Cost and Aid Timeline Updates for Fall 2020
We are looking forward to welcoming students back to campus in person in August 2020. In order to remain flexible and provide you with the most accurate information, Student Financial Services has adjusted the cost and aid details for Fall 2020. so you are aware of these changes. We're here to help if you have questions or concerns: email@example.com or 630.752.5700 or Schedule an Appointment with SFS.
Financial Aid Verification Policy
What is Verification?
As part of the financial aid application process, some students are selected for what is termed “verification”. This means that we are requesting additional information to verify the information provided on the FAFSA or on the institutional application / CSS Profile. Not all students will be asked for the same information. In addition, the need to verify is assessed each year, so a student may be selected one year but not another. Or, a student may be asked to submit the same information each year. Either way, the goal is to have an accurate assessment of a family’s financial situation. Finally, at any point in the award processing, if we find it necessary, we may require additional information. Read full policy...
Financial Aid Satisfactory Academic Progress Policy
What is Satisfactory Academic Progress?
When you receive federal or state financial aid, their guidelines require that you make real and measurable progress toward your degree in order to continue to receive federal or state aid. This requirement is called Satisfactory Academic Progress (SAP). Note that institutional scholarship and aid programs may have specific eligibility or renewal requirements in addition to the minimum requirements of the SAP policy.
Special Provision for Books and Supplies
By the seventh day of a payment period, upon request Pell Grant-eligible students may obtain books and supplies required for the payment period through a bookstore voucher if:
- Ten days before the beginning of the payment period, the student meets all the student eligibility requirements. (Note: A student who has not completed the verification process, has an unresolved “C” code on the SAR, or has unresolved conflicting information is not covered by this provision.) and
- Disbursement of those funds would have created a credit balance in federal student aid funds.
The amount provided is the lesser of the presumed credit balance or the actual amount determined that the student needs to obtain the books and supplies.
Financial Aid Eligibility for Approved Off-Campus Study
A student’s enrollment in an Approved Off-Campus program may be considered enrollment at Wheaton College for the purpose of applying for federal and institutional financial assistance. Students make application for Approved Off-Campus enrollment through Global Programs and Studies (GPS). Approved Off-Campus enrollment will only be available for students enrolling in a program included on the list of approved programs, which is available through the GPS Office. Students selecting a non-approved program will have an inactive Wheaton status and be required to file a returning student application for readmission through the Admissions Office.
Students granted Approved Off-Campus status are eligible for both federal and institutional grants, scholarships, and loans. Determination of institutional need-based grant award amounts are capped at on-campus award amounts. Wheaton College provides institutional scholarship and grant funding for these programs in an effort to increase study abroad participation by our students as part of our Strategic Priority to Globalize a Wheaton Education.
Federal Title IV Funds - Withdrawal Policy
Federal Title IV financial aid funds are awarded to a student under the assumption that the student will attend school for the entire period for which the assistance is awarded. When a student withdraws, the student may no longer be eligible for the full amount of Title IV funds that the student was originally scheduled to receive. Read full policy...
Student Agreement Form
The following information is important for all students. If you have any questions, please contact the Student Financial Services Office.
Appeal Procedure Explanation
The following information is for families considering appealing the determination of financial need.
Financial Aid Budget
|Direct Costs Per Year*|
|Avg Room* (Rates)||$5,800|
|Total Direct Costs||$45,030|
|Indirect Costs Per Year (estimated)**|
|Total Indirect Costs||$2,700|
|TOTAL DIRECT AND INDIRECT
(Amount used to determine financial aid)
*Direct costs will be billed by Student Financial Services. These do not include any extra course fees such as Conservatory fees. Room and board costs may vary depending on options chosen.
Exception: Room is not a direct cost when a student is living off-campus.
**Indirect costs are estimated and will not be billed by Student Financial Services. The actual costs may be greater or lower depending on the individual situation.
Financial Aid Budget
The financial aid budget above includes the costs that are used in determining financial aid eligibility.
Billed costs are the costs that are billed directly through the Student Financial Services Office.
Payment Plan Budget
The budget used when participating in the payment plan should only include billed costs. The payment plan budget is NOT the same as the Financial Aid budget.
Situations with Modified Financial Aid Budgets
The undergraduate financial aid budget costs in the table above represent the most common student situation at Wheaton College. The following scenarios are examples of when the costs used in a financial aid budget are adjusted. Most of these adjustments are to indirect costs, meaning they are estimates of average expenses only. The financial aid budget used for each student can be viewed at their my.wheaton.edu account.
- Personal/Misc. is estimated at $1,900 instead of $1,300 for independent undergraduate students.
- Room and Board is estimated at $3,300 instead of $9,840 for undergraduate students who live at home with parents, relatives, or under other rent-free arrangements during the school year. This is an estimate of indirect expenses; room and board is not paid to Wheaton College in this situation.
- Students in the Conservatory of Music have estimated average course fees of $2,600 added to the their financial aid budget.
- Students in the College of Arts & Sciences completing a BA in Music have estimated average course fees of $2,300 added to their financial aid budget.
- Transportation is estimated at $2,400 instead of $600 for dependent undergraduate students whose parents live outside the 48 contiguous United States.
- Tuition and book costs are lower for students enrolled less than full time.