Applying for Financial Aid

You probably know that completing your college education will take time, effort, preparation, and money. What you may not realize, however, is that the financial investment you make will provide you with a life-long return to your career and lifestyle.

Obtaining financial aid can seem quite overwhelming. With a little planning and organization, the process can be easily managed. It is important for you and your family to complete all requests. Otherwise, you can cause a delay or even lose your financial aid eligibility. Wilmington College has made every effort to make the financial aid process as simple as possible.

Step 1: Apply for admission to Wilmington College. The admission application process must be complete in order to receive a financial aid award.

Step 2: Apply for a PIN. Both students and parents need a U.S. Department of Education Personal Identification Number (PIN) to serve as your electronic signature for the Free Application for Federal Student Aid and other forms.

Step 3: Complete the Free Application for Federal Student Aid (FAFSA). To apply for federal, state, and Wilmington College aid programs, families must complete the Free Application for Federal Student Aid as soon after January 1 as possible. Financial aid is awarded on a first-come, first-served basis. Wilmington College has established a March 15 priority-filing deadline. Applications filed by March 15, will receive priority consideration for limited funding sources. WC’s school code for the FAFSA is 003142. Keep in mind that applying for financial aid is an annual process. You must complete the FAFSA each year.

Step 4: Student Aid Report. The federal processing center will analyze the information you provided on the FAFSA, using a federal mandated formula to determine an Expected Family Contribution (EFC). The EFC is the amount of support the family is expected to contribute towards educational costs. The Federal processing center will communicate your EFC (your FAFSA result) to you via the Student Aid Report (SAR). Review this information carefully and make any needed corrections electronically.

Step 5: Verification. Wilmington College will also receive an electronic version of your SAR. We will review this document to determine whether or not your application was selected for a process called verification. If selected, WC will send you an "Information Request Form" asking you to submit copies of federal tax returns and other documents needed to "verify" the information provided on the FAFSA. For this reason, WC encourages families to create a financial aid file to retain copies of all records used to complete the FAFSA.

Step 6: Financial Aid Award Notice. A financial aid award packet will be issued after you are accepted for admission and after verification (if selected) has been completed. The award notice will contain all aid programs for which you qualified. Be sure to return your award notice by the due date indicated on the award notice.

It is important not to assume that a private education is too large of an investment and middle income families do not qualify for financial aid. Family income is only one of the factors used in awarding financial aid. After receiving a financial aid award, many of our families find that a Wilmington College education is affordable.

Regardless of your family income, you have the potential to afford the quality education you want and more importantly deserve. This is why Wilmington College is committed to making your college education as affordable as possible. In fact, over 95% of the students who apply for financial aid are eligible for some form of assistance.

Anywhere throughout this process that you need assistance, please feel free to contact us. We look forward to working with you and your family to achieve your educational goals

Timeline

Being organized and meeting deadlines is an integral part of financial planning. To keep you on top of things, Wilmington College is providing you with a timeline. Review and refer to this guide often. Be sure to keep a record of each task completion.

Timeframe	Event
Mid-junior year of high school	Begin scholarship search process. Collect information on scholarships, deadlines, and application requirements.
Beginning senior year of high school	Apply for admission to WC. Financial aid cannot be awarded without acceptance.
January 1	Complete and submit the FAFSA as soon as possible after this date.
Mid-February	Financial aid awards and Information Requests sent to accepted students. Awards are sent continually as FAFSA results and additional information (if needed) are received.
March – April	New WC students must complete the Online Stafford and/or Perkins Loan Entrance Counseling requirements.
May 1	Enrollment and Housing deposits must be paid.
Early June	Fall billing statements mailed to registered students.
Early August	Fall bills must be paid.
Late August	Fall classes begin.
October 1	Ohio Instructional Grant deadline. FAFSA must be filed by this date to be considered for this program.
Mid-November	Spring billing statements mailed to registered students.
Mid-December	Spring bills must be paid.
Early January	Spring classes begin. Start timeline again for next year’s aid.

Helpful Hints and Suggestions

1. Complete the application for admission as early as possible. Remember, you will not receive a financial aid award notice until you are accepted for admission.

2. Keep a Financial Aid File containing copies of all completed forms.

3. Accuracy is paramount; mistakes can postpone your receipt of aid by eight to ten weeks.

4. Timeliness is important. If you do not meet deadlines established by the federal and state governments, and Wilmington College, you may not receive all the aid for which you are eligible.

5. If you have questions, need additional information or forms, or need assistance in filling out financial aid forms, call the Wilmington College Student One Stop Center toll free number (1-800-341-9318).

6. Do not limit your search for financial assistance to only federal, state and college sources. Other forms of aid are available from community, fraternal and professional organizations. Information is available at most public libraries and high schools.

Financial Aid Requirements

To continue to receive financial aid, you must meet certain guidelines. It is important for you to understand them.

Enrollment

Most aid programs require students to be enrolled full-time. A few programs allow half-time enrollment (at least 6 hours). Dropping classes, withdrawing, or taking a leave of absence can have a major impact on your financial aid award. Students considering dropping a class(es), withdrawing, or taking a leave of absence are encouraged to contact the Student One Stop Center before making any decisions.

Satisfactory Academic Progress

Financial aid funds are awarded with the understanding that students will progress towards obtaining a degree in a timely manner. Students must maintain a 2.00 cumulative grade point average after the second year of study and must complete a degree program within six years (12 semesters) as described below.

Gpa Requirement	Year of Study
1.60 cumulative gpa	Freshman (0-29 hours)
1.80 cumulative gpa	Sophomore (30-59 hours)
2.00 cumulative gpa	Junior/Senior (60+ hours)

The academic record of each student is reviewed at the end of each term (excluding summer). Those students not meeting the requirements are sent a letter notifying them that they are on probation or no longer eligible to receive financial aid funds.

Housing Status

Financial aid awards are based on your housing arrangements. Changes in housing can greatly affect your aid award. Before making a decision to live on or off-campus, you are strongly encouraged to request an aid adjustment estimate from the Student One Stop Center. Students who live off campus (not with parents) will in most cases, lose approximately $4,500 in Wilmington College Grant.