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 determined solely by a family’s ability to contribute toward the cost of a student’s education. Students seeking need-based assistance must complete and submit the Free Application for Federal Student Aid (FAFSA) to Federal Student Aid programs and list The University of Virginia’s College at Wise (Title IV Code: 003747) as a recipient. To ensure timely processing, the FAFSA should be submitted electronically so that results are received by the priority deadline of February 15. Entering students must also be admitted by the applicable deadline. Students are encouraged to complete their FAFSA or renewal FAFSA online at www.fafsa.gov. All applications are reviewed based on financial need and without regard to sex, color, religion, age, or national origin.
Federal Programs
The Federal Pell Grant Program is the largest federal entitlement program for undergraduate students. Eligibility is determined based on the Student Aid Index (SAI) calculated from the Free Application for Federal Student Aid (FAFSA). Awards may be pro-rated for students enrolled less than full-time. Students must complete the FAFSA to be considered. Final award amounts are determined by the Office of Financial Aid in accordance with federal guidelines.
The Federal Supplemental Educational Opportunity Grant (FSEOG) is a federal campus-based program administered by participating institutions. At UVA Wise, awards may vary depending on funding availability. Priority is given to students with the greatest financial need who are also eligible for the Federal Pell Grant. Students are considered by completing the FAFSA.
The Federal Direct Parent Loan for Undergraduate Students (PLUS) enables parents of dependent undergraduate students to borrow funds to help cover educational expenses not met by other financial aid. Eligibility is based on credit approval. The maximum loan amount at UVA Wise is $16,250 per academic year. Interest rates are fixed, and repayment typically begins within 60 days after the final disbursement. Parents must complete a PLUS Loan application and a Master Promissory Note. Additional details are provided in the student’s Financial Aid Award Notification.
The Federal Direct Student Loan Program (Subsidized) provides need-based, low-interest loans to eligible undergraduate students. The federal government pays the interest while the student is enrolled at least half-time. Annual borrowing limits are $3,500 for first-year students, $4,500 for second-year students, and $5,500 for third- and fourth-year students. Interest rates are fixed for the life of each loan. Students must complete the FAFSA to determine eligibility. Borrowers must be enrolled at least half-time (six credit hours), maintain satisfactory academic progress, and be U.S. citizens or eligible noncitizens. First-time borrowers are required to complete entrance counseling and a Master Promissory Note.
The Federal Direct Student Loan Program (Unsubsidized) is available to undergraduate students regardless of financial need. Interest begins accruing at the time of disbursement. Annual loan limits are $5,500 for first-year students, $6,500 for second-year students, and $7,500 for third- and fourth-year students. Interest rates are fixed and determined annually based on federal guidelines tied to the 10-year Treasury note. Students must complete the FAFSA and meet all general eligibility requirements, including enrollment of at least half-time and satisfactory academic progress. First-time borrowers must complete entrance counseling and a Master Promissory Note.
Independent students, as well as dependent students whose parents are denied a PLUS Loan due to adverse credit, may be eligible for additional Federal Direct Unsubsidized Loan funds. First- and second-year students may borrow up to an additional $4,000 per year, while third- and fourth-year students may borrow up to an additional $5,000 per year beyond standard annual limits. Completion of the FAFSA is required for consideration.
Financial Aid Refund
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 steps should be followed when applying for financial assistance at UVA Wise:
- If applicable, apply for admission to UVA Wise.
- Complete and submit the Free Application for Federal Student Aid (FAFSA) as soon as possible after October 1 (for fall enrollment). To be considered for the maximum amount of available aid, submit by March 1 for the fall semester and November 1 for the spring semester. (Funding may be limited for spring entrants.)
- When completing the FAFSA, list The University of Virginia’s College at Wise using Title IV School Code 003747.
- Retain copies of all submitted materials, including your FAFSA, tax returns, and financial aid award notifications.
- Respond promptly to any requests from the Office of Financial Aid.
- Submit all applicable scholarship applications by their respective deadlines.
- Contact the Office of Financial Aid if assistance is needed at any point.
Satisfactory Academic Progress (SAP)
Federal regulations require institutions of higher education to establish minimum standards of Satisfactory Academic Progress (SAP) for financial aid recipients. Students must comply with SAP requirements to maintain eligibility. Academic progress is reviewed at the end of each academic year.
Financial aid includes: Federal Pell Grants, FSEOG, institutional grants and scholarships, CSAP, Federal Work-Study, TEACH Grant, Federal Direct Loans, and PLUS Loans.
SAP is measured by:
- Cumulative GPA
- Completion rate (67% of attempted credits)
- Maximum timeframe
Undergraduate Standards:
- Minimum completion rate: 67%
- GPA requirements:
- <30 credits: 1.75
- 30-59.5 credits: 1.85
- 60+ credits: 2.0
- Maximum timeframe: 180 attempted credits
Graduate Standards:
- Minimum GPA: 3.0
- Completion rate: 67%
- Maximum timeframe: 150% of program (45 credits max)
Additional provisions:
- Remedial coursework counts toward attempted/completed hours
- Part-time enrollment is evaluated proportionally
Appeals:
Students may appeal loss of aid eligibility due to documented extenuating circumstances.
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 ensure 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
Federal Work-Study Program
The Federal Work-Study Program (FWS) is funded jointly by the federal government and the College and provides eligible students the opportunity to earn money to help cover educational expenses. Work opportunities are available across a wide range of campus departments.
Students are hired based on their qualifications and the availability of positions. Eligible students may earn up to $3,000 per academic year, depending on their award and hours worked.
To qualify, students must be admitted to or enrolled at least half-time; demonstrate financial need; maintain satisfactory academic progress; and be a U.S. citizen or eligible permanent resident.
The Office of Financial Aid determines eligibility, coordinates placements, and assists with payroll. All positions comply with minimum wage laws. 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 Grants
Virginia Commonwealth Award A need-based grant for Virginia residents. Students must:
· Complete FAFSA or VASA
· Be degree-seeking
· Enroll at least half-time
· Demonstrate financial need
· Maintain SAP
· Be a Virginia resident
Virginia Guaranteed Assistance Program (VGAP) Students must:
· Complete FAFSA/VASA
· Be full-time (12 credits)
· Graduate from a Virginia high school
· Have 2.5 HS GPA and maintain 2.0 college GPA
· Maintain SAP and financial need
Renewal Requirements:
· Continuous full-time enrollment
· Maintain residency, GPA, SAP, and class progression
Two-Year College Transfer Grant
· Base + STEM bonus + Incentive awards available
· Must transfer from VA community college with 3.0 GPA
· Full-time enrollment required
· FAFSA/VASA required
· Maintain SAP and 3.0 GPA
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