The purpose of Financial Aid is to assist students in paying for educational costs.
The Financial Aid Office will be available to help students secure funds through a variety of aid programs available to assist students to pay for their education.
Students cannot be awarded more than one scholarship per semester except in the case of a student employment scholarship. Scholarships are awarded at the beginning of each semester and recipients will receive the credit for the amount of the scholarship toward their tuition. The total scholarship cannot exceed the tuition that the student should pay.
1) Types of scholarships
Four types of scholarships are available for students.
(1) Academic Achievement Scholarship
One fulltime BA student and one fulltime M.Div. student with the highest grade point average (GPA) for the previous year will each receive a scholarship toward their next semester. This scholarship is normally between $500 and $1,000 each. Students who will receive this scholarship will be notified by the academic dean.
(2) Financial Need Scholarship
Students who have financial needs are invited to obtain an application from the school office. They are to complete the application and submit it to the student dean. Each May the Scholarship Committee will consider applications for the following academic year. By the end of May, Student Dean will post the names of students to receive this scholarship. (If a student does not want his or her name posted as a winner of a financial need scholarship, he or she should include a stamped, self-addressed envelope along with the application. He or she should tell the Student Dean not to post his or her name. He or she should also note this at the bottom of the application.)
(3) Work - Study Scholarship
At the beginning of each semester, on-campus job descriptions will be posted on the bulletin board. Interested students should contact the school office. Money earned will be applied to any outstanding balance (e.g. tuition and fees). A student who does not owe any money to the school will receive cash.
(4) Designated Scholarship
A church or organization may choose a student to support, or may provide a scholarship for a particular type of student (e.g. a pastor's son, a student who wants to become a missionary). The later type of scholarship is announced when available. Students should see the student dean to apply for a designated scholarship.
2) Scholarship Applications
All applicants for scholarships must attain a 2.5 GPA or higher in the previous semester. Students desiring to receive financial assistance must submit a scholarship application at the time of registration each semester. The application is supplied at registration or can be obtained at the administrative office.
3) Scholarship Committee
The Scholarship Committee has the task of screening the awarding of scholarships, fundraising, and managing scholarship funds. It is organized as follows: President (Chair), Chief Academic Officer, Dean of Students, CFO and Financial Aid Office.
All matters that are not stipulated clearly shall be discussed and decided by the Scholarship Committee of the school which ordinarily meets once each semester.
2. FEDERAL FINANCIAL AID
The cost of higher education has increased significantly and paying for higher education is a challenge for many students. Many students are forced to rely on some outside help to pay for the rising costs of postsecondary education. Some students work while attending school, others seek educational loans. Federal Student Aid (FSA) is available for GMU students. GMU is committed to helping students apply and receive FSA based on their eligibility.
The financial aid office at GMU will do its best to assist students in the application process for FSA, answer questions, and process all FSA in a professional and timely manner.
1) Requirements for Eligibility
Requirements for Eligibility are the following:
The student must be a citizen or eligible non-citizen.
- Have a high school diploma or GED.
- Must be enrolling in an eligible educational program.
- Working toward a degree or certificate.
- Making satisfactory academic progress.
- Must not be in default of a previous federal educational loan or Pell grant.
If a student already has a Baccalaureate degree he/she is not eligible to received Pell grants but educational loans are available.
A student who has a federal or state drug conviction can be disqualified for FSA.
2) Applying for Federal Student Aid
To apply for Title IV aid, a student submits a Free Application for Federal Student Aid (FAFSA). This is required for all students who wish to receive FSA. Through an established formula a student's need is calculated based on an analysis of household and financial information from the FAFSA and determining the Expected Family Contribution (EFC).
3) Types of Aid
(1) Federal Pell Grants
Federal Pell Grants are need-based and do not need to be repaid.
(2) Stafford Loans (Federal Family Educational Loans)
Stafford Loans (Federal Family Educational Loans) are also need-based but must be repaid once the student graduates or withdraws from school.
Federal Supplemental Education Opportunities Grant (FSEOG) and Federal Work Study (FWS) programs are a campus-based, federally funded employment program that provides paid jobs on campus or off campus for students who need such earnings to meet a portion of their educational expenses.
For more information regarding financial aid please contact the Financial Aid Office.
4) Return of Title IV Funds Policy
When a student who receives Federal Student Aid funds withdraws from the World Mission University prior to completing 60% of a payment period or period of enrollment (Fall, Spring Semesters), the student may be required to return a portion of his/her Federal Aid received. The type of Federal Aid GMU participates at this point and thus subject to a Return calculation are: Unsubsidized Federal Stafford loans, Subsidized Federal Stafford loans, Federal PLUS (Parent) loans, and Federal Pell Grants.
A return is only required of those students who withdraw from school, who cease to be enrolled. A student who reduced his/her course load is considered a reduction and not a withdrawal. A Return calculation is not required for such students.
The calculation required determines a student's earned and unearned Title IV aid based on the percentage of the enrollment period completed by the student. The percentage of the period that the student remained enrolled is derived by dividing the number of days the student attended by the number of days in the enrollment period.
If the withdrawal date is after the 60% point in the payment period or period of enrollment, a student is considered to have earned 100% of the Title IV funds he or she was scheduled to receive during the period. For such a student there are no unearned funds. GMU will still complete a Return calculation in order to determine whether the student is eligible for a post-withdrawal disbursement.
GMU must determine the student's withdrawal date. The withdrawal date is defined as: 1. The date the student began the withdrawal process or officially notified GMU of his/her intent to withdraw; or 2. The last date of attendance at an academically-related activity by a student who doesn't notify GMU.
Based on the date of withdrawal, the financial aid office will determine the actual date of the student's withdrawal and using the Return of Title IV form provided by the Department of Education, calculate the amount, if any, the student must return. The student will then be notified by mail of any amount of Federal Aid that they must return. In some cases both the school and the student may be required to return unused or unearned portions of Federal Aid to the Federal Title IV program.
5) Overpayments and Overwards
There are times when a student's award package exceeds the student's need. There may be circumstances that change a student's award package after the aid has been awarded that result in an overpayment. For example a student may receive a scholarship or grant from an outside source or organization, or the student may want to extend his or her work-study 77 employment. In case of overpayments or overawards the GMU financial aid office will need to make adjustments to the other federal student aid in the package.
Pell Grants are never adjusted to take into account other forms of aid. Therefore the adjustments will be made to the Stafford Loans. When GMU is granted permission to participate in the Campus-Based programs, those programs will also be available to make adjustments from.
Students who owe funds due to overpayment or overaward will be required to make payment of those funds within 30 days of receiving a written notice from the Financial Aid office. Student can send in the overpayment/ overaward to GMU and the payment will be forwarded to the U.S. Department of Education. If a student is unable to pay their overpayment in full, they can set up a repayment plan with the U.S. Department of Education. Before doing this please contact the GMU Financial Aid Office. You will need to make sure we have referred your situation to the U.S. Department of Education before any repayment plan can be set up.
If the student whose overpayment case has been accepted by the Department of Education wishes to establish a repayment schedule, the student should contact Collections by calling 1-800-621-3115
Or by emailing firstname.lastname@example.org
For examples of the Return of Title IV Funds calculations or questions regarding the overpayment policy, please contact the Financial Aid Office.
6) Related Links
- Information for Financial Aid Professionals (IFAP)
- The Student Aid Internet Gateway (SAIG)
- Student Aid Internet Gateway Download Site
- Application for Approval to Participate in the Federal Student Financial Aid Programs
- Free Application for Federal Student Aid (FAFSA)
- Information for the Federal Student Aid PIN
- eCampus-Based Program Web site for Federal Student Aid
- FAA Access to CPS Online
- National Student Loan Data System (NSLDS)
- The eZ-Audit website
- U.S. Department of Education's Common Origination and Disbursement (COD)
3. Tuition Assistance (TA) program
The Tuition Assistance (TA) program provides financial assistance for voluntary off-duty education programs in support of a Soldier's professional and personal self-development goals. TA is available for courses that are offered in the classroom or by distance learning. The courses must be offered by schools that are registered in GoArmyEd and are accredited by accrediting agencies that are recognized by the U.S. Department of Education. A list of approved accrediting agencies may be found at www.ed.gov/admins/finaid/accred/accreditation_pg6.html#NationallyRecognized
In addition to degree programs, TA is available to Soldiers to complete a high school diploma and to complete certificate programs. However, TA will not be approved to complete credentials at the same or a lower educational level. TA is not authorized for programs beyond the masterí»s degree.
All Regular Active and Reserve Soldiers, members of the Active Guard Reserve and Reserve Component Soldiers who are activated under U.S. Code Title 10 or Title 32 (officers, warrant officers, enlisted) will request TA through GoArmyEd (subject to qualifying criteria).
National Guard Soldiers in drilling status do not access TA through GoArmyEd. Refer to the following Web site for information on obtaining TA through the National Guard:
NGB iMARC site: https://minuteman.ngb.army.mil/Benefits
By law, officers who use TA incur a service obligation. Active Duty officers incur an Active Duty Service Obligation (ADSO) of two years and Reserve Officers incur a Reserve Duty Service Obligation (RDSO) of four years. The ADSO/RDSO is calculated from the date of completion of the last course for which TA was used.
Non-Army servicemembers must obtain TA through their branch of Service. This policy has been mutually agreed upon by all Services.
Further details on the provisions of TA are found in AR 621-5 http://www.apd.army.mil/pdffiles/r621_5.pdf