Student Financial Planning

Loan amounts are returned according to the terms of the promissory note. 1. Amounts to be returned by the student to federal grant programs will receive a 50% discount. Providing each student with the information given in this policy; 2. Identifying students who are affected by this policy and completing the Return of Title IV Funds calculation for those students; 3. Returning any Title IV funds that are due the Title IV programs.

Refunds and adjusted bills will be sent to the student’s home address on file in the Registrar’s Office following withdrawal. Students are responsible for any portion of their institutional charges that are left outstanding after Title IV funds are returned.

Wingate University’s responsibilities in regard to the return of Title IV funds include: 1. Providing each student with the information given in this policy; 2. Identifying students who are affected by this policy and completing the Return of Title IV Funds calculation for those students; 3. Returning any Title IV funds that are due the Title IV programs.

The student’s responsibilities in regard to the return of Title IV funds include: 1. Becoming familiar with the Return of Title IV policy and how complete withdrawal affects eligibility for Title IV aid; 2. Returning to the Title IV programs any funds that were disbursed directly to the student and which the student was determined to be ineligible for via the Return of Title IV Funds calculation.

The procedures and policies listed above supersede those published previously and are subject to change at any time.

The Wingate University Office of Student Financial Planning welcomes the opportunity to help students and their families who seek information on scholarships, grants, student loans, and on-campus employment. All students who plan to apply for financial aid must complete the Free Application for Federal Student Aid (FAFSA).

Many financial aid programs are awarded based on need as determined by information submitted on the FAFSA. To receive maximum consideration for all available financial aid programs, the FAFSA should be filed by May 1 prior to each academic year for which a student wishes to be considered for financial aid.

Financial aid programs vary, as do the needs of students. Grant assistance is gift or entitlement aid and carries no repayment obligation. Student loans are long-term, low interest loans, which may be repaid after the student completes his or her education. Many students obtain jobs on the campus and are paid monthly for hours worked.

Financial assistance is awarded in a package which may include one or more of the financial aid programs. All financial aid awards, including athletic, academic, and outside scholarships are coordinated through the Office of Student Financial Planning. The total financial assistance awarded will never exceed the costs related to attending Wingate University.

Scholarships, grants, and student loan proceeds may be applied to the cost of attending Wingate University and are generally credited directly to the student’s account.

Scholarships awarded by Wingate University may be merit or need-based. Scholarships are considered undesignated and therefore may be applied to tuition, fee, or room and board costs in no specified order. Earnings from campus jobs are paid directly to the student; therefore, they are not used as a credit toward the student’s account.

North Carolina Need-Based Scholarship: The Need-Based Scholarships for Students Attending Private Institutions of Higher Education Program, also known as the North Carolina Need-Based Scholarship Program, was established by the 2011 General Assembly to provide need-based scholarships for North Carolina students attending private institutions of higher education. Wingate plays a role in administering the program on behalf of the students that it enrolls. Funds for the support of the program are contingent each year upon appropriations made available to Wingate by the North Carolina General Assembly.

Federal Pell Grant: The U.S. Department of Education determines eligibility using the FAFSA.

Federal Supplemental Grant: Awards from this federal grant program are made to students who receive the Federal Pell Grant based on the availability of funds.

Loan Programs: Students and parents can use the Direct Loan program for all federal student and parent loans. The Direct Loan program is funded by the federal government, and students and parents can borrow directly from the federal government.

Federal Direct Loan Program (subsidized/unsubsidized): This federal program provides long-term, low-interest loans to students. Per academic year, first-year students are eligible for up to $5,500; sophomores, $6,500; and juniors and seniors, $7,500. Payments may be deferred if the student is enrolled at least half-time (six hours). Information is available through the Office of Student Financial Planning or at www.studentloans.gov. Students whose parents are denied a Federal Direct PLUS loan may receive up to an additional $5,000 in unsubsidized Stafford.

Federal Work-Study: In this joint federal-university program, part-time work-study employment is made available to students. Students work an average of 10 hours per week and receive payroll checks monthly.

Note: All of the above programs require filing of the FAFSA.

For families who do not qualify for federal or state financial assistance or whose financial assistance does not cover the entire cost of university attendance, there are several alternatives. Some of these are listed below (contact the Office of Student Financial Planning for more information).

Monthly Payment Plan: The payment plan allows Families to spread the cost of tuition, fees, room, and board out across the semester. There is a $35 fee to participate in the plan each semester; however, there is no interest charged throughout the year. The first installment of the payment plan, along with the $35 enrollment fee, is due by the main due date for each semester. The remaining payments are due by the first day of each following month throughout the course of the semester. A fee of $10 will be assessed for each late payment.

Federal Direct (PLUS) Loan: The Department of Education makes available the Federal Direct PLUS Loan for parents of undergraduate students. Interest rates are fixed, and are determined on July 1st for the following academic year. Repayment begins after the loan has been fully disbursed.

Private Alternative Loans: Federal law requires colleges to certify private education loans using the borrower’s choice of lender and the guarantee agency used by that lender. Based upon this law, you can choose any lender, including one that may not appear on the list provided. This list includes lenders that students at Wingate have historically used in obtaining private educational loans. Note: Wingate University does not accept any

Academic Scholarships are awarded to qualified undergraduate applicants who have been admitted to Wingate University’s Main Campus. After admission to the University, the academic credentials of each student are reviewed to determine scholarship eligibility. Students are notified of their scholarship award by the Office of Admissions immediately, with the exception of the Irwin Belk Scholarship. Belk recipients are notified in January. A separate scholarship application is not required.

Academic Scholarships are renewable for a maximum of eight semesters of undergraduate study. Recipients must maintain satisfactory progress standards as outlined by the individual scholarship criteria. Students are considered for the highest level scholarship based upon their qualifications; thus, only one of the following academic scholarships will be awarded at the time of entry into Wingate University.

Irwin Belk Scholarships, our most competitive scholarships, are available to exemplary entering first-year students. Recipients are typically in the top 10% of their high school graduating class, have above a 4.20 weighted high school GPA and have an SAT score above 1950 (or an ACT score above 30). Irwin Belk Scholarships are limited and meeting minimum requirements for consideration does not guarantee receipt of an Irwin Belk Scholarship. Recipients must enroll full-time and must maintain satisfactory academic progress requirements as outlined in the University Catalog.

Trustee Scholarships are available to outstanding entering first-year students. These scholarships are awarded to students who have above a 4.2 weighted GPA. Scholarship recipients must enroll full-time and maintain satisfactory academic progress as outlined in the University catalog.

Presidential Scholarships are available to exceptional entering first-year students. These scholarships are awarded to students who have above a 3.60 weighted GPA. Scholarship recipients must enroll full-time and maintain satisfactory academic progress as outlined in the University catalog.

Academic Merit Scholarships are available to entering first-year students based on academic achievement and leadership. Merit Scholarships are awarded to students who have above a 3.00 weighted GPA. Scholarship recipients must enroll full-time and maintain satisfactory progress requirements as outlined in the University catalog.

Gateway Scholarships are available to entering first-year students based on demonstrated achievement and involvement. Scholarship recipients must enroll full-time and maintain satisfactory progress requirements as outlined in the University catalog.

Transfer Scholarships are awarded to transferring students entering one of Wingate University’s undergraduate programs. Recipients must have demonstrated academic success at other colleges and universities and have a minimum of 24 college credit hours of acceptable transfer work. Scholarship recipients must enroll full-time and maintain satisfactory progress requirements as outlined in the University catalog.

The Legacy Award is an annual award available to entering first-year students or new transfer students. To qualify, the student must be a son, daughter, grandson, granddaughter, niece, nephew, or sibling of a Wingate alumnus. Eligible students will receive a $1000 grant during each academic year.

Music scholarships, based on a performance audition and academic achievement, are awarded upon admission. The student must perform two contrasting selections representing an advanced level of study. For more information about the scholarships and the audition dates, contact the Department of Music.