Awarding of Financial Aid
Sources
Campus Based Aid Award
College Work Study
Professional Judgment Appeal
Students must submit the Free Application for Federal Student Aid (FAFSA) annually to receive consideration for most types of financial aid (see the “Applying for Aid” page.) There are both internal and external sources for financial assistance comprised of grant, scholarship, loan and work-study programs.
Sources:
Internal sources include the Board of Governors Institutional Grant, the Federal Perkins Loan, Federal College Work Study, as well as Institutional Long Term Loans and Scholarships. External sources are those residing outside of the University such as federal and private loans and private scholarship programs (see the “Loans” and “Scholarships” pages for more detailed program information.)
Campus-Based Aid Award:
Students who provide parental data on the FAFSA and meet the eligibility criteria will receive a Campus-Based Aid award. Students who do not provide parental data on the FAFSA, or who do not meet the eligibility criteria to receive a Campus-Based Aid award, will be packaged with a Federal Student Loan award.
Providing parental data on the FAFSA enables the Office of Student Financial Aid (OSFA) to equitably award limited institutional funds to students who demonstrate the greatest need for financial assistance. This is consistent with the philosophy that it is the student and family’s primary responsibility to fund a higher education. It also enables OSFA to determine a student’s eligibility for federal Title VII health professions loan programs, Loans to Disadvantaged Students and Primary Care Loans. The Title VII programs require the inclusion of parental data on the FAFSA as a requirement. Providing parental data does not affect a student’s eligibility for federal student loans.
In calculating eligibility for Campus-Based Aid, the Parent and Student Expected Family Contribution (EFC) from the FAFSA are combined. A maximum threshold for the combined EFC is established each year based on the number of applicants and the availability of funds. The initial threshold for 2007-08 is $18,000. The threshold may be increased for students on an individual basis if other extenuating circumstances limit a student’s access to financial resources. These include but are not limited to meeting or exceeding the aggregate federal student loan limits.
Campus-Based Aid Awards are comprised of institutional grant and federal Perkins Loan funds in additional to federal subsidized and unsubsidized student loans.
For the 2007-08 academic year, the Campus-Based Aid award amounts are:
Board of Governors Institutional Grant: $9,000
Federal Perkins Loan: $5,000
College Work Study:
These are federal funds awarded to students to pay wages for on- or off-campus employment. The majority of employment opportunities for medical students are on-campus and a typical annual award is $3,500. College Work-Study is a type of need-based assistance and will be subtracted from a student’s “unmet need” Interested students should contact the Office of Student Financial Aid. Information is also available through the WSU Career Services Office at http://www.stuaffrs.wayne.edu/collegeworkstudyandstudentass.htm.
Professional Judgment Appeal:
The purpose of a Professional Judgment Appeal is to better evaluate the financial situation of students who 1) have extenuating circumstances beyond what can be reported and assessed on the FAFSA, or 2) whose circumstances as reported on the FAFSA have since changed. Students who submit a Professional Judgment Appeal will have their circumstances evaluated on a case-by-case basis. The Appeal Form is available for download from the “Forms” page. |
