Financial Aid Policies & Procedures

As active institutional members of the National Association of Student Financial Aid Professionals (NASFAA), the Financial Aid employees at UVA wise have historically prescribed to the NASFAA Code of Conduct. The Code is intended to help guide financial aid professionals in carrying out their obligations, particularly with regard to ensuring transparency in the administration of the student financial aid programs, and to avoid the harm that may arise from actual, potential, or perceived conflict of interest.

The Higher Education Opportunity Act of 2008 legislated requirements which prohibits a conflict of interest with the responsibilities of an officer, employee, or agent of the school regarding Title IV loans.

The term “employees” refers to any of the school’s officers, employees and agents who are employed in the financial aid office or who have responsibilities with respect to student loans or who have responsibilities with respect to student loans related to Title IV education loans or private loans for educational purposes.

The Code of Conduct establishes that

• Employees shall not enter into any revenue-sharing arrangement with any lender where the lender provides or issues a Title IV loan to the student or student’s family in exchange for the school recommending the lender or the lender’s loan products in exchange for a fee or material benefit including profit or revenue sharing that benefits the school or a school’s employee or agent.
• Employees shall not solicit or accept any gift in the form of gratuity, favor, discount, entertainment, hospitality, loan, service, transportation, lodging, meals, reimbursement, or other item having a monetary value of more than a de minimis (nominal) amount from a lender, guarantor, or servicer.
• Employees must not accept any fee, payment, or other financial benefit (including the opportunity to purchase stock) from a lender as compensation for any type of consulting arrangement or other contract to provide services to a lender or on behalf of a lender.
• The school shall not request or accept funds from any lender for private education loans including funds for an opportunity pool loan to it students in exchange for the school providing promises of a specified loan number or volume or a preferred lender arrangement for educational loans.
• Employees shall not accept or request any assistance with call center or financial aid office staffing from any lender except as allowed by law.
• Employees who serve on an advisory board, commission, or group established by a lender, guarantor, or group of lenders or guarantors, shall be prohibited from receiving anything of value from the lender, guarantor, group of lenders or guarantors. However, the employee may be reimbursed for reasonable expenses incurred in serving on the advisory board, commission, or group.

Institutions must refer applicants who are suspected of having engaged in fraud or other criminal misconduct in connection with Title IV programs to the Department of Education's (ED's) Office of Inspector General (OIG). The regulations require only that the institution refer the suspected case for investigation, not that it reach a firm conclusion about the propriety of the applicant's conduct.

As stewards of Title IV funds, UVA Wise is obligated to assure that processes are developed to protect against fraud by either applicants or staff. All financial aid staff are responsible for detecting and reporting fraud. If, in the financial counselor's judgment, the applicant and his/her family has provided a fraudulent application or documentation, it must be reported immediately to a supervisor.

The Financial Aid Office must identify and resolve discrepancies in the information received from different sources with respect to a student's application for Title IV aid. Some of these areas include but are not limited to:

All student aid applications (e.g., federal, state, institutional, etc.)

• Need analysis documents (FAFSA)
• Copies of federal income tax returns
• Information regarding a student's citizenship
• Previous educational experience (e.g., school credentials such as a high school diploma)
• Documentation of the student's Social Security Number (SSN)
• Other factors relating to the student's eligibility for funds under Title IV aid programs (e.g., compliance with the Selective Service registration requirement)

In the context of the financial aid office, fraud is the willful misrepresentation or falsification of information for the purpose of securing financial aid that the individual is not eligible for or not eligible to the extent received. Title IV fraud can take many forms, including, but not limited to the following

• Falsified documents or forged signatures on an application, verification documents, or loan promissory notes
• False statements of income
• False statements of citizenship
• Use of false or fictitious names or aliases, addresses, or SSNs, including the deliberate use of multiple SSNs
• False claims of independent status
• Patterns of misreported information from one year to the next
• Referrals to the Office of Inspector General (OIG)

If the school suspects that a student, employee, or other individual has misreported information and/or altered documentation to increase student aid eligibility or to fraudulently obtain federal funds, it must report those suspicions and provide any evidence to the Department of Education's Office of Inspector General (OIG).

Rights - You have the right to know

• What financial aid programs are available both need based and non-need based federal financial aid
• How you apply for aid
• The deadline for submitting applications for each of the programs
• How financial need is determined in general
• The requirements for continued eligibility
• The cost of attending UVA Wise
• The resources considered in calculating the individual financial need
• UVA Wise’s Title IV refund policy - for a student who formally withdraws or unofficially withdraws (drop-out)
• The financial aid disbursement procedures
• The terms and conditions of employment in the FWS program
• The instructional, laboratory, and other physical plant facilities associated with the academic programs
• A list of the faculty and other instructional personnel
• The availability of FSA program funds for study abroad programs
• What portion of the financial aid received must be repaid and what portion is grant aid
• Source and amount of each type of aid that is offered
• The details regarding any loan offered
• Certain statistics, policies, and a description of programs that promote campus safety
• The satisfactory academic progress requirements and procedures for aid recipients
• UVA Wise’s graduation rates, completion and transfer out rates
• Information about the students’ rights under the Family Educational Rights and Privacy Act

Responsibilities - It is your responsibility to:

• Inform the Financial Aid Office of any change in enrollment status, residency or grade level changes
• Notify the Office of Financial Aid of any non-university aid that you receive
• Meet satisfactory academic progress requirements
• Complete all application forms accurately and submit them on time
• Provide correct information (misreporting information on financial aid forms is a violation of the law and may be considered a criminal offense)
• Use financial aid funds solely for educational purposes
• Promptly return all additional documentation, verification, corrections, and new information requested by the Office of Financial Aid
• Read, understand, and keep copies of all forms that you are asked to sign
• Understand that you are not permitted to receive federal/state financial aid at two different institutions simultaneously
• Repay all loans according to the terms agreed upon at the time the loan was accepted and the promissory note signed
• Read and fully understand the Satisfactory Academic Progress (SAP) Policy
• Read your UVA Wise email frequently - our main form of communication
• Be aware that you are not permitted to receive federal/state financial aid at two different institutions simultaneously

Repeats - Federal regulations specify that students may receive federal financial aid funding for one repetition of a previously passed course. The regulation limits the number of times a student can receive financial aid for repeating coursework.

Examples of repeated coursework that MAY count towards a student's enrollment status for purposes of determining federal financial aid eligibility are listed below:

• Repeated coursework may be included if the student withdrew (W) or received a failing grade (F,NP). A student may repeat a failed course until it is passed.
• Repeated coursework may be included when determining enrollment status in a term-based program if a student needs to meet an academic standard for a particular passed course, such as a minimum grade. Ex: Student received a "D" in a course which requires a minimum grade of "C" for his/her major.

Examples of repeated coursework that MAY NOT count towards a student's enrollment status for the purpose of determining federal financial aid eligibility are listed below:

• Retaking a passed course more than once. If a student receives a "C" in a course and decides to repeat the course to improve his/her GPA, he/she may repeat this passed course ONE time. However, if the student wants to repeat it a second time, the course would not count towards the student's enrollment status.

Consider the following example:

• Fall 2025 - A student takes a class and receives a grade of "C" (course is eligible for aid).
• Spring 2026 - The student repeats the same class (course is eligible for aid).
• Fall 2026 - The student registers for the same course once again to try for a better grade (course is INELIGIBLE for aid).

In this example, if the student registered for 12 credit hours for fall 2025 and three of those credits represented an ineligible repeated course, then the student's financial aid eligibility would be based on nine credits for that term. This is true regardless of the reason (want or need) for repeating the course. Please note that the student will be billed as full-time.

Notes:

• All repeated courses affect financial aid satisfactory academic progress calculations, regardless of whether the student received financial aid or not, all repeated coursework must be counted as attempted credits.
• Certain course descriptions listed in the UVA Wise Catalog may state that a specific course "must be repeated for degree" or "may be repeated for credit if content differs" (a student may receive financial aid for these courses, regardless if a passing grade has been received, as long as the course content is different).
• This regulation applies whether or not the student received aid for the earlier enrollments in the course.

Audits - Audited courses are not counted toward your degree requirements and because of that are not counted when determining financial aid eligibility. It is extremely important that you speak with our office before changing course grading options to audit. Your awards may be canceled or reduced if you fail to maintain required enrollment minimums.

For example: If you enroll in 12 credits but 4 of those credits are audited, your financial aid will be based on 8 credits, not 12 credits. Please note that you would be billed as a full-time student in this example.

How Dropping or Withdrawing Affects Your Financial Aid

Tips to Manage Your Financial Aid

1. Plan Ahead: Minimize your financial risk by selecting classes carefully, balancing your most difficult classes against your other courses and family and work demands.
2. Understand the Rules for Your Award: Review financial aid policies to understand what is expected of you to maintain your eligibility and keep your financial aid.
3. Know the Consequences: Be sure that you understand what will happen if you drop, withdraw, or fail to complete your classes. A financial aid counselor can help determine your financial liability.
4. Consider Your Options Before You Drop or Withdraw: Talk to the faculty member teaching your class to see if there is anything you can do to complete the class. Make sure you have explored all options for assistance.

Types of Aid and Enrollment

Federal student financial aid is awarded under the assumption you will be enrolled full-time for the semester. Any time you change your enrollment through the fourth week of classes, UVA Wise’s Office of Financial Aid must review your record and recalculate your aid. Federal (Title IV) aid includes the following programs:

• Federal Pell Grant
• Federal Supplemental Educational Opportunity Grant (SEOG)
• Subsidized Direct Stafford Loans
• Unsubsidized Direct Stafford Loans
• Federal Direct PLUS Loans

Enrollment changes can also affect your Satisfactory Academic Progress, which ultimately affects your aid eligibility. Learn more about Satisfactory Academic Progress.

How Enrollment Changes Affect Your Aid

• If you drop or withdraw from classes (officially or unofficially-drop out), you may jeopardize future eligibility for student aid (including loans).
• If your enrollment drops below half-time, your financial aid awards may be adjusted, and the grace period before repayment of loans will begin.
• If you withdraw (officially or unofficially-drop out) and didn’t complete more than 60 percent of the semester, you may have to repay financial aid according to the Return of Funds Calculation.

Return of Funds Calculation

In general, the Office of Financial Aid will determine the total number of days in a term (including weekends) and subtract any breaks of five days or longer. The Office of Financial Aid will then take the date of withdrawal of the student and determine the number of days that the student attended in the term. The number of days attended is divided by the number of days in the term and the resulting percentage is used to determine the amount of Title IV aid earned in the term.

For example, if a term is 111 days in length and a student withdraws after 8 days, the resulting percentage is 7.2%. The student will have earned 7.2% of their Title IV financial aid. This percentage is multiplied by the amount of Title IV aid disbursed as of the date of withdrawal in a term to determine the total amount of Title IV aid earned.

The Office of Financial Aid will use the R2T4 worksheet to determine how much and what type of Title IV aid has been earned by the student and how much and what type of aid must be returned by UVA Wise and/or the student. If Title IV aid must be returned, it will be returned in this order:

1. Unsubsidized Direct Loan
2. Subsidized Direct Loan
3. Direct Graduate PLUS Loan
4. Direct Parent PLUS Loan
5. Pell Grant
6. Iraq and Afghanistan Service Grant
7. Federal Supplemental Education Opportunity Grant
8. TEACH Grant

In some cases, students are able to receive a disbursement of Title IV aid after withdrawal. This occurs when the amount of Title IV aid earned by the student is greater than the amount of Title IV aid disbursed for the term at the time of withdrawal. The Office of Financial Aid will contact students who are eligible for a post-withdrawal disbursement.  

The requirements for Title IV aid when students withdraw are separate from the University’s Tuition and Fee Adjustment policy. Therefore, students may owe funds to the University to cover unpaid institutional charges. The University may also charge a student for any Title IV aid that it is required to return.

Loan Proration for Graduating Borrowers

Federal direct loans are offered at the beginning of an academic year and are based on expected full-time enrollment. Per federal regulations, institutions are required to prorate loans for graduating undergraduate students when their final period of enrollment is less than a full academic year*. This means, that graduating undergraduate students who only attend one semester of the academic year will have their federal direct loans prorated (adjusted) based on enrollment. This most often affects students who graduate in December.

*An academic year at UVA Wise is defined by two standard semesters – Fall and Spring - which accounts for a period of at least 30 weeks of instruction in which a full-time student is expected to complete a minimum of 24 credit hours.

The proration may decrease your federal loan eligibility if you are registered between 6 and 11 credits, OR it may increase your federal loan eligibility if you are registered for 13 or more credits.

Students who graduate at the end of the Fall (or Winter) semester will have their Fall Federal Direct Loans prorated based on the Department of Education proration guidelines.

See the charts for common loan proration amounts for Dependent and Independent undergraduate students. Per federal regulations, we cannot exceed federal direct aggregate loan limits. Loan amounts could be impacted by a student's borrowing history and total aggregate loan limit(s). Visit studentaid.gov to learn more about aggregate loan limits.

Use the chart to determine your eligibility.

Bachelor's Degree Dependent Student

Independent Student

Students and their families may face situations where the original application information does not accurately reflect their current circumstances and ability to pay for college. When students apply for financial aid, the financial data elements on the Free Application for Federal Student Aid (FAFSA) reflect the previous year's earnings of students and their parents, as reported on their federal income tax return.

The FAFSA is considered to be a "snapshot" of the family's financial situation as of the date it is submitted. The student aid index (SAI) is calculated according to a federal formula that uses the household and financial information to determine a student/and or family's financial strength.

If you or your family’s current income situation is significantly less than what is reflected in the financial information from the tax year reported on the FAFSA, you can access the Special Circumstances Appeal Form on our web site.

Appeals are reviewed in the order they are received.

What is federal verification?

After submitting your Free Application for Federal Student Aid (FAFSA), your financial aid application may be selected for federal verification. If you are selected, the Financial Aid Office will request additional information to ensure the accuracy of information reported on your FAFSA. 

Please note that your financial aid will not be processed until you’ve submitted all requested items and verification is complete.

How will I know that I’ve been selected for verification?
If your application has been selected for verification, your FAFSA Submission Summary will include a note indicating so. Also, we will send you an email. 

What is the deadline for completing verification?
We recommend that you submit verification documents as soon as possible to avoid delays later in processing your financial aid. In general, you must complete verification by the last day of your enrollment during the school year in question.

Please note that once verification is complete, federal rules prohibit us from making certain changes to your financial aid offer.

What happens if I do not complete verification?
If you don’t complete the verification process, you will not receive financial aid.

In rare cases, even if you’ve already received aid, you may be selected later for verification. If that happens, you’ll need to complete the required items to keep your aid. Failure to complete these items will result in aid cancellation, and any disbursed aid may be reversed, potentially leaving a balance on your student account. 

How might verification result in changes to my aid?
Verification often requires us to make corrections or updates to the data that you reported within your application. If we make corrections to your FAFSA, you will receive a new FAFSA Submission Summary.

These corrections may change the Student Aid Index (SAI). We'll use the SAI from your verified application to determine your official financial aid offer.

Information Required to be Verified

In most cases, you must provide documentation to verify tax data or proof of identity. Applicants and their contributors are required to provide consent and approve the sharing and importing of income and tax information from the Internal Revenue Service (IRS) to the FAFSA in a process called the Direct Data Exchange (DDX). When an applicant and their contributor(s) successfully use the DDX when completing the FAFSA, the unchanged tax data, or Federal Tax Information (FTI), serves as the primary source of documentation for verification of income and no further documentation is needed. 

If the tax information for the applicant and their contributor(s) was not available or the DDX could not be used, a signed copy of the applicant’s and their contributors’ 2022 federal income tax return should be submitted.

Verification for Individuals with Special Tax Situations

If you are selected for verification and have a special tax situation, we may need you to provide additional documentation. 

You may be considered to have a special tax situation if you: 

• Filed an Amended IRS Income Tax Return
• Were a victim of IRS identity theft
• Received a filing extension from the IRS 

If you are selected for verification and fall into one of these special tax categories, please reach out to us at finaid@uvawise.edu for further information about how to proceed.

Other Requests for Additional Documentation

If you change your FAFSA after receiving your official financial aid offer, you might still be selected for verification. We may also ask for additional documentation to verify your eligibility for state and institutional need-based funds. In either case, we’ll notify you via email. Your official financial aid can’t be processed until all items are finished

The Federal Work-Study Program (FWS) increases students' opportunities to earn money by working part-time during the school year (10-20 hours per week).

FWS program allows eligible students to earn paychecks to help support their educational expenses by getting part-time jobs with UVA Wise departments. This program helps create additional job opportunities for FWS students by providing federal funding that is used to pay their wages.

FWS funds are limited and require financial need from FAFSA to establish eligibility to participate in the program. Your total earnings cannot exceed your FWS award amount, and your actual earnings will depend on your hours worked and your hourly wage.

The hourly rate for on-campus employment will be at least the current Virginia minimum wage ($12.41). Students are paid a bi-weekly paycheck for hours worked.

Eligibility Requirements for Federal Work-Study

The university receives an annual budget of FWS funds from the federal government and offers the available funds to students who demonstrate higher levels of financial need. Students without FWS awards may still pursue many other part-time job opportunities both on and off-campus.

• You must first complete the Free Application for Federal Student Aid (FAFSA) available online at studentaid.gov.
• You must meet general eligibility requirements which include: Official FAFSA for current aid year (verification must be completed if required)
• You must have financial need from FAFSA
• You must enroll at least half-time (six credits or more) for each semester
• You must accept your federal work study if you wish to pursue a position
• You must be meeting Satisfactory Academic Progress (SAP) and be a degree-seeking undergraduate student
• Students are responsible for finding employment on campus by either speaking directly with departments or attending the Annual Job fair

Why choose Federal Work–Study?

There are many benefits:

• Income: Extra money for things you want and need.
• Opportunity: Although you are not guaranteed a job if you are awarded Work–Study, you are much more likely to be hired if you have Work–Study eligibility. In addition, your job will be close to where you study.
• Student–Friendly Schedule: Your employer knows your first priority is as a college student. Employers try to be as flexible as possible in scheduling work hours around your class schedule.
• Future Financial Aid Eligibility: As a financial aid need-based program, Work–Study income (although taxable) does not affect your future financial aid eligibility in the next tax year.
• Work Experience: Students who have job experience and who have worked while attending school are more attractive to future employers. Your supervisor may become an excellent reference.
• Academic Success: Campus research has shown that Work–Study students connect with the campus community, learn about resources available to students, and establish stronger relationships with faculty and staff. This correlates with the fact that students with Work–Study jobs are more likely to stay in school, perform better academically, and graduate.