How do I apply for financial aid?

College for Working Adults Student Financial Aid

Assistance

It is the purpose of the College for Working Adults (CWA) Financial Aid Office at William Penn University (WPU) to assist the student in financial planning for college. In doing this, WPU attempts to make it financially possible for fully accepted students in a degree-seeking program at WPU to experience the advantages of a college education.

The primary criterion for determining the amount of assistance a student is eligible to receive is the financial need of the student. The type or kind of assistance available is related to the financial need.

Various grants are awarded on the basis of enrollment. Failure to begin attendance in any of the classes for the academic year may result in an adjustment to the student’s financial assistance.

APPLYING FOR FINANCIAL AID ASSISTANCE

Most financial assistance is awarded to students with an established financial need. For this reason, it is necessary for applicants to submit data that will allow the university to determine that need. The data is submitted on the Free Application for Federal Student Aid (FAFSA) or Renewal Application. Applications may be received for the next academic year beginning January 1st. The student should be sure to list WPU on the form with the school code of 001900. If a student has already completed a FAFSA and need to add WPU to their existing FAFSA, the student can select “Add or Delete a School Code” at www.fafsa.ed.gov.

Important Notices

  • Iowa resident, as defined by the State Board of Regents, must submit their FAFSA  forms to the U.S. Department of Education’s (ED) Central Processing Center (CPS) by July 1 in order to be eligible for the State of Iowa funds (see State Student Financial Aid below). It is recommended that the FAFSA, if using the paper application, be mailed no later than mid-June.
  • WPU reserves the right to modify awards if the student receives additional aid, if there is a substantial change in the parent or student income/assets, if there is incorrect information on the FAFSA, or if there is a change in student status involving enrollment or housing.
  • Award amounts offered from federal and state programs are contingent upon congressional and legislative allocation of funds.
  • Financial aid that is awarded should be disbursed to the student’s university bill within 60 days of the beginning of each payment period provided all documentation needed is received at the university.

There are two types of applications. Students can fill out a paper or online FAFSA form. Students who have applied in prior years should use their renewal FAFSA, located on the Web. Students are strongly encouraged to file the FAFSA on the Web. The ED has stated that those filing online are not only processed faster but have fewer errors. Students are also encouraged to obtain a Personal Identification Number (PIN).

PIN gives students Internet access to their FAFSA and other federal aid information. Your PIN number will not change from year to year. Students can get a PIN by going to the Web site at www.pin.ed.gov. Applicants can use their PIN to: 1) electronically sign online FAFSA or Renewal FAFSA forms; 2) correct their FAFSA online using the "Corrections on the Web"; 3) see their expected family contributions (EFC) and other student aid report information as soon as the FAFSA is processed; 4) sign electronic promissory notes;and  5) review their personal financial aid history as maintained in the National Student Loan Data System (NSLDS), which enables a student to track their loans and the amounts borrowed while seeking their degree. Beginning 2006-2007 academic year, the “I Forgot/Don’t Know My PIN” option was added to assist PIN users who have misplaced or forgotten their PIN. This option will link to the "Duplicated PIN Request" page where the user can request a duplicate PIN.

The online FAFSA form can be found at www.fafsa.ed.gov. This site allows students to complete the application online and submit it directly to the ED's processing center. Report documents (see below) will be generated in approximately one to two  weeks and sent to the student and to the school(s) listed on the FAFSA application. It is recommended that the information be reviewed by the student for any possible errors. Students can correct any of their previously submitted data except for their SSN and date of birth by returning to the Web site or calling the university’s Financial Aid Office.

Report documents are issued after the processing is completed by the ED's CPS. There are two types of report documents: the Institutional Student Information Record (ISIR), which is electronically sent to the school(s) listed on the FAFSA, and the Student Aid Report (SAR), which is sent to the student.

The SAR will confirm the information reported on your FAFSA and will come in one of three ways: 1) Students who give e-mail addresses, whether on the paper or online FAFSA forms will receive e-mails with a link to online SARs; 2) Students who do not give e-mail addresses and who apply with paper applications will receive paper SARs; 3) Students who apply electronically and do not provide e-mail addresses will receive SAR Information Acknowledgements, which contain fewer and less detailed comments than the SAR and cannot be used for corrections like the SAR can. The SAR confirms the information reported on a student's FAFSA and contains his or her EFC. The EFC is a measure of the student's family financial strength and is used to determine eligibility for federal, state and institutional aid. A completed and corrected SAR is required to receive financial aid.  The university suggests that each student reviews the SAR to verify that information entered is correct. Regardless of how a student applies, he or she will receive a rejected paper SAR if a student or parent signature is missing.

VERIFICATION

Federal regulations require selected applicants of the FAFSA to complete a process called verification. Students may be selected for this process by the ED or by WPU. If a student is selected for the verification process, he or she is required to provide WPU with supporting documents used when completing the FAFSA (i.e., copies of federal tax returns) and a verification worksheet that will be provided by the university. This information will be used to verify that the information provided on the FAFSA is accurate. It is important to provide WPU with any requested material as soon as possible. The verification process should be completed 30 days prior to the last day of classes in order to receive financial assistance. Financial aid may not be disbursed to the student’s university bill until the verification process is complete. A revised notification may be sent to the student if any awards change as a result of verification.

FEDERAL STUDENT FINANCIAL AID

Following is a list that includes, but is not limited to, a description of federal student financial assistance programs available to students who enroll at WPU.  Please note that graduate students are only eligible for federal loan funds. Please see Federal Stafford Loans below.

WPU participates in the federal financial aid programs. Applications for these programs are made by completing the FAFSA at www.fafsa.ed.gov. WPU should be listed on the form with the school code of 001900. See "Applying for Financial Assistance" above.

The Pell Grant, SEOG, Federal Perkins Student Loan, Federal Stafford Student Loan and the Federal Plus Loan are awarded by the CWA Financial Aid Office at WPU. The result of the student's FAFSA will determine the eligibility for these programs. The student must be fully accepted and seeking a degree at WPU as well as providing all required documents requested by the Financial Aid Office. Grant funds are automatically ordered by the University for eligible students.

The Federal Pell Grant is based on need and does not have to be repaid. Pell Grants are awarded only to undergraduate students who have not earned a bachelor’s degree. To determine Pell eligibility, the ED uses a standard formula, established by Congress, to evaluate the information a student reports when applying. This formula produces an EFC number. Each student receives his or her SAR  from the ED's processing center; it contains this number (the EFC) in the upper right portion of page 1. This number will determine Pell eligibility as well as dollar amount. WPU will credit the student university bill at least once per payment period.

The Federal Supplemental Educational Opportunity Grant (FSEOG) is for undergraduate students who have not earned a bachelor’s degree and who show exceptional financial need – that is, students with the lowest EFCs – and gives priority to students who receive Federal Pell Grants. A FSEOG does not have to be repaid. The difference between FSEOG and a Federal Pell Grant is that the ED guarantees that each participating school will receive enough money to pay the Federal Pell Grants to its eligible students. There is no guarantee every eligible student will be able to receive an FSEOG; students at each school will be awarded these funds based on the availability at that school. WPU will credit the student university bill at least once per payment period.

The Academic Competitiveness Grant (ACG) is for undergraduate students who receive a Federal Pell Grants during the same award year and who are U.S. citizens. The student must be full-time and in his or her first or second year of an undergraduate degree program and have completed a rigorous secondary school program of study. First-year students must have completed secondary school after January 1, 2006 and not, while in high school, have been enrolled in a postsecondary program with the intent to earn a degree or certificate. Second-year students will have completed secondary school after January 1, 2005 and have at least a 3.00 grade point average (GPA) as of the end of the first academic year of undergraduate study.

The Federal Perkins Loan is a low-interest (5 percent) loan for undergraduate students with financial need. WPU is the lender. The loan is made with government funds, and the university contributes a share. WPU will credit the student's university bill once you have completed the necessary loan paperwork. This is a binding legal document; upon a signature, it is agreed that the student will repay the loan under the stated terms. If in attendance at least half-time, there is a nine months grace period after graduation, leave from school, or drop below half-time status before the loan goes into repayment. Monthly repayment amounts will depend on the size of debt and the length of the repayment period.

Federal Stafford Loans are either subsidized or unsubsidized. Students can receive a subsidized loan and an unsubsidized loan for the same enrollment period. The initial application process uses the FAFSA or Renewal FAFSA, as described above for grant processing. However, when requesting loan funds, a completed master promissory note (MPN) with the Federal Direct Lending Program is required. The signed MPN is a binding legal document with the understanding of full repayment under the stated terms. First time borrowers at the university must also complete an entrance interview that can be found at www.dl.ed.gov. The master promissory note, the entrance interview and a separate loan authorization form provided by the university with the award notification must be completed before loans will be credited to the student’s account. The loan funds will be sent to the university and will be credited to the student’s university bill in at least two installments.

  • A subsidized loan is awarded to both graduate and undergraduate students on the basis of financial need. No interest will be charged before the student begins repayment or during authorized periods of deferment. The federal government “subsidizes” the interest during these periods. The amount students are eligible to borrow will be determined by “need” and grade level. 
  • An unsubsidized loan is awarded to both graduate and undergraduate students but no awarded on the basis of financial need. Interest will be charged from the time the loan is disbursed until it is paid in full. If interest is accrued  while in school or during periods of nonpayment, it will be capitalized – that is, the interest will be added to the principal amount of the loan, and additional interest will be based on the higher amount. The borrower can choose to pay the interest as it accumulates. 

The Federal Parent PLUS Loan is a loan that is available to graduate students. The Federal Grad PLUS loan has a higher interest rate than the Federal Stafford Loans. A student must file a FAFSA to be eligible for a Grad PLUS loan. This loan is based on credit history, so it is possible that a co-signer may be required. The maximum a student may borrow in this program is the total cost of attendance minus any other financial aid received. Payments on this loan may be deferred while in school and enrolled at least half-time in a graduate program. Interest does accrue on this loan during the deferment period. There is no grace period for the Grad PLUS Loan as it will go into repayment as soon as student drops below half-time enrollment, graduates, or withdraws from school. If a student is interested in this loan, contact the Financial Aid Office.

More information regarding the federal programs is located in “The Guide to Federal Student Aid” provided by the ED. This booklet explains these programs in further detail and is located in the Financial Aid Office at WPU or can be accessed through the ED's “Financial Aid for Students Home Page” and click on "Publications."

STATE STUDENT FINANCIAL AID

Following is a list that includes, but is not limited to, a description of all state student financial assistance programs available to students who enroll in the CWA at WPU.

WPU participates in the state student financial aid programs.

Iowa Tuition Grant is based on financial need. The maximum grant is currently given for each year of full-time undergraduate study. The Iowa Tuition Grant is prorated to students less than full time as determined by the state of Iowa. Students must complete the FAFSA to apply for the Iowa Tuition Grant.  WPU should be listed on the form with the school code 001900.  See "Applying for Financial Assistance" above.  To be eligible for the Iowa Tuition Grant, the student must:

  • Be a resident of Iowa as defined by the State Board of Regents;
  • Be a United States citizen or residing in the United States on a permanent visa;
  • Be currently enrolled or planning to enroll in an undergraduate program at an Iowa private university;
  • File a FAFSA, and this application must be received at the processing center by July 1 of each year, and WPU should be listed on the FAFSA application with a school code of 001900.  WPU will not assume responsibility for replacing funds if the student misses the deadline.

The Iowa Tuition Grant is awarded by the CWA Financial Aid Office at WPU. The Iowa National Guard is determined by the state. The student must be fully accepted and seeking a degree in the CWA at WPU as well as provide all required documents requested by the Financial Aid Office.

In the event that available state funds are insufficient to pay the full amount of each approved grant, the Iowa College Student Aid Commission has the authority to administratively reduce the award. The university may not assume responsibility for replacing funds caused by insufficient state funds. Students can to visit the Iowa College Student Aid Commission Web site for further information.

Iowa National Guard Educational Assistance provides funds to members of the Iowa National Guard Units for covering the costs of attending designated Iowa colleges and universities. Recipients must:

  • Be residents of Iowa, as defined by the Adjutant General of Iowa, and member of an Iowa Army or Air National Guard unit throughout each term for which the members receive benefits.
  • Have satisfactorily completed required Guard training.
  • Have maintained satisfactory performance of Guard duty.
  • Have applied to the Adjutant General of Iowa for program eligibility.
  • Be pursuing certificates or undergraduate degrees at eligible Iowa colleges or universities and maintaining satisfactory academic progress (students with B.A. degrees are not eligible to participate even if pursuing a second B.A. degree).
  • Be member of the Iowa National Guard units with Pay Entry Basic Dates (PEBD) of July 1, 1991, or later.

Guard members seeking tuition assistance must apply to the Adjutant General of Iowa by the dates they specify. Applicants are not required to complete the FAFSA.

OUTSIDE SOURCES OF AID

Outside sources of aid are usually awarded by corporations, civic groups and/or educational groups. Students may contact businesses and organizations within their communities for possible scholarship funds. In addition, students may conduct a free scholarship search over the Internet at www.fastweb.com.

Any financial assistance that received from sources not listed on aid awards, such as a scholarship from a local or private organization, military benefits and/or vocational rehabilitation benefits must be reported to the CWA Financial Aid Office. When notifying the CWA Financial Aid Office of an outside award, please list the name of the award or donor and the amount of the award. The University will attempt to adjust the award in a manner that is most beneficial while maintaining compliance with federal, state and institutional regulations. Outside scholarships may be credited to the student's university bill when the funds are received.

Veteran’s Benefits: A student planning to receive Veteran’s Educational benefits (benefit depends upon student attending a school for higher education) needs to contact the CWA certifying official in the Academic Services Office in advance of his or her enrollment to request certification. 

SATISFACTORY ACADEMIC PROGRESS STANDARDS FOR FINANCIAL AID

The federal government requires students to maintain satisfactory progress toward their degree in order to receive financial aid. Satisfactory academic progress is achieved when a student maintains both the required GPA and the required completion rate. In the CWA at WPU, the minimum standards are established for students who are receiving or applying for financial aid from one or more various federal, state or institutional programs. Failure to meet the minimum required standards will result in a suspension of financial assistance. This suspension is the loss of financial aid eligibility. Suspension of aid is not the same as academic suspension that is handled by the CWA Academic Services Office. If, however, the CWA Academic Services Office academically dismisses a student, the student will automatically lose eligibility for financial assistance.

The academic progress of financial aid recipients is monitored a minimum of once each academic year as defined by the College for Working Adults. Students should contact the CWA Financial Aid Office with questions regarding these standards.

Students enrolled in the CWA at WPU may also have a maximum of 186 attempted hours at the time of the award package when obtaining a bachelor’s degree, 96 for an associate  degree and 54 attempted hours in the master’s program to be considered making progress. The number of credits accepted by WPU from other colleges or universities will also count towards the maximum.

GPA Requirements:

Students must maintain a 2.00 minimum cumulative GPA in the CWA Adults at WPU.

Students who do not have the minimum cumulative GPA will be granted probationary periods in which to raise their cumulative GPAs to the minimum. Failure to achieve this standard following the probationary period will result in the loss of financial aid eligibility until the cumulative GPA meets the minimum standards.

Required Completion Rate:  Students must earn at least 67 percent of the credits that they attempt. Students who have not completed the minimum cumulative credit hours will be granted a probationary periods in which to raise their completed cumulative hours to the minimum level. Failure to achieve this standard following the probationary period will result in the loss of financial aid eligibility until the completed cumulative credit hours meets the minimum standards.

Incomplete Grades: An incomplete or “I” grade will not count as hours completed for the purpose of determining academic progress. If the credits are later given for the course(s), it is the student’s responsibility to notify the Office of Financial Aid so that academic progress may be reassessed.

Withdrawals: Credit hours, from which the student has withdrawn or received a grade of “W", will be counted as attempted credit hours for the purpose of determining academic progress.

Repeated Coursework: When a student repeats a course, the higher grade received will be used in the calculation of the cumulative GPA. When a course is repeated, the hours for the course will count as attempted hours for the current semester but will not add into the cumulative hours. Exceptions are stated in the university catalog.

Transfer Students: Transfer credits that are accepted at WPU will be counted toward the total attempted credits only in determining whether the student is maintaining satisfactory academic progress when calculating the GPA requirements.

Re-establishing Eligibility: A student who has lost financial assistance eligibility can regain eligibility by making up deficiencies by achieving the minimums stated above. It is the student’s responsibility to notify the CWA Financial Aid Office at the end of the academic year so that academic progress may be reassessed. A student who has lost financial assistance and does not submit an appeal, or his or her appeal is not granted, may choose to discontinue his o her registration of classes. If a student chooses to return after the time frame of lost financial assistance, he or she must reapply through the admissions office and meet the minimums stated above.

Appeals: If a student does not meet the minimum credit hours and/or cumulative GPA requirements to be considered as maintaining satisfactory academic progress, the student may appeal, in writing, any extenuating circumstances to the director of financial aid. Extenuating circumstances consists of illness or injury of the student or dependent of the student; death of a family member; family difficulties, such as divorce or illness; interpersonal problems with friends, roommates, or significant others; difficulty balancing work, athletics, family responsibilities, and school; and financial difficulties. The letter should be received within 10 days from the date of the official notice of ineligibility and should state the reason he/she did not meet the minimum requirements and what they plan to do to correct the situation. An appeal committee will review the student’s request and notify the student, in writing, of its decision.

LEAVE OF ABSENCE

ED requires that a written request be made for a leave of absence (LOA). This process is required to maintain an in-school status. In order to drop a class before it begins and be granted an approved LOA, and not withdrawn from the university, the paperwork must be completed with the student’s adviser while the student is still in attendance.

A LOA may also be used for breaks in attendance between courses due to a change in cohorts for which all of the LOAs cannot exceed 180 days in a 12-month period of time.

If the student began a course and needs a LOA, it must be due to an unforeseen circumstance, such as illness, accident, military deployment or grievous personal loss beyond the student’s control and he or she should immediately contact their student adviser to complete the necessary paperwork.

The student must include the reason for the request on the form, sign the form and have written approval from his or her adviser and the CWA Financial Aid Office before the request is considered approved. Taking a LOA will adjust the student’s academic year dates and hence may adjust the student’s financial aid in both dollar amounts and dates of disbursements. While a student is on a leave of absence, Federal Stafford Loans cannot not be disbursed as well as other student financial aid may be held until it has been verified that the student has resumed attendance. A student who fails to attend on the date indicated on the approved LOA is considered to have ceased attendance and this will result in an unofficial withdraw from all classes. The last day of attendance will be the last day attended prior to the leave of absence. Failure to return as expected may also impact repayment terms, including the exhaustion of some or all of the grace period on Federal Stafford Loans.

WITHDRAWING

A student interested in withdrawing from all classes in the CWA at WPU should contact his or her adviser to begin the withdrawal process. The Financial Aid Office is required to complete a federal calculation upon a student’s withdrawal. Based on this calculation, financial aid will be refunded to the appropriate federal, state, and institutional sources. The amount of the return is based on the percentage of the payment period that has not been completed. The percentage is computed by calculating the number of calendar days remaining in the payment period, divided by the number of calendar days in the payment period. If funds have been previously released to a student because of a credit balance (prior to the withdrawal) on the student’s university bill, then the student may be required to repay the university some of the monies released to the student. Withdrawals will also impact repayment terms, including the exhaustion of the grace period on Federal Stafford Loans.

Students who do not go through the official withdraw process will be deemed to have attended through the last date of attendance that can be documented by the university and will have financial aid pro-rated according to the university policy as stated in the above.

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