HOW CAN I PAY FOR COLLEGE? A Straightforward Guide to Financial Aid and Other Resources

HOW CAN I PAY FOR COLLEGE? A Straightforward Guide to Financial Aid and Other Resources

CONTENTS 1. Introduction... 1 2. I Plan to Pay on My Own... 1 2.1 Lump-Sum Payments... 1 2.2 Payment Plan... 1 3. I Need Help... 2 3.1 All About Financial Aid... 2 3.2 Grants... 2 3.2.1 Federal Grants... 2 3.2.2 Private Organization Grants... 3 3.3 Federal Financial Aid and Loans... 3 3.3.1 Federal Loans... 3 3.3.2 Steps to Navigate Financial Aid... 4 4. Am I Eligible for Other Aid?... 5 4.1 State Grants................................................................................. 5 4.2 Military Benefits... 5 4.2.1 GI Bill Benefits... 5 4.2.2 Tuition Assistance... 5 4.2.3 Yellow Ribbon Military Benefits... 5 4.3 Private Organization Grants... 6 4.4 Scholarships... 6 4.4.1 WGU Scholarships... 6 4.4.2 External Scholarships... 6 4.5 Corporate Reimbursement... 7 4.6 State Loans... 7 4.7 Private Loans... 7 Partnership Discounts... 7 5. Responsible Borrowing... 8 5.1 Sample Financial Aid Plan... 8 5.2 Repayment... 8 6. Value of Your College Degree... 9 6.1 CLA Results... 9 6.2 Tuition Comparison... 9 6.3 Employer Acceptance... 9 6.4 WGU Graduates Income Comparison... 9 7. Frequently Asked Questions...10 13

1. INTRODUCTION WELCOME TO THE WGU PAYING-FOR-COLLEGE GUIDE. Pursuing a degree is exciting, but like many other students, you may be wondering how to cover the cost of tuition and fees. Don t worry; WGU is committed to providing access to post-secondary education by offering low-cost, flat-rate tuition. This guide is split up into three main categories: I plan to pay on my own I need help Am I eligible for other aid? We ll also provide helpful information related to: Steps to applying for financial aid The value of a WGU degree Answers to frequently asked questions (FAQs) A college degree is within reach. Read on to discover the cost-effective resources available to you. 2. I PLAN TO PAY ON MY OWN TUITION AND PAYMENT PLANS WGU charges tuition at a flat rate every six months, so you pay for the time, not the credit hours. The chart on the right shows a breakdown of costs by program and additional fees. If you plan to self-pay your tuition without the help of outside funding, you have the following two options: 2.1 LUMP-SUM PAYMENTS New students are required to pay for their first term on the 22 nd day of the month prior to their program start date. Returning students are required to pay on the 1 st day of the new term. If you plan to pay your tuition in one payment, please make arrangements on or before the tuition due date. Nursing Programs (MSN and BSN): B.S. Nursing (Prelicensure): MBA Programs: Business Bachelor s Programs: Information Technology Programs: $3,250 per six-month term $4,250 per six-month term $3,250 per six-month term $2,890 per six-month term $2,890 per six-month term 2.2 PAYMENT PLAN Most students are eligible to enroll in a tuition payment plan. If you choose this option: Tuition is due on the 1 st day of the new term Payments received after the 15 th of the month will be charged a $30.00 late fee Tuition must be paid in full on the 1 st day of the 4 th month of the term (e.g., if your term begins on September 1 st, full payment is due by December 1 st ). Teachers College Programs: Resource Fee: Application Fee: $2,890 per six-month term $145 per six-month term (non-refundable) $65 (non-refundable) Note: For a list of special fees for select programs, visit www.wgu.edu/tuition_financial_aid/tuition. Note: For a list of Special Fees for select programs, visit www.wgu.edu/tuition_financial_aid/tuition. A Straightforward Guide to Financial Aid and Other Resources 1

3.1 I NEED HELP 3.1 ALL ABOUT FINANCIAL AID Thanks to our affordable tuition, WGU students are able to graduate without large amounts of student debt to repay. Financial aid can come in the form of grants and student loans. This aid can help you manage the costs of: Tuition and fees Textbooks Technology Other education expenses Most WGU students qualify for at least one type of federal aid. Generally, to be eligible for aid, you must be a U.S. citizen or eligible non-citizen, enroll in a degree-seeking program, and make satisfactory academic progress. Other specific eligibility criteria may apply. Students must complete the Free Application for Federal Student Financial Aid (FAFSA) to determine eligibility. The amount of financial aid you are eligible to receive is based on: Factors, such as family income, household size, and other information Program of study and year in college Distribution formulas based on university, state, and federal guidelines Other college, university, state, and federal criteria The amount of financial aid you can receive is based on how much you need for education costs, which include tuition, fees, books and supplies, technology, qualified travel, room and board, and other expenses. The following formula is used to calculate your need: The cost of attendance (COA), which is estimated by WGU, takes into account your WGU tuition and typical cost of books or other materials, technology, and other expenses. The expected family contribution (EFC) is determined by the FAFSA process. The lower your EFC, the more aid you are likely to receive. Click here to see financial aid calculation examples. Federal regulations require that all students who receive financial aid maintain satisfactory academic progress (SAP) by making measurable progress toward a degree or certificate. The number of assessments passed/ competency units earned during each six-month term measures progress. Click here for more details about the SAP policy. 3.2 GRANTS A grant is a financial gift usually offered by the government or a private business. Grants are generally awarded based on financial need and/or academic merit. 3.2.1 FEDERAL GRANTS Pell Grants are needs-based meaning you do not have to pay them back and are provided only to students who have not yet earned a bachelor s degree. They are available to those who have the most need, with need calculated based upon income, number of dependents, and other factors that are reported on the federal FAFSA form. The Teacher Education Assistance for College and Higher Education (TEACH) Grant was created in association with the College Cost Reduction and Access Act to help students earning education degrees. Students who qualify for the TEACH Grant must agree to work in a low-income, high-need school after graduation. The TEACH Grant provides up to $4,000 per year to eligible students. (Note: If you accept a TEACH Grant and choose not to work in a government-approved school, the balance of your award will be turned into a Federal Direct Unsubsidized Loan that must be repaid see section 3.3.1 for more information.) A Straightforward Guide to Financial Aid and Other Resources 2

3.2.2 PRIVATE ORGANIZATION GRANTS Companies, clubs, and other private organizations offer grants and scholarships for students based on academic achievement and financial need (see section 4.4.2 External Scholarships for more information). Visit your local Chamber of Commerce to learn more about grant opportunities in your area. 3.3 FEDERAL FINANCIAL AID AND LOANS WGU is approved by the U.S. Department of Education to offer federal financial aid. Because of our affordable tuition and flexible academic delivery model, WGU students are able to graduate without large student-loan debt. 3.3.1 FEDERAL LOANS WGU students may qualify for student loans: Federal Direct Loans (Subsidized) These loans are based on financial need. The interest is paid by the federal government while you are enrolled in school at least half-time or during deferment periods. Federal Direct Loans (Unsubsidized) These loans are not based on financial need, and therefore, are available to most WGU students. You are responsible for the interest from the day the loan disburses until it is paid in full. Annual loan limits vary based on your program and grade level. Click here for information about loan limits. A Straightforward Guide to Financial Aid and Other Resources 3

3. I NEED HELP (CONTINUED) HOW CAN I PAY FOR SCHOOL? STEPS TO NAVIGATE THE FINANICAL AID PROCESS STEP 1 WGU Apply to WGU The first step is to complete and submit the WGU online application form. Be sure to identify your program of interest, as your program of choice must be declared before an Intake Interview can be completed. Note: You are required to meet the admissions requirements for the WGU program you select. WGU does not have application deadlines, so you can apply at any time. Decide if You Need Financial Aid Help NO Complete the FAFSA The FAFSA (Free Applicaiton for Federal Student Aid) is a federal form you must complete to qualify and apply for state and federal financial aid. You can complete the FAFSA online independent of the online financial aid application, but it is recommended you access the FAFSA through the MyWGU Student Portal. Explore Scholarships and Grant Opportunities Check for WGU Partnership Discounts YES STEP 2 Review Your My Financial Aid Plan STEP 3 Accept Award Once your award letter is received, you will need to officially accept your financial aid award and agree to the terms and conditions associated with it. These steps will be completed in the Financial Aid tab on the MyWGU Student Portal. NO Additional Documentation Required Provide Verification Documents Before a financial decision is made about your financial aid award, additional documentation and verification may be required of you. You will be notified of these additional steps by the WGU Financial Aid Office, as well as in your Financial Aid tab on the MyWGU Student Portal. YES STEP 4 Receive Master Promissory Note The Master Promissory Note is a legal document that opens a line of credit for your educational expenses during your academic year. When you sign, you promise to repay your federal student loans. The note also contains important language about your rights and responsibilities as a borrower. STEP 5 Complete Entrance Loan Counseling This step is required to ensure you understand your financial obligations, including paying your tuition and fees. If you are using student loans, your counselor will also help you understand the loan type, interest rate, and repayment terms. STEP 6 Receive WGU Financial Aid Award You will receive a Financial Aid Award letter that will indicate the grants and loans for which you are eligible. After all required documentation is received, please allow two to three weeks for us to process your application. Get Answers to Your Questions Talk to an Enrollment Counselor A Straightforward Guide to Financial Aid and Other Resources 4

4. AM I ELIGIBLE FOR OTHER AID? STATE FUNDING, MILITARY BENEFITS, AND OTHER AID In addition to financial aid and loans, don t forget to investigate other aid options. Employers, military, and WGU partners may all provide funding. 4.1 STATE GRANTS In some states, WGU students qualify for local grants. While we can t guarantee state funding, your local State Grant Agency will have more information about their programs, application process, etc. State grant programs typically have strict application deadlines. In many cases, completion of the Federal Application for Federal Student Aid (FAFSA) is the first step for state grant applications. Contact your state agency for more specific information. 4.2 MILITARY BENEFITS 4.2.1 GI BILL BENEFITS Western Governors University offers online degree programs approved for Veterans Administration (VA) education benefits under the GI Bill. Reserve and National Guard members may be entitled to education benefits under the GI Bill for Reserve and Guard Members. All programs of study at WGU are approved for education benefits by the Department of Veterans Affairs. Eligibility and award amounts depend upon the veteran s period of military service, years of service, and other factors. To learn about your own eligibility, visit the Veterans Affairs website at www.gibill.va.gov. WGU s tuition rates are quite modest. As a result, veterans are usually able to cover the full cost of tuition, fees, and books with their benefits. After you are admitted to WGU, your Enrollment Counselor will direct you to WGU s VA Department for specific instructions on completing the necessary paperwork. 4.2.2 TUITION ASSISTANCE The competency-based degree programs at WGU are approved for Tuition Assistance for active-duty, Reserve, and National Guard service members. This approval was granted after a rigorous review by the Department of Defense that affirms the substantive quality of WGU programs and the comparability of WGU s competency units to traditional semester credits. Military personnel may apply for Tuition Assistance through their base education office or other standard methods. Click here if you are a base education officer. A WGU Enrollment Counselor can help explain the process. Learn more about how WGU serves the military student through Tuition Assistance. All programs at WGU are approved for education benefits by the Department of Veteran Affairs. 4.2.3 YELLOW RIBBON MILITARY BENEFITS The Yellow Ribbon GI Education Enhancement Program was designed to help students cover 100% of their college costs. As a provision of the Post-9/11 Veterans Educational Assistance Act of 2008, the Yellow Ribbon Program provides benefits that cover in-state, public tuition. Eligibility requirements include: Serving an aggregate period of active duty of at least 36 months after September 10, 2001 Being honorably discharged from active duty for a service-related disability Serving 30 consecutive days after September 10, 2001 Being a dependent eligible for Transfer of Entitlement based on a veteran s service and satisfaction of the requirements listed above. For more information, visit the Veterans Affairs website at www.gibill.va.gov/school_info/yellow_ribb on/index.htm. A Straightforward Guide to Financial Aid and Other Resources 5

4. AM I ELIGIBLE FOR OTHER AID? (CONTINUED) 4.3 PRIVATE ORGANIZATION GRANTS Companies, clubs, and other private organizations offer grants and scholarships for students based on academic achievement and financial need. Visit your local Chamber of Commerce to learn more about grant opportunities in your area. 4.4 SCHOLARSHIPS Scholarships are one of the many ways WGU helps students clear the path to achieving their goals by making education more affordable. It s part of our investment in the future of our students. Sample Scholarship Programs: WGU Excellence in Business Scholarship For business professionals with associate s degrees who want to further their education with a bachelor s degree in business. $2,000 4.4.1 WGU SCHOLARSHIPS General Scholarships: During the past three years, WGU has awarded over $5 million in scholarships from its own funds and contributions of third parties. Partial list of donors: AT&T AARP Zions Bank Most WGU scholarships are partial scholarships designed to help offset the direct cost of tuition. Each scholarship has its own set of requirements when it comes to qualifying. In general, every student who applies for a scholarship must do so during the enrollment process, or up to 60 days after starting a degree program. WGU s tuition is billed at a flat rate every six months. With the help of financial aid, like scholarships, your out-ofpocket expenses will be even more affordable. Note: There are a limited number of scholarships not described here that are available to current students only. Speak to a WGU Scholarship Counselor to learn more. WGU Partner Scholarships: WGU Go Further in Nursing Scholarship For motivated RNs who wish to advance their education and earn a BSN or MSN. WGU Teacher Education Achievement Scholarship For licensed or aspiring teachers who wish to earn a bachelor s or master s degree in education. $2,400 $2,000 4.4.2 EXTERNAL SCHOLARSHIPS External scholarships may be competitive, but it s worth the effort to apply. Look for scholarships that match your personal background, area of study, etc. Choosing carefully will help to increase your chances of being awarded funds you need. Click here to learn more about third-party scholarship opportunities. You can also use the WGU External Scholarship Search Tool to help you explore a database of hundreds of scholarships offered by institutions and organizations independent of WGU. The search tool will ask you several questions to help narrow your search. WGU Institutional Partner Fund $2,000 Note: Be cautious about scams when applying for scholarships. Students should never have to pay for scholarship advice or scholarship searches, so be wary of sites that charge for this information. Fastweb.com offers credible scholarship information. WGU NEA Academy Partner Scholarships $2,400 WGU Healthcare Partners Fund $2,500 A Straightforward Guide to Financial Aid and Other Resources 6

4. AM I ELIGIBLE FOR OTHER AID? (CONTINUED) 4.5 CORPORATE REIMBURSEMENT Many corporations or organizations that offer tuition aid or reimbursement will allow you to use your benefits for a WGU online degree program. As a nonprofit, regionally accredited university with affordable tuition, WGU is an ideal fit for many tuition reimbursement programs. At WGU, financial aid or tuition reimbursement may be used to pursue a degree program, post-baccalaureate teacher certification program, or teaching endorsement. WGU is not an appropriate school for persons looking to take individual courses only. Apply for tuition assistance through your company s education office or other tuition reimbursement process. If you would like to discuss using financial aid or tuition reimbursement for a WGU degree program, please speak to an Enrollment Counselor. 4.6 STATE LOANS In addition to federal loans, you may also qualify for statebased loans with similar terms. States offer student loans based on the money available in their annual budget, which can affect interest rates and loan amounts. Contact your state s department of postsecondary education for more details. 4.7 PRIVATE LOANS Private student loans are similar to personal loans provided by a bank. They are credit-based, which means that interest rates and payment options may vary more than government PARTNERSHIP DISCOUNTS (WGU-SPECIFIC) As a nonprofit, online university, WGU is committed to helping busy adult learners achieve their goals. With this commitment in mind, WGU has developed education partnerships with industryleading organizations across the nation. These partnerships allow corporations to leverage WGU s award-winning degree programs and proven competency-based model to foster both personal and professional growth for their employees. Through these partnerships, WGU extends special benefits to corporate partner employees and affiliates. Benefits can include tuition discounts and scholarship opportunities. Ask your employer if they are a WGU partner, or visit the website to learn more. loans. Private loans are not part of a federal program and are not guaranteed by the U.S. Department of Education. Therefore, they do not have the same benefits of deferment and/or forbearance. While WGU students seldom use private loans, if you choose to pay tuition with a private loan, it is your responsibility to work with your lender and WGU to ensure that your loan application is processed. Click here for more information about private student loans. A Straightforward Guide to Financial Aid and Other Resources 7

5. RESPONSIBLE BORROWING We are committed to helping students achieve their goals affordably. We want you to graduate with as little debt as possible. Your goal is education our goal is to help you pay for school. Upon acceptance, every student receives a Financial Aid Plan outlining their estimated cost of attendance, grants and/or scholarships awarded, amount of unmet financial need, and recommendations on how to meet those needs. Review the sample below to see how it works. Earning a degree is meant to improve your life and better your career. Don t begin by taking on more debt than you can afford. 5.1 SAMPLE FINANCIAL AID PLAN Dear Mr. Smith: Thank you for choosing Western Governors University to achieve your educational goals. The information provided in your My Financial Aid Plan is an estimate to help you make important financial decisions about your education. The costs and awards listed cover 12 months (two six-month terms) and assume you are enrolled full-time and living off campus. Estimated Cost of Attendance Direct Costs (costs that are payable to the school): Tuition & Fees....$6,070 Indirect Costs (estimates for expenses you may incur for living and other education related expenses): Housing & Meal...$6,000 Books & Supplies**...$200 Other Educational Costs...$1,000 Total Cost of Attendance...$13,270 *Because WGU is an online university that has no campus housing, Housing & Meals is an allowance for expenses that a student may experience under varying living situations. Most WGU students cover living expenses through other sources of income. **Almost all textbooks are included in Tuition & Fees as electronic learning materials. WGU students typically have only modest expenses for Books & Supplies. Grants & Scholarships Gift Aid (money that typically does not need to be paid back): Federal Pell Grant....$5,645 State Grant...$0.00 Institutional Aid...$0.00 Private Grants and Scholarships...$0.00 Total Grants & Scholarships...$5,645 Unmet Direct Costs: Remaining Tuition & Fees Student Owes WGU....$425 ($6,070 minus $5,645) Federal Student Loans Recommended Loan Amounts (up to unmet direct costs): Federal Direct Subsidized Loan....$425 Federal Direct Unsubsidized Loan....$0.00 5.2 REPAYMENT Paying for school is only affordable if the cost fits into your budget comfortably. As we saw in Mr. Smith s case, he was able to take out a federal subsidized student loan for the remaining $425 needed to attend WGU for his first year. He will pay off the loan on a monthly basis after finishing his degree, and since the loan is subsidized by the government, interest will not accrue on the loan in the meantime. This seems simple enough, but let s take a look at some other options that could complicate things. Instead of $425, let s assume that Mr. Smith needed $4,000 to attend WGU in his first year. He has several options for funding, including a(n): Payment plan. Mr. Smith opts for a WGU payment plan, which allows him time to pay for his tuition up-front. Tuition must be paid in full by the first day of the fourth month of his term. He breaks his payments down as follows: o September: $1,000 o November: $1,000 o October: $1,500 o December: $500 Total: $4,000 Federal Subsidized Loan. Mr. Smith was approved for a federal subsidized loan. The interest rate of 3% is paid by the government while Mr. Smith is in school and during deferment periods. Upon graduation, Mr. Smith must pay a minimum of $50.00 per month for seven and a half years. The loan will accrue an additional $468.46 in interest. Total: $4,468.46 Federal Unsubsidized Loan. Mr. Smith was approved for a federal unsubsidized loan. The interest rate of 6.8% is Mr. Smith s responsibility after the loan is approved, including forbearance periods. Upon graduation, Mr. Smith must pay a minimum of $50.00 per month for nine years. The loan will accrue an additional $1,343.77 in interest. Total: $5,343.77 Private Loan. Mr. Smith was approved for a private student loan. Because private loans are based on personal credit, the interest rate is 8.7%. Mr. Smith is responsible for paying the interest on the loan after it is approved, including during deferment periods. The life of the loan is 25 years. Upon graduation, Mr. Smith must pay a minimum of $13.33 per month for 25 years. The loan will accrue an additional $9,918 in interest (three years of school + six months of deferment + 25 years of repayment). Total: $13,918 As you can see from Mr. Smith s options, a lower monthly payment does not necessarily equal affordability. Although a private loan offers the lowest monthly repayment amount, Mr. Smith is likely to pay over $5,000 more when compared with an up-front payment plan. When deciding how to pay for school, it s important understand how your choices will affect your life after graduation. Be sure to borrow wisely. A Straightforward Guide to Financial Aid and Other Resources 8

6. VALUE OF YOUR COLLEGE DEGREE Earning a degree is about more than gaining an education it s about getting your money s worth. Choosing the right university means your degree should be valuable. You can measure the value of your degree by: What you learn in your degree program The money you spend on your education Job prospects after graduation At WGU, we are focused on your learning and the value of your degree. Our degree programs ensure that you are prepared, engaged, and ready to compete in the job market. 6.1 CLA RESULTS The Collegiate Learning Assessment (CLA) is a national exam that measures higher-order skills, such as critical thinking and written communication. In 2011 2012, 172 institutions participated in the CLA. WGU seniors scored higher than 78% of participating institutions. In addition, WGU s value-added score, measuring incremental learning, was higher than 93% of participating institutions. 6.2 TUITION COMPARISON WGU s tuition and fees are lower than average in 43 of 50 states as reported by the College Board Annual Survey of Colleges Data for public four-year institutions in October of 2012. The amount of money you spend on your education is important when you consider the value of your degree. Spending too much money can outweigh the benefits of earning your degree. 6.3 EMPLOYER ACCEPTANCE Outstanding performance paves the way for our students to succeed in the workforce. A 2012 survey conducted by Harris Interactive revealed positive feedback from employers who hired WGU graduates: 97% said that WGU graduates met or exceeded expectations; 91% said WGU graduates exceeded expectations 99% said they would hire another WGU graduate 95% rated WGU graduates job performance as good or better than the job performance of other graduates; 55% rated it better 100% said that their WGU graduates were prepared for their jobs; 67% said that they were very well or extremely prepared When it comes to WGU graduate success, the numbers speak for themselves. Click here to learn more about our graduates success rates. 6.4 WGU GRADUATES, INCOME COMPARISON WGU graduates from 2006 to 2009 are earning $18,600 more annually than when they enrolled at WGU. That s $6,200 more than the national average for graduates of those same years. WGU graduates from 2010 to 2012 are earning $9,000 more annually than when they enrolled at WGU. NET CHANGE IN ANNUAL INCOME COMPARED TO PRE-ENROLLMENT Graduates 2006 2009 $12,500 $10,000 WGU National $12,400 $18,600 $7,500 $5,000 $2,500 0 $4,278 Wyoming $6,070 $7,676 WGU Tennessee $7,917 Missouri $8,354 Texas $8,704 $10,774 $12,330 Indiana Washington Pennsylvania WGU National Graduates 2010 2012 $9,000 $8,500 Source: The College Board Annual Survey of Colleges Data for public four-year institutions, October, 2012 Comparison of results from the 2012 Harris Interactive online survey of 1,548 new college graduates nationwide, including 1,079 WGU graduates. A Straightforward Guide to Financial Aid and Other Resources 9

7. FREQUENTLY ASKED QUESTIONS Below you ll find answers to frequently asked questions related to financial aid, student status, scholarships, and military benefits. How are financial aid funds made available? Financial aid funds are available to students based on six-month payment periods. You will receive an award letter from WGU s financial aid department that includes estimated costs and aid for two payment periods. One-half of the aid is available for each sixmonth payment period. Your financial aid cannot be used to pay your application fee. Note: Full-time enrollment is required for all financial aid programs. Failure to progress at the full-time rate outlined in your Degree Plan may result in loss of eligibility for additional aid and for loan deferment. What can I use financial aid for? As a WGU student, you can use financial aid to pay for tuition, fees, books, other school-related supplies, technology needed for online study, and personal living expenses. The technology needed can include a new computer, Internet service fees, and software. Your financial aid cannot be used to pay your application fee. What if I need to take several months off from my studies? Do I have to begin paying back my loans? You may take a break or time off for one to three months at the end of any six-month term dependent on academic performance by submitting a request. When you have exited active status, you have a sixmonth grace period before your federal student loan goes into repayment. Whether you return following a three-month break or request to re-enroll within 180 days following a withdrawal, you will not use your onetime six-month grace period. What s the difference between a dependent and independent student? A dependent student is one who is required to use parental information on the FAFSA. Independent students use only their own financial information. Dependency status is based on age, marital status, dependent children, veteran status or military service, and other factors. When will I receive my award letter? Your award letter details the loans and grants for which you are eligible. You should receive this letter via email from the Financial Aid Office after completing the FAFSA application process and your start date is scheduled. When do I get my money? WGU is responsible for disbursing your aid. We will draw down the available funds for tuition and fees within four-to-six weeks after you begin your program. Any excess funds are paid directly to you for books, supplies, computer technology, and other expenses. If you do not have enough financial aid funds to cover your tuition and fees, you will be notified by the Bursar. Who can answer my financial aid questions? Speak to an Enrollment Counselor who can answer most of your basic financial aid questions. The WGU Financial Aid Office can answer more specific questions about your personal situation once you have completed the WGU Financial Aid Application and have completed your WGU application. The Financial Aid Office can be reached at: finaid@wgu.edu 1-877-435-7948 ext. 3104 A Straightforward Guide to Financial Aid and Other Resources 10

7. FREQUENTLY ASKED QUESTIONS (CONTINUED) What if I lose my job or incur major medical expenses? Can I get my financial aid award amount increased? There is a possibility you may be able to appeal your award if you have special circumstances. Appeals for special circumstances are reviewed by a professional financial aid specialist. All appeals must be fully documented in order to meet federal audit requirements. Approval may mean a change in the type of funds awarded and not an increase in aid. For more information, contact the Financial Aid Office via email at finaid@wgu.edu. What is considered satisfactory academic progress? Satisfactory academic progress is a federal government requirement. In order to remain eligible for financial aid, you must be progressing toward your degree at a reasonable rate. At WGU, your progress will be monitored by your mentor, who will make sure you are completing WGU competency units on time and are moving through your WGU Academic Action Plan appropriately. Your mentor will conduct a satisfactory academic progress review every six months. Please review the Satisfactory Academic Progress policy for more information. What if I decide to stop working toward my degree? When you withdraw from WGU or drop below full-time status, you may be required to repay part of a Pell Grant received. See the Return of Title IV Funds policy for more information. If you borrowed a student loan, you will enter repayment (just as you would when you graduate). That means your six-month grace period begins. You must make your first payment on your loan(s) at the end of the grace period. Remember, if you received an unsubsidized loan, you will be charged interest during the grace period. Under certain, limited circumstances, you can receive a deferment or forbearance on your loan. A deferment allows you to temporarily postpone payment if, for instance, you are unable to find full-time employment, return to college, or experience economic hardship. If you are not eligible for a deferment, you may receive a forbearance. During forbearance, your payments are postponed or reduced; however, interest still accrues. How do you select scholarship winners? It depends upon the scholarship. In general, we award scholarships based on the following factors: Meeting the basic eligibility requirements Answers you provide on the scholarship application An interview with a scholarship counselor Some scholarships are also based upon evaluations of prior college transcripts and other tests. We encourage you to apply. When will I find out if I m selected as a scholarship winner? WGU evaluates scholarship applications on a continual basis because we start new students in their programs every month. Often we are able to make an award decision within two-to-four weeks of receiving your application. In most cases, you will also need to have applied for admission and been accepted to the university. An Enrollment Counselor can help explain the process. Do I receive the scholarship all at once? No. Scholarship awards are divided into a set amount per term. This amount is credited against your tuition due for each term. The details are explained in the description for each scholarship. A Straightforward Guide to Financial Aid and Other Resources 11

7. FREQUENTLY ASKED QUESTIONS (CONTINUED) If I receive a scholarship, can I also apply for financial aid? Yes. You should apply for federal financial aid, too. Scholarship awards will only cover a portion of your school expenses, and financial aid can help pay for the rest. You can apply for financial aid while you are waiting for a decision about your scholarship application. It will not hurt your chances to receive a scholarship. Is tuition refundable if I withdraw from my degree program? WGU offers partial, prorated tuition refunds to students who withdraw before 60 percent of their term has been completed. Refunds beyond this point are not considered. The application fee and resource fee are not refundable. As a veteran, will I qualify for full-time or three-quartertime VA benefits? If you are a veteran, the GI Bill is very generous for WGU students. You will qualify for either full-time, three-quarter-time, or half-time benefits, depending on the number of registered competency units (CU s) in an undergraduate program. (Half-time benefits are considered to be 12 competency units, a standard full-time load for undergraduate students at WGU.) You can vary your attendance time from term to term. Graduate students will always qualify for full-time benefits when enrolled in the minimum requirement of eight competency units. If I receive veterans benefits, can I also apply for financial aid? Yes. Veterans benefits are paid under laws administered by the Department of Veterans Affairs (VA). As a result, VA benefits are not considered income and should not be reported on your application for financial aid. Submitting a FAFSA is necessary to know whether you qualify for a Pell Grant and/or student loans. Students using active duty Military Tuition Assistance funds must report it on their FAFSA as an additional resource toward their tuition cost which may affect the amount of their award. How quickly will I receive my VA money? After you have started your degree program and developed your personalized Degree Plan, the VA department at WGU will certify your program of study to the VA. This is done by the third week of the first month of each term. You should receive your first benefit payment within five to eight weeks after a certification is submitted each term. You should then regularly receive a monthly payment after the last day of each month and your verification of attendance (if applicable). But first, you must apply to WGU and be admitted. You will also need to have received notice of your VA education benefit eligibility. WGU s VA department can help you complete the necessary steps for attendance certification. Will I get credit for my military experience? WGU does not award traditional credits directly for military experience, but an incoming student may have certain requirements waived when the military experience has been ACE-reviewed and applied directly to the WGU degree program. WGU can also waive requirements based upon DANTES and CLEP exams that match with WGU program requirements and meet minimum grading standards. A transcript review is required to determine exactly what can be waived. More importantly, everything you ve learned that s relevant to your degree program can potentially help you accelerate your degree. Talk to an Enrollment Counselor to get a detailed explanation. If you have served in any branch of the military, you should be able to obtain a military transcript; WGU s VA department can direct you to the online resources to request it. A Straightforward Guide to Financial Aid and Other Resources 12

7. FREQUENTLY ASKED QUESTIONS (CONTINUED) How do my Post-9/11 education benefits work at WGU? Post 9/11 (CH 33) benefits are paid differently from older chapters. Based on your entitlement which is factored from your length of qualifying active-duty service a percentage of your tuition and fees will be sent directly to the school. 100% entitlement will cover your tuition and fees completely each term you remain eligible. You will also receive a monthly stipend sent directly to you if you are not on active duty or the spouse of an active-duty service member using a transfer of entitlement. This payment is 50% of the national average basic allowance for housing (BAH) rates for an E-5 with dependents, multiplied by your rate of pursuit and percentage of entitlement. In an undergraduate program, 18 CU s is considered 100% pursuit, but you do not have to enroll in 18 CU s to get the benefit. Fewer than 18 CU s will be paid at the corresponding lesser percentage. In a graduate program, eight CU s is considered 100% pursuit. You will also receive a book stipend once each term up to the capped amount for your entitlement. A Straightforward Guide to Financial Aid and Other Resources 13