General Information Scholarship & Grant Information | Loan Information | Working at Whitman | Financial Aid Procedures | Addenda | Calendar | Vocabulary   general information 1 Why is need-based financial aid so structured? Need-based financial aid funds are limited; therefore, distribution of these funds in a manner that is fair to all recipients must be structured. The structure is especially important in awarding Whitman scholarship funds equitably. Because scholarship funds are limited, the awarding of more scholarship funds to one student or one group of similar students means that less scholarship funds are available to other qualified students. For example, if we did not require noncustodial divorced parents to contribute to the education of their children at Whitman, those children would receive more scholarship funds. This would result in other scholarship recipients receiving less in scholarship funds. Or, if we award more scholarship funds to some students because we ignore their parents’ assets, we must reduce the scholarship awards to other qualified students. If we ignore structure and award more scholarship funds to one or more students because their parents do not wish to contribute the expected amount, we must take those scholarship funds from other qualified students. The structure affecting eligibility for student loans and for earning during the school year is far less stringent. Because student loan funds will be repaid and therefore recycled, we may have greater flexibility in determining loan eligibility than in qualification for scholarship funds. Also, the student may earn all he or she wants during the school year without limitation. Financial aid offers to students typically reflect the structure applied to eligibility for scholarship funds. Very often the student is eligible for a larger loan than the amount listed on the financial aid offer. We deliberately minimize the loan eligibility to discourage students from borrowing more than they absolutely need to. 2 What kind of financial aid is available at Whitman? Whitman’s goal for its financial aid program is to be as helpful as it possibly can by offering three types of financial aid. These include gift aid (scholarships and grants), loans, and employment. Approximately 77% of the gift aid will be offered to students who qualify for need-based financial aid. The other 23% will be awarded to students without need in the form of scholarships in special programs with specific criteria, and academic merit scholarships. Student loans are also available to student borrowers without need-based qualification. Employment is available to all students who ask for assistance without regard to need. A parent loan program is available to the parents of Whitman students, and once again need is not a factor. Students and parents may inquire about all types of financial aid in the OFAS. The availability of need-based financial aid, however, may be contingent upon the student meeting deadlines for applying for the funds. As a returning student you should send your Free Application for Federal Student Aid Funds (FAFSA) or the Renewal FAFSA to Iowa City, IA, and your Financial Aid Profile (FAP) to the College Scholarship Service in Princeton, NJ, no later than April 1st. The deadline for a completed application for a returning student is May 15th. More about that on question 34 in this booklet. 3 How do I qualify for need-based financial aid? You start by submitting the Renewal FAFSA (or the FAFSA) and the FAP to the appropriate addresses. Both the FAFSA and the FAP are available in our office beginning in November (usually). You will receive Student Aid Reports (SAR’s) from the Central Processor in response to your submitting the Renewal FAFSA or the FAFSA. You will not need to send the SAR’s to us. We will receive an analysis of all of the information you submitted on the Renewal FAFSA or FAFSA and the FAP, and a copy of the FAP. (Whitman codes need to be on each of the forms–FAFSA, 003803; FAP, 4951.) You have need if your family contribution is less than Whitman’s budget (tuition, room and board, books and incidental expenses plus a transportation allowance for students whose homes are outside the Pacific Northwest). The family contribution computed by a standard formula includes a parents’ contribution from income and assets, your summer earnings contribution, and a contribution from your assets, if any, plus any other personal resources you may have. We are pleased when students understand the formula which is used to compute the family contribution, so they understand what causes changes in their level of need. If you wish to learn about the needs analysis formula, come in to see us. We will be happy to give you a more thorough understanding. You should be aware that two slightly different formulas are used to compute your qualification for financial aid. The Federal Methodology determines your eligibility for federal student aid funds (principally federally subsidized loans, Federal College Work Study, and also Federal Pell Grant). Whitman uses its own formula to determine eligibility for Whitman scholarship funds. The Whitman formula is basically the same as the federal formula with certain specific differences. For example, the federal formula divides the parents’ contribution by members of the household who are in college, while Whitman’s formula divides the computed parents’ contribution by the number of children in the household who are in college. Because the Federal Methodology is usually more liberal than the Whitman methodology, students often have greater eligibility for federally subsidized loans than we have communicated in our offer of financial aid. Applications for both the FAFSA and the FAP are available on line. The FAFSA is at www.fafsa.ed.gov and the Profile is located at www.collegeboard.org. Please remember that to complete the Profile, it is a two step process; registration and completion of the application itself. 4 How are my expected summer earnings determined? The summer earnings expectation for an entering freshman student is usually $200 less than that of a returning upper class student. We believe it is generally harder for a high school student to earn in the summer than it is for a college student. The summer earnings expectations for 1999-2000 are $1800 for freshmen and $2000 for upperclassmen. The expectation was that a person earning the minimum wage of $5.75 per hour and working 40 hours a week for ten weeks would earn $2300.   5 If Whitman’s tuition goes up next year, will I get more aid? Usually about half of our need-based aid recipients demonstrate greater need from one year to the next, and about half demonstrate less need. An increase in parents’ income could offset an increase in Whitman’s tuition. A change from two children in college to only you in college could nearly double the computed parents’ contribution for you. That is, the computed parents’ contribution could be about the same, but it is no longer divided between you and your brother or sister. The number of factors which significantly affect your need make it difficult to predict that your need would increase just because the tuition increased. General Information | Loan Information | Working at Whitman | Financial Aid Procedures | Addenda | Calendar | Vocabulary   scholarship & grant information 6 Can everyone qualify for scholarships and/or grants? Many students qualify for scholarship funds, but not everyone. More than half of Whitman students receive need-based scholarship funds, while some other students receive academic merit scholarships not based on need, and still others receive non-need-based scholarships in special programs. The majority of Whitman scholarship funds go to students who qualify on a need-basis. 7 How is my need-based scholarship amount determined? The amount of your scholarship depends on how much need you demonstrate and the year you entered Whitman. We use offer charts that establish a specific percentage of scholarship and grant funds at a specific need level. However, the needs and goals of the college change periodically, so the offer charts also change from year to year. This means that different offer charts may be used for different entering classes, but the chart used for one entering class is used for that class throughout its four years at Whitman. Therefore, three students who all have the same computed need could have different amounts of gift aid offered to them if they entered Whitman in three different years. 8 What are these "full ride" scholarships I hear about at Whitman? We have some special scholarship programs that require specific talents and other qualities that are awarded to incoming students who are selected by the Office of Admission. These recipients stay in these special scholarship programs as they progress through Whitman (except in rare instances). For the students with need in these programs, the gift aid meets all of their need, which could be small or large. These programs include the Paul Garrett Scholarships (leadership), Claire Sherwood Scholarships (all-around achievement), and the President’s Scholarships (outstanding talent). In addition, Whitman has the Murr Family Foundation Scholarship and the Richard Eels Scholarship. The Murr scholarship goes to an entering student with need from Walla Walla High School and covers his or her educational expenses. The Eells scholarship is awarded to one entering freshman and covers tuition. Also, there are two need-based scholarship programs through which recipients receive about 80% of their need in gift aid. These scholarships include the Comstock Foundation Scholarships (Spokane and Eastern Washington residents) and the Diversity Scholarships. 9 Can I improve the quality of my aid? Yes, this is possible. The financial aid program sets aside funds each year to give you, as a returning student, the opportunity to improve the quality of your financial aid package for the following year. Through the Scholarship Improvement Program you may receive more in scholarship funds than you would otherwise receive using the regular pattern of awards. The improvement in the quality of your aid applies to all of your ensuing years at Whitman as well. Applications for Scholarship Improvement are available in the OFAS in late January. 10 Does Whitman offer no-need scholarships? Yes. About 23% of Whitman’s scholarship funds go to students who meet specific criteria for special scholarship programs but who do not qualify with need. These students are selected as entering students and the scholarships are renewed throughout their years at Whitman. The non-need-based scholarships fall into two groups. The special scholarship programs that offer non-need-based stipends (see question #9) include Paul Garrett Scholarships, Claire Sherwood Memorial Scholarships, President’s Scholarships, Comstock Scholarships, Campbell Music Scholarships, $500 to $2000 (outstanding musical talent), and scholarships for National Merit Scholars $750 (selected National Merit finalists). The other non-need-based scholarships are merit scholarships. These scholarships range from $4500 to $8000 depending on the student’s academic credentials. Recipients of non-need-based scholarships do not have to submit any re-application forms to have the scholarship renewed. They will be renewed automatically. 11 How does a scholarship from outside the college affect my financial aid from Whitman? Students who receive outside scholarships will generally not see any effect on their need-based aid offered by Whitman. However, if a student has a small federal need, the student may have to borrow unsubsidized Stafford Loans rather than a subsidized Stafford Loan. For example: Larry’s federal need is $6000 for 1999-2000. Larry has received $4000 in need-based scholarship, $1500 in subsidized Stafford Loan and $500 in employment opportunity. Larry receives a scholarship from his high school for $2000. Since all of Larry’s federal need is now being met with scholarship, he may no longer borrow subsidized Stafford Loan. Larry may, however, borrow an unsubsidized Stafford Loan. There are a couple of good web sites which could be helpful to you when looking for outside scholarships. They are www.finaid.org and www.fastweb.com. Both of these sites have information about numerous scholarships along with qualification and application information. 12 How long can I attend Whitman and still receive scholarship funds? Most Whitman students graduate in eight semesters. However, if a ninth semester is needed to meet graduation requirements, you may receive scholarship funds for nine semesters (or the equivalent when attendance at another college is included). A tenth semester is possible. However, you must successfully petition the Student Financial Aid Committee for financial aid for a tenth semester. 13 Where do federal and/or state grants fit in? Government and state grants include the Federal Pell Grant, the Federal Supplemental Educational Opportunity Grant (SEOG), and the Washington State Need Grant. When Whitman offers you scholarship and grant aid, the College is making a gift aid commitment to you. Therefore, if you are offered scholarship funds and you qualify for grant aid, the two kinds of gift aid are interchangeable. The scholarship and the grant portions of the gift aid may change, but the total amount of the gift aid remains the same. You apply for a Federal Pell Grant when you submit a FAFSA. The Central Processor determines your eligibility for a Federal Pell Grant, then communicates this eligibility, as well as eligibility for other federal student aid, both to you by sending you a Student Aid Report (SAR) at the address listed on your FAFSA, and by computer with the financial aid offices listed on your FAFSA. We must have the electronic information from the Central Processor before we may disburse Federal Pell Grant or any other federal student aid funds to your account. SEOG funds are given to the College by the federal government to award to those students with the greatest demonstrated need. We award the SEOG funds in August, replacing scholarship funds already offered, but always maintaining the gift aid total that appears on each recipient’s offer of financial aid. We identify and nominate qualified Washington State Need Grant recipients. When the state of Washington sends a WSNG check for you, these funds replace Whitman scholarship funds in the same amount so that your gift aid total remains the same. For example, suppose you are offered $9000 in scholarship and $400 in Federal Pell Grant in the spring. Your gift aid total then is $9400. When Whitman receives your federal information, we find that your qualification for Federal Pell Grant is $420 instead of $400. Your scholarship then is adjusted downward to $8980, so the gift aid commitment of $9400 is maintained. Then in August we award you $2000 in SEOG, so your scholarship award is reduced by $2000. In October you are awarded a WSNG of $800, so your scholarship is again reduced. Your gift aid ingredients becomes $6180 in scholarship from Whitman, $420 in Federal Pell Grant, $2000 in SEOG funds, and $800 in WSNG. The gift aid still totals $9400 and the gift aid commitment is maintained. General Information | Scholarship & Grant Information | Working at Whitman | Financial Aid Procedures | Addenda | Calendar | Vocabulary   loan information 14 Can everyone who wants a student loan have one? Yes. There are three kinds of student loans at Whitman: the Federal Perkins Loan, the Federal Stafford Loan, and the EdVantage Loan. Any of the three may be offered to students who qualify with need. The Federal Stafford Loan may also be borrowed by students who do not qualify with need. The largest of these three loan programs is the Federal Stafford Loan. Federal Stafford Loans are made by commercial lenders, principally banks (please refer to Addendum B at the end of this booklet). Students with need may borrow a "subsidized" Federal Stafford Loan within the framework of their need. This means that while the student is in college the interest is paid for the student by the federal government to the lender. The student becomes responsible for the interest when he or she is in repayment. Students who have no need or limited need may also borrow an "unsubsidized" Federal Stafford Loan. In this case the student is responsible for the interest on the loan while he or she is in college and then again when he or she is in repayment. A student may have a "split" FSL in which part of the amount is subsidized and part is unsubsidized. Completion of the FAFSA is necessary when applying for both subsidized and unsubsidized Federal Stafford Loans. As with the Federal SEOG, the law requires that Federal Perkins Loan funds go to the students with the greatest need since the Federal Perkins Loan is the most economical (see Addendum C). Unfortunately, Whitman’s Federal Perkins Loan fund is relatively limited (about $500,000). If you borrow a Federal Perkins Loan, the interest on the loan is paid for you while you are in college and you begin to repay the loan after college. However, if you borrow a Federal Perkins Loan you are limited to $3000 per year. The EdVantage Loan Program is designed to assist students complementing eligibility for the Federal Stafford Loan (please refer to Addendum ). For example, a freshman has a need to borrow more than the $2625 limit on Federal Stafford Loan, so the student is offered an EdVantage Loan to meet his or her need. A student borrowing an EdVantage Loan must have an acceptable cosigner (parents in almost all cases). The interest on the EdVantage Loan begins accruing from the date of the loan disbursal. The student may defer repayment of interest and all but 2% of the principal until he or she leaves Whitman. Students do not have to demonstrate need to receive the EdVantage Loan. Any student who wishes may request to borrow up to the cost of education, less any financial aid they are receiving. Interest on the EdVantage Loan is 8% while the student is in school and the borrow may select either a fixed or variable rate upon commencing repayment. You should be aware that your qualification for Federal Stafford and Perkins loans is determined by the federal methodology. The federal methodology typically is more "liberal" than Whitman’s methodology, so a student very often has greater qualification for loan than he or she is offered in the original offer of financial aid. That is why the letter outlining your financial aid says that you may ask for a different amount of loan than is offered to you. Interest rates for the loan programs are: FSL–variable. Set in June of each year. For students borrowing unsubsidized loan, the current interest rate is 6.32%. Perkins–5%. For students who have need for loan beyond their eligibility for Federal Stafford or Perkins Loan, several lenders offer alternative student loans. These loans are not part of the federal loan program, so offer no subsidies. The interest and repayment terms are similar to the Federal Stafford Loan. If you are in need of additional loan, stop by the OFAS and we will be happy to discuss your options with you. 15 Can I choose any loan program I wish? No, you may not choose your loan program. The OFAS staff will select the Federal Perkins Loan recipients according to federal law. If you qualify for a need-based loan but you are not offered a Federal Perkins Loan, you may borrow through the Federal Stafford Loan. You may also borrow an unsubsidized Federal Stafford Loan if you have unused eligibility. For example, a junior could borrow up to $5500 in Federal Stafford Loan. If his or her unmet need is $4000, according to the Federal Methodology, the student could borrow $4000 in subsidized Federal Stafford Loan. The same student could also borrow up to $1500 in unsubsidized Federal Stafford Loan to reach the maximum loan total of $5500. 16 How much can I borrow? There are really two concerns here: how much you may borrow and how much you should borrow. Through combinations of loans you and your parents together could conceivably borrow as much as $27,800 a year, including a parents’ loan. You alone might be able to borrow as much as $15,000 a year, but the question remains, should you? Sometimes there is a temptation to over-borrow. We think you should look long and hard before you borrow excessively, especially if you are going to have to do it for more than one year. There may be other better resources available to you if you seek them. The loan programs have the following limits. Federal Perkins Loan is $3000 per year. Federal Stafford Loan: the maximum eligibility for freshman is $2625, for sophomores $3500, and for juniors and seniors $5500. The maximum total for undergraduate study in Federal Stafford Loan is $22,625. 17 When is it too late to apply for a loan? Students typically process loan applications in June and July in order to have the proceeds credited to their account at the time of fall registration. Sometimes students postpone applying for a loan until they have a better idea of how much they will need to borrow. Sometimes students try to get through the year without borrowing, and find at the last minute they do indeed need to borrow. When that happens, how late may you apply for a student loan? Federal Stafford Loan applications take a little longer, so you should apply for the loan at least two to three weeks prior to the end of the school term. A late disbursement of your loan proceeds can cause you and the College unnecessary problems. Federal Perkins Loans may be applied for up to the end of the school term for which you need the loan. However, the amount of our Federal Perkins Loan funds are limited, so you should apply for the loan as soon as you know how much you need to borrow. Later applications may be rejected for lack of funds. 18 Are there loans available to my parents? The PLUS Loan is the most widely used parent loan program. You or your parents may request information about this program in the OAFS or at a local lending institution. General Information | Scholarship & Grant Information | Loan Information | Financial Aid Procedures | Addenda | Calendar | Vocabulary   working at Whitman 19 May I work at Whitman? If so, how do I find a job? Employment at Whitman is a "free market" situation, and anyone who wishes may work on campus. Finding a job is simply a matter of asking employers for work. Students who are given employment opportunity as part of their financial aid are given "first crack" by some employers for the first few days of school. We think this is only fair. The Personnel Office maintains information about campus employment, and has put that information on our home page on their home page. Information about off-campus jobs is available in the Career Center. If you are interested in a State Work Study position on or off campus, you need to contact the OFAS. Whitman College has also agreed to participate in the America Reads program. This program, funded through the Federal Work Study Program, provides reading tutors for local elementary schools. Interested students must be cleared through the Washington State Patrol. Applications are available in the OFAS or in the Community Service Office in the Student Union Building on the 2nd floor.   20 May I earn as much as I want during the school year? In most cases the answer is yes. With the exception of students who are earning through State Work Study or the America Reads program, there are no restrictions on how much a student may earn during the school year. Whitman believes in the work ethic, so if you are not restricted by the State or Federal Work Study program, you may earn all that your energy, time and opportunity allows. However, you need to be aware that the Federal Methodology (the formula used to determine each student’s eligibility for federal student aid) uses the actual amount of your earnings from the previous year in the formula. Therefore, the amount you earn one year could affect the amount of federal aid for which you are eligible in the ensuing year. Your school year earnings will not, however, affect your qualification for Whitman scholarship funds in the current year or the next year. If you are one of a handful of students working through the Washington State Work Study or America Reads program during the academic year, you will want to check with us to see what your earning limitations are. 21 What are the Washington State Work Study and the America Reads programs? Am I eligible? The WSWS program is a great opportunity to investigate a career and get paid at the same time. Students with need may work in career-related jobs during the school year and/or during the summer months, and the state of Washington will subsidize the employer. In WSWS jobs the state pays up to 65% of your salary while the employer pays only the remaining amount. Because the money available to Whitman students is limited, students and their jobs are screened carefully. Applicants must have a qualifying need and have a good career-related job. Washington residents are given preference. The selection of WSWS students for the summer employment subsidy is done in cooperation with the Career Center. The Career Center has operated a successful internship program for years, so if you wish to be selected for WSWS summer employment, you will want to submit an internship application in the Career Center in early April. Only good career-related jobs are selected, and when the demand for jobs exceeds the supply of wages, the selection of WSWS employees may become competitive. Students who are eligible to earn through the Federal Work Study program will be considered for the America Reads program. For more details, see Question 20. Debbie Conklin is the coordinator for the America Reads program. Her office is on the 2nd floor of the SUB in the Community Service Office. The money you earn through the program is paid to you by the College. You will receive your paycheck on or near the 20th of each month. 22 What happens to my earnings? Your campus earnings are paid to you in the form of a paycheck once a month. What you do with that money is up to you. Your earnings are not applied to your student account unless you go into the Business Office and pay some of your earnings on your account. General Information | Scholarship & Grant Information | Loan Information | Working at Whitman | Addenda | Calendar | Vocabulary   financial aid procedures 23 How does my financial aid get to me? If you have gift aid funds and loan funds, the funds are credited to your student account. Then you have less to pay from your own resources. The gift aid funds are always divided equally between the semesters, and the loan funds are usually divided in the same way. If you earn money working in a job, the money is paid to you to spend any way you wish. 24 If I withdraw from Whitman during the semester, will I get a refund? Will I have to repay my loan for that semester? The answer to this question depends upon when you withdraw. If you are a new student and you withdraw before 60% of the enrollment period has elapsed, the pro-rata refund policy will be implemented. If you withdraw after 60% of the semester has gone by, there will be no refund. Please see Addendum F for details of the pro-rata refund policy. The pro-rata refund policy applies to first time students only. 25 Can my financial aid be used if I study overseas or in an Urban Studies program? Yes, if you study in a Whitman-affiliated program which includes the Institute of European Studies (IES) in several European centers, the Institute of Asian Studies (IAS) in several Asian centers, the ILACA Programs, the Associated Kyoto Program, the University of Manchester Program, the University of Lancaster Program, the University of Saint Andrews Program, the Costa Rica program through the Associated Colleges of the Midwest, the Urban Studies Program, the Philadelphia Urban Semester, and the Washington Semester. If you study in one of these affiliated programs, you will pay the charges for that program to Whitman. The financial aid for which you may be eligible from Whitman will be subtracted from those charges. 26 How do I become an independent student and receive financial aid as an independent student? A student applying for Whitman College scholarship funds is considered independent if he or she: 1) is 24 years old (by December 31st of the award year) or 2) has unusual documentable circumstances which allow and cause the College to consider the student independent. Such circumstances may exist for an orphan, a veteran of the U. S. Armed Forces with at least two years of active duty, a former Peace Corps volunteer with two years service, a single parent, a married student, a ward of the court, or a student who has been totally alienated from his or her parents for very serious and documentable reasons. Historically, married students have been considered independent by Whitman if the student was married at the time he or she enrolled at Whitman. Conversely, a student who is single at the time he or she enrolls (but marries while he or she is a Whitman student) has historically been considered as a dependent student. A student applying for federal student aid funds is considered independent if the student: 1) is 24 years old (by December 31st of the award year); or 2) is a veteran of the U. S. Armed Forces; or 3) is an orphan or a ward of the court; or 4) has legal dependents other than a spouse; or 5) is married; or 6) is a graduate student; or 7) has special circumstances such as documentable alienation from his or her parents. 27 Do the funds I receive from Whitman College and the federal and state governments have any strings attached? Yes. In order to receive financial aid funds from Whitman, the federal government, and the state of Washington, you must maintain good standing and make satisfactory progress towards graduation. The criteria regarding grades and credits are published in the Whitman College catalog. If you do not meet these criteria, you will be placed on probationary status. If you do not meet the grade point standards, you will be placed on academic probation, and if you do not meet the progress standards (earning credits at a rate that would insure graduation in eight semesters), you will receive progress warning. If you are placed on academic probation or receive progress warning, you will also be on probation as a recipient of financial aid. The maximum period of financial aid probation is two consecutive semesters during which time you will maintain your eligibility for financial aid. If you do not resume good standing or satisfactory progress after two consecutive semesters on probation, you will lose your eligibility for all financial aid administered by Whitman. You may, however, appeal for reinstatement through the Admission and Financial Aid Committee. Further, students’ enrollment will be monitored each semester by the Office of Financial Aid Services to insure that recipients of Washington State Need Grants maintain full-time status. If students reduce their enrollment to fewer than 12 credits, they will be placed on probation with regard to eligibility for WSNG. In the ensuing semester such students will not receive WSNG’s unless they are full-time students. If students complete fewer than five credits in any semester, the students will be suspended from the WSNG Program indefinitely. Reinstatement can result only from a petition that should follow at least two semesters in which the student successfully completes 12 or more credits. Also, you must not be in default on a previous student loan or owe a refund on a Federal Pell Grant or Federal SEOG, you must be registered with the Selective Service if required to do so, and you must pledge to use the federal financial aid funds exclusively for educational purposes. In addition, if you receive a Federal Pell Grant you must sign a certification stating that you will not engage in the unlawful manufacture, distribution, dispensation, possession or use of a controlled substance during the period covered by the Federal Pell Grant. 28 What are my responsibilities as a recipient of financial aid? There are many, and you should be familiar with them. They are listed in Addendum A in the back of this booklet. You are the one who wants financial aid, so you should not risk losing it by being unaware of the things you must do to maintain it. 29 Do I have any rights as a financial aid recipient? You surely do. Your rights are listed in Addendum E along with your responsibilities. 30 Do my parents and I have to submit copies of our previous year’s income tax form? Yes, if you receive need-based financial aid. The main reason for this requirement is that the federal government requires us to verify income and other information for a certain percentage of our aid recipients. Therefore, we require tax returns from all parents of returning students be sent to us each year; and tax returns from students who are being verified. The information on the FAFSA and the FAP should agree with the actual income information on the IRS form. Occasionally, as a result of discrepancies, we may have to adjust your scholarship funds. 31 When and how do I repay my student loans? You may defer repayment of your student loans in each of Whitman’s student loan programs from six to nine months after you leave college. You may leave college and then return to college sometime later and have your repayment deferred again. Each loan program has a minimum monthly or quarterly repayment amount, and each loan program has the possibility of stretching out the repayment for up to ten years. Additional information concerning loan repayment may be found in the addenda at the end of this booklet. 32 How do I get financial aid for next year? You must reapply using both the FAFSA and the Profile. You will need to submit the forms to the appropriate processors no later than April 1st. A copy of your parents' tax return needs to be sent to the OFAS no later than May 15th. If the Profile information and your parents' tax return are received in the OFAS no later than May 15th, and you have demonstrated need for the upcoming school year, you can expect to receive an offer of financial aid the first week in June. 33 What do I do if I need $25 or $50 in a pinch? Come to us. We operate a short-term loan program. You may borrow small amounts if you have a legitimate need for the money, and you can repay the loan in 30 days. There is no interest on the loan, but you must repay within the month. If you fail to repay within the month, you are ineligible for any further short-term loans. Each student may have up to three short-term loans during the year unless a dire emergency occurs after you have already received three loans. General Information | Scholarship & Grant Information | Loan Information | Working at Whitman | Financial Aid Procedures | Calendar | Vocabulary   addenda Addendum A: Responsibilities and Rights Financial aid recipients should be responsible:  To understand the nature of the financial aid and commitments made by recipients in accepting the offers and conditions of the offers. To repay loans.  To submit forms (i.e., FAP’s, FAFSA’s, loan applications, affidavits, tax forms, etc.).  To meet deadlines.  To endorse checks and sign vouchers when asked.  To notify lenders of changes in name, address, or school status.  To know and comply with Whitman’s refund policy.  To participate in an exit interview regarding loan repayment when leaving the College. Students have the right:  To learn about and be considered for all financial aid programs for which they are eligible.  To review their FAP’s and FAFSA’s and their needs analysis.  To know the deadlines for applying for aid.  To know costs of the College and Whitman’s refund policy.  To learn about Whitman policies affecting their aid.  To know their responsibilities. Addendum B: Federal Stafford Loan Through the Federal Stafford Loan Program students borrow through lending institutions. Repayment of their loans is guaranteed by a guaranty agency. Students may borrow (subject to eligibility and further limitation by the lender) up to $2625 per year for the freshman year, $3500 for the sophomore year, and $5500 per year for upperclassmen. The total for undergraduate study is $22,625. The loans are made by banks or other commercial lenders. Whether the lender is a bank or a credit union or some other type of commercial lender, a section of the loan application must be processed by our Office of Financial Aid Services. Students must participate in entrance and exit interviews for a Federal Stafford Loan. This can be done in a group or individually with the FSL coordinator. A borrower certification attesting to the borrower’s understanding of his or her rights and responsibilities as an FSL borrower must also be signed by all first-time borrowers before the loan proceeds may be disbursed. Eligibility Whitman must certify the amount of the student’s eligibility for a Federal Stafford Loan. Regulations now require that all students who wish to borrow an FSL must complete the FAFSA. Those students who are notified that they are required to verify the information from the FAFSA must do so by submitting a copy of their parents’ previous year’s tax return (for dependent students), and a copy of the student’s previous year’s tax return before Whitman can certify the FSL application. Students who are not eligible for a subsidized Federal Stafford Loan (the federal government pays the interest on the loan while the student is enrolled at least half-time in college), may borrow an unsubsidized Federal Stafford Loan. With the unsubsidized Federal Stafford Loan (whose limits are the same as for the subsidized Federal Stafford Loan), the student is responsible for the interest on the loan during the entire life of the loan. Students who borrow an unsubsidized Federal Stafford Loan may pay the interest while they are in school (and we strongly encourage students to do so), or they may allow the interest to accrue and pay it along with the principal and interest that accrues during repayment of the loan. Interest Interest will be paid by the federal government to the lender on behalf of the student borrower (for subsidized loans) until the student reaches a repayment status. During repayment the student will pay a variable interest rate. The applicable rate of interest is determined on June 1 of each 12-month period and is equal to the bond equivalent rate of 91-day Treasury bills prior to June 1, plus 3.1%. The interest rate may not exceed 9%. Repayment Although a loan may be repaid at any time without penalty, the usual repayment of the loan begins six months after leaving higher education (including graduate school). Repayment schedules will normally be arranged for five to ten years, although the student will be required to pay a minimum of $50 per month. Deferments Under any of the following circumstances students who owe an outstanding FSL may defer repayment: full-time study at an eligible school; study under an eligible Graduate Fellowship Program approved by the Department of Education; study under a Rehabilitation Training Program approved by the Department of Education for disabled individuals; a period of active duty in the Armed Forces or U. S. Public Health Service, or as a Peace Corps Volunteer or as a volunteer for an organization which is exempt from taxation under Section 501(C) (3) of the Internal Revenue Code of 1954 (such as VISTA); a period of temporary disability, or for a period of unemployment because of caring for a disabled spouse (not to exceed three years); internships for professional practice certified from the appropriate state licensing agency stating that the successful completion of the internship is required in order to begin professional practice or service (not to exceed two years); or periods of unemployment (not in excess of a total of 24 months). Deferments are also available for half-time study at an eligible school, active duty with the National Oceanic and Atmospheric Administration Corps; and full time elementary or secondary teaching in a private or public school in a shortage area approved by the Department of Education. Also, mothers with preschool children re-entering the workforce at less than $1 above minimum wage (not to exceed 12 months); and parental leave during which the borrower is pregnant, caring for his or her newborn child or caring for his or her adopted child immediately following adoption, may request a deferment. The borrower must either be attending an eligible school or gainfully employed and must have been enrolled at an eligible school on at least a half-time basis, at some time during the six months preceding the period of parental leave (not in excess of six months). Fees Two fees are required by the lender and paid by the borrower. The fees are paid only once for each loan and are subtracted from the proceeds of the loan. The origination fee of 3% replaces a part of the federal interest subsidies usually paid by the federal government. Addendum C: Federal Perkins Loan Eligibility The law requires that borrowers demonstrate the greatest need when compared to their classmates’ need to be eligible for a Federal Perkins Loan. It also requires that they be, in the opinion of their institutions, capable of maintaining good standing in their chosen course of study. The amount of Perkins, when combined with other financial aid, cannot exceed a borrower’s demonstrated need. Terms of Loan The student must sign a promissory note for his or her loan. The aggregate of the loans for all years from such funds may not exceed $30,000 in the case of a graduate student or $15,000 for an undergraduate student. No more than $3000 may be awarded per year. Repayment of the principal and interest of the loan begins nine months after the borrower leaves higher education or eligible deferment status. Interest of 5% per year begins to accrue at the end of the grace period. The student may have up to ten years to repay the loan. Federal Perkins Loan payments are deferred: (1) for any borrower in school at least half-time or for any borrower pursuing a course of study pursuant to a graduate fellowship program or pursuant to a rehabilitation training program for disabled individuals (programs must be approved by the Secretary)–except that no borrower is eligible for a deferment under this clause while serving in a medical internship or residency program; (2) for up to three years during which the borrower is seeking and unable to find full-time employment; (3) for up to three years for economic hardship, defined pursuant to regulations by the Secretary; or (4) during any period in which the borrower is engaged in certain community services activities such as the Peace Corps, VISTA, Oceanic & Atmospheric Administration Corps and U. S. Public Health Service. Generally these deferments are two or three years, depending upon the service area. In addition, deferments will be approved for students engaged in graduate or postgraduate fellowship-supported study outside the U. S. until the completion of the period of the fellowship. Forgiveness of Repayment Eligibility for loan cancellation is provided to employment categories including: (1) full-time special education teachers, including teachers of infants, toddlers, children, or youth with disabilities in a public or other non-profit elementary or secondary school system, or as a full-time qualified professional provider of early intervention services in a public or other non-profit program under public supervision by the lead agency as authorized in section 676(b)(9) of the Individuals with Disabilities Act; (2) full-time teachers of mathematics, science, foreign languages, bilingual education, and other shortage fields determined by the state’s education agency; (3) full-time nurses and medical technicians providing health care services; and (4) full-time employees of public or private non-profit child or family services agencies who are providing, or supervising the provision of, services to high-risk children who are from low-income communities and the families of such children. The amount of the loan that may be canceled is as follows: Up to 100% for full-time teaching in a public or non-profit elementary or secondary school serving students from low-income families or disabled students; or for full-time service as a qualifying law enforcement or corrections officer at the following rate: 15% of the original principal loan amount, plus the interest that accrued during the year, for each of the first and second years; 20% for each of the third and fourth years, and 30% for the fifth year. Up to the 100% for full-time service as a staff member in a preschool program carried out under the Head Start Act; the cancellation rate is 15% per year of the original principal loan amount plus the interest that has accrued during the year. Up to 50% for service in the U. S. Armed Forces in an area of hostilities or an area of imminent danger that qualifies for special pay under Section 310 of Title 37 of the U. S. Code. The cancellation rate is 12 1/2% of the original principal loan amount plus the interest that has accrued for the year. Up to 70% for service as a Peace Corps volunteer or volunteer under the Domestic Volunteer Service Act (ACTION programs) at the following rate: 15% of the original principal loan amount plus the interest that has accrued during the year for each of the first and second 12-month periods of service, and 20% for the third and fourth 12-month periods of service. Addendum D: Whitman Refund/Repayment Policy If a student withdraws during the semester and the student is receiving federal student aid, the College will determine the amount of charges owed by the student based upon the percentage of time the student has been in attendance. The maximum amount of time a student may attend classes and have funds returned to any of the federal programs is 59% of the semester. For a student who receives Whitman scholarship, the calculation of charges and amount owed by the student or returned to the scholarship funds, is based on the number of days attended by the student. A chart detailing the calculation for Whitman scholarship funds follows the example. This information about Refund/Repayment replaces the current policy outlined in the 1999-2000 Whitman Catalog. While much of the information is similar to that in the catalog, there are significant differences of which you should be aware. The most important of these differences is that the calculation for the return of federal student aid funds to the programs is completely separate from the calculation of charges and refunds with regard to Whitman scholarship. Example: Jane, a sophomore, last attends class on October 14. She has attended 31 days of classes and the percentage of her charges will be 43% (31 divided by 72). The amount of the refund (total costs for the semester less actual charges) is then 57%. Fixed charges for the semester $13,900 Jane’s federal financial aid for the semester: Subsidized Stafford Loan $ 500 Parent PLUS Loan 3,000 Perkins Loan 1,500 Total $5,000 Jane’s Scholarship for the semester $8,100 Refunded to programs 2,850 (57% of $5,000) The refund would then be: Subsidized Stafford Loan $ 500 Perkins Loan $ 1,500 PLUS Loan $850 Total refunded to federal programs $2,850 For federal student aid funds, the College must follow the federal guidelines when calculating charges and refunds. However, the College may follow its own policies with regard to charges and refunds of its own scholarship funds, so the following chart would be used to determine the student’s total charges and refunds for the semester: Time frame Percentage of refund to student or scholarship fund: The first day of the semester 100% Day two through day eleven 80% Day twelve through day sixteen 60% Day seventeen through day twenty-one 40% Day twenty-two through day twenty-six 20% After day twenty-six no refund Thus you can see that Jane would receive no refund from the institution, and the charges for the semester would be $13,900, of which $2,150 would be covered by the parents’ PLUS Loan and $8,100 in Whitman Scholarship. The remainder of the balance ($3,650), would be the amount Jane and her family would owe to the College. The following is a list, in order, of the various programs to which funds will be returned for students whose aid must be adjusted because of withdrawal or LOA during any given semesters. 1. Unsubsidized Federal Stafford Loans 2. Subsidized Federal Stafford Loans 3. Unsubsidized Federal Direct Stafford Loans 4. Subsidized Federal Direct Stafford Loans 5. Federal Perkins Loans 6. Federal PLUS Loans 7. Federal Direct PLUS Loans 8. Federal Pell Grants 9. FSEOGs 10. Other SFA Programs 11. Other federal, state, private, or institutional sources of aid 12. The student   Addendum E: EdVantage Student Loan The EdVantage Loan is available to students who have limited eligibility for Federal Stafford Loan, or any student who wishes to borrow beyond the maximum limit of the Federal Stafford Loan Program. Students may request up to the cost of education less any financial aid they are receiving. The minimum loan will be $500 per year. A creditworthy cosigner is required for all loans. In most cases this will be the student's parents or immediate family member. However, exceptions as to whom the comaker is will be considered on a case-by-case basis. Interest and minimum payment Interest on the EdVantage loan is 8% while the student is enrolled at least 1/2 time at Whitman College. Interest only payments will be made twice yearly during the in-school , grace and graduate school periods. However, the student has the option of paying a minimum of 2% of the principal annually. Application and Fees Applications for the loan are available in the Office of Financial Aid Services. A fee equal to 3% of the loan will be deducted from the loan proceeds, which will be disbursed at the beginning of each semester. A processing and credit check fee of $30.00 should be mailed with the original application to Whitman College, Office of Financial Aid Services, 515 Boyer, Walla Walla, WA 99362. Repayment Repayment of the principal and interest will begin six months after the student leaves college or ceases to be enrolled at least 1/2 time. There are no penalties for prepayment of the loan. The repayment period for all loans of $20,000 and less will be ten years. For loans exceeding $20,000, the maximum repayment period is fifteen years. General Information | Scholarship & Grant Information | Loan Information | Working at Whitman | Financial Aid Procedures | Addenda | Calendar | Vocabulary   Calendar When to Do Financial Aid Things April 1 FAFSA's and FAP's for returning students should be mailed to the processor. Parents should submit to the OFAS a copy of their previous year's tax return. May 15 All documents required for the student's file are due in the OFAS. For those students who are being verified, documents would include a copy of the student's previous year's tax return and the Verification Statement. June Offers of financial aid are mailed to returning students around the first of the month. Returning students should submit signed offer letters and Stafford Loan applications to the OFAS. July Completed Perkins Loan applications should be in to the OFAS by the end of July in order for them to be processed and the proceeds of the loan to be credited to the student's account by the beginning of Fall Semester. August Pay first semester charges. Seek employment in the Personnel Office in Memorial 102 or on Whitman's Web Site. October Recipients of Washington State Need Grants sign warrants in the OFAS. November FAFSA's and the FAP's for the next school year become available in the OFAS. January 1 Completed FAFSA's for the next school year accepted by the Central Processor. Scholarship Improvement applications are available in the OFAS. February Sign second semester WSNG warrant. Scholarship Improvement applications are due in OFAS. General Information | Scholarship & Grant Information | Loan Information | Working at Whitman | Financial Aid Procedures | Addenda | Calendar Vocabulary FAP Financial Aid Profile. The confidential financial statement a student submits to the College Scholarship Service (CSS) for needs analysis. Whitman's CSS code is 4951. FAFSA Free Application for Federal Student Aid. Whitman's federal code is 003803. Federal Methodology The formula used to determine students' need for federal student aid funds. Federal Pell Grant Federal gift aid for which a student applies using the FAFSA. Federal Perkins Loan Federal student loan. Low interest combined with deferments and forgiveness in some cases. Federal SEOG Supplemental Educational Opportunity Grant, federal grant money awarded by a college. Federal Stafford Loan Federal student loan. Interest is paid by the government while the student is enrolled in college. Financial Aid Any kind of assistance including scholarship, federal and state grants, loans, and employment. Gift Aid Financial Aid that does not have to be paid back, i.e., scholarship and federal and state grants. Need The difference between a family's computed contribution for college expenses and the college's budget. OFAS Office of Financial Aid Services. SAR Student Aid Report. This is the official document that states a student's qualification for federal student aid funds. Whitman receives your SAR electronically if you indicated on the FAFSA that you wanted Whitman to receive the information. Self-help Loan and/or employment. Whitman Methodology The formula used by Whitman to determine students' need for Whitman scholarship funds. WSNG Washington State Need Grant, a state grant applied for by Whitman on behalf of qualified students. General Information | Scholarship & Grant Information | Loan Information | Working at Whitman | Financial Aid Procedures | Addenda | Calendar | Vocabulary