Awarding Aid on the Basis of Hours Enrolled Your financial aid award will be finalized based on the number of credits for which you are registered. Initially, when determining your need for financial assistance, we assume that you will be enrolled 12 credits (full-time) per semester. This is reflected in the original award notification, which outlines the types and amounts of aid to be received for the period of enrollment. Financial aid based upon enrollment (i.e., Federal Pell Grants, N.J. State Aid (TAG), Federal Loans) will be adjusted during the official drop/add period as changes are made to your enrollment. If you are enrolled less than 12 credits at the conclusion of the drop/add period, your student expense budget and awards will be reduced accordingly, possibly resulting in the cancellation/adjustment of financial aid funds previously awarded and/or disbursed. It is recommended that you consult with a financial aid administrator before you make enrollment changes. Federal programs require at least half-time enrollment and State programs require full-time enrollment. Full-time Half-time Undergraduate 12 credits 6 credits Graduate 9 credits 5 credits Award Notification Entering freshmen who apply for aid on or before April 1 should receive an initial award notification in April or May outlining the amount and types of aid to be received. All upperclass and transfer students who submit their FAFSA on or before April 1 should receive an initial award notification in June. Please review the financial aid award letter carefully. It indicates the types and amounts of aid offered by William Paterson and any additional action required on your part. It provides important guidance for receiving and maintaining your financial aid. The awards indicate the most equitable offer that can be made to you based upon the information you have provided and the funds available to the university. The awards are subject to verification requirements and may be adjusted as tax returns and other documentation are received. Please refer to our Verification Procedures if you are notified that you are selected. The availability of funds from federal and state programs is subject to congressional and NJ General Assembly appropriations and to changes in federal and state legislation and regulations. Understanding Your Award Letter/Definitions The Award Letter displays the financial aid you are eligible to recieve for the academic year. These awards are based on Full-Time attendance. Direct Loans require 6 or more credits for Undergraduate students and 5 or more credits for Graduate students. All NJ State Awards require 12 or more credits. "First Notice" refers to the first or initial award letter sent to you; An electronic "FOLLOW-UP LETTER" indicates a change or adjustment from a previous award letter. Financial aid awards are divided into two equal semester amounts and will be applied to your semester bill. If you are eligible for a Stafford Loan your award letter will indicate the recommended amount you can borrow based upon your class level. Information and instructions on how to apply and sign the respective Master Promissory Notes will be enclosed. Any remaining financial aid due you after your university charges have been satisfied will be sent to your permanent address by check within fourteen days after disbursement of these funds to your account. Disbursement generally occurs three weeks after the semester begins and after attendance is reported by the faculty. You may reserve the right to pay the University directly for any and all charges on your bill in which case all remaining financial aid will be reimbursed to you within the time frames previously noted. Student Employment The award letter typically does not include work study awards initially. If you have expressed interest in our employment programs, please attend the mandatory workshop. Please the Student Employment section of this website. Award adjustments are contingent on eligibility according to program regulations and the availability of funds. Earnings already received from the Federal Work-Study program must be counted when making award adjustments. Adjustments to Financial Aid Awards/Overawards Receipt of outside awards will result in a review of your financial aid package to ensure that no over-awarding of federal or state funds has been made. If you receive an outside award and your financial need has been met with a Federal Supplemental Educational Opportunity Grant (SEOG), Federal Perkins Loan, Federal Work-Study, or Federal Subsidized Stafford Loan, your financial aid award may be reduced dollar-for-dollar by the amount of the award. In accordance with university policy, any student who receives a combination of outside, government and institutional gift aid assistance that exceeds the cost of attendance for the academic year will have institutional funds reduced or canceled so that the total award does not exceed the cost of attendance. To Decline or Reduce a Direct Loan complete the Loan Cancellation/Adjustment Form at:https://idp0.wpunj.edu/idp/Authn/UserPassword . Semester amounts must be equal. Be sure to check that any award changes will not result in a balance due on your term Bill. You will receive a revised award letter each time a change is made that affects the dollar amount of your award. The Billing Statement Each semester, you will receive an e-billing statement via your WPU email address in early July and which will be due the first week of August. E-billing statements will be generated weekly thereafter for students who complete the registration process from July through September. All financial arrangements must be satisfied by the payment due date to secure your classes. The spring semester bills will be sent out in late November and will be due the first week of January. This statement will list the amount of tuition and fees for the semester, room and board charges for students living in residence halls, and other miscellaneous charges you owe to the university. As long as you have met all program requirements, financial aid to be received for that semester will be credited to the bill. If your plans change and you decide not to attend William Paterson, you must cancel your registration. Contact the Office of the Registrar to obtain a Withdrawal / Leave of Absence Form. If charges exceed the amount of financial aid, you may take advantage of one of the University's payment options listed in the next section. If aid is not credited to your account, check to be sure that: *You have completed all of the program requirements. Loan recipients must have completed an Entrance Interview and completed Promissory Notes located on the Financial Aid website: www.studentloans.gov*you are registered for the necessary number of credit hours to receive the funds awarded. Most funds require at least 6 credit hours a semester; however, some scholarships and state grants require 12 credit hours a semester. The above steps must be completed before disbursement of these awards to your account. Should your enrollment change before disbursement, you may lose eligibility for certain programs and, consequently, lose funding. If your account is not correct by the time of arrival on campus for classes, you should come to the Financial Aid Office to resolve the problem. When the problem is resolved, aid will be issued to you, provided you meet all eligibility requirements. After Financial Aid: Payment Options Payments for tuition and fees, room and board are due each semester by dates determined by the Student Accounts Office. You can pay your portion of the bill not covered by financial aid for the semester in one payment or use one of the University's payment plans. Monthly Payment Option The University is offering the Tuition Installment Plan (TIP) as the new interest free installment payment plan. Enrollment is quick, easy and affordable for students and families. The TIP plan enables students or their families to pay interest-free monthly installments on their account toward their tuition, fees, and housing. Many students and families find monthly installments more manageable than one lump payment each semester. The payment plan is not a loan. Therefore, there are no credit checks. It is available for the fall and spring semesters for five, four or three monthly installments (this payment plan is not available for summer charges). You can schedule automatic monthly payments right from your personal checking or savings account. Students need to enroll each semester for the payment plan. There is a small enrollment fee of $25 each semester. Late payments may result in additional fees. You will be able to enroll in TIP once your billing charges appear on your student account. You will be billed for the Fall semester in July after tuition, fee, room and board rates are approved. You will be billed for the Spring semester in November. You will be able to enroll directly on-line in the Bill+Payment Student Account Center at http://www.wpunj.edu/ebill. To login, please enter your student-id# [855#] as your University ID and your student PIN and select "Enroll in a Payment Plan". If you need assistance logging in, please contact the HELP desk at 973-720-HELP. Credit Card Payments In addition to all the above forms of payment, William Paterson University students have the option to make credit card payments via WPConnect. Payment can be made utilizing MasterCard and American Express cards. Processed by TouchNet, the cardholder will be charged a convenience fee of 2.75%. Please contact the Center for Student Services for more information. Withdrawing from Class Both the federal and state governments have issued regulations regarding the distribution of institutional refunds to financial aid recipients and the repayment of cash disbursements of financial aid funds made directly to students. Therefore, the University has adopted the following policies. Refund Policy: Non-Financial Aid Recipients Students not receiving financial aid who formally withdraw from the University, or take an approved leave of absence are subject to the following refund policy - please see the Student Accounts Website for more detailed information. Refund Policy: Financial Aid Recipients (Title IV*) Consistent with federal regulations, the amount of federal aid that must be returned to the federal government is based upon the percentage of time the student remained in attendance during an academic term. Students are entitled to retain only that portion of federal student aid they earned based on the time in attendance. If a student is dismissed, withdraws or stops attending before the first day of classes, all Federal aid is returned to the appropriate program. Students who remain enrolled through at least 60% of the payment period (semester) are considered to have earned 100% of the aid received and will not owe a repayment of Federal Title IV grant funds. When a student has received Federal Title IV funds in excess of their eligibility, it is the student's responsibility to return the unearned funds. William Paterson University policy is to return the unearned funds for the student to the appropriate programs. The Higher Education Act (484) (b)(2)(c), however, requires that only 50%, (one-half), of grant aid received be returned. The University will calculate this amount for student notification. Any Loan funds borrowed must be repaid according to the terms of the Promissory Note. *Title IV funds include, for the purposes of this policy: Subsidized and Unsubsidized Stafford Loans, Federal Perkins Loans, Federal PLUS Loans, Federal Pell Grant, and Federal Supplemental Educational Opportunity Grant (FSEOG), Academic Competitiveness Grant and National Smart Grant. Federal Work-Study (FWS) funds are not included because wages are earned and cannot be returned once earned.