- What is financial aid?
- How do I determine if I qualify for federal financial aid?
- What is the Student Aid Report (SAR)?
- How is my financial aid package determined?
- What is verification?
- How will I be notified about my financial aid package?
- Do I have to claim my financial aid as taxable income?
- What is a PIN?
- Are there grade requirements to receive financial aid?
- Are there any other payment options at Western Oregon University?
- When will I get my money?
- Can I pay my school bills with a credit card?
- I plan to get married in June. Can I file my FAFSA in January before I am married and update my marital status after my marriage?
- Would it be better for me to file before or after I get married?
- Can I get an estimate of my expected family contribution?
- Is my financial aid information secure and confidential?
- How do I withdrawl from WOU? 2010-2011 or 2011-2012
What is financial aid?
Financial aid can be made up of a combination (package) of grants, loans, scholarships and work study employment. Funding for these programs comes from a variety of sources including federal, state, private and institutional. Undergraduates can receive all types of financial aid. Graduate students are only able to receive Federal Direct Loans, Federal Perkins Loans and Federal Work Study if they qualify. There are other helpful sites on the Internet to help you fully understand what financial aid is. The U.S. Department of Education has a Student Guide that provides more detailed information regarding Federal Student Aid.
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How do I determine if I qualify for federal financial aid?
To qualify for federal financial aid you must:
- Be a U.S. citizen or an eligible non-citizen.
- Have a valid Social Security Number.
- Have a high school diploma, an approved Associate of Arts degree, a General Education Development (GED) Certificate, or a passing score on an approved examination. GED tests are available at local community colleges.
- Be registered with the Selective Service, if required.
- Be formally admitted to WOU and be admitted and enrolled in a degree or certificate program, or be taking required preparatory coursework for admittance into a degree or certificate program. Students working toward a teaching endorsement only are not eligible for federal aid.
- Meet federal financial aid guidelines concerning convictions regarding the sale or possession of illegal drugs.
- Be making satisfactory academic progress.
- Not be in default or owe a refund on a federal student grant or federal student loan.
- Demonstrate financial need (except for Federal Direct Unsubsidized Stafford Loans, Federal Direct PLUS Loans and Federal TEACH Grants).
- Have a valid, federally calculated Expected Family Contribution (EFC) on file with WOU's Financial Aid Office. The EFC is determined by a formula established by the U.S. Congress.
- Submit all required paperwork (signed award letter, etc.) before the end of the enrollment period.
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What is the Student Aid Report (SAR)?
The (SAR) is the Student Aid Report. The SAR summarizes the information you reported on your FAFSA, FAFSA renewal, or FAFSA on the Web. The SAR will also indicate the Expected Family Contribution (EFC). You will receive a SAR from the central processor after you have submitted your FAFSA. Your SAR may come by U.S. mail or by email if you provided an email address on your FAFSA. If you do not receive a SAR, or want to request a duplicate copy, call the U.S. Department of Education toll-free 1-800-433-3243. When you receive your SAR, make sure that all of the information reported is accurate. If there are no corrections that need to be made, simply file it with the rest of your financial aid information. If corrections are necessary, make them directly on the SAR. Then sign the SAR and send pages back to the processor (the address is listed on the SAR.) Always keep a copy of the SAR for your records.
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How is my financial aid package determined?
It is the policy of the Financial Aid Office to provide you with a financial aid package to meet your calculated eligibility whenever possible. Providing you with financial aid to the full extent of your eligibility is contingent upon federal, state, and institutional funding and individual aid program limits. Aid applicants are rank ordered based on level of expected family contribution. Those students whose FAFSAs are received by the federal processor by February 1, whose files are complete, and who have applied for admission to Western Oregon University are awarded first. The amount of need based aid you are eligible to receive is determined by subtracting your expected family contribution (EFC) from the cost of attendance at WOU.
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What is verification?
Verification is a process required by the federal government and is used to verify the information provided by students and parents of the FAFSA. Certain applications are selected for verification by the federal processor due to federal edits or random selection. Other applications may be selected by the Financial Aid Office to clarify information. Verification documents may include federal income tax returns, W-2 Wage and Tax Statements and verification worksheets. If a student is selected for verification, the award letter will be sent after the verification process is complete.
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How will I be notified about my financial aid package?
After the financial aid counselor reviews your file and your aid package has been determined, you will receive an award letter from WOU's Financial Aid Office. If you applied by the priority deadline, completed the requirements for your file and applied for admission, you will be sent an award letter in late spring or early summer stating the types and amounts of financial aid you are eligible to receive. You need to read the conditions of the award on the back of the award letter and the Facts on Financial Aid and return one signed award letter to the Financial Aid Office. You will have a three-week period in which to sign and accept or decline the aid offer. Failure to return a signed award letter within the given time may result in cancellation of your aid without further notice.
Requesting revisions If you want your financial aid package revised, you may note that on the back of your award letter. Your request will be reviewed by a financial aid counselor and you will receive a response only if the change is possible. You may request revisions at any time during the academic year. Aid offers may be adjusted during the year by the Financial Aid Office due to non-university factors such as changes in federal regulations or insufficient federal or state funding.
Declining Loans If you choose to decline your loans, you may do so in writing at any time up to the time of disbursement or you may choose to repay your loans at anytime.
Full-time or part-time attendance Full-time attendance at WOU for every term including summer is at least 12 credits per term if you are an undergraduate or post baccalaureate or 9 credits per term if you are a graduate student.
If you plan to attend school less than full-time, notify the Financial Aid Office and indicate the number of credits you plan to take each term during the academic year. To receive assistance from the Federal Direct Loan program, you must be at least a half-time student (6 credits per term for undergraduate or post-baccalaureate students and 5 credits per term for graduate students). If you are eligible for a Federal Pell Grant, it will be prorated in accordance with the Federal Pell Grant payment schedule for part-time attendance. Students attending less than half-time may be eligible for the Pell Grant.
Summer Session Summer Session is considered the last term of the academic year for financial aid purposes at Western Oregon University. Full-time summer session attendance is the same as any other term: 12 credit hours for undergraduate and post-baccalaureate students, and 9 credit hours for graduate/master's students. Summer Session is awarded based on the student's completion of a Summer Session Financial Aid Request Form available in the spring.Changes in resources Additional resources (such as outside scholarships, stipends, tuition remissions, veteran's benefits, vocational rehabilitation benefits, etc.) must be reported to the Financial Aid Office so that any necessary adjustments can be made. Additional resources must be reported to avoid an over award situation whereby financial aid repayment could be required.
Special circumstances If the situation has changed for you or your family and you are unable to provide your expected family contribution, contact the Financial Aid Office about your special circumstances. Your file may be reevaluated. If you have unusual circumstances that would make you independent even though none of the independent criteria apply to you, contact your financial aid administrator.
Adjustments to your budget A financial aid counselor may adjust your budget to include items that are directly related to meeting your educational expenses such as:
- Childcare expenses for the student that are not covered by an outside person or agency.
- Extra costs related to a student's disability not covered by another agency.
- Commuting expenses for students who live outside Monmouth/Independence.
- Computer expenses (this can only be adjusted once while attending Western Oregon University).
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Do I have to claim my financial aid as taxable income?
In some cases, part of your financial aid may be considered taxable income. Contact the Internal Revenue Service,or your accountant for further information. You may also click here for more information on the Hope Scholarship Credit or Lifetime Learning Credit.
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What is a PIN?
A Personal Identification Number (PIN) is a code that you need to:
A PIN is similar to your PIN that you use at a bank. To protect the privacy of the information you are submitting, you must keep your PIN secret. If you need a PIN, have lost or forgotten your PIN, or if you think someone else knows your PIN, you can request a new one at www.pin.ed.gov.
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Are there grade requirements to receive financial aid?
YES. There are academic progress
requirements to receive financial
aid. You must maintain Satisfactory Academic Progress. A complete copy of the satisfactory academic progress policy was mailed in your initial financial aid offer in the Facts on Financial Aid booklet. You may obtain an additional copy of the policy at the Financial Aid Office or on our documents page.
As a financial
aid recipient, you are expected
to maintain satisfactory academic
progress and complete your degree
requirements or educational objectives
in a timely manner according to
institutional and office policies.
You must meet WOU's academic requirements
outlined in the Western Oregon University
catalog. Satisfactory Academic Progress
is monitored at the end of every
term and annually. The annual review
is performed each June after the
end of spring term. Summer session
is monitored separately. Summer
session credit hour requirements
are the same as for all other terms.
Letter grades
of F, W, N, I, X and AU do not apply
toward the satisfactory completion
of the credit hour minimums. You
may not use credits by exam (credits
earned by challenging an individual
course) or College Level Equivalency
Test (CLEP) credits to meet your
minimum credit requirements.
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Are there any other payment options at Western Oregon University?
The Business Office and cashiers
at Western Oregon University handle
fee payment. If you have any questions
about payment options, or other
issues regarding your account, contact
the business office at 503-838-8201.
Every WOU student
will sign a Revolving Charge Contract
with the Business Office. You may
defer payment of school charges
after applying your financial aid.
You will be charged $12 each
term to use the plan if anything
less than full payment of your account
is remitted. All charges that you
incur at WOU are covered under this
plan. These include tuition and
fees, housing and meals, library
fines, health service, parking fines,
etc. Past term debts must be paid
prior to release of current term
aid. All financial aid will be applied
to any amount due WOU for the current
term before any monies will be released
to you at the time you pay your
tuition. Any unpaid balance will
accrue interest (12% annually) until
paid.
If you do not
have enough financial aid or personal
resources to pay your first third
of your account balance during the
first week of the term,, you can
apply for a short-term deferment.
For emergency financial needs, you
can apply for an emergency loan.
For more information
about the Revolving Charge Program,
short-term deferment or emergency
loans, contact the Business Office
at 503-838-8201. For other emergency
financial needs, you may contact
the Vice President for Student Affairs
Office at 503-838-8221.
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When will I get my money?
If you have been awarded financial
aid for the regular academic
year
(fall, winter, spring terms),
your award is divided into equal
portions and disbursed to your WOU student account shortly before the start of each term if you meet the qualifications for disbursement. Financial
aid that is not available during
fee payment will be disbursed in
the Business Office later during
that term. Your aid must first pay
for your tuition and fees and other
institutional charges for the current
term before any excess funds will be released to you.
If there is remaining
aid a check will be prepared for
you. You must plan on budgeting
the remainder of your money so that
it will last through the term until
the next fee payment period. If you are unable
to pick up your financial aid refund in
person, the WOU Business
Office will mail you your refund if unclaimed for 2 days.
The funds from
Federal Direct Parent Loans for
Undergraduate Students (PLUS) will
be applied to your account upon
disbursement.
If the amount of the PLUS exceeds
the amount due, the Business Office
will prepare a refund to you or
your parent borrower based on an
authorized release signed by your
parent. If you have been awarded
Federal Work-Study, it is your responsibility
to obtain a work-study job in order
to earn the amount awarded. For
assistance with the availability
of job openings contact the Student
Employment Office located on the
third floor of the Administration
Building. Your paycheck is disbursed
at the end of the month from the
Payroll Office based on the number
of hours you worked during the pay
period.
All new student
employees must complete federal
I-9 verification with the Payroll
Office (Administration 305) within
the first three business days of
hire. The I-9 verification establishes
your identity and employment eligibility.
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Can I pay my school bills with a credit card?
WOU accepts only MasterCard and Echeck.
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I plan to get married in June. Can I file my FAFSA in January before I am married and update my marital status after my marriage?
No. Federal regulations do not allow
you to update your marital status
(from single to married) after you
have submitted your FAFSA. You must
list your current marital status
as of the day you complete the FAFSA.
You also cannot update your family
size or number in college (due to
your marriage) after you have submitted
your FAFSA.
Would it be better for me to file before or after I get married?
- That depends on your circumstances. If you file before you are married,
you must file according to the
dependency status questions on
the FAFSA that determine whether
you are independent or dependent
(need to provide your parents'
information) for financial aid
purposes. If you file your FAFSA
after you are married, you will
need to include information about
your spouse (even if you were
not married in the previous calendar
year).
Can I get an estimate of my expected family contribution?
- Yes. There is a calculator on
the Web that will provide you
with an estimated family contribution
based on the information you provide.
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Is my financial aid information secure and confidential?
Yes. Information contained
in financial aid applications (as
well as conversations with the student
and family) is considered confidential
and will not be released to the
public.
- No information
concerning the student's application,
award, eligibility, etc. (identifying
the student) will be made public
except as follows. Information
may be released:
- To specific
parties with the student's written
permission.
- To a university
office, the U.S. Department
of Education, educational loan
servicing centers, the Oregon
Student Assistance Commission
and other university or college
Financial Aid Offices, on a
need-to-know basis, without
the student's permission.
- To an auditor
designated to audit the Financial
Aid Office without the student's
permission.
- To any
other agency (e.g., the Justice
Department) without the student's
permission by court orders.
- For any
other allowable reason stated
in the Federal Family Educational
Rights and Privacy Act of 1974.
- Statistical
information that does not personally
identify the applicant(s) will
be released to any university
department, governmental agency
or other outside agencies that
have a valid need-to-know.
- To ensure
that information is not released
to the public before discussing
any information concerning a student's
application, awards, etc., the
person requesting the information
must provide positive identification.
- To ensure
that only authorized personnel
can access student aid applicant
data in the Financial Aid software
program (PowerFaids) and BANNER
Student Information System program,
a username and personalized password
is required to log on for both
programs. Student employees who
must have access to the computer
records are closely supervised
and can only access the system
with the assistance of an authorized
staff member.
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