Application Procedures
Award Letter Explanations
Renewal of Aid
Changes to Enrollment Status/Housing Status
Communicating with the Office of Financial Assistance
Summer Courses, BS/MS Programs, Part Time Studies
How do I apply for financial assistance?
New
Freshman, Returning Sophomores and Juniors, and Transfer students for the 2012-2013 academic year will need to
submit the 2012-2013 FAFSA, College Board
PROFILE, and
2011 U.S. or Puerto Rico tax returns and W-2 forms. All other undergraduate and graduate
students will need to submit the 2012-2013 FAFSA,
VU Institutional Application for Financial Aid, and the 2011 U.S. or Puerto Rico tax returns
and W-2 forms.
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Where do I get the applications for Financial Assistance?
If you are a high school student, the FAFSA form is available on the web at
www.fafsa.gov
and the CSS PROFILE is available on the web at
http://profileonline.collegeboard.com.
Upperclass students will be sent a Renewal FAFSA email if they previously completed
a FAFSA on the Web. Additionally, a VU Institutional Application for Aid will be sent to all
students who previously applied for aid and began at Villanova prior to
2010-2011. If you do not receive an institutional
application you can download one
here.
Returning students who began at Villanova during the 2010-2011 academic year
will need to complete a Renewal FAFSA and a CSS PROFILE.
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What are your application deadlines?
The 2012-2013 FAFSA form and the 2012-2013 CSS PROFILE and all appropriate tax
documents must be received by February 7th for incoming Freshmen, March 1st for
New BSN Express students, November 1st for Spring Transfer students, or
June 1st for Fall
Transfer students. Returning Undergraduates who began their academic career at
Villanova prior to 2010-2011 must submit the FAFSA and the VU Institutional
Application for Aid
including appropriate tax documents received in our office by April 30th.
Returning undergraduate students who began their academic career at Villanova
during the 2010-2011 year must submit the FAFSA, CSS PROFILE, and appropriate
tax documents by April 30th. See
the Key Dates page for more information.
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What if our taxes will not be completed by your deadlines?
Although we encourage you to complete your tax returns before completing the
application process, we understand that sometimes this is not possible. You may
use estimated data on the FAFSA and/or CSS PROFILE form. However, if we do not
receive your tax return before the award is presented to you the award is
tentative and is subject to change once we receive actual tax returns for the
prior year. Once we receive your completed tax returns the file will be
reevaluated and aid may be adjusted, if necessary.
We recommend you submit your completed tax return to the Office of
Financial Assistance as close to the deadline as possible if you are not able to
meet the deadline to avoid receiving a tentative offer and the potential of a
change to your need based award. Please
note that we cannot extend the deadline for submission of the FAFSA and/or CSS
PROFILE due to taxes not being complete. Failure to file these forms by the
published deadlines may result in a reduction or elimination of your need based
assistance.
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Do I need to apply for assistance before I know if I have
been admitted?
Yes. The majority of our students are notified of admission status on or about the
third week of March. This is after our deadlines for both the FAFSA and the CSS
PROFILE for Freshman and Transfer Students. You may apply after these deadlines; however, we cannot
guarantee that institutional and/or certain Federal funds will remain available.
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What is
Villanova's Title IV School code and the CSS PROFILE School Code?
The Title IV school code for the FAFSA is 003388 and the CSS PROFILE School
code is 2959.
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What if
I want to apply for assistance at more than ten schools? The FAFSA only lets me
list ten at a time.
We ask that Villanova be one of the first 10 schools listed. However, if Villanova
is not listed on the FAFSA, you may replace one of the other schools listed on your
Student Aid Report. You may do so by making the change directly on your paper Student
Aid Report and returning it to the Central Processor by calling 1-800-433-3243,
or by making the corrections on-line.
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What do I do
if I feel that I have a "special circumstance?"
If there is anything you feel should be brought to our attention, contact our office
in writing so we may have a record of these circumstances. Depending on the circumstances,
we may be able to use this information in determining financial need.
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I just
received my Student Aid Report (SAR). The Processor says I need to make corrections.
How do I do this?
Make any necessary corrections online at
www.fafsa.gov. Sign in using your Social Security Number, Last Name,
Date of Birth and PIN. All corrections will be sent to Villanova
University electronically.
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What if I do not want to file the College Board PROFILE?
Students who choose not to complete the CSS PROFILE form will
only be considered for federal and state assistance, and will not be considered
for any Villanova University Grants. We encourage all Freshmen,
Returning Sophomores and Juniors,
and Transfer students who are interested in admission for the 2012-2013 year to
file the PROFILE.
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I'm only interested
in merit-based money. Who do I contact?
Scholarships at Villanova are typically selected by committees formed by the
Office of University Admission. Students are encouraged to complete the
financial aid application process, but it is not a requirement in order to be
considered for a scholarship. Preference may be given to students who have
a demonstrated financial need.
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When can I expect
to receive the tuition bill?
Student account billing is presented electronically.
The bill for the Fall semester usually is available through the Bursar's Office
webpage before the 10th of July and is due around August 10. The bill for the
Spring semester is available in mid-November and is due around December 10.
More information on billing and many other subjects may be found in the Parents'
Handbook at
www.parents.villanova.edu or on the Bursar's site at
www.bursar.villanova.edu.
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What is the Financing Option on my award letter?
The Financing Option on your award letter is the estimated amount that
students/families will be responsible to contribute to their education. The
dollar amount is the difference between the cost of attendance and the financial
assistance awarded to the student. This portion can be financed through the
monthly payment plan (TMS), a Federal Direct PLUS loan (parent loan) and/or an
alternative educational loan. The Villanova University web page has more
details about this option.
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What is Work Study?
Work Study is a need based financial assistance program that allows students to
work on campus during the academic year. Students receive a paycheck bi-weekly for
hours worked. Funds for work study are paid directly to the student and are not
credited to the tuition account.
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Can work-study earnings be applied to my bill?
Villanova University does not accept monthly or weekly payments; therefore, your
bi-weekly earnings from Federal Work-Study can not be applied to your tuition
account. Federal Work- Study is paid bi-weekly directly to the student in the
form of a paper check mailed to their on-campus mailbox or by direct deposit. We
strongly recommend direct deposit for efficient payment of your Work Study
earnings.
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Am
I required to work during my freshman year?
Work-study jobs are included in financial aid packages, and most students elect
to work ten to twelve hours a week. However, if you elect not to work, you may request
an alternative loan in lieu of all or part of your work-study job.
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How can I keep track of my total loan debt?
All students can track their loans that have been processed and disbursed on
myNOVA under the Financial Aid Services section. On this site you will be able
to see your total awards/loans for each year. This site will tell you when your
loans have been certified and disbursed to your account.
Additionally, the federal government’s National Student Loan Data System (NSLDS)
is a repository of all sorts of information on federal loans and grants that you
receive at all schools, so if you have attended more than one college or
University or plan to track your loans after you graduate, NSLDS is a valuable
resource. You can access NSLDS at
www.nslds.ed.gov.
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What is the minimum GPA for consideration or renewal of
Financial Aid?
Financial assistance awarded by our office is based solely on financial
need. However there are minimal requirement per Federal regulations for renewal
of need-based financial aid. Our satisfactory academic progress policy requires
a 2.0 GPA and completion of 24 credits each year. Please review all requirements
for any merit based aid the student may receive as these requirements differ and
are much stricter. There may be a different GPA or other academic requirements
you need to satisfy for the renewal of any Scholarships/Merit-Based aid.
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What happens
to my financial assistance in my second year? Does Villanova reduce the grant automatically?
Villanova University has a commitment to our students. Therefore, if the financial
need does not change in the second year, the grant will remain the same. However,
since circumstances may change either for better or worse, we evaluate financial
need every year.
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Will I receive the same financial aid for all four
years?
Your Financial Aid Award usually remains consistent over the four years of your
education assuming your financial situation remains consistent. However,
Financial Aid is reevaluated every year. Financial Need is calculated by both
Federal Methodology (FAFSA) or College Board PROFILE and Institutional Methodology (Villanova
University). Federal Methodology, determined by the calculation of the
information submitted on the FAFSA application is used when awarding Federal
PELL, Federal Supplemental Education Grant, Direct
Loans, and Federal Perkins/Nursing Loans. Institutional Methodology is used when
awarding need-based Villanova Grant. This means a recalculation based on untaxed income,
businesses/farms, sibling in graduate school, and sibling enrolled in college on
a part-time basis.
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How do outside scholarships affect my financial aid award?
At Villanova University outside scholarships are considered a resource and must
be included in the students overall financial aid package. We will allow
students to retain their outside aid if financial need has not been met. If a
student’s need is met we will reduce the student loan debt, then reduce their
Federal Work-Study. However, once those options are exhausted we are required to
reduce Villanova Grant/Scholarship awarded to the student.
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On myNOVA I see that my cost of attendance allows for
charges for room and board but I am living off campus?
The cost of attendance (the budget) is the figure that is reported to the
Federal Government to reflect allowable indirect as well as direct billable
costs to attend Villanova University. Check your billing screen on myNOVA to
determine your direct billable costs for which you are responsible to pay. The
cost of attendance is the maximum amount that students/families can borrow, minus
any financial aid that the student is awarded.
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How does living off campus affect my financial aid award?
Because most Villanova students are not guaranteed housing in their fourth year
the Office of Financial Assistance will review, process, and disburse your aid as an on campus
student, you will see that your total cost of attendance will still include a
meal and housing allowance. The only difference is that when living off campus
(not residing at your parents home) you are paying rent to a landlord. In this
case students often receive a refund from our Bursar’s office. This refund can
be used for rent and meals (room and board).
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How does studying abroad affect my financial aid?
Because student’s who are on Study Abroad are charged the University tuition,
Financial assistance is allowed to be used for fall and spring Study Abroad
programs. However, the non tuition charges are recalculated according to the
cost of the individual Study Abroad program. This could mean a reduction in some
financial aid. We encourage students to visit our office before making a final
decision on your study abroad program. While most of your aid is able to be
retained there are some sources that cannot be used.
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How will my financial aid be affected if I withdraw?
Federal aid is reviewed under a federal process called “Return of Title IV
Funds." The premise is
that even though aid is packaged before the beginning of the semester, the aid
is actually earned through being enrolled. The percentage of the semester that
a student remains enrolled correlates to the percentage of federal aid “earned”
as of that point.
For example, a student withdrawing at the 20% point in the
semester has only earned 20% of the federal aid awarded, thus is at risk of
having 80% of the federal aid returned. This may in some cases result in a
fairly large balance, as tuition is adjusted according to a different schedule.
See the Bursar’s Office website,
www.bursar.villanova.edu for more information about tuition adjustments for
withdrawal.
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What happens to my financial aid if I become a
Residential Assistant (RA)?
Because Residential Assistants receive a stipend for their room and board we
need to include assistance received as an RA in the overall financial aid
package. This could mean that some changes are made to the student’s financial
aid. Students are encouraged to meet with a Financial Assistance Counselor
before making their final decision regarding the acceptance of an RA position.
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If I drop to a part-time student will that affect my
financial aid?
Yes it will affect your financial aid. If you begin a semester full-time and
then drop to half-time, aid will need to be adjusted and some sources reduced or
canceled entirely. In general we only
offer Federal PELL grant (to those who are eligible), Direct Loans,
and Alternative (Private Bank) Educational Loans to our part-time students.
Villanova Grant assistance is not offered to students enrolled on a part-time
basis, however, Villanova Grant consideration may be given to students who were
enrolled as a full time undergraduate student, but are now last semester seniors
enrolled in at least nine credits. Students are encouraged to meet with a
Financial Aid Counselor before making a final decision to go to a part-time
status.
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What if I
need to speak to a financial assistance counselor?
Usually your questions can be answered by any one of our student services representatives.
However, if there are special circumstances that you would like to discuss with
an administrator, you may ask for an appointment by calling our office at
610.519.4010 and speaking with one of our representatives.
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How does the Office of Financial Assistance send
communications to the students?
Freshmen are notified by access to their
myNOVA account as well as an
official award letter from our office prior to the start of classes. Once
classes begin, all communications regarding the financial aid award is made via
email and myNOVA. Upperclassmen receive emails to their Villanova email account
informing them to check myNOVA for their financial award. Overall students are
expected to consistently review myNOVA or their Villanova email accounts for
any updates pertaining to financial assistance.
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If my account states that I have a credit balance when
will I receive my refund check?
A refund will be automatically processed if Federal Funds for the
semester exceed the semester charges. Refund checks are mailed to the student’s
permanent address unless a direct deposit account has been created. Students
can create a direct deposit account by accessing “Bursar Links” under the
Student tab in their myNova account. Students can also request a refund by
contacting the Bursar’s Office at 610-519-4258.
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Will my financial aid cover my summer courses?
Financial aid is not applicable to the summer term with the exception of the
Federal Pell Grant. However, parents can apply for the Direct PLUS loan to cover the summer educational expenses and/or
students can apply for an educational alternative loan for this time period. BSN
Express students and graduate students are also an exception and Direct
Loans can be certified for the summer term.
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I have been accepted into the 5 year BS/MS Program.
How will my financial aid be affected?
Need based financial aid is awarded for 8 semesters as a full time, day
undergraduate student. In your last year, you will be considered a graduate
student and would only be eligible for the Federal Direct
Subsidized/Unsubsidized Loans of $20,500 an
academic year unless you are provided a graduate assistantship.
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What about financial aid for adult or part-time students?
As a part-time matriculated student, you would be eligible for certain forms
of aid if you registered for at least 6 credits each semester. This would
include Federal Pell Grant, PA State Grant
(for Pennsylvania residents) as well as Direct Loan. In addition, all part-time students have the option
of utilizing our alternative tuition payment plan and/or other alternative
loans. Financial aid forms and information on federal or state grants, loans,
and scholarships are available through the Office of Financial Assistance
610-519-4010, www.finaid.villanova.edu.
Although students enrolled on a part-time basis are not eligible for Villanova
University Grant, there are a limited number of scholarships available to
part-time students. Please access our website at
www.parttime.villanova.edu for
the latest information.
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