2024-25 Financial Aid Offer Guide

Wilkes University does not discriminate on the basis of race, color, national or ethnic origin, age, religion, disability, pregnancy, gender, gender identity and/or expression, sexual orientation, marital or family status, military or veteran status, genetic information or other protected status in its programs and activities. The following person has been designated to handle inquiries regarding the University’s non-discrimination policies: Elizabeth Leo, Esq., Title IX coordinator, who can be reached at 570-408-7788 or elizabeth.leo@wilkes.edu. Or contact the assistant secretary of education, Office for Civil Rights, at 1-800-421-3481 or OCR@ed.gov.

IMPORTANT FINANCIAL AID ANd BILLING dATeS

MAY 1, 2024 Deadline to confirm enrollment with a tuition deposit at wilkes.edu/deposit

JUNE 1, 2024

JULY 10, 2024

If accepting federal direct loans, you can complete entrance counseling and a Master Promissory Note at studentaid.gov.

Families can apply for 2024-25 Direct PLUS Loan for Parents or a private, alternative loan.

Fall bills available on the Wilkes Student Portal

Monthly payment plan open for fall enrollment; first payment due on Aug. 15, 2024.

AUG. 12, 2024 Fall 2024 semester payment due.

OCT. 1, 2024

2025–26 FAFSA open for completion at fafsa.gov; use 2023 tax information.

DEC. 9, 2024

Spring bills available on the Wilkes Student Portal Monthly payment plan open for spring enrollment; first payment due on Jan. 15, 2025.

JAN. 2, 2025 Spring 2025 semester payment due

MAY 1, 2025 Deadline to submit the 2025-26 FAFSA

UNdeRSTANdING YOUR SCHOLARSHIPS AND GRANTS

FEDERAL AND STATE GRANTS

Federal and state grants do not need to be repaid and are awarded based on financial need. To determine eligibility, submit the Free Application for Federal Student Aid (FAFSA) each academic year. For eligibility in subsequent academic years, you must maintain satisfactory academic progress.

Federal Pell Grant: Pell Grants are awarded to undergraduate students who demonstrate exceptional financial need as defined by the federal government. Annual amounts are determined by a student’s level of need and enrollment status. Amounts can change yearly.

Federal Supplemental Educational Opportunity Grant: FSEOG is awarded to undergraduate students with the greatest amount of unmet financial need who also qualify for the Federal Pell Grant. Funds are limited, so not all Pell-eligible students receive the grant.

Pennsylvania State Grant: Pennsylvania residents are considered for this grant if they meet eligibility requirements established by the Pennsylvania Higher Education Assistance Agency and complete the FAFSA each year before May 1 for the upcoming academic year. PHEAA may require additional documentation, as Wilkes University does not determine the amount of this award and simply acts as a liaison between PHEAA and students. The amount listed on the award letter is an estimate of eligibility. Students can view their eligibility and actual award at aessuccess.org.

INSTITUTIONAL GRANTS, AWARDS AND SCHOLARSHIPS

All Wilkes University grants, awards and scholarships apply only to undergraduate studies and undergraduate tuition; they do not need to be repaid. For eligibility in subsequent academic years, you must maintain satisfactory academic progress and be enrolled full-time for a minimum of 12 credits during each fall and spring semester. The FAFSA must be submitted each year to determine grant eligibility.

Institutional aid may be awarded in one or more of the below areas. For details on each type of aid available, please visit wilkes.edu/financialaid.

• Wilkes University Merit Scholarships

• Wilkes University Grants

• Wilkes University Awards

STUDENT FedeRAL LOANS

FEDERAL DIRECT LOANS

Federal Direct Loans are included in your aid offer. Direct loans are issued in your name and must be repaid. To determine eligibility, you must submit the FAFSA each academic year.

The two types of federal Direct Loans for students are:

• Direct Subsidized Loan: You, the student, are not responsible for paying the interest on this loan while in school. You must demonstrate financial need to be considered for a subsidized loan.

• Direct Unsubsidized Loan: You, the student, are responsible for paying the interest on the loan while in school. Financial need is not required to obtain the unsubsidized loan.

The interest rate is 5.50% for undergraduate federal Direct Loans through June 30, 2024.

All federal Direct Loans are charged an origination fee. The origination fee is 1.057% for federal student loans (subsidized and unsubsidized) through Sept. 30, 2024. The origination fee is subtracted from the actual loan amount, and the lesser amount (net) is shown when the loan funds are received by Wilkes. For example, a student who borrows $3,500 in a subsidized loan will see $3,463 disbursed to Wilkes for the 2023-24 academic year.

The 2024-25 interest rate and origination fee will be determined and announced by the federal government on July 1, 2024.

Note: These loans are factored into the financial aid offer, and the net amount of the loan is included in the financial aid calculation on the award notification.

Students who plan to enroll at Wilkes will be required to either accept or decline their student loan(s). Additional details will be provided at a later date.

ADDITIONAL SCHOLARSHIP OppORTUNITIeS OTHER CAMpUS pROGRAMS

STUDENT WORK-STUDY

Earn money throughout the semester by applying for a part-time work-study job to help pay for educational and related expenses.

Federal work-study is awarded to eligible need-based students through the financial award process. Students must complete the FAFSA to determine eligibility. Before applying for a federal work-study job, check your 2024-25 financial aid offer or contact the Office of Student Financial Services to see if you qualify.

If your aid offer does not include federal work-study, you may apply for a job that offers institutional workstudy. Check with the hiring supervisor to make sure that the department has funds available before applying for an institutional work-study job.

For more information and to view available positions, please visit: wilkes.edu/workstudy.

BONNER LEADER PROGRAM

If you have a passion for public service and a desire to be a positive force in your community, Wilkes University’s Bonner Leader program can help you build the skills you need to lead the charge for change. Students will commit to participate in this unique work-study experience that blends community service with enrichment and training activities. High school and transfer students who have already been accepted to Wilkes University are invited to apply. Wilkes will select only eight to ten incoming first-year students via a competitive application process.

Students who are accepted into the Bonner Leader program for fall 2024 will qualify for a Bonner Scholarship of $2,000/year. This will be distributed at the beginning of each semester ($1,000/semester). Earn work-study pay for eight to ten hours of program service, training and reflection each week.

For more information about the Bonner Leader program, additional benefits and how to apply, please visit: wilkes.edu/bonner.

HONORS PROGRAM

Our program partners with faculty, departments and schools and colleges across campus that foster independent research and innovative ideas, study abroad and internship support and other initiatives to build friendships, provide mentoring and link tomorrow’s leaders with those of today. Academically exceptional high school and transfer students who have already been accepted to Wilkes University may be invited to apply to the Honors program.

Students who are accepted into the Honors program may receive educational stipends the first year to support new educational needs and have opportunities for grant funding to support study abroad, research, internship, conference and similar co-curricular experiences outside of class. There are also no additional costs for course overload related to honors work to ease students’ pursuit of their academic ambitions.

For more information about the Honors program, additional benefits and how to apply, please visit: wilkes.edu/honors.

BARRE SCHOLARS PROGRAM

If you’re a student looking for exceptional opportunities to set yourself apart from the crowd and challenge yourself academically, explore Wilkes University’s prestigious Barre Scholars Program. Admitted students with excellent academic credentials may be invited to apply to become a Barre Scholar.

Students who are accepted into the Barre Scholars program may receive an educational stipend to support your educational needs and may be eligible to receive an escalating scholarship that rewards students who remain in the program each year. Barre Scholars also have fees and tuition costs for course overload waived.

For more information about the Barre program, additional benefits and how to apply, please visit: wilkes.edu/barre.

NAMED AND ENDOWED SCHOLARSHIPS

Wilkes University offers over 200 endowed scholarships annually, made possible by the generous support of Wilkes alumni and friends. Most of these scholarships do not require an application and are automatically awarded to full-time students through matching criteria established by donors.

Internal scholarships that require an application or resume will be posted in Today@Wilkes, a list of announcements emailed to students each weekday.

PATH PROGRAM

Through the PATH program, qualifying students who reside in Pennsylvania and were awarded a scholarship or grant by one of PHEAA’s PATH partners may be eligible for additional grant funding. Visit pheaa.org/path for eligibility and additional information.

OUTSIDE SCHOLARSHIPS

We encourage you to search for additional outside scholarships and avoid scholarship search entities that charge a fee for participation. When searching scholarships, make sure that scholarship criteria match your college or personal attributes.

For helpful tips, types of scholarships and a list of popular providers that offer FREE scholarship searches, please visit wilkes.edu/scholarships.

Contact your high school guidance counselor, local civic groups, parents’ places of employment, etc., to inquire about scholarship opportunities.

Wilkes also partners with Scholarship Universe to help our current students easily connect with private scholarships and potentially match with internal endowed scholarship opportunities. After you make your enrollment deposit, you can create an account online.

2024-25 COST OF ATTeNdANCe

Please use this as a guide for financial planning. Wilkes University has determined total cost of attendance for the 2024-25 academic year based on direct and indirect costs for dependent students. All federal, state, institutional and outside funding, in combination with loans and work-study, cannot exceed your total cost of attendance.

Descriptions of the cost of attendance components can be found online: wilkes.edu/financialaid.

dIReCT COSTS

Expenses charged to you by Wilkes University and used when calculating your enclosed award notification These are estimated numbers pending approval by the Wilkes University Board of Trustees.

RESIDENT

Tuition $41,518

General Fee $1,978

Housing & Food $16,166

Matriculation Fee (one time) $135

TOTAL DIRECT COSTS......... $59,797

COMMUTER

Tuition $41,518

General Fee $1,978

Matriculation Fee (one time) $135

TOTAL DIRECT COSTS......... $43,631

INdIReCT COSTS

Estimated expenses that you may incur each year

OFF CAMPUS (Eligible Transfer Students Only)

Tuition $41,518

General Fee $1,978

Matriculation Fee (one time) $135

TOTAL DIRECT COSTS......... $43,631

THE FOLLOWING MAY ALSO IMPACT YOUR COST OF ATTENDANCE AND FINANCIAL AID:

Additional Fees: The general university fee includes charges for technology, student union, recreation, campus clubs and activities. In addition to the general university fee, other fees may be applied depending upon major and/or course registration each semester; these fees may include, but are not limited to parking, laboratory and course fees.

Books: Required undergraduate textbooks, lab manuals and access codes are paid for and will be ready prior to the first day of class. The Colonels Are Covered program is offered in partnership with Barnes & Noble’s First Day Complete®. For details and conditions, please visit wilkes.edu/covered.

Commuter Meal Plan: This is available for an additional fee to interested commuter students.

Wilkes Named and Endowed Scholarships: If you are selected based on donor criteria, these scholarships may be applied towards tuition, but cannot exceed your total cost of attendance. Please note that the awarding of a donor scholarship may reduce other need-based aid a student may have already received.

These costs are included in the cost of attendance for planning purposes but are not billed by Wilkes University.

RESIDENT

Course Materials, Supplies & Equipment $400

Personal Expenses $2,000

Transportation Expenses $1,000

Loan Fee $58

TOTAL INDIRECT COSTS .....$3,458

COMMUTER

Course Materials, Supplies & Equipment $400

Personal Expenses $2,000

Living Expenses $2,850

Transportation Expenses $2,000

Loan Fee $58

TOTAL INDIRECT COSTS .....$ 7,308

TOTAL

OF

OFF CAMPUS

Course Materials, Supplies

& Equipment $400

Personal Expenses $2,000

Living Expenses $10,280

Transportation Expenses $2,000

Loan Fee $58

TOTAL INDIRECT COSTS ... $14,738

FAFSA Corrections and Updates: Any changes or updates made to a FAFSA by the student or Wilkes University on behalf of the student may impact aid eligibility, which would create an adjustment to a student’s financial aid.

Verification: Some students are selected by the federal government for verification, which requires Wilkes University to verify tax and/or personal information against FAFSA filing information and make any necessary changes to a FAFSA on behalf of the student. Students selected for verification are notified by the Office of Student Financial Services by mail and through their Wilkes University email and are provided with verification completion instructions. All requested documents must be submitted to the Office of Student Financial Services within 30 days of the notice. Adjustments to financial aid may occur as a result of verification, in which case students will be notified via email.

ADDITIONAL FINANCING OpTIONS

DIRECT PLUS LOAN FOR PARENTS

A Direct PLUS Loan, sometimes referred to as a Parent PLUS Loan, is a federal direct loan for eligible parents of dependent students. Parents can apply for a Direct PLUS Loan to help pay for their student’s school expenses for a specific semester or aid year. The maximum PLUS loan amount a parent can borrow is the cost of attendance minus any other financial assistance the student receives.

The interest rate is 8.05% through June 30, 2024.

The PLUS loan is charged an origination fee that will reduce the amount of funds actually applied to your account. The origination fee is 4.228% through Sept. 30, 2024. For example, a parent who borrows $5,000 in a PLUS Loan will see $4,789 disbursed to Wilkes University. Repayment of principal and/or interest can be deferred until after the student graduates or is no longer enrolled at least half-time. The parent borrower will undergo a credit check with the U.S. Department of Education.

The interest rate and origination fee for the 2024-25 Direct PLUS Loan for parents will be determined and announced by the federal government on July 1, 2024.

The 2024-25 PLUS loan application will open June 1, 2024. Additional details will be provided at a later date.

PRIVATE/ALTERNATIVE LOAN

Private student loans may be offered through private lending institutions not affiliated with the U.S. Department of Education or Wilkes University. A private loan allows you (with a creditworthy cosigner) or a parent of a dependent student to borrow funds for educational expenses. The applicant/cosigner will undergo a credit check with each loan lender.

To apply for a private loan, contact your bank or credit union or review lender options at elmselect.com. Terms, conditions and interest rates vary from lender to lender. Please note: Wilkes University does not endorse any particular lender on this list.

Students/families should not apply for a 2024-25 private loan until after June 1, 2024. Additional details will be provided at a later date.

WILKES UNIVERSITY PAYMENT PLAN

The Wilkes University payment plan simplifies budgeting by allowing you and/or your family to divide full or partial semester balances into five equal monthly payments for fall (August to December) and, if continued enrollment is desired, five equal monthly payments for spring (January to May). There is no interest fee attached to the plan, but a $25 fee will be charged for each semester you enroll.

You and your family may enroll in the fall payment plan via the student portal beginning July 10, 2024. You must enroll in the installment payment plan prior to the start of each semester. The payment plan may be used on its own or in combination with loans.

FOR MORE DETAILS ON THESE FINANCING OPTIONS

FINANCIAL AID TeRMS ANd CONdITIONS

• Institutionally administered financial aid is contingent upon you enrolling on a full-time basis. Your financial aid offer will be reevaluated if you enroll for fewer than 12 credits per semester. The amount of aid will be divided equally between the fall and spring semesters, unless otherwise noted.

• You must notify the Office of Student Financial Services of any change in your enrollment, financial situation, housing or marital status, as any changes may impact eligibility.

• You agree to notify the Office of Student Financial Services of any aid awarded from sources not shown in the financial aid offer and understand that such aid may result in a reduction of financial aid offered by Wilkes University.

• Need-based aid is not automatically renewable. You must submit a FAFSA each academic year to be considered for federal, state and institutional grants as well as need-based loans. Renewal of awards will be based on continued eligibility and timely completion of all required documents. All need-based aid is awarded on a yearly basis and cannot be awarded all in one semester.

• Wilkes scholarships and awards are limited to eight semesters unless otherwise noted. Appeals for additional semesters will be reviewed on a case-by-case basis. All scholarships and awards are awarded on a yearly basis and cannot be awarded all in one semester.

• Awards funded by state or federal programs are subject to revision due to mandated changes in state or federal regulations or funding levels.

• To receive any qualifying federal Direct Loans, you must complete direct loan entrance counseling and a Master Promissory Note (MPN). Both can be completed at studentaid.gov. If you wish to reduce or decline student loans, you must email financialaid@wilkes.edu with “Decline Direct Loans” in the subject line.

• You must maintain satisfactory academic progress to be considered for financial aid for subsequent years. Progress is reviewed at the end of each spring semester. The progress policy can be found at wilkes.edu/financialaid.

• You are expected to abide by the regulations of student responsibilities as stipulated in the Student Handbook. Failure to do so may result in recalculation of institutional scholarship and financial aid eligibility. The student handbook can be found at www.wilkes.edu/studenthandbook.

• Your need-based aid awarded shall be rescinded if and when incorrect information is revealed on the FAFSA or as a result of verification.