Financial Aid - Your Rights and Responsibilities

Community Administrator posted on ‎09-18-2018 03:19 PM ‎07-28-2023 10:48 AM

 

 

I. PURPOSE

 

This policy provides guidelines for students’ rights and responsibilities as they apply for and receive financial aid.


Scope: This policy applies to members of the Western Governors University (WGU) Community.

 

 

II. REFERENCES

 

  1. Consumer Information
  2. Cost of Attendance
  3. Financial Aid Overview
  4. Institutional Withdrawal Refund Policy
  5. Maximum Loan Eligibility  
  6. Return of Title IV Financial Aid
  7. Satisfactory Academic Progress (SAP)
  8. State Financial Aid Information

 

 

III. DEFINITIONS

 

  1. Satisfactory Academic Progress (SAP): Federal regulations require that all students who receive federal student aid funds maintain satisfactory academic progress (SAP). It is a measure of student progress toward the completion of a degree and is assessed by qualitative (grade-based) and quantitative (time-based) measures. Western Governors University (WGU or The University) evaluates these measures at the end of each completed payment period or term in the student's academic program and at the time of withdrawal from the university.

    1. Qualitative Measure: The University defines demonstrating a competency (a grade of "pass") as a grade equivalent to a “B” or better (3.0 on a 4-point scale). Students receive a mark of "pass" or "not passed" on their permanent academic record for any courses for which they enroll in a term, regardless of whether they attempt an assessment. 
    2. Quantitative Measure: A quantitative measure is the completion of 66.67 percent of all competency units attempted. This percentage is determined by dividing the number of competency units completed by the total number of units for which a student enrolled cumulatively over the student's academic career at WGU. Completing at least 66.67 percent of all competencies means the student is on track to complete the program within the required 150% of the published length of the program measured in competency units.

  2. Cost of Attendance: An estimated cost of a student’s educational expenses for the academic year. The total student aid funds may not exceed the student's COA. The COA components for all federal student aid (FSA) programs include direct and indirect expenses and are:

    1. Tuition and Fees (including the electronic versions of the required textbooks and other learning resources)
    2. Books, course materials, supplies, and equipment
    3. Food
    4. Housing
    5. Miscellaneous expenses (including federal student loan fees)

  3. WGU Community: All WGU employees, students, and other stakeholders.

 

 

IV. POLICY

 

  1. WGU determines a student’s financial aid offer in accordance with the laws, regulations, and appropriations of the U.S. Congress and Western Governors University, and is subject to adjustment or cancellation in the event of changes to these laws or their eligibility.

  2. In applying for and receiving financial aid from WGU, students have the following rights, in no particular order:

    1. Students have the right to privacy. All records and information submitted with a student’s application for financial aid are confidential, and subject to legal requirements concerning disclosure of such information.
    2. Students have the right to know about the refund policies for both WGU and Financial Aid if the student withdraws after the term begins.
    3. Students have the right to request a reduction or cancellation of WGU applying their student loan within 14 days of receiving notice of the funds to their account. Remember that a student loan is a debt that students must repay; students should borrow only what they need.
    4. Students have the right to know specific consumer information.
    5. Students have the right to know what financial aid programs are available to them, including information on all federal, state, and university financial aid programs.
    6. Students have the right to know the application procedures and deadlines for each of the available programs.
    7. Students have the right to know how WGU distributes financial aid and the basis for these decisions.
    8. Students have the right to know how and when WGU disburses financial aid.
    9. Students have the right to know how WGU determined their financial aid eligibility. This includes costs for tuition and fees (e-books and learning resources included), supplies, room and board, and other educational expenses in student’s estimated cost of attendance. It also includes what resources WGU considered in the calculation of their financial aid eligibility (such as parental contribution and other financial aid or personal assets).
    10. Students have the right to know the interest rate of their loan, the total amount to they must repay, repayment procedures, when repayment begins, and the length of the repayment period.
    11. Students have the right to know how WGU determines whether they are making Satisfactory Academic Progress, and what happens if they are not.

  3. In applying for and receiving financial aid from WGU, students have the following responsibilities:

    1. Students must regularly check their student email account for information from WGU.
    2. If the student is a dependent student, the student must keep their parents or guardians informed of all financial aid requirements and deadlines.
    3. Students must complete all application forms accurately and submit them on time to the correct location.
    4. Students must read and understand all forms WGU request them to sign and keep a copy of each.
    5. Students are also responsible for knowing the financial aid re-application deadlines. Students may see this information at Paying for College with Federal Financial Aid.
    6. Students must always provide correct financial information. Reporting false information is a violation of the law and may be considered a criminal offense.
    7. Students must submit, by the deadline indicated, all additional documentation, verification, corrections and/or new information requested by either the Financial Aid Office or the agencies to which they submitted applications. Some examples include federal tax returns, verification forms, loan entrance counseling, loan promissory notes, and loan exit counseling prior to leaving school.
    8. Students must notify WGU by email (financialservices@wgu.edu) if the information reported on their financial aid applications has changed.
    9. Students must notify the WGU Learner Records office and any lenders if there are changes in their name, permanent mailing address, anticipated graduation date, or enrollment status.
    10. Students must notify WGU by email (financialservices@wgu.edu) if they receive any scholarships or other financial assistance that does not appear on their financial aid offer. Students must accept responsibility for all agreements that they sign.
    11. After completing a Direct Loan Master Promissory Note and any required Entrance Loan Counseling, WGU will disburse the requested loan funds, for which student is eligible, to student’s WGU student account. If student decides to decline any portion of their financial aid, the student must notify WGU by email (financialservices@wgu.edu) and return any related excess or remaining funds within 14 days of notice.
    12. Students must know and comply with the refund procedures of WGU.
    13. Students must show Satisfactory Academic Progress according to established policies and standards of WGU.
    14. Students must notify WGU by email (financialservices@wgu.edu) if they are receiving financial aid for attendance at another institution while attending WGU.
    15. If the student is a recipient of a Federal Direct Stafford Loan, the student must notify the lender should any of the following occur before the loan is repaid:

      1. Student changes their address and/or phone number
      2. Student graduates
      3. Student withdraws from school or is enrolled less than half time
      4. Student changes their name (e.g., maiden to married name)
      5. Student transfers to another university

    16. Students must maintain satisfactory status on student loans. Lenders may require students to complete deferment forms for loans that were previously in repayment. Students who default on their student loans or owe refunds on federal grants are not eligible for any financial aid.

 

 

V. PROCEDURES

 

Not applicable.

 

 

Policy Maintenance Information

 

  • Policy: Financial Aid - Your Rights and Responsibilities
  • Responsible Department: Financial Aid
  • Effective Date: 9/18/2018
  • Approved Date: 9/18/2018
  • Viewability: WGU-Community

 

Policy Action

Date

Authorization

Reviewed

7/1/2022

Annie Reyes

Non-Substantive Revision

4/24/2023

Pilar Hays

Non-Substantive Revision

7/17/2023

Patti Kohler

Non-Substantive Revision

7/26/2023

Patti Kohler

 

Version history
Last update:
‎07-28-2023 10:48 AM
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