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Types of Financial Aid

Following is a list of aid programs in which Wesley College participates and a brief explanation of each. Wesley College participates in federal and state financial aid programs. Wesley College also offers a limited number of institutional grants and scholarships for students who meet specific award criteria. Please note: Not all students will be eligible for all aid programs.

 

Federal Aid

Eligibility for Federal aid is restricted to U.S. citizens or eligible non-citizens with a valid Social Security Number. Applicants must have a high school diploma or a General Education Development [GED] Certificate, or have met other approved state standards for completing high school. Enrollment in an eligible program as a regular student seeking a degree or certificate is required and male students between the ages of 18-25 must register (or have registered) with the U.S. Selective Service. All applicants must have a valid FAFSA to be eligible.

Direct Parent Loan for Undergraduate Students (PLUS): Available for parents with dependents in college. This loan allows parents to borrow additional funding to pay for a dependent’s college costs not covered by other types of aid. Applicants apply for this loan through the Federal Direct Loan Program. Check for current interest rates.

Federal Direct Loan (Stafford): An interest-bearing loan available to eligible students that does not have to be repaid while the student is at least enrolled half-time (6 credit hours). Eligibility ranges from $5500 for freshman, $6500 for sophomores and $7500 for juniors/seniors each academic year. Independent students and students whose parents cannot obtain a PLUS loan are eligible for additional unsubsidized funding. Check for current interest rates.

Federal Supplemental Educational Opportunity Grant (FSEOG): Awarded to those students eligible for the Pell Grant only. FSEOG awards at Wesley College are limited to Federal funding. 

Federal Work Study (FWS): Allows students to work on and off campus earning a specific award amount over a semester or academic year (2 semesters). At Wesley, a student awarded FWS may have their earnings applied to any outstanding balance owed the College for tuition, room and board. 

Pell Grant: Eligibility for the Federal Pell Grant is determined by the U.S. Department of Education. Awards are made to undergraduate students only and range from $1176 to $5550 an academic year. Amounts are pro-rated for less than full time students.  

Perkins Loan: A loan available to eligible students that carries a 5% interest rate and does not have to be repaid while the student is enrolled at least half-time (6 credit hours). Federal funding for this type of loan is extremely limited at Wesley College. Awards are made by the Office of Student Financial Planning.

 

Institutional Aid

Wesley College institutional financial aid is funded directly by the College for a variety of programs for students meeting specific eligibility criteria for individual aid programs.

Admissions Scholarships and Grants: Awarded by the Office of Admissions to new students admitted to Wesley College. These scholarships carry specific cumulative grade point average requirements for subsequent renewal. 

Wesley Need Based Grant: Awarded to eligible students in conjunction with other institutional scholarships and grants who complete the appropriate year FAFSA and demonstrate financial need as determined by Wesley College.

Work-Ship Programs: Students not awarded Federal Work Study may be considered for this student work program funded directly by Wesley College.  These positions are limited and dependent upon available funding.  Students interested in the Work Ship program should complete an application on the Financial Aid page of the Wesley web site, www.wesley.edu.

 

Helpful Links:

Free Application for Federal Student Aid

www.fafsa.ed.gov

Student Loans

www.Studentloans.gov