Southern Wesleyan University is required to verify the files of those students identified by the FAFSA central processing system as those flagged for random verification. Therefore, the student applicant should submit the FAFSA as soon as possible. When the FAFSA has been received by the Financial Aid Office electronically, if the file requires federally-mandated verification procedures, the student will be notified and will need to complete and submit verification paperwork, which includes a Verification Worksheet and a copy of the relevant Tax Return Transcript. The Tax Return Transcript may be obtained from the IRS by phone at 1-800-908-9946 or online at www.irs.gov. The Financial Aid Office is required to certify that all submitted verification paperwork is complete and consistent with the data entered on the FAFSA; in the event that questions may arise in the verification process, certain other documents may be required of the student to substantiate claims or to resolve conflicting information. Compliance with all such requests is necessary, and federal funds cannot be certified or released to a student until verification is complete.
ALL students must submit (in addition to the FAFSA), the following forms to the Financial Aid Office:
- Master Promissory Note (if requesting loans)
- Entrance Counseling (if requesting loans)
Students will not be certified as "financial aid students" until all documents have been received, are accurate (if not complete or inaccurate, documents may be returned to the student for completion), and verification completed (if required). Therefore, students requesting financial aid must have all documents in and all verifications complete BEFORE they begin coursework.
What is Financial Need?
Most aid is awarded based on financial need. To determine financial need, all schools use a common formula: Cost of Attendance (tuition, fees and allowable expenses) minus the Expected Family Contribution (an amount determined by the Department of Education based on information provided on the FAFSA) and minus any other types of assistance that may be received (which would include Pell grants, South Carolina Tuition Grants, veteran’s benefits, and any tuition or scholarship assistance provided by a student’s workplace). Financial aid is designed to help fill the gap between the cost of attendance and the expected family contribution and any other assistance. Financial need will affect the amount of subsidized monies and the amount of unsubsidized monies available through federal loan programs.
Contact Information for the FSA Student Loan Ombudsman's Office
Online assistance: https://studentaid.gov/feedback-ombudsman/disputes/prepare
Toll Free: 877-557-2575
U.S. Department of Education
FSA Ombudsman Group
P.O. Box 1843
Monticello, KY 42633
REFUND POLICY FOR TITLE IV RECIPIENTS
Federal regulations require each educational University to have a written policy for the refund and repayment of federal aid received by students who withdraw during a term for which payment has been received. These policies are effective only if a student completely terminates enrollment (i.e., cancels his/her registration, withdraws, or is dismissed) or stops attending classes before completing 60% or more of the enrollment period.
Students who withdraw during the drop/add period are eligible to receive 100 percent refund of tuition. Following the drop/add period, adjustments to tuition resulting from official resignations are based on the effective date of withdrawal and in accordance with the federally mandated calculation as specified in Section 484B of the Higher Education Act. This law also specified the order of return of Title IV funds to the programs from which they were awarded.
The calculation is based on the period of enrollment completed. That percentage is computed by dividing the total number of calendar days in the term into the number of calendar days completed as of the date of student notification. The percentage of Title IV assistance to which the student is entitled (has "earned") is equal to this percentage of the term completed, up to 60%. If the withdrawal occurs after 60% of the term is completed, the percentage is equal to 100%.
The amount of Title IV aid which must be returned is based on the percentage of "unearned" aid. That percentage is computed by subtracting earned aid from 100%. The University is required to return the lesser of: 1) the unearned aid percentage applied to institutional charges or 2) the unearned aid percentage applied to the total Title IV aid received.
The student is required to return the difference between the amount of unearned aid and the amount returned by the University. The student will be billed for the amount the student owes the Title IV programs and any amount due to the University resulting from the return of Title IV funds used to cover University charges. If the student (or parents in the case of a PLUS loan) is required to return a portion or all of their loan proceeds, the calculated amount is to be repaid according to the loan's terms. Students must return only half the amount of grant funds calculated.
Funds are returned to the following Title IV sources in order of priority:
- Unsubsidized Direct Loans
- Subsidized Direct Loans
- Direct PLUS Loans
- Federal Perkins Loans
- Federal Pell Grants
- Federal SEOG
- Other Title IV assistance for which the return of funds is required
- Other federal, state, or institutional financial assistance
Federal Student Aid Dashboard
The Federal Student Aid Dashboard is a centralized database of all Title IV (federal) aid that a student has received (including Parent Loan information for Parent Borrowers) at all colleges and universities that participate in T-IV aid. For federal loans it also includes servicer contact information.