Financial Aid Terms and Conditions
Terms and Conditions
Terms
Cost of Attendance
Cost of attendance refers to the total cost of attending an institution for a full academic year (August-May). Cost of attendance is made up of direct and indirect costs. Some are billed directly to the student's WVU student account while others are estimated values that could be billed from outside WVU.
Direct Costs
Direct costs are those billed by WVU and will show on the students account in STAR. These costs include:
- University Tuition
- University Fees
- College Tuition
Indirect Costs
Indirect costs can be billed by WVU, but can also be billed by third-parties (i.e. landlords for students living off-campus). For students who are not being billed for these charges by WVU these figures are estimated. These costs include:
- Room
- Meals
- Transportation
- Personal Expenses
- Books and Supplies
Free Application for Federal Student Aid (FAFSA)
The Free Application for Federal Student Aid is the annual application submitted by the student that will allow the school(s) to evaluate that student's eligibility for federal and some state financial aid programs. The FAFSA provides an Expected Family Contribution (EFC) amount after the student applicant answers a series of questions. The EFC is not the amount of money WVU expects the student or family to pay, but rather it is used as an indicator of financial need for certain financial aid program eligibility. The online version of the FAFSA for the next academic year opens on October 1 of the current academic year and can be found at fafsa.ed.gov.
When submitting the FAFSA, it is important to make sure you log into the FAFSA using the student's FSA ID and the parent is using their own FSA ID to sign the FAFSA. The FSA ID is a unique identifier to the individual is it assigned to and as such should be used to reference the correct individual. If you have not already requested an FSA ID, you can do so at fsaid.ed.gov under the "Create and FSA ID" tab.
Gift Aid
Gift aid is considered to be the financial aid that does not have to be paid back (i.e. scholarships and grants).
Scholarships
Scholarships are a form of gift aid awarded based on different eligibility criteria outlined by the awarding party and does not have to be paid back. Many scholarships are merit-based awards while others could be need-based awards. Information about WVU institutional scholarships can be found on our Scholarships page.
Grants
Similarly to scholarships, grants are gift aid funds that are awarded and do not require repayment to the awarding entity. Grants can be federally funded or funded by a state or third party. Grants like the West Virginia Higher Education Grant are funded and awarded by the West Virginia Higher Education Policy Commission where the Federal Supplemental Education Opportunity Grant and Pell Grant are regulated by federal guidelines and awarded at the institutional level to those who are eligible. More information about grants and their requirements can be found on our Grants page.
Self-help Aid
Self-help aid are funds that will have to be worked for or paid back. This includes loans and Federal Work-Study.
Federal Work-Study
Federal Work-Study is a need-based program (as determined by the Estimated Family Contribution calculated by the FAFSA) in which funds are awarded for use on indirect costs that are associated with the yearly cost of attendance of attending WVU. Work-Study awards a yearly amount to students who are eligible that they must work an eligible part-time job to receive. Students will still receive a paycheck directly. You can view more information about cost of attendance and indirect versus direct costs further down on this page. Also, more information about Federal Work-Study can be found on our Federal Work-Study page.
Loans
Loans are funds that are available both federally and privately that are borrowed with the understanding they will be paid back with interest over a set period of time. Loans may be offered to students and can be accepted or declined in the student's STAR account for the full or a partial amount. For detailed instructions on how to view and accept/decline your aid, please refer to our Accept or Decline Aid page. Federal student loans are available in four different types:
- Federal Direct Unsubsidized Loan: Loans offered to students as a result of submitting a FAFSA and being otherwise eligible for Title IV financial aid
- Federal Direct Subsidized Loan: Loans offered to students based on need exhibited by the EFC submitted on the FAFSA and who are otherwise eligible for Title IV financial aid
- Parent PLUS Loan: Available to parents of dependent students who are seeking additional funds to cover the student's educational expenses. These loans require a separate application that can be found at studentaid.gov under the "Parent" tab. Since this loan would be borrowed in the parent's name, it is important to remember to use the correct FSA ID that is assigned to the parent.
- Graduate PLUS Loan: Loans available to students who have previously earned a Bachelors degree and are pursuing a Masters or Doctorate degree. These loans have a higher interest rate than Federal Unsubsidized Loans so graduate students are encouraged to submit a FAFSA prior to pursuing a Graduate PLUS loan.
Private student loans are available for undergraduate and graduate students and their interest rates and repayment terms differ based on the lender.
For more information on different loans that are available and how to compare which option is best for you, go to our Loans information page
Entrance Counseling
Entrance Counseling is one of a two-part requirement for any first-time Federal Direct Loan borrower before the loan can disburse (or pay out) to the students account and pay towards their remaining balance. Entrance counseling can be completed at studentaid.gov.
Loan Agreement/Master Promissory Note
A Loan Agreement or Master Promissory Note (MPN) is the second portion of the two requirements that must be satisfied before a Federal Direct Loan is ready to pay towards a student's account balance. A Loan Agreement (MPN) can be completed at studentaid.gov.
Conditions
Satisfactory Academic Progress (SAP)
Satisfactory Academic Progress (SAP) is the set of academic standards students must maintain in order to be eligible for Title IV financial aid. Title IV financial aid includes Federal Direct Loans, Pell Grant, Federal Supplemental Education Opportunity Grant, and Federal Work-Study. The requirements listed below must all be satisfied in order to be eligible for these types of aid.
- Maintain a GPA of at least 2.0
- Have at least a 67% completion rate based on the number of credit hours attempted versus the number of earned hours
- Be within 150% of the maximum time-frame it takes to complete your degree. If a program requires a minimum of 120 hours of coursework, the student is expected to complete that degree within 180 hours to maintain their Title IV aid eligibility.
Students who need to appeal these standards can refer to our Satisfactory Academic Progress page for more information.
Aid Adjustments
Students' aid is subject to adjustments based on changes to enrollment, overawarding of aid based on cost of attendance, or new aid resources that were not originally brought to the attention of the Mountaineer Hub. If the student is receiving a new source of aid, they should inform the Mountaineer Hub via online request.
- Overawards
- Enrollment Changes
Overawarding can occur when a student's cost of attendance is less than the amount of aid they are eligible to receive. The cost of attendance functions as the budget by which financial aid can be evaluated, and aid can only be awarded up to that amount. If the total aid eligibility is greater than this budget, adjustments are necessary to align the amount of financial aid to the budget set by the cost of attendance
Changes to enrollment can lower a student's cost of attendance. With that decrease, students should expect to see aid adjustments to equate more accurately to the lowered cost of attendance. More information is available on our Enrollment Standards page.
Pell Limits
The Federal Pell Grant is a need-based program that awards gift aid to students based on the EFC calculated on their FAFSA. This funding can only be awarded to a student up to their 600% Lifetime Eligibility amount. Lifetime Eligibility Used (LEU) is the total amount of Pell Grant used by the student up to the review. Students could receive up to 150% of the LEU if they are enrolled full-time in the fall and spring semesters as well as being full-time in the summer. Students who are interested in being considered for the additional 50% should be sure to have the following year's FAFSA submitted as this will assist in the review process. More information about Pell limits and Lifetime Eligibility Used can be found at studentaid.gov on their Calculating Pell Grant Lifetime Eligibility Used page.
Defaulting on Federal Student Loans
If a student has previously borrowed federal loans and after no longer being enrolled in school has subsequently defaulted on their loans, that student will not be eligible for additional student loans until the defaulted loan has received six (6) consecutive monthly payments and is no longer in default status.
Graduation or Withdrawal
Exit Counseling
If the student has borrowed Federal Direct Loans during their collegiate career and have withdrawn or are expecting to graduate, they will be below half-time enrollment. As a result, exit counseling must be completed. The initial information regarding this requirement was stated in the Loan Agreement/Master Promissory Note signed by the student before funds could be borrowed. Exit counseling explains the guidelines, time frame, terms and plans surrounding repayment of student loans. This information will be essential in planning your finances after college. Exit counseling can be completed at studentaid.gov.
You can find more information about exit counseling on our Exit Counseling page.
Repayment Obligations
By borrowing loans to fund your college education, you are agreeing to the obligation to repay that which you have borrowed. If you are unable to do so, you should reach out to your loan servicer and discuss possible options with them to avoid delinquency or defaulting on your loans. Default can occur if there has been no payment made on your loans for nine (9) months. Borrowers should remain in contact with their loan servicer throughout repayment.
Understanding Terms and Conditions
Please remember to read all emails from WVU Mountaineer Hub sent to your MIX email address.
I understand that my eligibility for financial aid is reviewed based on state and federal regulations and the aid that has been offered to me is the aid I am eligible for after considering all the information submitted to the Mountaineer Hub via my FAFSA, verification documentation, previously accepted aid, and my enrollment.
I understand that I am responsible for the balance that remains on my student account after all financial aid has paid towards my initial balance.
I understand that in order to maintain eligibility for the aid I receive, I must adhere to the standards for Satisfactory Academic Progress and the criteria set by the state or institution for renewal of grants and/or scholarships.
I understand that any additional financial resources I expect to receive should be reported to the Mountaineer Hub and can prompt an aid adjustment.
I understand that if I withdraw from WVU or stop attending mid-semester, I am entering repayment for any student loans that I have borrowed and am required to complete exit counseling as well as uphold the agreement I signed to repay those loans. If I cannot, I will work with the loan servicer directly to coordinate repayment terms.
By accepting the aid offered to you, you are agreeing to the above terms and conditions. If you have any questions about the content on this page, please contact the Mountaineer Hub via online request, phone, or in-person for further clarification.