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Frequently Asked Questions - Student Financial Planning
NEED EASY ACCESS TO YOUR FINANCIAL AID, BUSINESS OFFICE AND ADMISSIONS INFORMATION?
All applicants have access to their information at MyKWU. Students can view their admissions file and status, as well as financial assistance documents needed or received. Financial assistance awards can be accepted online, promissory notes completed, forms printed, etc. Students have access to grades, transcripts, GPA projections, degree audits, course information, schedules and searches, residence hall room assignments and Student Account Information, and students can make payments on their account, etc.
Applicants for admission receive their login and password by e-mail. If you are unsure of your login and password, contact the K-Dub Hub at 785-833-4319, or stop by the office in Pioneer Hall, Room 285.
HOW IS FINANCIAL ASSISTANCE AWARDED?
Financial assistance eligibility, except Kansas Wesleyan University scholarships and some designated grants, is based upon financial need. Financial need is the cost of the college less the expected family contribution (EFC). The EFC is calculated using a national formula, federal methodology, which is performed on the financial data entered in the free application for federal student aid (the FAFSA). A student’s grade point average and ACT or SAT scores may be used in determining the types and amounts of Kansas Wesleyan University scholarships and grants for which a student qualifies. Financial assistance recipients must reapply for financial assistance each year and must maintain satisfactory academic progress. Financial assistance is awarded for the entire year. However, students that do not matriculate for the initial semester will receive a revised award notice based upon a new determination of eligibility. These students may also be required to reapply for admission.
Financial assistance is awarded on a first-come, first-served basis as funds are available.
HOW WILL I RECEIVE MY AID OFFER NOTICE?
In order to receive a financial assistance offer, a student must be accepted for admission and complete the FAFSA. Students selected for FAFSA verification will also be required to submit verification documents. The financial aid offer will be posted on MyKWU and may be accepted or declined through the financial assistance portion of that portal.
A complete financial assistance file is necessary prior to the start of each semester. That file consists of:
- The FAFSA results (if applicable)
- FAFSA verification documents (if required)
- All awards accepted/declined online
- Complete promissory notes for direct student loans (if required)
- Entrance counseling interview if applying for direct student loan for first time
- Annual Student Loan Acknowledgement for prior direct loan borrowers
- Payment Selection Form (required for students with remaining cost after financial assistance)
- Financial clearance is attained when full payment is made, a bank draft payment plan is approved, or financial assistance can be credited to the student's account to pay all charges.
- Other documents if requested
WHAT WOULD CAUSE MY OFFER TO BE ADJUSTED OR REVISED?
In addition to assistance available from the college, financial assistance is available from a variety of agencies. Such agencies have their own criteria for eligibility funding and limits.
Students should be aware that the various agencies and the college will determine their awards at different times and independently of each other.
In cases where a student receives additional aid awards, the aid package may need to be adjusted in order to comply with individual program guidelines.
Students and their parents should understand that the acceptance of any award is always subject to adjustment in order to comply with the guidelines of any one program from which funds are received.
Kansas Wesleyan University reserves the right to revise or cancel Financial Assistance awards if necessary. If you drop below the full-time status during a semester, drop out of school, or change housing status, your assistance may be affected. The offer of financial assistance is made in good faith. However, it is contingent upon the continued availability of funds, government regulations, award conditions (enrollment status of full-time or part-time, housing, etc.), your prompt response to requests for information, and your maintaining satisfactory academic progress. Financial assistance can be revoked due to failure to remain in good standing at KWU for disciplinary reasons. To be eligible to continue to receive financial assistance you must apply for assistance each year.
WHAT IF MY SITUATION CHANGES?
You should notify Student Financial Planning immediately of any changes in your financial situation, enrollment status (full-time, part-time), living arrangements or any other factors that may have a bearing on your financial assistance.
WITHDRAWAL FROM CLASSES
Students who withdraw from classes or stop attending classes must officially withdraw from the classes in the K-Dub Hub in Pioneer Hall Room 285 before the deadline established in the academic calendar. Students withdrawing from all classes must meet with the Student Development Office, Pioneer Hall Room to assure proper departure. Failure to officially withdraw from the classes may jeopardize a student’s future eligibility for student financial assistance, and may establish a poor academic record at the college. Loan recipients are required to complete an exit interview which can be done in the K-Dub Hub or on-line at www.studentloans.gov.
Refunds of tuition, room and board charges will be made to students officially withdrawing from all classes. No adjustment is made to a student’s charges, including room and board charges, for those students who withdraw from some, but not all courses, after the last day to add classes according to the academic calendar. A withdrawal administrative fee of 5% of original charges (up to $100) is charged to all students who withdraw from all classes at any point in the term after the first day of classes for the term.
Charges for tuition, room, and board will be pro-rated on the percentage of the term the student was enrolled at KWU up to sixty (60) percent of the term. Students dis-enrolling from all classes after sixty (60) percent of the term will not receive a reduction in charges.
Pro-Ration Formula For Charges for Tuition, Some Fees, Room and Board: To figure the percentage of charges earned, divide the total count of calendar days between the first day of classes for the term and the student’s “Withdrawal Date” in the semester by total calendar days in the semester. Weekends are included, but scheduled breaks of five (5) days in length or longer are excluded from both the number of days in the term and days enrolled. If the student completes more than 60% of the semester, all (100%) of the charges are earned for the semester. If the student completes 60% or less of the semester, the portion of charges “not earned” will be credited to the student’s account with the University.
Withdrawal calculations for students who received financial assistance from the Federal Student Financial Aid programs are also subject to a federal regulation that governs the amount of financial aid that must be returned to the Federal government if they withdraw from all courses for the term. See the section on "Return of Title IV Federal Student Aid," below. After the credit of unearned charges and the return of federal funds to the federal government and state financial aid programs and outside scholarship agency, the student may owe a balance to the University or may have a refund due to them. All calculations will be completed and refunds to the appropriate entities will be completed within thirty (30) days of the student’s Withdrawal Date. A copy of the calculations and Notice of Refund will be mailed to the student at their address of record with the University.
Responsibility is upon the student to request an official withdrawal with the Office of the Registrar in the Student Services Suite, Pioneer Hall 285. The Director of Student Development will conduct an exit interview. Ceasing to attend class does not constitute official withdrawal. If a student is confronted with unusual circumstances, an inquiry should be addressed to the Business Office. Refunds for summer and graduate studies courses will be made for withdrawals from individual courses according to the policy stated in the following paragraph. Apartments are rented by the semester and are subject to a prorated refund based on the schedule as stated in the lease document.
RETURN OF TITLE IV FEDERAL STUDENT AID
Federal regulations (§CFR 34.668.22) require the calculation of the percentage of Federal Student Financial Aid that a student who is a Federal Financial Aid Recipient, and who withdraws from all classes during a term after commencing attendance, has “earned.” This policy relates to Federal Pell, Supplemental Educational Opportunity Grants (SEOG), and TEACH Grants, as well as Federal Perkins, Direct Subsidized, Direct Unsubsidized, and Direct PLUS Loans. This policy does not apply for Federal College Work Study. “Earned,” in this context, means the portion of the student’s Title IV financial aid that does not have to be returned to the Federal Government, and can therefore be retained to pay “accrued” University charges for tuition, other fees, room, board, etc. In some cases, the amount “earned” may be enough to pay all “accrued” charges, and perhaps more, but in many cases, the student may still owe a balance to the University after withdrawal and the application of this policy.
During the first 60% of the term or semester, a student “earns” federal student aid in direct proportion to the length of time he or she remains enrolled. The percentage of time that the student remained enrolled determines the percentage of federal aid for that period that the student “earned”…which determines the amount of federal financial aid that does not have to be returned to the Federal Government. A student who remains enrolled beyond the 60% point earns all Federal aid for the period.
Formula: To figure the percentage of aid earned, divide the total count of calendar days between the first day of classes for the term and the student’s “Withdrawal Date” in the semester by total calendar days in the semester. Weekends are included, but scheduled breaks that are at least five (5) days in length are excluded from both the number of days in the term and days enrolled. If the student completes more than 60% of the semester, 100% of the aid is earned for the semester, zero percent must be returned to the Federal government. If the student completes 60% or less of the semester, the portion of federal aid “not earned” must be repaid to the federal aid programs.
Number of Days
Federal Funds Received by the Student
Earned: NOT returned to the Federal Government
Returned to the Federal Government
Number of Days
Number of Days Enrolled is calculated as:
- First day of this exemplar term was January 8th.
- Student began her official withdrawal process on March 10th.
- Sixty two (62) days had elapsed.
- This student withdrew before the Spring Break which begins on March 15th, so the spring break is not calculated in the numerator in the formula.
Number of Days in Term is calculated as:
- First day of this exemplar term was January 8th.
- The last day of Finals will be May 8th.
- One hundred twenty one (121) days elapse between those two days.
- Spring Break is more than five calendar days, so those days are not counted in the total days of the term. The days of Spring Break Saturday 3/15 through Sunday 3/23 is a period of nine (9) days.
- 121 days – 9 days = 112 calendar days in the term is the denominator in the formula.
For students receiving federal aid, the refund must first be repaid to the Title IV programs, state grants, institutional funds and alternative loans in accordance with existing regulations in effect on the date of withdrawal and with respect to various types of aid. It is possible that the student who withdraws will still have an outstanding balance due to the University.
Institutional refunds and the formula used to determine the required return of federal and other student aid will be finalized within 30 days of the withdrawal date. A copy of the calculations and Notice of Refund will be mailed to the student at their address of record with the University.
RETURN OF UNEARNED AID
If a student has not earned all of the federal aid received to date at the point of withdrawal, funds will be returned in the following priority order: Federal Direct Unsubsidized Stafford Loan, Federal Direct Subsidized Stafford Loan, Federal Perkins Loan, Federal Direct PLUS Loan, Federal Pell Grant, Federal SEOG Grant, Federal TEACH Grant, state grant and scholarship funds, institutional aid, outside scholarships.
THE WITHDRAWAL DATE IS DETERMINED AS FOLLOWS:
Official Withdrawals – the latter date of when the student began the institution’s official withdrawal process OR officially notified the institution of intent to withdraw;
Unofficial Withdrawals – the last date the student participated in an academic activity. If the student has to leave without notification because of circumstances beyond the student’s control, the institution may determine a withdrawal date related to those circumstances. The institution always has the option to use the student’s last day of attendance at a documented academically-related activity. If a student does not attend past the 50% point of a semester, a portion of federal aid will be returned (as mentioned above).
For further information or to view a sample refund calculation, contact the Office of Student Financial Planning in the K-Dub Hub, Pioneer Hall Room 285, or call 785-833-4319 or email firstname.lastname@example.org.
If you transfer from one school to another, your financial assistance does not automatically go with you. You must take the action necessary to continue receiving it at the new school. As soon as possible, check with the financial assistance officer at the new school to make sure that assistance will be available.
- If you have already completed the FAFSA, you need to request a copy of the results to be sent to the new school. Add the new school’s code at www.fafsa.ed.gov. If you haven’t completed the FAFSA, complete it as soon as possible and send a copy to the Student Financial Planning office. KWU’s code number is 001929.
- If you have a student loan for the current academic year, you should check with your former school to cancel the remaining disbursements. You should also be sure to drop any future classes at your former institution.
- Notify the school from which you are transferring and request an exit interview for your student loans.
CRITERIA FOR CONTINUED ELIGIBILITY
- You must do a new FAFSA each award year. The KWU priority deadline is February 1 each year. You must continue to meet the eligibility requirements and maintain satisfactory academic progress as described in the Satisfactory Academic Progress Section.
- Financial assistance programs require at least half-time enrollment (6-8 credit hours per term). Three-quarter enrollment includes 9-11 credit hours per term. Full-time enrollment includes 12 credit hours per term or more. Enrollment status for financial assistance purposes is determined for the regular term excluding any hours taken during summer sessions. Part-time students (fewer than 12 hours) can be considered for two financial assistance programs available at Kansas Wesleyan University–Pell Grants and/or Direct Loans. All other federal, state or institutional programs require full-time enrollment.
WHAT FINANCIAL ASSISTANCE IS AVAILABLE FOR SUMMER SCHOOL?
- You may be eligible for Federal financial aid in summer if:
- You have remaining “Annual Loan Limit” remaining for the award year in two types of Financial Aid programs: Federal Direct Stafford Loan or Unsubsidized Stafford Loan, and
- Parent Loan for Undergraduate Study (PLUS) If you are a dependent student and your parent is willing and eligible to borrow PLUS loan, and/or
- If you are eligible for Federal Pell Grant and are enrolled at least on a half-time basis and are enrolled in three hours or more for Summer.
You may be eligible for Federal financial aid in summer if:
You have remaining “Annual Loan Limit” remaining for the award year in two types of Financial Aid programs: Federal Direct Stafford Loan or Unsubsidized Stafford Loan, and
Are enrolled in three hours or more for Summer.
Check with the Student Financial Planning Office in Pioneer Hall, Room 285 to confirm amounts remaining available for the award year.
Enroll in summer classes through your advisor. You will be notified of any financial assistance award beginning the May 1 preceding the beginning of summer classes.