Financial Aid

Virginia Wesleyan believes that no student should be denied the opportunity to attend because of limited financial resources. The Financial Aid staff is available to counsel with students and their families regarding financial assistance.

Students who demonstrate financial need may qualify for grants, low-interest loans, and the work-study program. To be considered for financial aid, students must submit the Free Application for
Federal Student Aid (FAFSA), which is available from the Financial Aid Office, from the high school guidance counselor, or online at http://www.fafsa.ed.gov. Financial aid is granted on an annual basis, and each student’s need is re-evaluated each year. First preference is given to applicants who meet the March 1 priority mailing deadline.

Virginia Wesleyan also offers academic scholarships, without regard to need, to entering freshmen and transfer students with outstanding academic records.

Satisfactory Academic Progress Standard for Financial Aid Eligibility

All continuing students must be making satisfactory academic progress to be considered
for financial aid, which includes Pell Grants, Supplemental Grants, Federal Work Study, Perkins Loans, Stafford Loans, and PLUS Loans; as well as institutional funds such as faculty and staff tuition remissions, ministers’ dependent grants, Christian Service, need-based grants, etc.

Full-Time Students

•    Full-time students receiving financial aid are allowed six academic years (an academic year is two semesters plus one summer) to complete the bachelor’s degree.
•    Full-time students must successfully complete a minimum of 22 semester hours in any single academic year (fall, Winter Session, spring, and summer).
•    Full-time students must also maintain an acceptable grade point average as follows: a student classified as a freshman must have a minimum cumulative GPA of 1.6; a sophomore, 1.8; a junior, 2.0; and a senior, 2.0.

A student whose cumulative grade point average is below the minimum is considered to be making satisfactory progress if he or she has earned the required number of semester hours and maintained a grade point average of 2.5 for the immediate past semester.

Part-Time Students

Part-time students receiving financial aid are expected to progress at proportionately the same rate as full-time students. They are limited to 12 academic years of aid eligibility.

Transfer Students

The satisfactory progress of transfer students receiving financial aid is based on a student’s class status at the time of enrollment at Virginia Wesleyan. Total enrollment at all institutions is limited to six years of equivalent full-time enrollment. Previous enrollment is assessed only on the hours transferred for credit to Virginia Wesleyan.

Probation and Warning Period

At the end of each semester, all students receiving financial aid are evaluated for satisfactory academic progress. Any student who is not maintaining satisfactory progress is automatically placed on probation and e-mailed a letter of SAP Status. If the student fails to meet SAP requirements the next semester, a warning letter is e-mailed and the student is placed on warning for the following semester.

Suspension of Aid

A student who is not making satisfactory academic progress at the end of a warning period receives a letter indicating termination of financial aid for the following semester. The student may use the summer session or the next semester without aid to regain eligibility for financial aid for the following semester.

Appeals

Students who believe extenuating circumstances led to their unsatisfactory progress may appeal their warning period by writing a letter of appeal to the Financial Aid Committee, c/o the Financial Aid Office. The letter must explain why the student was unable to meet the minimum standards (i.e. illness, death in the immediate family, serious injury) and outline a plan for achieving those standards in the future. The Financial Aid Committee will review the case and notify the student of its decision in a timely manner.