NCWC : Adult Degree Programs Financial Aid

(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 ADP 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 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.

What are the general eligibility requirements for financial aid?

You must be a US citizen or permanent resident; 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 the other institutions you have attended.

What financial aid is available to me as a student in the ADP (Adult Degree) program?

For all financial aid programs, with the exception of the North Carolina Legislative Tuition Grant, you must submit the FAFSA form in order to establish eligibility. The FAFSA should be submitted eight to ten weeks prior to registration for classes. Adult Degree Program students are eligible for various financial aid programs that are generally divided into grant and loan programs. Grants are financial assistance that does not have to be repaid. The student loan programs provide long-term, low interest loans that must be repaid by the borrower. Only students who have not previously received a bachelor's degree are eligible for financial assistance in the Adult Degree Program. Each of the financial aid programs is governed by its own set of regulations that are established by either the federal or state government. The college is required to enforce the regulations as written by the respective government agency.

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) 985-5290. 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 by the federal government a Renewal Free Application for Federal Student Aid (Renewal FAFSA) which you should receive sometime between early December and early January. Review the information on the Renewal FAFSA for currency and accuracy. If you do not receive the Renewal FAFSA, you should apply by completing a new FAFSA. For the federal student loan programs and for the North Carolina Legislative Tuition Grant, you must complete a new application each year. Applications will be forwarded to you upon receipt of your processed Renewal FAFSA.

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

NCWC's code used on the FAFSA is 002951.

May I use Veterans Administration benefits at NC Wesleyan?

Yes. You should contact your local VA office 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 (252) 985-5123. Goldsboro students should contact the NC Wesleyan site director (919) 736-2312.

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 $3000 per academic year. The amount of the grant is determined by the Student Aid Report that is generated by the US Department of Education. 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 fur a full academic year or less. The Pell Grant may be awarded for as few as three semester hours of credit.

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

This state grant program was created to provide tuition assistance (regardless of need) to a full-time undergraduate student who is a legal North Carolina resident attending an eligible private college in the state. Presently, the grant provides $725 per semester. Funding levels are determined each year. NCLTG is not available for the summer semester. Because you must complete at least 12 semester hours of course work in the semester to be eligible for the NCLTG, you will need to pay your tuition at the time of registration and indicate the courses you plan to take during the semester. The NCLTG will be credited to your account by the end of the semester that you have completed 12 semester hours of course work. You do not need to complete a FAFSA for the NCLTG, but the State of North Carolina requires a separate 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 NCLTG.

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 half-time (six semester hours) at the beginning of the semester. Freshman can borrow up to $2,625 per year; sophomores up to $3,500 per year; and juniors and seniors up to $5,500 per year. The interest rate is variable but capped at 8.25 percent. Repayment and accrual of interest begin six months after the student ceases to be at least half-time (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 the first and second years of undergraduate study; and $5000 for the third and fourth years of undergraduate study. The interest rate is variable but capped at 8.25 percent. You must take a minimum of six hours of credit at the beginning of each semester to be eligible for the loan.

Are there any fees in the student loan programs?

Yes. All Federal Stafford Loan programs are subject to a 3% origination fee and a 1% guarantee 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 4% in fees.

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 (traditional semester dates apply.) For part-time students, this is six semester hours of credit for disbursement of student loan funds. For this reason, the College is required to return you loan funds if you do not meet enrollment requirements. The federal government does not recognize that colleges may have short sessions and that an active student might miss one session and thereby not be a registered student for only a little longer than the 30-day limit. An Advantage student cannot meet enrollment requirements for a given semester by taking one class in Session A and a second in Session B.

For example, if you are a part-time student taking classes at the Triangle campus in the Spring semester (January to early May), you must enroll in at least six semester hours of credit for courses that begin in January. If you only enroll in one class regardless of format, you will not be eligible for the student loan and the College will be required to return loan funds to the lender.

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. The College 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.

A few students may be approved for a loan mid-semester. If you receive loan funds mid-semester, please contact the Financial Aid Office for assistance in determining the time frame for you to enroll in six semester hours of credit.

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

Unfortunately, you are not eligible for financial aid because you already have a bachelor's degree.

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?

Students enrolled in a second undergraduate major may request an extension on the time frame for repaying their loans. For details, contact the NC Wesleyan College Financial Aid Office.

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

You must be fully accepted as a degree-seeking Wesleyan student.
Eight to ten weeks prior to the registration for which you plan to use financial aid you must file a completed Free Application for Federal Student Aid (FAFSA). You must re-apply for financial aid for each new academic year.
Call the Financial Aid Office (252)985-5290 or 1(800)488-6292 for a FAFSA; or get an electronic version.
Determine the classes you can take to be eligible for the grant or loan. You may wish to talk with your academic advisor. You also need to make certain that the beginning and ending dates of the ADP classes you will be taking fit into the semester dates required for grant and loan eligibility.
Within six to eight weeks after filing a 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.
The College Financial Aid Office will determine if additional forms are required, such as a verification worksheet or federal income tax returns. Your rapid response will speed the process along.
The College Financial Aid Office will determine you financial need and eligibility. If you are eligible for aid, the College will send you a financial aid award package. The financial aid award package will indicate grants you have been awarded and specify your eligibility for student loans.
Sign the financial aid award letter and return it and any required applications to the Financial Aid Office. Financial aid will not be credited to your account until the financial aid file is complete and all conditions relating to the specific program or programs have been met.
Register for classes. (See previous section on stipulations.)
Keep copies of all your financial aid documents for your file.