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Contact Us:  

Office of Financial Aid
3400 N Wesleyan Blvd
Rocky Mount, NC 27804

Fax: (252) 985-5295
Phone:
(252) 985-5200

Toll Free: (800) 488-6292

(NCWC's FAFSA Title Code: 002951)

QUESTIONS AND ANSWERS ABOUT PAYING TUITION AND FINANCIAL AID

When is my tuition due?

Your tuition is due at the time of registration. In order to complete the registration process, you must present payment of the full tuition using one of the payment methods listed below.

What payment methods are available?

You may pay your tuition and other fees and buy textbooks with a credit card (Visa, MasterCard, Discover, and American Express are accepted), personal check, money order, or cashier’s check. Cash is not accepted at NC Wesleyan Offices. If you are planning to use financial aid as a means of paying your tuition you need to submit the Free Application for Federal Student Aid (FAFSA) form for processing. This should be done at least eight to ten weeks before you plan to use financial aid so that your financial aid file will be complete at the time of registration. It is recommended that you complete the application as early as possible in order to ensure that you will have financial aid when classes begin. The easiest and quickest way to file your FAFSA form is by going to www.fafsa.ed.gov  and completing your application on-line.

What are the general eligibility requirements for financial aid?

You must be a US citizen or an eligible non-citizen, be officially accepted as a degree seeking student at NC Wesleyan College, maintain satisfactory academic progress in a major course of study, not be in default on an educational loan or owe a refund on a grant received for attendance at any post-secondary institution and have a FAFSA on file. To be fully accepted as a Wesleyan student, the college must have received and evaluated all transcripts from other institutions you have attended.

Whom do I contact at NC Wesleyan about financial aid?

You should contact the Financial Aid Office on campus at 1-800-488-6292 or (252) 985-5200. The Financial Aid Office staff will be able to give you detailed information about the financial aid options available to you.

Do I have to apply for financial aid each academic year?

Yes. After the first year for which you submitted a FAFSA, you will be sent a Renewal Free Application for Federal Student Aid (Renewal FAFSA) by the federal government. You should receive the Renewal FAFSA between the end of December and the end of January. Review the information on the Renewal FAFSA for accuracy, making any necessary changes, and mail the application to the processing center in the envelope provided. If you do not receive the Renewal FAFSA you should complete a new FAFSA application, which you can get from the Financial Aid Office. For the North Carolina Legislative Tuition Grant you must complete a new application each year. Applications will be sent to you along with your financial aid award letter.

What is North Carolina Wesleyan’s Title IV college code for the FAFSA?

NCWC’s code used on the FAFSA is 002951.

Am I eligible for Federal Pell Grants?

This federal entitlement grant program is awarded to eligible students who have not already earned a bachelor’s degree and who have demonstrated substantial need. Awards range from $400 to $5000 per academic year. The amount of the grant is determined by the Student Aid Report that is generated by the US Department of Education with the information you supply on your FAFSA application. How much you are awarded depends not only on your financial need but also on your cost of attending college, whether or not you are a full-time or part-time student, and whether or not you attend for a full academic year or less. The Pell Grant may be awarded for as few as three semester hours of credit.

May I use Veterans Administration Benefits at NC Wesleyan?

Yes. You should contact your local VA office at 1-800-827-1000 to get information about eligibility requirements and procedures. The campus contact in regard to Veterans Administration issues, except Goldsboro students, is the Registrar’s Office at (252) 985-5123. Goldsboro students should contact the NC Wesleyan site director at (919) 736-2312.

What is the North Carolina Legislative Tuition Grant (NCLTG)?

This state grant program was created to provide tuition assistance (regardless of need) to full-time undergraduate students who are legal residents of North Carolina and are attending an eligible private college in the state. Presently, the grant provides $950 per semester. Funding levels are determined each year by the state of North Carolina. NCLTG is not available for the summer semester. Funds will be credited to eligible students’ accounts by the end of the semesters in which 9 credit hours are completed. Although you do not need to complete a FAFSA in order to be eligible for the NCLTG the state of North Carolina does require each recipient to complete an NCLTG application. The application must be completed and returned to the Financial Aid Office prior to the beginning of the Fall and Spring semesters in order to be eligible for the grant. Applications will be included in eligible students award packets.

What loan programs might I be eligible for?

· Federal Subsidized Stafford Loan Program: Banks, savings and loans, and credit unions provide long-term loans guaranteed by the federal government to students demonstrating financial need and who are enrolled at least halftime (six semester hours) at the beginning of the semester. Freshmen (students who have earned 0-23 credits) can borrow up to $3500 per year; sophomores (students who have earned 24-47 credits) up to $5500 per year; juniors and seniors (students who have earned 47+ credits) up to $5500 per year. The interest rate is variable but capped at 8.25%. Repayment and accrual of interest begin six months after the student ceases to be enrolled at least halftime (six semester hours per semester).

· Federal Unsubsidized Stafford Loan Program: Conditions of the loan are the same as those for the Federal Subsidized Stafford Loan except that students are responsible for interest during in-school and deferment periods. This loan program is available to students regardless of financial need. Annual loan limits are $4000 for freshmen and sophomores and $5000 for juniors and seniors. The interest rate is variable but capped at 8.25%. You must be enrolled in a minimum of six hours of credit to be eligible for the loan. Dependent students must have a parent with a denied Parent Plus loan before being eligible for this loan.

Are there any fees in the student loan program?

Yes. All Federal Stafford Loan programs are subject to a 3% origination fee. These fees are deducted from the amount of the loan at the time of disbursement by the lender. This means that the amount received by the school is the amount of loan borrowed less 3% in fees. Loan fees are assessed by the lender, not by North Carolina Wesleyan College.

Are there any stipulations in using the federal loan program I should be aware of?

Yes. You must meet enrollment eligibility requirements at the beginning of each semester. For part-time students, this is six semester hours of credit for disbursement of student loan funds. For this reason, NCWC is required to return your loan funds if you do not meet enrollment requirements.

If you initially enroll for six semester hours at the beginning of a semester and then drop one or more credits, you will not meet eligibility requirements. NCWC will be required to return the total amount of the loan to the lender and you will be responsible to the College for the tuition amount.

I am returning for a second bachelor’s degree, what financial aid am I eligible for?

Because you already hold a Bachelor’s Degree you would only be eligible for Federal Stafford Loans. This is a Federal and State regulation.

If I pursue a second undergraduate major or dual degree, can I get an extension on the time frame for repaying education loans from my first degree?

Student’s enrolled in a second degree program may request an extension on the time frame for repaying loans. For details, contact your lender or the NCWC Financial Aid Office.

What are the steps for securing financial aid as a Wesleyan student?

1. You must be fully accepted as a degree-seeking Wesleyan student.

2. Complete a Free Application for Federal Student Aid (FAFSA) as soon after you decide to attend college as possible. You must complete this application every year in which you plan to receive federal funds. Applications are available at the NCWC Financial Aid Office or online at http://www.fafsa.ed.gov.

3. Within six to eight weeks after filing your FAFSA, you and the college will receive a Student Aid Report (SAR) based on the information you reported on your FAFSA. Review the SAR carefully for possible errors. If corrections are needed, notify the Financial Aid Office, which will be able to process the corrections electronically.

4. The Financial Aid Office will determine if additional forms are required, such as a verification worksheet or federal income taxes.

5. Once all requested documentation has been received the Financial Aid Office will determine your financial need and eligibility. If you are eligible for financial aid, you will be sent a financial aid award package. The financial aid award package will indicate grants you have been awarded and specify your eligibility for student loans.

6. Return any required forms/documents to the Financial Aid Office. Financial aid will not be credited to your account until you have returned your forms/documents and your financial aid file is complete.

7. Make sure you keep copies of all financial aid documents you receive.

 


Last modified by webmaster@ncwc.edu on 04/18/08
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