UWM Undergraduate Bulletin 2008-2009
FINANCIAL
INFORMATION
UWM Undergraduate Bulletin 2008-2009FINANCIAL
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For the latest Financial and Financial Aid Information, as well as current advising hours, please visit our online area at http://www4.uwm.edu/financialaid.
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http://www.uwm.edu/Dept/FINAID/
Attending college is one of the most exciting and challenging times of your life. The staff in the Department of Financial Aid can help take the challenge out of financing a college education. The staff is dedicated to helping students and their families obtain the maximum amount of financial aid based on the student's eligibility.
Federal student aid programs are based on the idea that the student (and parents or spouse, if applicable) has the responsibility to finance his or her education to the extent that he or she is able. To determine eligibility for aid, the student completes the Free Application for Federal Student Aid (FAFSA) and submits it to the Central Processor, where an expected family contribution (EFC) is calculated. This information is transmitted electronically to all schools listed on the student's FAFSA. Each school will evaluate the information based on attendance at their school and mail the student an award letter. The award letter indicates the amount of assistance the student may receive from each financial aid program.
A student qualifies for need-based aid if the total cost of attendance, including tuition and fees, allowance for room and meals, transportation, books and supplies and personal miscellaneous expenses, is greater than their EFC. Students who do not qualify for need-based aid may still be eligible for a non-need-based loan. In addition to demonstrating need, a student must maintain satisfactory academic progress, be a United States citizen or an eligible non-citizen, be admitted to the University, and, in most cases, attend UWM on at least a half-time basis.
Financial aid falls into three broad categories, any or all of which may be offered to a student as part of his or her financial aid package: grants (gift aid that does not need to be repaid), loans (money borrowed at low-interest that must be repaid), and work-study (a program that provides employment opportunities for students). Each package is designed for a student, and takes into consideration the needs and circumstances of that student.
The Financial Aid Office coordinates the following major federal and state financial student assistance programs:
Federal Programs. Pell Grant, Academic Competitiveness Grant, National Science and Mathematics Access to Retain Talent (SMART) Grant, Supplemental Educational Opportunity Grant, Work Study, Perkins Loan, Bureau of Indian Affairs Grant, Nursing Loan, Subsidized Student Loan, Unsubsidized Student Loan, Parent PLUS Loan, and Graduate PLUS Loan.
Wisconsin State Programs. Higher Education Grant, Talent Incentive Program (TIP) Grant, Indian Grant, Lawton Undergraduate Minority Retention Grant, Academic Excellence Scholarship, Minority Teacher Forgivable Loan, and Study Abroad Grant.
For additional program information, including maximum award amounts and eligibility criteria, please see our website at www4.uwm.edu/financialaid.
Application Dates. Students applying for financial aid are encouraged to do so between January 1 and March 1 to receive the best aid package available. Many programs have a limited amount of funding, and aid is awarded on a first-come, first-served basis. In most cases, it will take a minimum of one month from the date the FAFSA is submitted to complete the process of applying for aid and receiving an award letter. Applicants waiting until after July 1 to file a FAFSA or submit loan applications will most likely experience longer processing times. Although you are not required to complete a new FAFSA each year, you are asked to update key data elements by submitting a Renewal Application for each year you wish to apply for aid.
Scholarships. Numerous scholarship opportunities are available through the Financial Aid Office, academic departments, and UWM Foundation. For a complete listing of all campus scholarships, as well as a copy of our Freshman Scholarship Brochure, please refer to our website: www4.uwm.edu/financialaid. Applications for scholarships posted outside the Financial Aid Office are available in our office. For all other scholarships, you should request an application from the contact person listed.
University and federal regulations require that a student be making academic progress toward a degree to be eligible for financial aid. All academic progress standards must contain the following components.
Students are required to maintain the standards set by the Financial Aid Office in order to remain eligible for aid consideration. A complete copy of the standards is available on our website at www4.uwm.edu/financialaid.
Students may be eligible for military educational benefits if the criteria are met under one of the programs listed: Montgomery GI Bill - Active Duty, Montgomery GI Bill - Selected Reserve, Veterans Educational Assistance Program, Vocational Rehabilitation, and Dependent Educational Assistance. Wisconsin veterans may also be eligible for educational assistance under the Veterans Education Grant Program and the Wisconsin G.I. Bill. The Wisconsin G.I. Bill also allows for tuition and fee waivers for eligible spouses and children of Wisconsin veterans who are deceased or 30 percent or more disabled. For detailed information about each program, please refer to the UW-Milwaukee Military Educational Benefits link on the financial aid website.
Members of the National Guard also may be eligible for tuition reimbursement under the National Guard Tuition Grant Program. Guard members should contact their unit for additional information on eligibility.
To determine qualifications under these programs or to apply, contact the Veterans Affairs personnel in the Military Educational Benefits Office (located east of the Financial Aid Office) in Mellencamp Hall, Room 168A, by phone at (414) 229-6392, or via email at vets@uwm.edu.
Rates. The base undergraduate fees/tuition rate for Wisconsin residents during the 2007-2008 academic year was approximately $6,957 for a full-time (12-18 credits) student. The full-time rate for nonresidents was approximately $16,685. These tuition amounts do not include the differential tuition charged for some programs; additional special course fees for online/distance education classes; or special course fees related to materials, equipment rental or field trips. Consult the Schedule of Classes for the fee/tuition rates currently in effect.
Payment Options. Students make a financial commitment when registering for classes at UWM. Those who register prior to the start of classes must either 1) pay full fees/tuition; 2) have been awarded sufficient financial aid to cover their full fees/tuition; or 3) make the minimum payment by the tuition due date for the upcoming term (fall and spring terms only). Students who fail to satisfy their fee obligation by the due date will have their classes cancelled and will have to re-register during the late registration period. Those who choose to make the minimum payment will be placed on the University Credit Agreement that permits the remaining balance to be paid in installments.
Those students wishing to take advantage of the Installment Payment Plan are required to sign a University of Wisconsin-Milwaukee Credit Agreement and a Wisconsin Marital Property Act Credit Application Form. See the Bursar's Office website at www.bfs.uwm.edu/fees/ for information and to print the Credit Agreement form required for the installment plan.
Students who have been awarded sufficient financial aid by the due date to cover their full fees/tuition will not have to make the minimum payment. Students awarded financial aid for less than their full fees/tuition will need to pay their balance in full by the tuition due date or they will be placed on the University Credit Agreement to avoid cancellation. Late aid applicants also will have to make the minimum payment (or pay their fees/tuition in full) to avoid cancellation.
Those students registering close to the tuition due date must make their minimum payment plus pay all outstanding financial obligations that are past due before they are allowed to register. Please see the Bursar's website (http://www.bfs.uwm.edu/fees/) for the exact date requiring the minimum payment before registration is allowed. If you are only auditing classes and your full fee is less than $200, that full fee is due before being allowed to register. A "hold" preventing registration will be released within two hours after payments are posted to your PAWS account.
NOTE: It is recommended that students check their financial services account on PAWS to make sure they have no outstanding financial obligations that are past due. If there are past due obligations, the minimum payment will be applied to those charges first. This may result in cancellation for nonpayment for the current semester.
Due Date. Payment is due on the date specified on the fee statement/invoice. For the fall semester, this will generally be during the second week of August, and for spring semester, during the second week of January.
Payments on PAWS. To review your account, view payment due dates, or make payments online, select the "Finances" option on PAWS at www.paws.uwm.edu. All PAWS charges may be paid with webCheck, an electronic check payment option for which no fee is charged. For more payment options, visit the Bursar's website at http://www.bfs.uwm.edu/fees/.
Excess Credit Surcharge. University of Wisconsin System policy stipulates that undergraduate students who accumulate more than 165 total credits at UW System schools or Wisconsin technical colleges while working on their initial undergraduate degree may be subject to a 100% tuition surcharge. See Excess Credits Policy for additional information.
University Credit Agreement. The Bursar's Office administers the credit agreement payment plan, primarily for students who do not have sufficient funds at the start of the semester to pay in full. (Students receiving non-work-study financial aid sufficient to cover their full tuition are not eligible for this plan.) There is no membership fee; however, a finance charge of 1 percent per month will be assessed on any unpaid balance. For more information about the payment plan, contact the Bursar's Office, Mitchell 295, phone (414) 229-4914, or see the Bursar's Office website at www.bfs.uwm.edu/fees/.
Cancellation for Nonpayment. As outlined above, students who register prior to the start of classes must currently make at least the minimum required payment by the due date to avoid cancellation of their classes. Students who re-register after cancellation or who register after the due date may also owe late registration and late payment fees. These students must pay the minimum before enrolling.
Withdrawal. A percentage of the fees/tuition assessed is charged for withdrawal beginning with the tuition due date. Nonattendance does not constitute withdrawal. Students who fail to formally withdraw in writing or drop all courses online via PAWS will remain responsible for full fees/tuition and will be subject to failing grades. In accordance with UW System policy, proof of withdrawal rests with the student.
Students' financial aid eligibility will be recalculated if they withdraw, are dismissed, or take a leave of absence prior to completing 60 percent of the semester. The recalculation is based on the equation "aid minus earned aid equals unearned aid." Unearned aid is returned to the funding source. When unearned aid for institutional costs is returned, students may incur a tuition, housing or food service balance with the University. If students need to repay unearned aid for noninstitutional costs, they will be contacted by the Department of Financial Aid.
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