GAPS Financial Aid
Matthew Stokan (left), Director of Financial Aid
Tuition Costs (Effective Fall 2010):
Graduate - $540 per credit
Undergraduate - $500 per credit
Financial Aid: Financial Aid is available for students who enroll at least half-time (six credits per semester). This includes eligibility for student Direct Loans. If you have questions regarding financial aid, please contact the Financial Aid Office at 724-852-3208 or at finaid@waynesburg.edu.
Applying for Financial Aid: Students must complete the 2010-2011 Free Application for Federal Student Aid (FAFSA) to determine financial aid eligibility. This form can be completed at www.fafsa.ed.gov. In addition to this, if the student wants to borrow student loans, he/she must complete a Direct Loan Loan Entrance Interview, a Direct Loan Master Promissory Note (MPN) and the appropriate Financial Aid Application. See the links below to complete.
DIRECT LOANS FOR STUDENTS
Waynesburg University will participate in the William D. Ford Federal Direct Loan (Direct Loan) Program beginning with the Fall 2010 semester. Students who previously received loan funds through the Federal Family Education Loan (FFEL) Program will now have to borrow through the Direct Loan Program. This change in the student loan process was legislated by the federal government and becomes mandatory for all schools beginning July 1, 2010.
The Direct Loan Program offers the same types of loans as the FFEL Program with generally the same terms and conditions but, instead of a bank lending the money , the United States Department of Education (USDE) lends the money directly to students through the school. There are also some differences in the names of the loans. The FFEL Program's Federal Stafford Loans (subsidized and unsubsidized) are called Direct Subsidized Loans and Direct Unsubsidized Loans.
To assist student in the Direct Loan process, the federal government has set up the web site StudentLoans.gov as the portal for students to manage their Direct Loans. Borrowers can use this web site to:
1. Complete their Direct Loan Entrance Counseling.
2. Complete their Direct Loan Master Promissory Note (MPN).
3. View correspondence regarding their Direct Loans.
4. Complete their Direct Loan Exit Counseling.
FIRST-TIME DIRECT LOAN BORROWERS MUST COMPLETE A DIRECT LOAN MPN!
If you have not previously received a Direct Loan, you MUST complete a Direct Loan Master Promissory Note (MPN) at https://studentloans.gov. Although you may have previously signed a MPN to receive Stafford Loans in the past, a Stafford Loan MPN CANNOT be used to process a Direct Loan. ALL NEW DIRECT LOAN BORROWERS MUST COMPLETE A DIRECT LOAN MPN!
The MPN is the legal document through which you promise to repay your loans and any accrued interest and fees to the USDE. It also explains the terms and conditions of your student loan. If you have not done one and you want to borrow a student loan, please complete one immediately at https://studentloans.gov.
FIRST-TIME LOAN BORROWERS MUST ALSO COMPLETE ENTRANCE LOAN COUNSELING!
If you are an undergraduate or graduate/professional student and have not previously received a Stafford or Direct Loan, you must complete Direct Loan Entrance Counseling before you can receive a Direct Loan. Like the Direct Loan MPN, the Entrance Counseling should be completed at https://studentloans.gov.
QUESTIONS/PROBLEMS WITH YOUR DIRECT LOAN?
For additional information about Direct Loans, visit http://www.direct.ed.gov or https://studentloans.gov. If you have any questions or problems with completing your Direct Loan Entrance Counseling or your Direct Loan MPN, please contact the Financial Aid Office at 724-852-3208 or finaid@waynesburg.edu
Financial Aid Links:
Direct Loan Entrance Counseling
Direct Loan Application/Master Promissory Note (MPN)
University Aid Forms:
2010-2011 GAPS Financial Aid Application
Federal Verification Worksheet:
Independent Verification Worksheet
Verification Process
The United States Department of Education (USDE) and Waynesburg University reserve the right to select your Free Application for Federal Student Aid (FAFSA) for a review process referred to as "verification." If your application is selected, you are required to submit to the Financial Aid Department certain information: signed copies of the student's and, if dependent, the parents' previous year's federal tax return with all schedules attached; documentation of untaxed income or benefits; and a competed federal Verification Worksheet. If your application is selected for verification, you will be notified by Financial Aid Department via either your Financial Aid Award Letter or a Document Tracking Letter of the required documents necessary to complete the process. The University is required to complete this process prior to certifying student loans or disbursing aid funds to a student's account. Failure to complete the verification process within fourteen days of the initial request may result in the cancellation of aid and the termination of enrollment. If corrections are necessary, we will make them electronically on the student's FAFSA once we have completed the verification process. The student will then receive a revision from the federal processor. If an overpayment is due, we will notify the student of the steps necessary to complete this process.