UVA Wise is committed to offering a quality education at an affordable cost. Financial aid is available from many sources to supplement the contributions students and their families make. The Office of Financial Aid helps students and their families explore the various sources of financial assistance.
Financial aid is divided into two major categories:
- SCHOLARSHIPS are given to honor outstanding achievement. Freshman and transfer students will automatically be considered for scholarships through the General Scholarship Program based on academic information furnished by the Office of Admissions. Freshmen must be admitted by February 1 prior to the applicable fall semester of entry. Transfer students must be admitted to the College by April 1 prior to the applicable fall semester of entry and December 5 prior to the applicable spring semester of entry (spring scholarships will be made based upon available funds). Returning students who received scholarships as entering students will automatically have their scholarships renewed if minimum academic standards are met. Returning students who did not receive a scholarship upon entering the College will be evaluated based on academic information furnished by the Registrar’s Office and will typically need a 3.0 or greater GPA to be eligible for a scholarship through the General Scholarship Program. Scholarships not associated with the General Scholarship program require a separate application which can be obtained at the College Financial Aid website.
- NEED-BASED AID is based solely upon the family’s ability to provide financial support for the cost of education. A student applying for need-based aid is required to submit the Free Application for Federal Student Aid (FAFSA) to Federal Student Aid Programs and designate The University of Virginia’s College at Wise, Title IV Code Number 003747, as a recipient of the need analysis report. The FAFSA should be submitted electronically so results can be received by the priority financial aid date of February 15. Entering students must also be admitted by the applicable date. Students should submit their FAFSA or renewal FAFSA electronically at www.fafsa.gov. Applications are considered on the basis of need, without regard to sex, color, religion, age, or national origin.
Emergency Funds
The Fred Culbertson Emergency Fund was established in 1995 by the family of Fred Culbertson to assist students in seeking a degree at UVA Wise. The Fund is designed to assist students who encounter unplanned expenses or other emergency needs. Written requests are to be submitted to the Office of Financial Aid and are reviewed on a case-by-case basis.
The Future Fund was established in 2007 by the Office of Development as a Senior Class Annual Giving program. The Fund is designed to assist students who encounter unplanned expenses or other emergency needs. Written requests are to be submitted to the Office of Financial Aid and are reviewed on a case-by-case basis.
Federal Programs
The Federal Pell Grant Program is the largest federal entitlement program for undergraduate students. Awards are based upon the EFC calculations from your FAFSA. Awards can also be pro-rated for part time study. Students apply for the Federal Pell Grant by completing the Free Application for Federal Student Aid (FAFSA). It is, however, up to the Office of Financial Aid to determine the amount of the award.
The Federal Supplemental Educational Opportunity Grant (FSEOG) is a federal entitlement program administered by individual colleges and universities. SEOG awards range up to $4,000 per year at UVA Wise. SEOG funds are limited and must first be awarded to students with the greatest amount of need who are eligible to receive Federal Pell Grants. Students apply for FSEOG by completing the FAFSA.
The Federal Parents Loan for Undergraduate Students (PLUS) is available to parents with a good credit history to supplement other financial aid sources and the amount they can afford to pay from available income for their students. This loan has a fixed interest rate and repayment typically starts 60 days after full disbursement. The amount that can be borrowed varies and is based on the cost of education at UVA Wise minus other sources of aid awarded. The College participates in the Federal Direct Loan Program. The amounts and information about the applications process will be provided to students and parents on the student’s Financial Aid Award Notification. First-time parent borrowers must also complete a Master Promissory Note.
The Federal Stafford Student Loan Program (Subsidized) is a federally authorized program designed to help students meet college expenses. Federal Stafford Loans are long term, low interest loans available to undergraduate students. Undergraduates may borrow up to $3,500 during their freshman year, $4,500 during the sophomore year, and $5,500 during the junior and senior years. Interest rates are fixed at the time of application. Students are not charged for interest until repayment begins. The amounts and information about the loan application process will be provided to students on their Financial Aid Award Notification. All applicants must complete the Free Application for Federal Student Aid (FAFSA) to determine eligibility for this loan. All borrowers must be accepted for enrollment and be enrolled for at least six credit hours and making satisfactory academic progress. Borrowers must also be United States citizens or permanent residents. First-time borrowers must also complete an entrance interview and Master Promissory Note.
The Federal Stafford Student Loan Program (Unsubsidized) was authorized by the Higher Education Amendments of 1992 and provides loans to middle-income borrowers who do not qualify, in whole or part, for federal interest subsidies under the Federal Stafford Loan (subsidized) program. Undergraduates may borrow up to $5,500 during their freshman year, $6,500 during the sophomore year, and $7,500 during the junior and senior years. On August 9, 2013 President Obama signed the Bipartisan Student Loan Certainty Act of 2013 (P.L. 113-28), changing how student loan interest rates are determined. The bill links interest rates on new federal education loans made on or after July 1, 2013 to the 10-year Treasury rate, plus a fixed margin. The interest rates on new loans are still fixed for the life of the loan; however, each year’s new loans will have different fixed rates, based on current market rates. The amounts and information about the loan application process will be provided to students on their Financial Aid Award Notification. All applicants must complete the Free Application for Federal Student Aid (FAFSA) to determine eligibility for this loan. All borrowers must be accepted for enrollment and be enrolled for at least six (6) credit hours and making satisfactory academic progress. Borrowers must also be United States citizens or permanent residents. First-time borrowers must also complete an entrance interview and Master Promissory Note. Effective July 1, 1994 the Federal Supplemental Loan for Students (FSLS) was repealed and shifted to the Federal Unsubsidized Stafford Loan Program. To qualify, the borrower must be an independent student. Also, dependent students whose parents have been denied access to the Federal Plus Loan due to adverse credit are eligible. Undergraduates who are at freshman and sophomore status may be eligible to borrow up to $4,000 in addition to the existing subsidized and unsubsidized limits. Undergraduates who are at the junior and senior status may be eligible to borrow up to $5,000 in addition to the existing subsidized and unsubsidized limits. Applicants must also complete a Free Application for Federal Student Aid (FAFSA) for this consideration.
Financial Aid Payout
Financial Aid awarded by the College is applied to tuition and fees and room and board charges first. Students should be prepared to have sufficient funds to attend school for at least one month before financial aid is released. Students should not expect the College to defer payment of tuition, fees, and room and board charges in order for the student to meet off-campus living expenses or to purchase books and supplies.
Financial Aid Procedures
The following procedures should be followed in making application for financial assistance at UVA Wise:
- If applicable, apply for admission to UVA Wise.
- Complete and file the Free Application for Federal Student Aid (FAFSA) as soon after October 1 as possible (for fall enrollment). To be considered for the greatest number of financial aid options available, you should file electronically by March 1 for the fall semester and November 1 for the spring semester. (Funds may be limited for students entering in the spring.)
- On the FAFSA, you should request that a copy of the results be sent to UVA Wise, One College Avenue, Wise, VA, 24293. The Title IV Code Number is 003747.
- Keep copies of your FAFSA, tax returns, award letter, etc.
- Reply promptly to any correspondence or request for information regarding financial aid.
- Submit any applicable scholarship forms by the appropriate dates.
- Contact the Office of Financial Aid at UVA Wise for assistance.
Satisfactory Academic Progress Requirements
On behalf of the College, the Office of Financial Aid reserves the right to review and cancel an award at any time because of changes in financial or academic status, change of academic program, or failure to meet the satisfactory academic progress standards. The satisfactory progress standards require that students receiving financial aid maintain minimum quantitative (credit hours) and qualitative (Grade Point Average) standards. Financial aid is defined as: Federal Pell Grants, Federal Supplemental Educational Opportunity Grants, Federal Work Study employment, Federal Stafford Loans, Federal PLUS loans state grants, and internal institutional scholarships.
The minimum standards are listed below:
- Quantitative Standards: 75% of all courses/credit hours attempted must achieve a passing grade. A student must successfully complete (earn a passing grade) in at least 75 percent of the courses/credit hours attempted (reviewed annually).
- Qualitative (GPA): 0-29 hours -1.75 cumulative GPA: 30-59 hours 1.85 cumulative GPA: 60 hours and up 2.0 cumulative GPA.
In addition to the quantitative and qualitative measures listed above, students can receive financial aid for an undergraduate program not to exceed 150% of the applicable program’s length. For example, if a program’s length is 120 credit hours, the maximum credit hours that a student may receive aid is 180 (120 x 1.5) attempted credit hours.
All periods of enrollment, even those in which a student did not receive Federal Student Aid funds, will be included when determining if a student has met Satisfactory Academic Progress standards. Credit hours transferred from another school will be counted in the quantitative measure when determining if a student has met Satisfactory Progress Standards.
When a student repeats a course, the most recent grade is used in the qualitative calculation. For example, if a student originally received a grade of “D” and repeated the course, receiving a grade of “C”, the most recent grade (C) would be used in the qualitative calculation. A student may only repeat a course one time to count toward meeting SAP. Regarding the quantitative measure under this same scenario, credit hours for both the original course and the repeat will be included for SAP standards.
Progress Toward Graduation
Students requiring financial assistance beyond 10 semesters must be reviewed by the Financial Aid Committee to assess progress toward meeting specified graduation requirements. For the purpose of assessing satisfactory progress, credit hours completed in remedial classes are counted as hours attempted and completed. When the standards listed above have not been met, financial aid will be withdrawn until the minimums are met. Credit hours completed in summer sessions at UVA Wise and transferrable courses pre-approved by the Office of Financial Aid and taken at other institutions can be used to make up deficiencies.
Students entering for the first time or re-entering the College in the spring semester will have grades checked upon completion of that semester. Students failing to meet minimal academic progress requirements will not be considered as having met the College’s financial aid priority date. Therefore; if reinstated, access to need-based financial aid as detailed above will be awarded subject to fund availability.
Request for Appeal
A student may request that the Financial Aid Committee grant an exception to the minimum standards by completing an online application. With that request, the student must submit the reason for the appeal and a plan for meeting the minimum standards listed above. Otherwise, financial aid can be reinstated when a student has removed a deficiency. It is the responsibility of the student to notify the Office of Financial Aid when deficiencies have been removed. The student’s progress will be monitored at the end of each academic year and a determination about the student’s eligibility for further aid will be made in June for the summer and/or fall semester, allowing the student to make up credit hours during a summer session. Students who choose to appeal rather than take classes to self-correct will only receive Pell and loans.
Veterans Benefits
The Office of Financial Aid is the College’s liaison with the Veterans Administration in matters concerning educational benefits provided under federal law. This office can assist Veterans and their dependents with applying and identifying programs to assist with educational costs.
Applications for veterans’ educational benefits should be filed with the Veterans Administration at least three months before enrollment at UVA Wise to insure that funds can be approved in a timely fashion. If needed, the Office of Financial Aid can assist the applicant in completing the appropriate forms, or the veteran may apply directly to the Veterans Administration. Questions about benefits or application procedures should be directed to the Office of Financial Aid.
The Office of the Registrar’s designee is the official certifying agent for Veterans Benefits. In accordance with the federal mandate 38 USC 3679(e), any covered individual who attends or participates in courses during the period beginning on the date on which the individual provides to the educational institution a certificate of eligibility for entitlement to educational assistance. Under chapter 31 or 33 a “certificate of eligibility” can also include a “Statement of Benefits” obtained from the Department of Veterans Affairs (VA) website - eBenefits, or VAF 28-1905 form for Chapter 31 authorization purposes) and ending on the earlier of the following dates:
- The date on which payment from VA is made to the institution.
- 90 days after the date the institution certified tuition and fees following the receipt of the certificate of eligibility.
The College shall not impose any penalty, including the assessment of late fees, the denial of access to classes, libraries, or other institutional facilities, or the requirement that a covered individual because of the individual’s inability to meet his or her financial obligations to the institution due to the delayed disbursement funding from VA under chapter 31 or 33.
Work Study
The Federal Work Study Program (FWSP) is funded by the College and the federal government for students who qualify and wish to earn part of their college expense money. Work opportunities are available in almost every department on campus. Eligible students are employed based on qualifications and the availability of openings. Yearly work study earnings range from $500 to $3,000. To qualify, students must be accepted for enrollment or be enrolled at least half-time; be, in the opinion of the College, capable of meeting satisfactory academic progress requirements while employed; show need based on the Federal Need Analysis Formula; and be a citizen or permanent resident of the United States. The Office of Financial Aid determines qualifications, assigns jobs and assists students as needed with the payroll process. Work Study wages will meet the minimum wage law. Federal Work-Study positions are limited.
Withdrawals and Return to Title IV
Students who withdraw from the College, or who fail to pass any of the classes for which they received aid, may have their financial aid adjusted based on the percentage of the semester completed prior to withdrawing. This process, called Return to Title IV, determines the amount of Federal Title IV funds a student who withdraws has earned. For this process, Title IV Funds include the following: Federal Stafford Loans, Parent PLUS Loans, Federal Pell Grant, Federal SEOG Grant, and Federal Teach Grant.
The Office of Financial Aid uses a form developed by the Department of Education to determine the amount of Title IV aid a student has earned by factoring in the percentage of the semester completed, institutional charges, and types of Title IV aid received. Any unearned portion of Title IV aid must be returned to the federal government by the College and/or student (if applicable). The Return to Title IV process listed above is separate from the Institutional Refund Policy regarding tuition, fee, room and meal charges. The specifics of this policy can be found in the College Catalog, or on-line at the Cashier’s Office website.
Scholarship Policy
Students who receive the Chancellor’s Scholarship are required to maintain a 3.0 and pass 30 hours each year. All other scholarships are renewable for a total of four years provided that recipients maintain at least a 2.75 cumulative grade point average and earn at least 26 credit hours by the completion of the spring semester (including the previous fall) after their first year. After each subsequent academic year, students must maintain at least a 3.0 cumulative grade point average as well as earn at least 26 credit hours by the completion of each spring semester. Scholarships are awarded for up to a four-year period. Students must also maintain good social standing, write letters of thanks to applicable donors and, if invited, attend the annual scholarship luncheon. Based upon available funding at the time the renewal award is made, the source for each award is subject to change from year to year. Any student receiving an academic scholarship award who does not maintain continuous enrollment at UVA Wise must notify the Office of Financial Aid upon acceptance for readmission.
To resume an academic award upon readmittance, the student must have been eligible for continuation at the time enrollment ceased. If the student has not attended any other institution since enrollment at UVA Wise, the scholarship award may be continued depending on available funding, but the amount of the award may not be equal to the original award. If the student has attended any institutions other than UVA Wise, all transfer work will be evaluated and the student’s combined grade point average must be equal to or greater than the grade point average the student possessed at the time of “stopping out,” and must be at least 3.0 on a 4.0 scale.
Any student receiving an academic scholarship award who does not comply with the aforementioned renewal criteria will have the scholarship award withdrawn. Credit hours and GPA deficiencies can be corrected during the summer with prior approval by the Office of Financial Aid. It is the responsibility of the student to notify the Office of Financial Aid once a deficiency has been corrected. If the student corrects the grade deficiency and once again meets academic standards for the award, it will be reinstated at the previous level contingent upon available funds. Should the student receive an award, the amount and name of the award may not be the same as the original award.
State Funded Scholarships
The Virginia Student Financial Assistance Program is a need-based scholarship program for qualified Virginia residents. It is designed to assist students demonstrating financial need by providing for a portion of their college costs. State statute requires that awards be proportional to need, so that students with the greatest need receive the largest awards. In order to maintain eligibility, students must demonstrate a 2.0 or greater grade point average after completing 60 credit hours. Students may receive assistance for up to 135 credit hours, including any transfer hours accepted. The program has two components:
- The Commonwealth Scholars Grant (COMMA) is available to Virginia residents with demonstrated financial need. Students must also be registered at least half-time (six hours). These awards range from $2,000 to annual tuition and one-half required fees.
- The Virginia Guaranteed Assistance Program (VGAP) is available to Virginia residents who are entering freshmen. The student must be full-time (12 hours) complete 30 hours each year and have graduated from a Virginia high school with a grade point average of 2.5 or greater. The VGAP award ranges from $1,000 up to annual tuition and fees.
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