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Summer Graduate or Professional Aid Offer

All About Your Aid Offer

Summer 2017

The estimated cost of attendance and financial aid for summer are based on the courses a student is enrolled in for the semester.  Adjustments to enrollment may result in adjustments to aid eligibility.

  1. Understanding Your Estimated Cost of Attendance
  2. How Much Will It Cost?
  3. Understanding Your Estimated Financial Aid
  4. How to Accept Your Aid
  5. In Which Order Should You Accept Financial Aid?
  6. Types of Aid
  7. How Is Financial Aid Determined?
  8. What if My FAFSA Does Not Accurately Reflect My Financial Need or My Circumstances Have Changed?
  9. Other Payment Options
  10. Changes to the Financial Aid Award
  11. Important Information to Remember
  12. Problems Logging into STAR

Understanding Your Estimated Cost of Attendance

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How Much Will It Cost?

  1. Review the estimated cost of attendance provided and develop your own budget for summer.
  2. Subtract any grants, scholarships, and waivers you accept.
  3. Subtract any outside sponsorships or scholarships you receive from third-parties (outside of the institution).
  4. The remaining balance will be your out-of-pocket expenses. This can be covered by accepting federal loans or exploring Other Payment Options.
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Understanding Your Estimated Financial Aid

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Types of Aid

GRANTS
Awarded based on financial need as determined by the FAFSA and usually do not need to be repaid.

Federal TEACH Grant
  • Summer TEACH Grant is only available for students who have not used their full eligibility during the fall and spring semesters.
  • Amount is based on enrollment and will be adjusted if your enrollment changes.
  • For additional information on TEACH, visit our Grants page.
SCHOLARSHIPS
Awarded based on various criteria such as academic merit, financial need, leadership, service, etc. and usually do not need to be repaid.

Departmental or College Scholarships
  • Departments and colleges award scholarships to students within certain majors.
  • Contact the Dean's Office of your college to inquire about departmental scholarships.
  • See our Departmental or College Scholarships page for more information.
Private Scholarships
  • Students are encouraged to seek private scholarships from third-parties to help fund educational expenses.
  • See our External Scholarships page for more information.
OUTSIDE RESOURCES
Outside Resources: Outside resources are funds you receive to pay for educational expenses not listed on your award offer such as private scholarships or third-party sponsorships. Notify us if you will receive financial assistance not listed on your financial aid award. Additional resources may result in an adjustment to your financial aid. Changes to your original aid offer will be viewable on your STAR account.
LOANS

Loans are borrowed funds that must be repaid, usually with interest. Federal loans cannot be disbursed unless the student is enrolled at least half-time.

Federal Direct Unsubsidized Loans

  • Available to students enrolled at least half-time.
  • Award amounts vary depending on how much students used of their annual eligibility during the fall and spring semesters.
  • A small fee is retained by the federal government, so the awarded amount and disbursed amount will differ.
  • First time borrowers must complete a Master Promissory Note and Entrance Counseling at studentloans.gov before funds can be released.
  • See our Federal Direct Subsidized and Unsubsidized Loans page for more information including annual and aggregate loan limits.
Federal Direct PLUS Loans - Application Required
  • The Federal Direct PLUS Loan is a credit based loan option for graduate or professional students enrolled at least half-time.
  • The application can be completed at studentloans.gov.
  • Eligible students may borrow up to the cost of attendance (budget) minus any other financial aid.
  • A small fee is retained by the federal government, so the approved amount and disbursed amount will differ.
  • If approved, the borrower will be notified to complete a PLUS Master Promissory Note at studentloans.gov. Funds cannot be released until the Master Promissory Note has been completed.
  • If your parent applies and is denied, you may be eligible for additional unsubsidized loan funding.

NOTE: A borrower has 120 days to return any portion of a federal loan to the institution without being assessed any interest or fees on the amount returned.

Private Loans - Application Required

  • Private loans are non-federal, credit-based educational loans offered by a private lender.
  • It is highly recommended students exhaust federal financial aid options before borrowing from private lenders.
  • Apply for a private loan with a credit-worthy endorser/cosigner to ensure the best interest rate and terms.
  • Our ELM Select search engine allows you to compare lenders and products at www.elmselect.com.
  • For additional information, visit our Private Loans page.
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Changes to the Financial Aid Award

Revisions to a student’s financial aid award can occur for a number of reasons, but most frequently it is because the student is receiving more financial aid than federal and/or state guidelines permit (over award).

An "over award" can be the result of receiving additional financial aid - such as scholarships, tuition waivers or other financial aid assistance - after your original aid package was processed.

Other common reasons for financial aid revisions are:

  • Processing of review of financial hardship or  verification
  • Changes in enrollment before financial aid disburses
  • Changes in the enrollment during the add/drop period
  • Withdrawing from all courses after the  add/drop period
  • Approved appeals (academic progress, budget or dependency)
  • Changes in residency for tuition and fee assessment
  • Student requested changes

If adjustments were made to financial aid because of an over award and financial aid was already applied to your account, you may now owe a balance and will be billed accordingly by the Mountaineer Hub.

Students can view up-to-the-minute information on their  STAR account.

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Important Information to Remember

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Problems Logging into STAR

If you have problems logging in to your STAR account, you can use the Self Service Login online, contact Information Technology Services at 304-293-4444, or send an email to ITSHelp@mail.wvu.edu.


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