Office of Financial Aid

Transcription

1 Office of Financial Aid General Information WNMU's Office of Financial Aid program provides assistance to students who, without such aid, would be unable to attend WNMU. Financial assistance consists of scholarships, grants, loans, and employment, which may be offered singly or in various combinations to qualified students. Student aid from WNMU and other sources is supplementary to the efforts of the student. The total amount of financial assistance offered a student may not exceed the amount he/she needs. The determination of needs is evaluated, using a federally determined formula based on the support which the student may expect from other sources (such as the student's family). The ability of a family to meet WNMU expenses will be determined by considering the family's relative financial strength in terms of income, assets, and debts, and of additional children to be educated. WNMU will clearly state an estimate of the total yearly expenses for the student, based upon full time enrollment. Students who are applying for financial aid should expect to borrow a reasonable part of this aid to meet the cost of their education, or be prepared to make payment arrangements for any portion not covered by financial aid resources. WNMU's Office of Financial Aid funds will be offered as a package arrangement to incoming and enrolled students, after submission of the Free Application for Federal Student Aid (FAFSA). The Office of Financial Aid is available to assist you in both your application for federal student aid, and in researching and accessing other sources of funding, through workshops, your Mustang Express and personal appointments either by phone or in person. The Office of Financial Aid will provide further information regarding the guidelines for each type of aid. All students desiring federal financial assistance are required to: 1. Apply for Office of Financial Aid. This can be accomplished with a single form - Free Application for Federal Student Aid (FAFSA) 2. Indicate on FAFSA the WNMU School Code The Office of Office of Financial Aid will receive an Institutional Student Information Record (ISIR) electronically. This information is used in the determination of type and amount of your financial aid award; 3. Undergraduate and graduate students must be admitted into a degree seeking program as a regular student to be eligible.

2 First time incoming transfer students must also have a transfer credit evaluation. Disbursal of Funds A student will receive an award notification that will describe the award package and instructions to log on to Mustang Express site and how to proceed to the Office of Financial Aid Section. Whereas, scholarship and grants are automatically accepted, loans must be accepted by the student. The student must follow the instructions for the appropriate award to participate in these programs. The student will receive credit for these awards on your student account. Returning Title IV Federal Aid Financial aid is earned not by enrolling, but by attending class. While aid is given at the beginning of the semester it is earned by participating in class, and it must be removed for periods of enrollment that students do not attend or participate in class. If students withdrawal or fail to participate in all of their semester class(es) the Office of Financial Aid is required to return a corresponding percentage of their aid back to the U.S. Department of Education. Example: Dorothy signed up for three classes, if she: a. withdraws from all three 20% of the way through her classes, the Office of Financial Aid must return 80% of the aid she was awarded back to the Department of Education out of school funds and the student would now owe these funds to the school. b. withdraws from two of her classes, but just quit going to the third, or if she just quit going to all three, when her professors report her F s or Administratively withdraw her, the Office of Financial Aid would have to return funds for the % of class based upon the date the Faculty member reported as the last date of attendance. c. fails all classes, or withdrew from some and failed the others, the Office of Financial Aid would have to assume that she had not completed attendance, and once again the corresponding portion of aid must be returned, creating an unpaid bill Note: the reason for the Withdrawal, has no impact on this requirement. Whether it was a medical necessity, a death in the immediate family or even the death of the student, it makes no difference, per federal regulations. The withdrawal process will be done electronically. It is important that the student assures proper withdrawal for all courses: Step 1: Student Initiates Withdrawal (in Mustang Express student tab Semester Withdrawal) Step 2: Financial Aid will review and if the student has The Office of Financial Aid will attempt to contact the student to remind them of the consequences.

3 Step 3: Records Office withdraws the student Step 4: If it is prior to the end of the add/drop period, the Business Office will adjust them student bill. If it is after the end of Add/Drop there will be no adjustment to the Bill. Withdrawing after the Add/Drop period will not result in a reduction or elimination of an unpaid bill, and will frequently increase the amount of money owed. The percentage of the period that the student remained enrolled is derived by dividing the number of days the student attended by the number of days in the period. Until a student has passed the 60% point of an enrollment period, only a portion of the student's aid has been earned. A student who remains enrolled beyond the 60% is considered to have earned all awarded aid for the enrollment period. The unearned portion of Federal Student Aid funds will be returned to the appropriate aid program(s). The funds are returned in the following order: 1. Federal Unsubsidized Stafford Loan 2. Federal Subsidized Stafford Loan 3. Federal Perkins Loan 4. Federal Graduate Plus Loan 5. Federal Plus Loan 6. Federal Pell Grant 7. Federal SEOG Grant 8. Federal Teach Grant Students withdrawing from classes are responsible for payment of any balance due after the required return of Federal Student Aid Funds to the Business Office. How to avoid having funds returned? Stay enrolled, participate and complete at least one of the class you are enrolled for.

4 Undergraduate Financial Aid Financial Aid Satisfactory Academic Progress (SAP) Policy - Undergraduate This policy is for financial aid eligibility only and does not represent the academic requirements of the university. The Office of Financial Aid is required by federal and state regulations to monitor the academic progress of all students. Financial aid applicants must comply with the Satisfactory Academic Progress (SAP) Policy as a condition of continued eligibility. Academic progress of all financial aid recipients is required to be tracked from the first date of enrollment, whether or not financial aid was received. SAP calculations include all coursework in your current academic career (example: graduate, undergraduate (this includes Associates degrees) The Office of Financial Aid evaluates student academic progress at the end of each fall, spring and summer semester. Students are evaluated on the basis of cumulative grade point average (G.P.A.), cumulative completion ratio (attempted vs. passed), and maximum time frame limitation. Financial Aid recipients are required to be in good standing and to maintain cumulative satisfactory academic progress toward their degree/certificate requirements for each semester in which they are enrolled. Failure to maintain satisfactory academic progress may result in the cancellation of financial aid awards. The Office of Financial Aid will consider students to be making satisfactory academic progress if they meet all of the following three (3) criteria: 1. Minimum Cumulative Grade Point Average, depending upon the number of credits you have attempted: Attempted Hours Cumulative G.P.A Hours 2.00 Students admitted only to an Associate s Degree must meet the 2.0 standard by the completion of their 33 rd attempted hour. Students admitted only to a Certificate must meet the 2.0 by the end of their first semester of enrollment. 2. Minimum Completion Ratio - All students must maintain a cumulative minimum completion ratio of 67% or better. Progress is calculated based on cumulative total of credits transferred

5 towards the degree, and attempted credits at WNMU as compared to credits earned at WNMU and transferred, regardless of whether the student received aid in those semesters. (Example: total credits earned divided by total credits attempted equals completion ratio.) 3. Maximum Timeframe Limitation Students must complete their educational program within a time frame no longer than 150% of the published length of the educational program, as measured by transfer and attempted credits. (For example, a student could receive federal financial aid for up to 180 credits in a 120 credit undergraduate program). Special Situations Remedial Coursework (developmental) classes are defined as university coursework below the 100 course level. Students will receive a letter grade for these courses; which is including in the Cumulative G.P.A., Cumulative Completion (67%) and Lifetime Eligibility. In addition, Financial aid eligibility for remedial courses is limited to a maximum of 30 attempted credit hours. Withdrawals, Incompletes and Course Repeats - Attempted credits include grades of F, I, W, IP, PR, MI or MW as well as repeated courses. Students may receive aid to retake a class they have previously passed (received any grade of D or better) only one time. For example, Alice took Grant Writing and received a D, retook it and received a C, while she may repeat the class an additional time she cannot receive aid to do so. Credits for repeated courses will count as additional credits attempted, whether they were paid for with financial aid or not. If a student withdraws or fails a class, they may continue to retake it with aid until it is passed (D or above), however because each attempt will be counted for the completion ratio, doing so can result in a suspension for failure to meet the overall completion ratio. Even a grade that cannot be used towards the degree counts as an attempt. Incomplete grades are not included in the GPA calculation until they are converted to actual grades. These courses count as attempted credits that are not yet earned, and thus may negatively affect completion ratio. These classes cannot be counted towards the next semesters eligibility for Scholarships or Grants until the class is completed. Therefore, if the Incomplete class is not completed and a grade posted by the end of the next semester some types of aid may no longer be available. Examples include the Teach Grant, and Lottery Scholarships. Certificate Coursework - Certificate programs are focused academic training programs designed to appeal to degree and non-degree students seeking a targeted education to enhance employment skills and employment prospects. Students may pursue a certificate as a part of their degree study or by itself. Students enrolled in a certificate as a specialization in their degree seeking program are evaluated for financial aid SAP policy according to the requirements of their degree program. For students actively pursuing a certificate independent of a degree program the above standards apply. NOTE: While certificate programs are generally financial aid approved, financial aid is restricted to classes required for the specific certificate only. Students admitted only to a

6 certificate program, who are found to be taking classes not within the requirements for their certificate will not receive aid for these classes. It is the student s responsibility to understand their certificate requirements and enroll accordingly. Revocation of aid given for classes not required for certificate work will usually leave students with unpaid bills. Students who fail to meet the Standards- Three steps Step 1. Warning: Students who fail to meet the minimum standard for the first time will be given one semester of warning. This warning period is meant to inform the student of existing academic problems and provide time for corrective action. Students given a warning are eligible to receive federal aid for their warning semester but will be reviewed at the end of the semester of warning. At the end of the warning period students who are meeting the minimum requirements will be considered to be back in good standing and eligible for student financial aid. Because it is not always possible to bring all elements up within one semester, at times students may do well in their warning semester and still not meet the overall standards, these students will still be set to Not Meets, although their performance in the semester of warning will be considered as part of the appeal. Step 2. Not Meets Students who fail to meet the minimum standards at the end of the semester of warning will be suspended from financial aid eligibility, and all financial aid awards will be cancelled. Students who feel that there are extenuating circumstances that have caused them to fail to meet the minimum standards can submit an appeal to have their eligibility reinstated, to afford them additional time to improve their performance. For an appeal to be granted it must be realistically possible for the student to regain their eligibility and complete their degree in a reasonable time frame. Step 3. Probation after appeal The appeal Process The appeal process is designed to ensure that students granted an appeal: Understand in what way they are failing to meet the minimum standards for Satisfactory Academic Performance., and the consequences to achieving their goal to graduate. Have explained and documented the extenuating circumstances that have led to their failure to meet standards. Understand the academic choices available to help them bring their performance up to the minimum standards. Develop a realistic plan, including a timeline and specific levels of performance goals necessary to regain satisfactory academic progress in a reasonable period of time while working toward the completion of their degree. Students who successfully appeal their financial aid suspension, including developing and agreeing to an acceptable academic plan to achieve reinstatement, will have their financial aid eligibility reinstated on a probationary basis. This probationary status will be reviewed at the end of each subsequent semester.

7 Students who meet the minimum cumulative standards at the end of any semester will have their probation ended and be fully reinstated. Students who, after a semester review of their probation, fall below the minimum cumulative standards, but have met the expectations outlined in their academic plan will be continued on a probationary level while following the plan to regain satisfactory academic performance status. Students who, after a semester review of their probation, fall below the minimum cumulative standards, and have also failed to meet the expectations outlined in their agreed upon academic plan will be suspended from financial aid eligibility. Students, who are suspended from Financial Aid eligibility and therefore not eligible to receive financial aid funds, whether before or after probation, can regain eligibility by bringing their cumulative GPA as well as cumulative completion to the minimum levels defined above without the benefit of financial aid funding. Note: Simply enrolling in a future semester, paying out of pocket, and doing well, will not result in a reinstatement of eligibility, unless all three SAP elements are brought up to the cumulative minimum. Note: Any student who can demonstrate a realistic ability to complete their degree within one semester, may substitute this for the comprehensive academic plan. Types of Undergraduate Aid Grants Federal Pell Grants The Federal Pell Grant Program is designed to provide students with financial assistance needed to attend postsecondary educational institutions. The Pell Grant is intended to be the basis for a financial-aid package and may be combined with other forms of aid to meet the cost of education. The amount of the grant is based upon the financial resources of the student and family. To be eligible for a Pell Grant a student must: 1. Establish financial need by completing and submitting a FAFSA application; 2. Be a U.S. citizen, or reside in the U.S. for other than a temporary purpose and intend to become a permanent resident, or a permanent resident of the Trust Territories of the Pacific Islands; 3. Be enrolled in an eligible undergraduate course of study and not previously have received a bachelor's degree from any institution. It is the responsibility of the applicant to complete the FAFSA and submit it to the processing center. The results will come in the form of an Institutional Student Information Report (ISIR) and will be received electronically by the Office of Office of Financial Aid, provided that our school code has been reported on the FAFSA (002664). Federal Pell Grant Eligibility is limited to the equivalent of 12 full time semesters (fall, spring, summer). Starting with the Federal Aid Year students may receive up to three full time semesters within the year but no more than one half of the yearly amount in any one semester.

8 Federal Supplemental Educational Opportunity Grants Federal Supplemental Educational Grants are available to undergraduate students with exceptional financial need as determined by the FAFSA. Generally, only students, whether full time or part time, with a zero Expected Family Contribution (EFC) on their FAFSA can be awarded the SEOG grant. Only students eligible for a Pell Grant can receive SEOG Funding for the SEOG grant is limited and not all students who meet the criteria will receive this grant Receiving it in one year does not guarantee subsequent awards New Mexico Student Incentive Grant / Leveraging Educational Assistance Partner Recipients of this grant must be residents of New Mexico who exhibit substantial financial need. Student must enroll in at least six credits, and this assistance is only available in Fall and Spring Semesters. Students must be working on their first undergraduate degree Funding for the New Mexico Student Incentive is limited and not all student who meet the criteria will receive this grant. Receiving it in one year does not guarantee subsequent awards. Teacher Education Assistance for College and Higher Education The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program provides grants of up to $2,000 per semester and up to $4,000 per year in "grant" aid to eligible undergraduate and graduate students. Eligible undergraduate students may not receive more than $16,000 and graduate students may receive no more than $8000 in total TEACH Grant. Students enrolled less than full-time will have their TEACH Grant prorated based on enrollment hours. The amount of TEACH Grant awarded when combined with other student aid may not exceed a student's cost of attendance (COA). This grant is only available to students who are admitted into a degree seeking program designed to instruct teachers on how teach in high need classroom environments. Short term programs, such as Alternative Licensure or Certificates are not eligible. Further information and to apply please submit your FAFSA, and complete any required verification, and then Apply at Studentloans.gov by completing both the: TEACH Grant Counseling TEACH Grant Agreement to Serve Please note: There is a service requirement for this grant, and if the service obligation is not completed, this grant turns into an unsubsidized loan and must be repaid.

9 Loans For a "First Year, First Time Borrower" student loans will not be paid to the student account until 30 days after the start of the semester, however the Business Office will be able to see them, and include them when finalizing your bill. Students who are awarded for one semester only, such as Summer, Fall only or Spring only will receive the first half of the accepted amount at the end of Add/Drop and the second half, half way through the semester, after midterm grades are received and reviewed. Federal Direct Subsidized Loan Allows undergraduate students with financial need to borrow funds on an annual basis. The annual amount is dependent upon cost of attendance, expected family contribution, grade level, and other resources received. Interest and principal payments are deferred as long as a student is enrolled at least half-time. Borrowers pay an origination fee that is deducted from each disbursement. Repayment of the loan plus interest begins six months after the student ceases to be enrolled at least half-time. Undergraduate student must be enrolled in at least 6 undergraduate credit hours. Federal Direct Unsubsidized Loan Allows undergraduate student to borrow funds on an annual basis. The annual amount is dependent upon cost of attendance, expected family contribution, grade level, receipt of the subsidized and other resources received. Interest accrues while the student is enrolled in school and the student has the option of paying the interest payments or letting the interest payments be added to the loan amount. While this loan is earning interest from the day it is paid to the student account, the loan payments are deferred as long as the student is enrolled at least half-time. Borrowers pay an origination fee that is deducted from each disbursement. Federal Direct Parent Loan Based on need and allows parents of dependent students to borrow funds on an annual basis. The annual amount is dependent upon cost of attendance and other resources received. Repayment of interest and principal payments are due once the loan has been fully disbursed (paid out). Borrowers pay an origination fee that is deducted from each disbursement. Borrowers must pass a credit check. Dependent students whose parents have been denied a PLUS loan due to an adverse credit history or who are not in a financial position to payback the Parent Plus Loan, may be eligible for an additional federal direct unsubsidized loan. The parent applying for the Plus Loan must be a US Citizen and must be the parent listed on the FAFSA. Please apply at studentloans.gov. Questions? Staffordloans@wnmu.edu to inquire. New Mexico Nursing/Occupational Therapy Loan Program The New Mexico Nursing/Occupational Therapy Loan Program is a loan-for service program. The purpose of the program is to increase the number of nurses/therapist in underserved areas in New Mexico. The student must declare

10 intention to practice in an under served New Mexico area. Applications are available at under Student Financial Aid on the left, Loan for Service Programs. Scholarships Foundation Scholarships The Western New Mexico University Foundation offers numerous scholarships, funded by the contributions of businesses, non-profit entities, and individuals, to students who meet the criteria established by our generous scholarship donors. Upon completion of the scholarship application which is due March 1 of each year, students will be considered for various private scholarships specifically aligned with their career and academic goals. Recipients may be new or returning students depending upon the scholarship awarded; reside in or out of state depending upon the scholarship criteria. Must be a full-time student, have a grade point average as listed in the scholarship criteria. Many scholarships require a grade point average 2.5 or higher. Recipients must continue to meet the donor criteria for the scholarship meet the award renewal requirement. Apply online at: All applications must be submitted by March 1 and must include all the necessary documents specified in the application check list. A FAFSA is not required to apply for Foundation Scholarships. Western New Mexico University Scholarships and Awards (note: you will be charged the full amount of out of state tuition, and show as an out of state student for billing purposes, and then an award will be applied for the reduction amount. Arizona Tuition Awards: Waivers for non-resident tuition are offered to Apache/Navajo, Cochise, Greenlee Graham, Pima Counties, and other Arizona counties as permitted who have a grade-point average of 2.0 and who maintain a grade-point average of 2.0 while at WNMU. Application is made through the WNMU Office of Admissions. Athletic Scholarships are available to qualified members of the WNMU athletic teams. For more information, contact the Athletics Office. Board of Regents Scholarships are tuition only scholarships awarded to undergraduates who have demonstrated exceptional academic achievement. The recipient must be a state resident and be enrolled full-time. These awards are made by Office of Financial Aid and do not require a application. Colorado Tuition awards: for non-resident tuition are offered to Colorado residents who have a grade-point average of 2.0 and who maintain a grade-point average of 2.5 while at WNMU. Application is made through the WNMU Office of Admissions. Competitive Out-of-State Tuition Awards: Qualified students who are classified as non-residents of New Mexico receive an annual private scholarship of at least $200, along with a waiver of non-resident tuition. Recipients must have an ACT score of at least 23 and a grade-point average of at least 3.0. Application is made through the WNMU Office of Admissions. Fry Foundation: A scholarship is offered to Cochise County residents and graduates of Cochise County high schools. Application is made through Cochise College. Graduate Scholarship: Purpose of the Graduate Fellowship program is to increase graduate enrollment of minority students in graduate school. Western has three Graduate Fellowships: - one (1) in the MBA program and two (2) in the Education program. Application is made through the Graduate Admission Office. Selection is made by the student's program department.

11 New Mexico Legislative Lottery Scholarships: Available to New Mexico resident students who have graduated from a New Mexico high school (or obtain a GED) and enroll in the next immediate semester. NM Lottery Success Scholarship recipients must enroll in 15 hours per semester and complete the 15 hours with a 2.5 cumulative grade point average. The amount of the Lottery Scholarship is sent annually by June 1 by the New Mexico Higher Education Department and can only be applied to tuition. A student will remain eligible to receive this scholarship by completing 15 NEW credit hours in each consecutive fall and spring terms while maintaining a cumulative G.P.A. of 2.5 or betterrepeated coursed do NOT count. Students are not required to complete a FAFSA to receive the scholarship but is strongly encouraged. Students with disabilities who are eligible must contact the Office of Financial Aid. Students may appeal the loss of the Lottery Scholarship through the Office of Financial Aid for unforeseen, exceptional circumstances that prevented the student from successfully meeting the criteria. N.M. Scholars Program: To recognize well qualified New Mexico high school graduates a renewable program is awarded in the amount of tuition, fees, books. May receive scholarship no more than 4 years. Requirements are N.M. high school graduate, total family income less than $30,000, upper 5% of graduating class and be attending an eligible university by the end of his or her 21st birthday. Application is made through the Office of Financial Aid. Funding is extremely limited. Chase Webb Art and Theater Scholarship: Established in honor of Chase Webb, Drama Professor Application is made through the Art and Theater Disciplines of the Expressive Arts Department of WNMU. Veteran's Program WNMU has been approved by the Veterans' Approval Office for the training of veterans under the Veterans' Readjustment Act, Public Law 90-77, and for certain training programs for the children of veterans. "WNMU has been approved for Veterans Benefits by the State Approving Agency." General admission to WNMU is sought through the Admissions Office. The Office of the Registrar handles the advisement of veterans entering these programs. Veterans are required to consult with this office before registration. After proper certification has been made and approved, persons receiving veteran benefits are required to make "satisfactory progress toward an educational goal" in order to continue receiving benefits. Veterans students are eligible to apply for State and Federal Funds, in addition to any veteran s benefits, by completing the Free Application for Federal Student Aid (FAFSA) at To facilitate the prompt and accurate reporting of the student's status and course load, the veteran must inform the Office of the Registrar of his or her enrollment intent prior to the beginning of each semester. Changes in enrollment status made after the last day to add courses must be reported immediately. Student veterans wishing to withdraw from any course must advise the Office of the Registrar. Students electing not to advise the office will assume full responsibility for changes of status, overpayment, etc. Veterans attending WNMU have full access to all student services and activities. It is the student's responsibility to remain in good standing with the VA and to respond to notification of changes in regulation. The VA toll-free telephone number is More information may be found at Work Options Federal Work-Study/State Work-Study Federal Work-Study is a federally sponsored program providing financial assistance to students through part-time work. Student who are residents or non-residents are eligible to receive federal works-study. New Mexico State Work-

12 Study is a state sponsored program providing financial assistance to undergraduates through part-time work. Workstudy positions are awarded to students according to need, and successfully finding a job through the student worker job board listed in Mustang Express under the student tab (left column). The application form for this program is the FAFSA. Funding for these programs are limited and there is no guarantee to any student that funding will be available. Students working in one year and wishing to continue into the next should complete the FAFSA as soon as it is available in October, and submit any paperwork required shortly after the first of the year. Hiring for the following year can start once spring grades are posted.