Need-based Aid

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Source

Eligibility 

Amount 

Comment

 
Wheaton Grant Demonstrated need on FAFSA and Institutional Financial Aid Application  Up to $25,000
(for 2014-2015)
Institutional funding for qualified students.
Wheaton College Restricted Scholarships Demonstrated need on FAFSA and Institutional Financial Aid Application  Varies        Endowed scholarship funds provided by friends of the college, offered to students eligible for Wheaton Grant.
Federal Pell Grant>> High need on FAFSA  $5,645 maximum

Federal Government funding program

See also "Special Provisions for Books and Supplies"

Federal Supplemental Education Opportunity Grant (FSEOG)>> High need on FAFSA, priority awarding to students who are Pell Grant eligible.  $4,000 maximum

Federal Government funding program

FSEOG will be awarded to students from the two categories of those whose date of application is by March 15 for fall term, or January 15 for spring term.

State Scholarships  Residents of IL, PA, VT, RI, DE

Varies

  • IL maximum for 2013-14 is $4,720 
Must apply separately by state deadline
Federal Direct Subsidized Stafford Loan>> Demonstrated need

Up to:

  • $3,500 as Freshman
  • $4,500 as Sophomores
  • $5,500 as Juniors and Seniors
  • Repayment begins 6 months after graduation or 6 months after student drops below half-time status.
  • Fixed 4.66% interest rate on subsidized loans first disbursed on or after July 1, 2014 and before July 1, 2015. Interest paid by the government while student is in deferment and during grace period. 
  • Origination fee of 1.072% for loans first disbursed between December 1, 2013 and September 30, 2014; origination fee of 1.073% for loans first disbursed October 1, 2014 and later.
Federal Perkins Loan>> Demonstrated high need
  • $2,000 max for Freshman
  • $1,000 max for Sophomores
  • $2,000 for Juniors/Seniors who are Pell Grant eligible and parent has been denied for the Parent Plus loan
  • 5% interest rate.
  • Interest paid by the government while student is in deferment and during the grace period. 
  • Repayment begins 9 months after graduation, or 9 months after student drops below half-time status.
  • Up to 10 years to pay back.
Woten Fund Students planning to become missionary doctors or nurses  Amount varies Students will be contacted by the Financial Aid Office
Federal Work Study
Demonstrated need $1,000 initially (may increase depending on the funds available) 
  • Wage paid by the Federal Government.
  • Paycheck given directly to the student.
  • New freshmen and transfers are awarded on a first come, first serve basis by financial aid application.
  • Returning students will be given FWS if they earned funds the prior year.  Those who did not receive FWS the prior year should send notification to the finanacial aid office. Funds will be awarded on a first come, first serve basis.
 

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