Types of Aid / Wiley University

Federal Student Aid Grants

A federal Pell grant, unlike a loan, does not have to be repaid. Pell grants are awarded only to undergraduate students who have not earned a bachelor’s or professional degree. Pell grants are awarded to students who are eligible based on the results of the FAFSA and their Expected Family Contribution (EFC). The amount awarded will depend on their enrollment status as a full-time or part-time student. Effective with the 2012-2013 award year, the duration of a student’s eligibility to receive a federal Pell grant is 12 full-time semesters. The calculation of duration will include all years that the student previously received the federal Pell grant funding.

The federal Supplemental Educational Opportunity Grant (SEOG) program is for undergraduates with exceptional financial need. Pell Grant recipients with the lowest EFC will be considered first for an SEOG. Just like the federal Pell Grant, the SEOG does not have to be repaid. Funds for this program are limited.

Federal Loans

The Federal Direct Subsidized Loan is awarded on the basis of a student’s financial need, classification status, number of hours enrolled, and other specific eligibility requirements. The federal government does not charge interest on these loans while borrowers are enrolled in school at least half-time, during a six-month grace period, or during authorized periods of deferment. Payments are not required while borrowers are enrolled in school at least half-time, during a six-month grace period, or during authorized periods of deferment. Students apply for this loan through the FAFSA. This loan is subject to an origination fee that is set by the U.S. Department of Education.

Federal Direct Unsubsidized Loan

The Federal Direct Unsubsidized Loan is not based on a student’s financial need, classification status, and number of hours enrolled but students must also meet specific eligibility requirements. Interest is charged throughout the life of the loan. The borrower may choose to pay the interest charged on the loan or allow the interest to be capitalized (added to the loan principal). Payments are not required while borrowers are enrolled in school at least half-time, during a six-month grace period, or during authorized periods of deferment. Students apply for this loan through the FAFSA. This loan is subject to an origination fee that is set by the U.S. Department of Education.

The Federal Direct Parent PLUS Loan for an undergraduate student is not based on financial need and is limited to a parent borrower for a dependent student. A parent is currently defined as a person’s natural or adoptive mother or father, step-parent, or legal guardian. The annual limit is equal to the student’s cost of attendance, as defined by Wiley, minus any other financial aid the student is receiving. Parents are required to pass a credit check and meet eligibility requirements. Students apply for this loan through the FAFSA, as well as through an additional application. This loan is subject to an origination fee that is set by the U.S. Department of Education.

Parent PLUS Loan Application

Sample Loan Repayment Schedule

The Federal College Work Study Program allows students, who show financial need, to earn money to assist with their educational expenses.

How to Apply

Students interested in CWSP should file the Free Application for Federal Student Aid (FAFSA) as soon after October 1 as possible each year, because this program has limited funding, and select that you are interested in work study. Please select yes for on the FAFSA if you would like CWSP.

Employment Opportunities

Employment through work study allows students the flexibility of participating in either on-campus employment or in a community service work site. There are several agencies participating in the community service aspect of the work study program. Many of these organizations are directly related to a student’s academic programs and offer students the opportunity to apply their skills and knowledge toward fulfilling societal needs within the community.

The Work Study Handbook provides full details about the program.

State of Texas Aid

The purpose of the Tuition Equalization Grant is provide grant aid to students with financial need to enable them to attend private, non-profit colleges or universities in Texas. You can view all of the Eligibility Requirements on the College for all Texans website.

Wiley University offers numerous institutional and special scholarships. The University scholarship committee recommends the granting of scholarships. The recommendations are made consistent with the established criteria. Scholarship awards may be restricted according to special purposes. Students needing additional assistance should contact the Office of Financial Aid. The Financial Aid Office administers all aid programs. Monitoring of the criteria for awards below will be done by the Office of the Provost.

Private loans are available to students who are not eligible for federal financial aid or who need additional funds to meet educational expenses; however, Federal Title IV funds may be more favorable than private loans.

Private loans are expensive and should only be borrowed when all other resources, such as Stafford or PLUS loans, have been exhausted. These loans do not offer the same benefits as Federal Financial Aid and are subject to higher interest rates because they are not guaranteed by the federal government. Since this type of loan is based on credit history, it may require a cosigner.

The Office of Financial Aid does not post or verbalize to students the names of private loan lenders. Students are encouraged to visit multiple lenders’ web pages to verify the interest rate, repayment options, fees charged, and borrower benefits. Our office does not endorse any lenders, receive any incentives, or have any arrangements or agreements with any lenders.