Types of Aid Available
Grants
Federal Pell Grant – Federal grants awarded to lower income students. Students enrolled less than half-time may qualify for assistance from this program. Awards range from $767 to $7,395 for full-time enrollment during 2023-24. Students may receive additional funds during the summer if enrolled at least half-time. To apply, complete the Free Application for Federal Student Aid (FAFSA). Recipients may receive the federal Pell Grant for the equivalent of six years of full-time enrollment at all institutions.
Federal Supplemental Educational Opportunity Grant (FSEOG) – Federal grant program assisting exceptionally needy students with a preference given to federal Pell Grant recipients. Awards average about $600 a year. To apply, complete the FAFSA by April 30.
State grants – Some states offer grant assistance to their students studying in Pennsylvania. Currently, these include Delaware, Massachusetts, Ohio, Vermont and West Virginia. Maryland residents may receive a state grant if they enroll in a program at Wilson that is not offered in Maryland. Because each state varies in application procedure and deadline, students are advised to check with the financial aid office or their high school guidance counselor for additional information.
Students who do not apply for their home state’s grant program will not receive the full amount of assistance for which they qualify. Their financial aid package will contain a gap equal to the amount of state grant assistance they would have received if they had applied on time. Students must file the FAFSA form annually for state grant consideration. Pennsylvania state grants are awarded based on need to Pennsylvania residents seeking their first undergraduate degree who are enrolled at least half-time. Awards for 2023-24 range from $700 to $5,750. Students should file the FAFSA according to the printed deadlines.
Wilson grants – Awarded to students with financial need who are enrolled on a full-time basis. Funds are made available through the College’s endowment and special gifts. A list of endowed scholarship funds appears later in this catalog and online at www.wilson.edu/scholarships. To apply, complete the FAFSA and all supporting documentation as requested by the financial aid office by April 30. No separate application is required.
Loans
Federal Direct Parent Loans for Undergraduate Students (PLUS) – Federal loans designed to help parents meet educational expenses not already covered by financial aid. Like federal Direct Loans, federal Direct PLUS Loans are available through the federal government and require a credit check. If a parent is denied a Direct PLUS Loan, the dependent student may borrow an additional $4,000 from the unsubsidized federal Direct Loan. Federal Direct PLUS borrowers may borrow the difference between the student’s cost of education and any financial aid already awarded. The interest rate is fixed at 8.05 percent, effective July 1, 2023. The interest rate is reset annually.
Repayment begins within 60 days after the final loan disbursement for the loan term. However, parents may arrange deferred payment through their lender. Wilson College is required to notify student or parent borrowers in writing whenever it credits the student’s account (via electronic funds transfer or EFT) Stafford or PLUS Loan funds. This notification will be sent to borrowers no sooner than 30 days before and no later than 30 days after the College credits the student’s account. Student or parent borrowers have the right to cancel all or a portion of the loan by informing Wilson College’s financial aid office of their wishes, in writing, within 30 days after the date of the College’s loan disclosure notice.
Subsidized Federal Direct Loan – Federal need-based student loans available through the federal government for undergraduate students. The federal government pays the interest while the student is enrolled. Generally, loans are repaid over a period of up to 10 years, although other repayment options are available. Interest begins accruing during the grace period. Repayment begins six months after the student graduates, withdraws or drops below half-time enrollment status. To apply, complete the FAFSA annually. The federal Direct Loan Master Promissory Note can be completed online at https://studentaid.gov/mpn/. First-time borrowers must complete entrance counseling. Starting July 1, 2013, new subsidized federal Direct Loan borrowers are limited to three years of eligibility for an associate degree and six years for a bachelor’s degree of full-time enrollment or the equivalent as a part-time student. The interest rate is fixed at 5.49 percent, effective July 1, 2023 for loans originated prior to October 1st, 2023. The interest rate for unsubsidized federal graduate Direct Loans is 7.05 percent effective July 1, 2023
Unsubsidized Federal Direct Loan - Federal loans not based on financial need are available to students enrolled at least half-time. These loans are the same as subsidized federal Direct Loans except that the student is responsible for paying interest charges while in school and during the period of deferment. The student borrower may let the interest accumulate until repayment begins. Unpaid interest, at the time repayment begins, will be added to the principal of the loan. The application process is the same as for the federal Direct Loan Program described above. The interest rate as of July 1, 2023, is fixed at 5.49 percent and will be reset annually.
On-Campus Work Opportunities
Wilson College provides part-time employment opportunities for students during the academic year in many different positions. Work sites may be related to a student’s major, such as in the fitness center, chemistry lab or equestrian center. Other students may work in the library, tutor students or provide literacy programs within the community. Students work eight to 10 hours per week. The work schedule is often flexible and can be arranged around the student’s classes. Students must complete the FAFSA annually and indicate on the form that there is an interest in participating in the work-study program. All student workers will complete an online orientation. Information about all available work sites will be available after completing payroll documents. The priority deadline for consideration is April 30 although funds may be exhausted much earlier.
Federal Work-Study (FWS) – Federally funded on-campus work program for students who demonstrate financial need. Students who prefer not to work through the FWS program, or who wish to work fewer than 10 hours per week, may be able to borrow additional money through one of the loan programs.
Institutional Work-Study (IWS) –On-campus jobs provided to students not eligible to work under the FWS program, such as international students and those who do not qualify for need-based aid.
State Work-Study Program (SWSP) – Full-time students from Pennsylvania who receive a PA State Grant may be eligible for campus employment through the SWSP in a position related to her or his major. Summer employment opportunities may also be available for students. Pennsylvania residents must complete the FAFSA by May 1st each year to be eligible.