2009-2010 Financial Aid
Standards | Scholarships | Other Financial Aid | Stafford Loan | PLUS Loan | Student Employment | Budgets | Determination of Need | Satisfactory Progress | Return of Title IV Federal Financial Aid Funds | Institutional Refund Policy
Westminster maintains a significant program of merit-based and need-based financial aid to support new and continuing students, and the college makes vigorous efforts every year to expand this broad-based program of financial aid to provide the maximum in options to students who are serious about their college educations.
The college is totally committed to the philosophy that every qualified student shall have access to a college education, regardless of personal financial circumstances. The college makes every effort to determine each student's personal needs and abilities and to create an individually tailored financial aid package which is appropriate to the student's own special case.
Merit-based aid is available to students who have excelled in their studies or extracurricular activities.
Need-based aid is available and awarded to students whose family contribution is judged to be less than Westminster's total cost, thus demonstrating a need for assistance. These funds are awarded in the form of grants, loans, and employment. In addition, government-subsidized loans may be available to students who do not qualify for other need-based aid, but who still lack the financial resources to pay for their education in full.
Merit-based and need-based financial aid are administered on different criteria; consequently, application procedures and deadlines differ.
To receive an academic scholarship, a student generally must maintain at least a 3.0 cumulative grade point average (GPA). To receive a grant, a student must maintain a 2.0 or 2.5 cumulative GPA, depending on the renewal requirements for the specific grant fund. To receive merit-based aid, a student must be enrolled full time (at least 12 semester credit hours), except where otherwise specified by the individual award.
Merit-Based Aid (Scholarships)
Merit-based aid is available at the college as a tuition award. Scholarships are awarded to recognize academic achievement. Consequently, these scholarships are awarded on the basis of merit and do not have to be repaid.
Some scholarships are established to recognize special groups such as non-traditional students, senior women, part-time students, and others. Although specific criteria vary, scholarship applicants are generally required to maintain at least a 3.0 cumulative GPA. Scholarship awards are made for the academic year only (fall and spring semesters). The total award will be divided equally between fall and spring semesters.
A list of annually-funded scholarships is available in the Office of Financial Aid. Scholarship funds are provided by individuals and/or organizations to support qualified students on a year-to-year basis only.
General Scholarship Fund
In addition to annually-funded scholarships, the college maintains a General Scholarship Fund that consists of a series of financial gifts made to Westminster by individuals and families who support the college. The General Scholarship Fund is used to support the Institutional Scholarships awarded each year. Listed below are the individuals, families, and corporations who are now supporting the College's General Scholarship Fund: Albert J. Alt Memorial Scholarship, George Bailey Memorial Scholarship, Victor Blumberg Memorial Scholarship, Bess W. Fisher Scholarship, Margaret Freece Scholarship, Fuller Reading Scholarship, Mr. and Mrs. G.T. Hansen Scholarship, Edith Wade and Frederick J. Hart Scholarship, Thomas F. Hawk Scholarship, Alfred Hendrickson Scholarship, Hoag Scholarship, Rosa Bird Marimon Scholarship, Mountain Fuel Supply Company Scholarship, Morris B. Rosenblatt Memorial Scholarship, Samuel Rosenfeld Memorial Scholarship Fund, Mr. and Mrs. L.S. Skaggs Scholarship,
Bradley and Elizabeth Skinner Memorial Scholarship, Charles L. Wheeler Memorial Scholarship, Westminster College Memorial Scholarship Fund, and Henry T. and Helen I. Zeider Scholarship.
The college also maintains a series of special scholarships funded by a variety of organizations that prefer to select the recipients for the awards each year. In most cases, these special scholarships have their own application forms, which are available through the Office of Financial Aid.
Air Force ROTC Scholarship--Available on a competitive basis for 2, 2½, 3, 3½, or 4 years. Provides partial to full tuition, reimbursement for textbooks, and a monthly allowance.
Army ROTC Scholarship--Available on a competitive basis for 2 to 4 years. Provides full tuition, reimbursement for textbooks, and a monthly allowance.
Navy ROTC Scholarship--Available on a competitive basis for 2 to 4 years. Provides full tuition, reimbursement for textbooks, and a monthly allowance.
United Presbyterian Scholarship--Awarded to members of the Presbyterian Church. Students must have a minimum 2.0 GPA.
Church loans based on availability of funds may be obtained through churches maintaining an affiliation with the college (Presbyterian, United Church of Christ). In most cases, these loans are restricted to members of the respective denominations.
Information on these loans may be obtained from the appropriate minister or from the Office of Financial Aid.
The college also maintains a loan fund from which amounts of money may be borrowed under emergency conditions for short periods of time to meet school-related expenses (based on availability of funds).
The individuals and organizations now supporting this special loan fund:
Christ Student Loan Fund, Dora E. Cunningham Memorial Loan Fund, Clara Dell Forde Student Loan Fund, George T. Hansen, Sr. Loan Fund, T.K. Irvine Loan Fund, Coletha Kimberling Jones Student Loan Fund, Harvey T. and Ina West Kurzhak Memorial Loan Fund, Masonic Foundation Loan Fund, Michael Short-Term Loan Fund, Joseph D. Miller Loan Fund, George D. Ryall Loan Fund, Orrin Sterns Loan Fund, and Wasatch Presbyterian Church Women's Association Loan Fund.
Degree-seeking undergraduate and graduate students are eligible to apply for Federal Stafford Student Loan funds. Banks and other lending institutions have traditionally lent money to students to finance their education.
First-year undergraduate students may borrow up to $5,500 per academic year. Second-year undergraduate students may borrow up to $6,500 per academic year. Undergraduates past the second year may borrow up to $7,500 per academic year to a total aggregate maximum of $31,000 for all undergraduate education. Graduate students may borrow up to $20,500 per academic year to a total aggregate maximum of $138,500.
Applicants must apply for need-based financial aid using the Free Application for Federal Student Aid (FAFSA). The Office of Financial Aid will then determine the amount of a loan that the student may qualify for and certify student status to the lending institution of the student's choice.
This loan is available to parents of dependent undergraduate students, and to graduate students. The parents (or graduate students) must have no adverse credit history. Parents may borrow up to the cost of education (budget costs minus any financial aid received) and must use the loan funds solely to pay educational costs. The PLUS is a fixed interest rate loan (for loans disbursed after June 30, 2006) that is currently capped at 9%, and parents make monthly principal and interest payments beginning at the time the loan is disbursed. The loan may be obtained through a participating lender (banks, credit unions, and savings and loan associations). For further information concerning this program, contact the Financial Aid Office.
The Federal work-study program makes awards based on financial need. Students are given the opportunity to work part-time, on-campus, while attending school. They can work full-time during the summer and other vacation periods. Under this program, the college pays a portion of the student wages and the government pays the remainder.
Students with Federal work study eligibility have the opportunity to select from a listing of job openings on campus for interviews and hiring. Students are paid every two weeks for work performed until they have earned the total amount of their Federal work study award for the academic year. There are also positions available for summer work.
Student budgets vary depending upon whether the students are dependent or independent, where they live, and the number of credit hours for which they enroll. Sample budgets are shown below and are based on tuition figures for the
Dependent/Independent Off Campus
To determine the financial need of a student, calculate College Costs (Student Budget) and apply Family Contribution against them. If the Family Contribution is less than the College Costs, financial need is established. The Family Contribution is determined by completing the Free Application for Federal Student Aid (FAFSA), including information about income, assets, and non-taxable income.
Students must maintain satisfactory progress in their academic studies in order to receive Title IV (Federal) student financial aid funds and institutionally funded financial aid. Title IV (Federal) student financial aid includes the following programs:
Students Receiving Student Financial Aid Funds
The Financial Aid Office will utilize the College's Academic Standing Policy. In addition, full-time and part-time (undergraduate and graduate) students must complete at least 70 percent of the semester credit hours for which they enrolled to be making satisfactory progress. Any class that appears on the academic transcript as "graded" will be counted toward total credit hours enrolled. Transcript grades include the following:
Additionally, once a student attains sophomore or second-year status, (28 hours and above), the student must maintain a cumulative grade point average of 2.0.
If satisfactory progress requirements are not met, the student will be determined ineligible to receive Title IV student financial aid funds.
Students enrolled in the Professional Bachelor of Business Administration (PBBA) Program will be reviewed for compliance with the Satisfactory Progress Policy using grade equivalencies. Grades of "EX" (Exceeds Project Standards) are regarded as equivalent to "A" level work; grades of "M" (Meets Project Standards) are regarded as equivalent to "B" or "C" level work; grades of "DN" (Does Not Meet Project Standards) are regarded as equivalent to "D" or "F" level work. Grades of "EX" and "M" will be counted as credit hours completed while grades of "DN" will not be counted as credit hours completed.
Timetable For Review
Students' records will be reviewed at the end of each academic year to determine whether they are in compliance with the Satisfactory Progress Policy. The academic year ends with May Term and will include any period of time during the academic year the student was enrolled. Students who have grade changes that affect academic progress after it has been reviewed are responsible for notifying the Financial Aid Office so that their progress may be re-reviewed for compliance. Grade changes, including incomplete grade updates, affecting student eligibility for financial aid must be on file with the Registrar's Office prior to the first date of classes in the next semester of enrollment in order for the student's record to be re-reviewed for satisfactory progress in that semester.
Grade Reports Special Note
The following will not be counted as credit hours completed:
Total Semesters Student Financial Aid Funds
Undergraduate students are eligible to receive financial aid funds for a maximum of twelve (12) semesters while in full-time status, with each summer counted as one-half semester. Graduate students are eligible to receive eight (8) semesters of aid while in full-time status, with each summer counting as one-half semester. Part-time students' eligibility will be extended proportionately. Students pursuing a second undergraduate degree are eligible for four (4) additional semesters after receiving the first bachelor's degree.
After becoming ineligible for student financial aid funds, a student can be considered for receipt of financial aid only when the completion percentage and grade point average requirements have been met.
The Financial Aid Office will notify by letter any student receiving financial assistance who does not meet the satisfactory progress requirement and has been determined to be ineligible for financial aid. The notice will be addressed to the student's most current local address on file at the college. It is the student's responsibility to inform the Registrar's Office of a correct mailing address at all times.
Right to Appeal and Appeal Process
Any student who has been determined to be ineligible for financial aid has the right to appeal. The following appeal process will be utilized:
Federal regulations govern the return of Title IV (federal) financial aid funds that have been disbursed for a student who completely withdraws from college during a term, payment period, or period of enrollment. The regulations operate under the principle that a student "earns" his/her financial aid based on the period of time he/she remained enrolled.
During the first 60% of the enrollment period, a student "earns" Title IV federal financial aid funds in direct proportion to the length of time he/she remains enrolled (that is, the percentage of time during the enrollment period that the student remained enrolled is the percentage of disbursable aid for that period that the student earned). A student who withdraws from college beyond the 60% point has "earned" all Title IV federal financial aid for the period.
Unearned Title IV funds, other than Federal Work-Study earnings, must be returned to the federal financial aid programs. Unearned aid is the amount of disbursed Title IV aid that exceeds the amount of Title IV aid earned under the formula.
The responsibility to repay unearned Title IV aid is shared by the institution and the student in proportion to the aid each is assumed to possess.
The institution's share is the lesser of:
The student's share is the difference between the total unearned amount and the institution's share.
Additional information, worksheets, and examples of return-of-federal-funds calculations can be obtained from the Financial Aid Office.
Institutional refunds are determined on the date that add/drop or withdrawal forms are completed and processed in the Registrar's Office. Refer to the appropriate class schedule for the specific refund schedule for each semester. All institutional charges (tuition, fees, and room and board) are refunded based on the refund schedule.
Notification of Award--Students submitting applications and other supporting documentation are notified by mail whether they will receive aid.
Changes in Financial Status--Students are responsible for reporting any change in family financial resources from extra income, gifts, or outside aid. If the additions reduce the financial need, the award will be reduced. Failure to report additional resources may result in total cancellation of all financial aid. If resources decrease, students may request additional funds.
The college makes every effort to assist its students in securing the financial aid they need to be successful in their studies and career goals, if funds are available.
Employer Reimbursement--Students receiving reimbursement from their employers who apply for need-based financial aid through the Free Application for Federal Student Aid (FAFSA) are required to notify the Financial Aid Office and submit documentation of the amounts to be received.
Withdrawal from College--If a student receiving merit-based aid should withdraw from the college or be suspended before the end of the semester, the student's financial aid award is canceled and all unpaid tuition resulting from the cancellation of the merit-based aid for that semester is due and must be paid immediately.
Incoming students are encouraged to apply for financial aid at the time they apply for admission to the college. Continuing students are reminded to reapply for financial aid each academic year. Financial Aid awards are made on a first-come, first-served basis until all funds are depleted; therefore, it is in each student's best interest to submit application materials as soon as possible after January 1. Regulations and policies for many of the Federal Financial Aid Programs change periodically. For additional information about any type of financial aid, contact the Office of Financial Aid.