Why was I selected for verification?
The federal government randomly selects FAFSA applicants for verification. Verification is a process that all colleges who award federal aid funds are required to complete. The purpose of verification is not to find fraudulent FAFSA applicants, but to find and correct common mistakes made during the application process. Financial aid cannot be credited to the student’s account until verification is completed, so it is important to return the requested documents as soon as possible.
What is the Stafford Loan Master Promissory Note (MPN)?
The Stafford Loan MPN is a legally binding contract you sign agreeing to repay the Stafford Loan money you have borrowed. It is extremely important to read everything included on your MPN. By signing the MPN, you not only agree to repay the funds you borrow, but you also agree to all terms and conditions included in the MPN. Your MPN will expire ten years after the date it is signed. However, there are situations that would cause your MPN to expire sooner like switching lenders. Generally, a new MPN is not required if you change schools unless you are transferring from a four-year to a two-year school.
Can I receive financial aid for summer classes?
Summer semester begins the academic year. Financial aid programs are limited. Aid funds used during the summer semester greatly impact funds available for fall and spring semesters. Students interested in receiving financial aid for the summer semester are encouraged to consult the Student One Stop Center before enrolling in summer classes.
Do I receive the same financial aid award each year?
Not necessarily. You must apply for financial aid each year and if the family income, family size, or number in college changes, your financial aid award will most likely change as well.
What happens if I receive an outside scholarship?
Wilmington College tries to completely meet your financial need, but it is not always possible. If we have not met your full need, the outside scholarship can fill the gap between your need and financial aid. If your need has been met, then the outside scholarship reduces the self-help portion of your award, which includes loans and work-study before the grant is reduced. It is possible that your Subsidized Stafford Loan (need-based) could change to an Unsubsidized Stafford Loan (non-need-based).
What happens if I change my housing arrangements?
The financial aid award you receive is based on charges incurred as a resident or commuter student. If you change your housing status, your financial aid award including WC funded aid programs including grants, awards, scholarships and institutional loans will also change. Students are strongly encouraged to contact the Student One Stop Center for an aid adjustment estimate before changing their housing status.
My parents do not claim me on their taxes. Am I independent?
Not being claimed on a parent tax return does not make you an independent student. To be considered independent for financial aid purposes, you must be able to answer “yes” to at least one question on the FAFSA that pertains to independent status.
What paperwork do I need to complete in order to begin work on campus?
You must have a W-4 Form, a copy of your social security card, and a copy of your driver’s license on file with the Human Resources Office located in College Hall.
What if I intend to use VA Benefits?
There is a page dedicated to VA Benefits information. Access the page by clicking here (VA Benefits).