2008-2009 Catalog - Virginia Wesleyan College

FINANCIAL INFORMATION17funds are returned, the student borrower may owe a debitbalance to the institution.If a student earned more aid than was disbursed tohim/her, the institution would owe the student a postwithdrawaldisbursement which must be paid within 120days of the student’s withdrawal.The institution must return the amount of Title IVfunds for which it is responsible no later than 45 days afterthe date of the determination of the date of the student’swithdrawal.Refunds are allocated in the following order:• Unsubsidized Federal Stafford Loans• Subsidized Federal Stafford Loans• Unsubsidized Direct Stafford Loans (other thanPLUS loans)• Subsidized Direct Stafford Loans• Federal Perkins Loans• Federal Parent (PLUS) Loans• Direct PLUS Loans• Federal Pell Grants for which a Return of funds isrequired• Federal Supplemental Opportunity Grants forwhich a Return of funds is required• Other assistance under this Title for which a Returnof funds is required (e.g., LEAP)Financial AidVirginia Wesleyan believes that no student who wishesto attend Wesleyan should be denied the opportunitybecause of limited financial resources. The Director ofFinancial Aid is available to counsel with you and yourfamily regarding financial planning.If you demonstrate financial need, you may qualify forgrants, low-interest loans, and work-study. Financial need isdetermined after an analysis of the Free Application forFederal Student Aid (FAFSA). To be considered forfinancial aid, you need to submit the FAFSA, which isavailable at www.FAFSA.ED.GOV or from your guidancecounselor or the college. Financial aid is granted on anannual basis and your need is re-evaluated each year. Firstpreference is given to applicants who meet the March 1priority mailing deadline.Virginia Wesleyan also offers academic scholarships,without regard to need, to entering new and transferstudents with outstanding academic records.Aid Programs:Academic Competitiveness Grant (ACG)Pell eligible freshmen and sophomores based on needand academic performance.National Science and Mathematics Access to RetainTalent Grant (SMART)Pell eligible Juniors and Seniors based on GPA andspecific fields of study.Federal Pell GrantAmount — $523-$4,731 grant (2008-2009)Eligibility — Demonstrated needFederal Supplemental EducationalOpportunity Grant (FSEOG)Amount — $200-$2,000 grantEligibility — Demonstrated needFederal Work-Study (FWS)Amount — $1,000-$1,500 awardEligibility — Demonstrated needFederal Perkins LoanAmount — $200-$3,000 loanEligibility — Demonstrated needFederal Stafford Student Loan ProgramsSubsidizedAmount — $200-$5,500 loanEligibility — Demonstrated needFiling dates — May 1-August 1UnsubsidizedAmount — $200-$5,500 loanEligibility — No need requirementFiling dates — May 1-August 1Virginia Tuition Assistance Grant (VTAG)Application — VTAG applicationfrom Virginia WesleyanAmount — $3,200 (2008-2009)(Amount subject to change)Eligibility — No need requirement;Virginia domiciliary requirementCollege Scholarship Assistance Program (CSAP)Amount — $1,000-$2,000 grantEligibility — Demonstrated need;Virginia domiciliary requirementVWC Merit Scholarships:Wesleyan ScholarsApplication — Wesleyan Scholar CompetitionFiling deadline — January 1Amount — Up to full comprehensive fees forfour yearsEligibility — No need requirement; based onacademic credentials, essays,and interviewsPresidential ScholarshipApplication — VWC Admission ApplicationFiling deadline — March 15Eligibility — No need requirement; based onacademic achievement,SAT scores, GPAAcademic Dean ScholarshipApplication — VWC Admission ApplicationFiling deadline — March 15Eligibility — No need requirement; basedon academic achievement,SAT scores, GPALeadership ScholarshipApplication — VWC Admission ApplicationFiling deadline — March 15Eligibility — No need requirement; based ondocumented leadership activities inschool and community