Financial Aid

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Financial Aid FAQ

We've created some PDFs for some popular financial aid situations:


Other frequently asked questions:

Is this my final aid award?
The aid award you receive from the Financial Aid Office (FAO) is based on the information you provided to us through the FAFSA. It is a final award unless new or additional information is provided to us.

What is verification and why was I chosen?
Verification is a process in which the FAO must confirm that all information on the FAFSA is accurate and complete. Much like an IRS audit, most applications are randomly selected. A few are selected because it appears there may be an error. Each year, at least 30% of all applicants are flagged for verification. For more information about verification, click here.

Do I have to apply for financial aid every year? 
Yes. It is easier after the first year because you will be using a renewal application which already has much of the data from the previous year. 

If I lose a BW merit scholarship one year, can I get it back if my grades improve? No. You have one year to maintain the required grade point average. If you do not do so, the scholarship is lost and not renewed.

Do I lose any gift money if my grades are not good? 
You may lose a portion of BW gift aid if you are placed on Academic Probation, Academic Suspension, Warning Probation, offered Assist Program, or permitted to continue by Board of Appeals. Once the grant has been reduced, it will not be increased to the original amount.

Do I receive the same aid package every year?
Not necessarily. You must apply for aid using the FAFSA every year. Your eligibility for aid is determined by the information on your FAFSA.

Why did I lose my Pell Grant?
Your Pell Grant will change or be lost if your family income or other variables that are part of the formula change resulting in a higher expected family contribution, as determined by the federal processor.

Are my scholarships renewable?
Scholarships are renewable if you maintain the required grade point average - which has been detailed in your scholarship award letter.

What happens to my gift assistance if I receive an outside scholarship?
While we try to completely meet your financial need, it is not always possible. If your need has not been completely met by your aid award package, the outside scholarship can fill in the gap between your need and your financial aid. If your need has been completely met, then the outside scholarship reduces the self-help portion of your aid award, which includes work study and loans. Click here for more information about outside scholarships.

How do I get a work-study job on campus?
It is your responsibility to find campus employment. You may do this by checking a book of job listings in the Student Employment Center, checking job listings on the SEC Web page, or by directly contacting a department of interest to you.

What papers do I need to complete in order to begin work on campus?
You need to have the following papers on file with the Student Employment Center: an I-9 form, a W-4, and an Ohio School Tax District Form.

Can I work on campus if I do not have work-study in my financial aid award?
As a general rule, students without work/study as part of a financial aid award, may work on campus beginning the fourth week of the Fall Semester, if the department with a job opening has non work-study available for student employment.

How do student workers get paid ?
Students are paid every two weeks. You may sign a waiver that will allow your check to be directly credited to your student billing account with the Bursar's Office or you may have the check deposited to your personal savings or checking account.

What if I don't earn all of my work-study award?
Work-study money is not spending money. It is a part of your financial aid package; therefore, any money not earned becomes a part of your family's responsibility.

Do I have to apply for student loans?
You will be sent loan information giving you specific details on applying for student loans. Your financial aid award letter simply provides you with information on loan eligibility. If you wish to actually receive student loan funds, you must complete a loan application.

When do I have to pay back my student loans?
You will begin repayment on Federal Direct Loans six months after graduating or leaving school and begin repayment on Perkins Loans nine months after graduating or leaving school. (The repayment terms of other educational loans may vary.)

What is the difference between a Subsidized Direct Student Loan and an Unsubsidized Direct Student Loan?
A subsidized loan is need based and is interest free while you are in college. An unsubsidized loan is not need based and is not interest free. You must either pay the interest while you are in college or defer it but have the interest accrue.

What is an entrance interview?
The Department of Education requires a college to notify any student who takes out a student loan that it is not free money. It is a loan that requires repayment at a future date.  The entrance interview insures that the student is aware of his or her rights and responsibilities when borrowing a student loan.

Do my parents have to apply for a PLUS and if so, how? 
Parents may choose to pay costs not covered by financial aid by borrowing under the PLUS program, but are not required to do so. We have information on Applying for a PLUS Loan on our web site. 

What happens to my financial aid if I change my campus residency status?
The aid award you receive is based on charges incurred as a resident or a commuter. If you change your residency status, your aid award will also change. If you have an award as a resident, then become a commuter, you will very likely receive a reduced amount of gift aid. This is because part of your living expenses on campus are covered by BW gift assistance.

Where do I sign for my Perkins loan?
You will receive an email with information on signing for the Perkins Loan. If you have any questions, contact Marcia Shaffer at (440) 826-2218 or The Perkins Loan Office is in the Bonds Administration Building (to the right of the Cashier's Office). 

How do I know how much I owe?
The cost to your family may be calculated by subtracting gift aid and self-help from actual billed charges. If you do not use your loan eligibility and/or you do not apply work study earnings to those charges, then you must add those to your family contribution.

What is the federal code?
Every college and university that receives federal money is identified by a code number. The federal code number for Baldwin Wallace University is 003014.

What can I do if I don't have enough money to pay my bill or if my parents won't help me? 
Schedule an appointment with the Financial Aid Office. It is important to resolve any financial problems before the academic year begins.

What happens if family circumstances change after I file the FAFSA?
Changes in family circumstances can change your eligibility for aid. Review the information regarding the Special Circumstance Review/Procedure (#7).

My parents do not claim me on their tax return - am I considered independent for financial aid purposes?
Not being claimed on a parent tax return does not make you an independent student. To be considered independent for financial aid purposes, you must be able to answer "Yes" to at least one question on the FAFSA that pertains to independent status.

How is Financial Aid and Tuition affected by the Add/Drop Period?
During the start of an academic term, BW allows students to add or drop classes as they work out their enrollment schedule for the term. During these few days of adjustment, not too much is happening with respect to the student’s tuition charge and/or financial aid eligibility until the Add/Drop time has passed. 
At this point, the student’s tuition is set for the term as long as no other changes take place. The same thing is true with respect to a student’s eligibility for financial assistance. Usually, the initial Aid Award is based on the student’s intended enrollment plans filed with the Financial Aid Office.  As long as the number of credits being taken conforms to this enrollment plan, the Aid Award eligibility doesn’t have to be changed. However, if the student has indicated that they will be enrolling full-time and they are not full-time by the end of the Add/Drop period, an adjustment in their aid eligibility will occur.  
What happens if I drop a course?
Once the term’s Add/Drop period has passed, the tuition charge and aid eligibility is set and further adjustments in the tuition charge and financial aid eligibility may occur if the student decreases, or perhaps even increases, the number of course credits for which they are enrolled (e.g. going from part-time to full-time status). While the Add/Drop period allows a few days for adjustments to become finalized, once the Add/Drop period has passed, adjustments in the tuition charge as well as in aid eligibility, will occur as credits are either added (part-time to full-time) or dropped (full-time to part-time). In addition, if a student drops courses that take them from three-quarter time to half-time, or less than half time, further adjustments in both tuition and aid eligibility will result. 

What happens if I drop all my courses?
When students drop all their courses for the academic term, their financial aid is subject to federal refund calculations. This process is formula driven and is unique to each case. However, as a general rule, the amount of refund applied to student charges equals the amount of reduction in aid, with all federal aid being reduced first. A student may be required to return already issued federal money to the college. Again, if dropping all course work is necessary, the earlier you do so the more beneficial it will be to the student.

Is aid available to participate in a Study Abroad Program?
Yes. Assuming the cost of the Study Abroad Program is greater than the cost of one semester at BW, then the difference between the two comparable semester charges is covered with extra financial aid. Of this extra amount of aid, one fourth is in gift assistance. Thus, if it cost $2,200.00 more to study in England than to stay at BW for a semester, there would be $550.00 in extra gift aid and $1,650.00 in additional loan assistance. Only one semester of study abroad support is provided by the University.

Who can I call for more information?
BW Office of Financial Aid
(440) 826-2108
Federal Student Aid Report Information 1-800-4-FEDAID

Phone:  (440) 826-2108
Fax:       (440) 826-8048

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