Financial Aid Procedures

Helpful Hints for the Federal Aid Process:

• Complete the FAFSA on the Federal Student Aid website as soon as possible after applying for admission. Wilmington University’s aid year begins with fall and ends with summer.
• Be sure to include Wilmington University’s school code (007948) to your FAFSA application.
• The Financial Aid Office encourages students to use the IRS Data Retrieval Tool located within the FAFSA to download your Federal Tax Information when completing the FAFSA.
• Applicants who intend to borrow through the Federal Direct Loan Program must also complete a Master Promissory Note and Entrance Counseling on the Federal Student Aid website.

Financial Aid Offers for Law Students

Financial aid offers are presented only after all admission and financial aid requirements have been satisfied and the applicant has been formally admitted to Wilmington University School of Law. Admitted students who have applied for federal student aid (FAFSA) and completed all financial aid requirements will be presented with a financial aid offer that includes:

• A Federal Direct Stafford Unsubsidized Student Loan
  A Direct Student Loan is money authorized by the Federal Government to help pay for your college costs. These funds must be paid back to your lender upon graduation or your withdrawal from school. Graduate or Professional students are only eligible to borrow unsubsidized Direct Student Loans. The aggregate borrowing limit for a Direct loan is $138,500.00. This amount includes loans borrowed for undergraduate, graduate, and post graduate level studies.
• A Federal Direct Graduate PLUS Loan
  Direct PLUS Loans are loans available to graduate/professional students to help pay for educational expenses up to the cost of attendance minus all other financial assistance awarded. The Graduate PLUS loan is a supplemental loan and may be the only form of federal aid offered if the student has reached their Federal Direct loan aggregate borrowing limit. Students who wish to accept/utilize this loan will need to separately Apply for a PLUS Loan for Graduate or Professional Students on the Federal Student Aid website. Applicants with an adverse credit history are not eligible for PLUS loans unless they have an approved endorser.

Wilmington University Law Students are also eligible to receive:

• Federal Work Study
  Federal Work-Study (FWS) is a federally funded financial aid program awarded to students based on their eligibility determined by the Free Application for Federal Student Aid (FAFSA) along with other financial aid criteria. Funds awarded are earned by working in an eligible FWS position and distributed via bi-monthly paychecks.
• Scholarships
  A number of Wilmington University scholarships are awarded annually and provide support for students based on merit, financial need, and other criteria. Students must apply for scholarships via the scholarship portal. Deadlines, eligibility criteria, and requirements for scholarships vary.
• Private/Alternative Loans
  Many students choose to supplement federal student aid with a private education loan. Private (or Alternative) loans are recommended only after a student has exhausted all other sources of financial aid, including grants, scholarships, Work-Study, and federal student loans. The maximum amount a student may borrow per academic period is the total cost of attendance budget minus all financial aid received. Lender terms and conditions will vary; therefore, it is important to research each loan program.

How Wilmington University School of Law Students Receive Accepted Aid

Once a student accepts any loans offered, the financial aid office will disburse aid to the student billing account on (or after) the dates published below as long as the student meets all of the eligibility requirements for aid disbursement.

Aid Disbursement Dates

Semester	Authorized Aid Disburses to Billing Accounts
Fall 2023	Friday, August 11, 2023
Spring 2024	Friday, December 29, 2023

If the amount of aid exceeds a student’s tuition and fees, then the remaining credit balance will be refunded to the student no more than 14 days after the funds have been disbursed to the student’s billing account.

All Wilmington University students must select a refund preference via myWilmU Payment Center in order to receive any credit balances owed to them.