Need-Based Awards
All first-time students who wish to apply for financial assistance based on family need must submit 1) the Free Application for Federal Student Aid (FAFSA) to the Department of Education and 2) the CSS/PROFILE Application to the College Scholarship Service. The FAFSA is required to apply for Federal Pell Grants, Federal Stafford Loans, and the Frank O’Bannon Grant Program Awards for Indiana residents. The FAFSA is available beginning January 1 on the web at www.fafsa.ed.gov and should be completed by the student and his parents or guardians by February 15. The CSS/PROFILE registration and application are available at www.collegeboard.com. You must designate that you want the results of the FAFSA analysis to be released to Wabash College by filling in our code number 001844 and the CSS/PROFILE results by filling in our code number of 1895. Upon receipt of these results, the Wabash Financial Aid Office will take all factors into consideration and by early April will inform the admitted student of the amount of financial aid and scholarships Wabash can offer him.
International students must submit the Foreign Student Financial Aid Form and supporting documentation by February 1. They are not eligible for Pell Grants or state awards mentioned above.
Renewal of Need-Based Awards
All need-based financial assistance is awarded on an annual basis. Students must file a new FAFSA and CSS/PROFILE by February 15 each year they are in attendance at Wabash. In addition to these forms, students and parents must submit any other forms required by the Wabash Financial Aid Office. Need-based financial aid awards will be recalculated each year based upon updated information on the family's financial situation.
Merit-Based Awards
Wabash offers numerous merit-based awards. These awards include Fine Arts Awards and Fellowships, Honor Scholarships, Lilly Fellowships, National Merit Scholarships, and President's Scholarships. These scholarships vary from $1,000 to full tuition plus room and board and are renewable all four years at Wabash College. Each of these scholarships has its own requirements, deadlines, and renewal guidelines. Detailed information about these awards will be mailed out by the Admissions Office or is available on our website: www.wabash.edu.
All questions regarding financial assistance should be directed to the Financial Aid Office. Call (800) 718-9746 or (765) 361-6370.
Expenses
The costs of attending Wabash during the 2005-2006 school year are as follows:
Tuition 22,964
Activities Fee 424
Room & Board 6,728 (based on the 15 meal plan)
Health Insurance 339 (estimate)
(Health insurance is required for all international students and is optional for all others. The insurance fee is payable in-full the first semester.)
If an upperclass student lives in a fraternity, his room and board costs will vary slightly because they are determined by the fraternity, though they will be billed by the Business Office.
Special Note: Room and Board costs and need-based financial aid to underwrite these costs will be adjusted in accordance with the following living arrangements:
Living off campus (commercial housing)—cost and aid reduced $1,000.
Living off campus (with parents or relatives)—cost and aid reduced $2,000
Living off campus, but taking the full meal plan with the college food service—no reduction
Married students (with or without dependents) living off campus and contributing (earning) more than half of their living expenses—no reduction.
Adjustments of room and board costs and financial aid will be by year or semester only (no pro-rata adjustments possible). The student who intends to live in off-campus housing (other than fraternity or dormitory) must notify the Dean's office prior to doing so.
In addition to the charges listed above, it is recommended that each student budget an additional $2,000 per year to cover the following personal expenses:
Books and Supplies $800
Personal Expenses $1,200
The estimated “comprehensive” cost to attend Wabash during the 2005-2006 school year is, therefore, $32,116. You should plan on some increase in charges each year.
In 2005-2006, each semester's bill will include:
Tuition $11,482
Activities Fee $212
(The Activities Fee covers admission to all home athletic contests, subscriptions to all student publications, and admission to all College drama productions and concerts—except certain SSAC-designated “National Acts.”)Dormitory Room & Board $3,364
(Board charges cover 15 meals per week.) All entering students will be billed this amount. Returning students living in fraternities will be billed by the College an amount which is set by their fraternity—not by the College.Health/Accident Insurance $339*
*Will be billed in-full the first semester only and will be charged to all students unless the parent or guardian has filed a waiver of this coverage before September 1.
Billing Information
New students will receive a credit on their first semester bill for the enrollment deposit. Credit for grant and scholarship assistance will be reflected on a student's bill in equal amounts for the fall and spring semesters. Loan assistance must be applied for and students will receive equal credit each semester for the net proceeds of parent and/or student loans. Students will receive a bi-weekly paycheck as they work the Employment Self-Help (ESH) component of their financial aid award. Students have the option to have a portion of their ESH earnings withheld from their paycheck. The total amount anticipated to be withheld from their paycheck for the semester will show as a credit on the student's Statement of Account.
In addition, students in certain laboratory courses are charged, at the end of the semester or year, for losses and breakage of laboratory apparatus.
Students registered in courses that travel during normal vacation periods may be charged an additional fee for room and board while off campus.
Students enrolling in any of the off-campus study programs will be charged a $75 registration fee for each semester they are off campus.
Special students permitted to register for less than a normal full-time course of study are charged a $50 registration fee, plus $3,828 per course.
Late registration: For late registration without excuse, a fee of $25 is charged.
Students' records will not be released until all financial obligations to the College are satisfied.
Payment of Fees
The Wabash College Business Office mails a statement for the fall semester to each student by August 1 with payment due on or before August 15 and by December 15 for the spring semester with payment due on or before January 2. A late fee of 1% interest per month is charged on accounts unpaid after the due date. (The Business Office needs to provide copy which details the calculation of interest that will be assessed for late payment.) Each semester's bill must be paid in full before the student will be allowed to register for classes.
For the convenience of those persons who prefer to pay the fees and charges in monthly installments, the College recommends that families investigate the payment plans administered by Key Education Resources. You pay the company in monthly installments, and the company in turn pays the College. You may obtain brochures and information from the Wabash Business Office or Financial Aid Office, or call:
Key Educational Resources
800 KEY-LEND
Wabash also offers its own Guaranteed Tuition Payment Option which provides parents of students not seeking need-based financial assistance the opportunity to “lock in” the freshman first-semester tuition charge for eight consecutive semesters by paying in full (four times the annual amount) the four-year tuition bill.
In case of failure to register, advance payment of tuition, room and board, activities fee, and health insurance will be refunded. The admission deposit and room and board deposit are non-refundable.
Wabash College Withdrawal Policy
All students must begin the withdrawal process in the Dean of Students Office.
Assumptions
The Return of Federal Funds and Wabash Refund policies assume the following:
A. A student, parent, or funding source will not receive a refund/return of funds greater than the amount the student, parent, or funding source has paid.
B. A student or parent will not owe the College more when withdrawing than their original scheduled payment (gross College charges, excluding insurance, minus financial aid for which the student qualified and completed the application process, including federally required verification), if the student had remained for the entire semester.
C. Refunds/return of funds are first distributed to aid programs, then to the student or parent. Gross College charges include billed tuition, room, board, and normal fees. Additionally, the student is responsible for any outstanding fines or special fees.
Determining Official Date of Withdrawal
The Dean of Students will determine the date of official withdrawal according to federal and other appropriate regulations. The official withdrawal date is the date a student begins the official withdrawal process. This process must be completed and the withdrawal form must be returned to the Dean of Students Office within five business days. If a student can not complete the official withdrawal process for reasons outside of his control (accident, hospitalization, etc.), the Dean of Students will determine the official date. The Dean of Students may choose to use an earlier or later last documented date of academic activity as the official date of withdrawal.
If a student withdraws during a semester without notifying the College, the Dean may use either the last documented date of academic activity (class attendance, exam, etc.), or the mid-point of the semester. A $100 administrative fee will be assessed to students who withdraw from Wabash without official notification.
Return of Federal Funds Policy
Federal regulations require that the amount of “unearned” Federal Title IV funds be calculated on a pro-rata basis for students who withdraw in the first 60% of the semester. These “unearned” Federal Title IV funds must be returned to the appropriate program(s). When calculating the amount of Federal Title IV aid which is “unearned,” all calendar days beginning with the first day of classes through the last day of exams are counted. Any period of 5 days or longer in which no classes or exams are scheduled is excluded from this calculation. After 60% of the semester is completed, 100% of Federal Title IV aid is considered “earned” and, therefore, does not need to be returned.
Example: A student who receives Federal Title IV aid withdraws at the 30% point of the semester. Therefore, 70% of his Federal aid is “unearned” and must be returned to the appropriate program(s). Aid is first returned to federal loans, then federal grants, per federal policy.
The Return of Federal Funds Policy applies to any student who leaves the College during a semester for any reason, including disciplinary action.
Wabash College Refund Policy
The Wabash College Refund Policy applies to all students who withdraw during a semester for any reason. Students leaving Wabash for disciplinary reasons are not entitled to any refund of tuition and fees.
Refund of Tuition and Fees—Students who officially withdraw from Wabash College prior to 4:30 p.m. on the 10th class day of the semester will receive a refund of 75% of tuition and fees.
A student receiving Federal Title IV Student Aid funds who leaves Wabash College after 4:30 p.m. on the 10th class day of the semester will receive a refund of not more than 75% and no less than 40% of tuition and fees (determined on a pro-rata basis). However, if the student leaves Wabash after 60% of the semester is complete, no refund will be made. All calendar days beginning on the first day of classes through the last day of exams are counted when calculating the pro-rata refund. Any period of 5 days or longer in which no classes or exams are scheduled is excluded from this calculation.
Refund of Dormitory Room Charges—Dormitory room charges are generally not refundable at any point in the semester. However, a student receiving Federal Title IV Student Aid funds who leaves Wabash before 60% of the semester is complete will receive a pro-rata refund calculated using the same formula that is used to calculate his refund on tuition and fees.
Refund of Wabash Board Charges—Board charges are refundable on a pro-rata basis throughout the semester when a student withdraws from school. Any period of 5 days or longer in which no classes or exams are scheduled is excluded from this calculation.
Return of Non-Title IV Funds—Wabash-funded aid that is “unearned” is returned to the appropriate Wabash College funds on the same pro-rata basis as federal funds. In most cases, 75% of Wabash-funded aid is the maximum amount returned when a student withdraws.
Financial aid funds from states or other external agencies are returned according to the requirements of the agency awarding the aid. If no requirements exist, all efforts will be made to reduce and/or eliminate Wabash College loans disbursed that semester before disbursing any refund back to the student or parent. Excess funds are first applied toward a student's Wabash College Signature Select loan.
Additionally, no refund will be sent to the student's family until the College is certain no additional charges will be placed on the student's account. Fraternities, music and other academic departments, the library, etc. will have ten business days from the date of withdrawal notification to submit fines, delinquency fees, etc. to the Business Office to be charged to the student's account. After that time, any refund due to the family will be mailed and fraternities, music and other academic departments, the library, etc. will forfeit the right to submit those charges to the Business Office for collection.
A student not receiving Federal Title IV Student Aid funds who leaves Wabash after 4:30 p.m. on the 10th class day of the semester will not receive a refund of tuition and fees and will be required to return “unearned” Wabash-funded financial aid.
A student is limited in the number of semesters he may receive Wabash-funded aid. The semester during which a student withdraws is considered to be a semester of aid “used.”
A sample of the work sheets for calculating refunds and return of federal funds is available in the Financial Aid Office upon request.
Four-Year Guarantee
Beginning with men entering Wabash College as first-time freshmen in the fall of 1999, Wabash guarantees graduation within four years of matriculation at the College. Wabash recognizes the significant financial stress on students and their families when students do not complete degree requirements in a timely manner. Therefore, subject to conditions noted below, Wabash assumes the cost of tuition in excess of eight semesters' continuous enrollment at the College. The student is responsible for room and board charges and other fees. Financial aid is available for students who qualify to help meet remaining costs.
The student is responsible for knowing graduation requirements and arranging his course schedule to complete them. To be eligible for the four-year guarantee, the student must enroll as a full-time student (including approved off-campus programs) for eight consecutive semesters, must complete 34 course credits with a cumulative grade point average of at least 2.0, and must persist in the major(s) first declared during his sophomore year. A student requesting tuition beyond eight semesters must have the support of his academic advisor.
The Ninth Semester Option for teacher certification is exempted from this guarantee and available to teaching candidates under the policy established by the Teacher Education Program.