How Financial Aid Appears on your Tuition Billing Statement

Students receiving financial aid will be able to view their Authorized Award Amounts directly on their bill BEFORE the funds are actually transferred onto their account.  It’s important for you to understand the following information in regard to the Authorized Aid that will appear on your bill.

What is Authorized Aid?

Authorized Aid is a reflection on your billing statement, of the actual financial aid you will receive for the term.  Authorized Financial Aid is aid that you have been awarded and accepted in the myWilmU Student portal. Student loans are authorized after both Master Promissory Note (MPN) and Entrance Counseling (EC) have been completed and received (electronically) by the university, you are enrolled at least half-time, and your accepted loan(s) have been processed by the financial aid office.  Financial Aid remains authorized until the published funds transfer date for the semester or block.  Once the ACTUAL financial aid is transferred, the Student Payment Office manages any refunds or remaining balances owed.  Authorized aid appears in the WilmU Payment Center as "Estimated Financial Aid".  

Who will see Authorized Aid?

• Students who have been offered and have accepted financial aid for the current academic year.
• Students who have completed all financial aid requirements.
• Undergraduate students enrolled in at least 6 credits pertaining to their degree program for the semester or
• Graduate students enrolled in at least 5 graduate level credits pertaining to their degree program for the semester
• Federal Stafford Loan borrowers who have completed both the MPN and Entrance Counseling

When should I expect to see Authorized Aid?

The Financial Aid Office begins to authorize aid about two-weeks prior to the start of the semester (just before book vouchers become available).  If you've met the above criteria, you should see authorized aid about two weeks before your classes start.  Remember, in the WilmU Payment Center, Authorized Aid appears as "estimated" financial aid.

What aid will I see?

Federal Pell Grant: The amount shown will be based on Full Time enrollment and WILL BE REDUCED prior to disbursement for students enrolled in less than 12 credits for the term.

Federal Supplemental Education Opportunity Grant (SEOG): The amount shown will be based on Full Time enrollment and WILL BE REDUCED prior to disbursement for students enrolled in less than 12 credits for the term.

Federal TEACH Grants: The amount shown will be based on full-time enrollment and WILL BE REDUCED prior to transfer for students enrolled in fewer than 12 credits for the term.

Federal Direct Stafford Loans: Borrower must have an active Master Promissory Note and must have completed Direct Loan Entrance Counseling

Federal Direct PLUS Loans: Borrower must have an active Grad (or Parent) Master Promissory Note and must have completed Direct Grad (or Parent) Entrance Counseling

Institutional Awards and Scholarships (including Athletic scholarships)

State Scholarships and Grants

Private/Alternative student loans

IMPORTANT NOTES

• If your Authorized Aid is removed from your Billing Account prior to aid being transferred to your account, please check the Financial Aid/Bill Pay area in the myWilmU Portal for any additional financial aid requirements or Messages added to your account.
• Scheduled transfer dates for the term.
• In order for actual federal aid funds to transfer to your billing account you must: be enrolled at least half-time in courses pertaining to your degree, and have official attendance recorded for the term.