Conditions of Financial Aid Awards
CONDITIONS OF AWARD
Students who receive financial assistance are responsible for understanding and agreeing to the following terms and conditions:
- You understand that an offer of financial aid is for the academic year and that offers of financial aid are contingent on the availability of funds. Furthermore, you understand you must re-apply and re-establish eligibility for financial aid each award year.
- As a financial aid recipient, you understand that funds received from an outside source or agency for educational expenses (i.e. scholarships, fee waivers, Voc Rehab assistance, etc.) will be coordinated with all other aid offered and that the coordination of these additional resources may result in changes to the types and amounts of financial aid initially offered by Wilmington University.
- You understand that once financial aid funds are available for payment (typically after the add/drop period ends), financial aid will be credited to your student account to pay for your mandatory fees and any other outstanding obligations related to your educational expenses at Wilmington University for the award year. Your acceptance below authorizes Wilmington University to automatically apply funds from your financial aid the amounts necessary to pay for enrollment fees, other fees, and other educationally-related financial obligations owed to the University. If your financial aid disbursement does not cover the balance due, you are responsible for payment to the University.
- You understand that that financial aid is available for payment only if you have been officially admitted (not provisionally or conditionally admitted), are enrolled in classes during the semester(s) indicated on your award letter, and meet all other disbursement requirements. You understand that financial aid offered is based on full-time enrollment and that payments may be adjusted for part-time enrollment.
- If you are offered student loan funds, you understand that undergraduates must be enrolled in a minimum of six (6) credits in the term, in courses pertaining towards your degree to be eligible to receive loan funds. Graduates must be enrolled in a minimum of 5 credits in courses pertaining towards their degree program in each term in which they receive a federal loan.
- You understand that a condition to receive financial aid requires that you must meet Satisfactory Academic Progress standards according to policies established by the Wilmington University Office of Financial Aid and consistent with federal guidelines. You understand that these policies include 1.) completion of a minimum number of units based on your enrollment status, 2.) an evaluation of academic progress based on cumulative grade point average, and 3.) a maximum time frame for receiving financial aid to complete your degree objective.
- You understand that should you withdraw from classes following payment of financial aid, you may be subject to repayment of funds already received based on the Return to Title IV calculations and you may jeopardize your future eligibility for financial aid due to lack of achieving satisfactory academic progress.
- You understand that you may receive financial aid at only one school for the same period of enrollment.
- You understand that the Office of Financial Aid reserves the right to review, modify or cancel financial aid offered at any time due to changes in your financial status, eligibility for financial aid, or changes in federal, state or institutional fund availability. In addition, your financial aid offered may be void or one or more financial aid program(s) may be canceled or modified if the aid offered was based on any error in determining eligibility or the amount of financial aid offered, whether or not the error was made by you or the Wilmington University Office of Financial Aid.