner.
3. Do I have to be a full-time student to receive financial aid?
- Not necessarily; What aid a student receives is based on the number of hours taken per semester. For example, if you are enrolled in 6 credit hours (which is considered half-time) you will be eligible for half of your approved Pell Grant. You must have a minimum of six credit hours to receive loans.
4. Do I need to be admitted to WVU Parkersburg before I apply for financial aid?
- You do not need to be admitted into WVU Parkersburg to apply for financial aid. However, you will need to be fully admitted and enrolled to RECEIVE financial aid.
5. Can I get financial aid money for summer school?
- Summer school funding depends on what the student has received during the regular academic year, and this amount is determined on a case by case basis.
6. Can I receive financial aid for non-degree programs or courses?
- No. Only students who are working towards a degree will be considered for financial aid.
7. Can I receive financial aid to cover the cost of classes that I am auditing?
- NO, audited courses do not qualify students to receive financial
aid.
8. What is Satisfactory Academic Progress?
- As a student receiving financial aid at WVU Parkersburg, you are required to make Satisfactory Academic Progress. This means that you are working toward degree completion at an acceptable rate with an acceptable grade point average, and not withdrawing from too many courses.
- You are required to complete - with a passing grade - 75% of all classes you attempt, and you must maintain a grade point average of 2.00 or better.
- There are also limits on ATTEMPTED hours for degree programs. For an Associates Degree (2-year degree), this limit is 108 attempted. For a Bachelors Degree (4-year degree), the limit is 192 attempted hours.
Getting Started
1. How do I apply for financial aid?
- You will need to start by filing the Free Application for Federal Student Aid (FAFSA). To complete the FAFSA online, go to www.fafsa.gov and complete the application
for that academic year. Make sure you add West Virginia University at Parkersburg’s school code: 003828.
2. Do income tax returns need to be completed before submitting the
FAFSA?
- You can estimate your income on the FAFSA, by selecting “I will file taxes, but haven’t yet”. If you wait until your taxes are filed, your application will be more accurate and the information is more reliable. Be sure to file your FAFSA
by March 1 for the PROMISE scholarship and April 15 for the WVHEG to ensure it is processed in a timely manner.
In Progress
1. What is West Virginia University at Parkersburg’s Federal School Code?
2. What is my PIN?
- Your PIN is a Personal Identification Number, which a student and/or parent(s) use to electronically sign the FAFSA and a student can use to electronically sign a Master Promissory Note (MPN) if you borrow loans. You will need to remember your PIN every time you fill out a new FAFSA - which is every year - or make modifications to an existing FAFSA. Make sure your PIN is kept confidential and secure. DO NOT share your PIN with anyone.
3. What determines whether a student is dependent or independent?
- The Department of Education determines independent/dependent status. Normally, most students under the age of 24 are dependent unless they are veterans, or married. Living out on your own, financially independent of your parents, does not classify you as independent for financial aid purposes according to the Department of Education’s regulations.
4. If my parents are separated or divorced, whose income is reported on the
FAFSA?
- The parent with whom you currently live or with whom you have most recently lived, is the income which needs to be reported on the FAFSA.
5. Do I have to include my step-parent’s income and asset information on my
FAFSA?
- If the parent whose income you report on the FAFSA remarries, his/her spouse’s information MUST also be reported on your FAFSA application.
Completed
1. What happens after I complete the FAFSA?
- Once you have completed and electronically signed your FAFSA online, WVU at Parkersburg will receive your FAFSA within 5 business days as long as it was successfully submitted. Rarely, there is an issue with processing which can delay WVU at Parkersburg receiving your
FAFSA.
- You will be contacted through your WVUP email account with instructions for the next steps to accept your financial aid. Make sure your WVUP email account is set up and active as soon as you apply for admission and register for classes, and check it often!
2. What other forms besides the FAFSA do I have to submit?
- Some students are required to complete and submit additional
paperwork, as determined by the Department of Education, or if the
Financial Aid Office believes a mistake may have occurred. This
process is called verification; the student must fill out a
verification worksheet, and provide us with a copy of the tax return
transcripts used to complete the FAFSA, so the information can be confirmed or modified.
3. How is my Expected Family Contribution (EFC) determined?
- A student’s estimated EFC is determined by a formula used and created by the U.S. Department of Education when the student completes the FAFSA. This information is then given to the schools listed on his or her application, with an electronic confirmation sent to the email address listed on the FAFSA.
4. Should I keep a copy of my completed FAFSA?
- Not necessarily, because you are able to access it online at any time at the FAFSA website. But you do have the option to print a copy of it you so desire. Should you print a copy of your FAFSA, please keep it in a safe and secure place.
5. I made a mistake on my FAFSA. Can I correct it?
- Yes you can, but it is better if you notify the West Virginia University at Parkersburg Financial Aid Office that you have made a mistake so that we can correct it. This ensures that the application is correct, and that we have the most accurate version of your application.
6. If I transfer mid-year do I need to do another FAFSA?
- No, you just need to login to the FAFSA you already completed and add our school code, 003828, so we can process your FAFSA. We will need to know the award at your previous school, since we do NOT want to over-award you. Over-awarding happens when an over payment of financial aid monies is made to the student. If this situation happens, the student may owe a school a repayment of financial aid, or owe the Department of Education a repayment of the financial aid you received.
7. What if my financial circumstances change?
- If, DUE TO CIRCUMSTANCES BEYOND YOUR CONTROL, your financial situation significantly differs from when you completed the FAFSA, then you need to call or stop in to the Financial Aid Office so that we can discuss possibly adjusting your financial aid application to more accurately reflect your situation.
What if I receive financial aid, and then withdraw from all my classes?
- If you receive your financial aid refund check, and then later in the semester withdraw from all of your classes, we have to report that information to the Department of Education. They have a formula that determines how much of the financial aid you received that you will be required to repay.
Costs
1. What are the costs at WVUP?
2. Where do I pay my bill?
- Your bill is viewable through your OLSIS. If you receive financial aid, the money will be sent directly to WVUP, and the Business Office will process a payment for what you owe the school, then a refund will be mailed to you, if there is money remaining. If you have an account balance that needs to be paid, you can pay your bill in the Business Office which is open Monday – Friday, 8:00 AM – 4:00 PM.
Types of Financial Aid
Need Based
1. What are the Pell Grant and the Supplemental Education Opportunity Grant (SEOG)?
- These grants are need-based, meaning your estimate EFC, determines your eligibility of receipt. You must have a Pell Grant to be eligible for a SEOG.
2. What is the difference between the WV Higher Education Assistance for Part-time Students (HEAPS) and the West Virginia Higher Education Grant (WVHEG)?
- HEAPS is a need-based grant, for student enrolled part-time, which is 3-11 hours per semester.
- WVHEG is also need-based, and a student must maintain a certain GPA and 12 credit hours each semester for renewal.
- For both HEAPS and WVHEG, the FAFSA must be completed by April 15 for the following academic year.
Work Study
1. What is College Work Study?
- Federal College Work Study (FCWS) is a program in which funds are awarded to students based on their eligibility derived from the FAFSA.
2. How do I get a work study job?
- You will receive an email from our office when your financial aid
package for the year is ready. If you have been offered FCWS, then
you are eligible and may begin looking for a position on our
website.
Scholarships
1. What is the PROMISE Scholarship?
- This scholarship is only awarded to eligible graduating high school seniors. Certain GPA and hours complete must be met to continue this award.
- For the PROMISE scholarship, the FAFSA must be completed by
March 1 for the following academic year.
2. What scholarship programs does WVUP offer?
- There are various scholarships available to apply for through the WVU-P Foundation. To apply, please complete the online application available on the WVU-P Foundation’s website, before March 1.
- See morescholarships.org for more scholarships.
3. If I receive an off-campus scholarship do I have to let the college know?
- If you received a third-party scholarship, from a foundation or organization, you must let the school know. If you are mailed a check directly, please bring it to the Business Office. For further questions, stop by the Financial Aid Office.
Loans
1. Do I have to accept my Federal Direct Student Loans?
- No! This is a loan which you are responsible for repaying with interest; you are under no obligation to borrow money. If you do accept a loan, you do may choose to accept part or all of the loan amount offered.
2. What is the difference between a subsidized loan and an unsubsidized loan?
- An unsubsidized loan has interest accumulating on it while the student is in school and the student is responsible for all interest accrued. A subsidized loan does not have interest accumulating while the student is in school. Both loans start repayments when the student has not been enrolled for six months, due to graduation or not enrolling. With unsubsidized loans, students begin paying interest on the loan as soon as it is processed.
3. When do I have to repay my student loans?
- Repayment of Federal Direct Student Loans begins six months after your last attendance. If you decide to enroll at a college or university, you need to complete a deferment form. For third-party loans, please contact the lender.
4. Can I make loan payments even if I’m in school or have a deferment or forbearance?
- You need to contact the holder of the loan to find out information about starting repayment while you are still in school.
Go to
studentloans.gov for more information.
5. Are my parents responsible for my federal Direct Student loans?
- NO. The loans are the student’s responsibility only. They are in the student’s name, and it is the student’s responsibility to repay them. Parent Plus loans are an exception to this rule, but students rarely need these types of loans at WVUP.
Award
1. How do I view my award letter online?
- You can view your award letter and accept it through your OLSIS account. Once you login, select Financial Aid, than Award. Under Award Aid for Year, choose
the Academic Year from the drop down box. Click ‘Submit,’ then select the Terms and Conditions tab and READ down to the bottom of the page. When finished, click ‘Submit.’ Select Accept Award Offer tab. Under Status column, accept or decline the various offers.
Click ‘Submit.’ If you have any questions, please contact the Financial Aid Office.
2. Can I charge my books at the college bookstore?
- Yes, you can charge your books at the college bookstore for fall
and spring semesters, but only for a limited amount of time.
Students may do so from the Monday before classes begin till the
Friday of the fourth week. You can ONLY charge materials necessary for school.
3. Can I get more than one type of financial aid at a time?
- Yes, many students receive a combination of grants, scholarships and loans.
4. Can I get a letter for an off-campus business or organization (landlord, DHHR)?
- If you need a letter of verification of financial aid awards to be given to an off-campus business or organization, the letters can be given on an individual basis, as time permits. You can also print a copy of your award notice from your OLSIS account. Please contact the Financial Aid Office for further information.
5. Can I receive financial aid at more than one college at the same time?
- You CANNOT receive financial aid awards from more than one college. If you are a transient student, please contact the Financial Aid Office.
6. If I am transferring from another school can I get the same financial aid?
- You may not necessarily get the exact same financial aid award at one school as you will at WVU at Parkersburg since the cost to attend one school can vary from attending another.
7. How do I accept my Financial Aid?
Access your OLSIS Account.
- Select "Financial Aid"
- Select "Award for Aid Year"
- Click "Submit"
- Select the "Terms and Conditions" tab. Read down to the
bottom of the page and click submit if you agree.
- Select the "Accept Award Offer" tab. Under the
status column accept or decline all or some of the various offers.
- Click "Submit"
First time borrows at the college must also complete a master
promissory note and entrance counseling at www.studentloans.gov
|
|
