Loans
Private Student Loans
Students wishing to review their options for private loans are encouraged to go to: www.elmselect.com. Please note that Wilkes-University does not have a preferred lender and private loan options are processed through ElmSelect for all students.
Federal Student Loans
Subsidized and unsubsidized loans are federal student loans for eligible students to help cover the cost of higher education at a four-year college or university, community college, or trade, career, or technical school. The U.S. Department of Education offers eligible students at participating schools Direct Subsidized Loans and Direct Unsubsidized Loans. (Some people refer to these loans as Stafford Loans or Direct Stafford Loans.) *Please note that Graduate students are not eligible for Subsidized Student loans.*
Direct Unsubsidized Loans
- Direct Unsubsidized Loans are available to undergraduate and graduate students; there is no requirement to demonstrate financial need.
- Your school determines the amount you can borrow based on your cost of attendance and other financial aid you receive.
- You are responsible for paying the interest on a Direct Unsubsidized Loan during all periods.
- If you choose not to pay the interest while you are in school and during grace periods and deferment or forbearance periods, your interest will accrue (accumulate) and be capitalized (that is, your interest will be added to the principal amount of your loan).
Direct Plus Loans
Direct PLUS Loans are federal loans that graduate or professional students and parents of dependent undergraduate students can use to help pay for college or career school.
PLUS loans can help pay for education expenses not covered by other financial aid.
The U.S. Department of Education makes Direct PLUS Loans to eligible parents and graduate or professional students through schools participating in the Direct Loan Program.
A Direct PLUS Loan is commonly referred to as a parent PLUS loan when made to a parent, and as a GRAD PLUS loan when made to a graduate or professional student.
- The U.S. Department of Education is your lender.
- You must not have an adverse credit history. A credit check will be conducted. If you have an adverse credit history, you may still be able to receive a PLUS loan if you meet additional requirements.
- The maximum PLUS loan amount you can receive is the cost of attendance (determined by the school) minus any other financial aid received.
Important Terms
Wilkes-University Enrollment Status Policy:
In determining enrollment status, Wilkes-University includes all credit courses offered through resident instruction and distance education. Credits earned by credit-by-exam or credit-by-portfolio, and courses enrolled as “audit” are excluded from the calculation. The reported enrollment status for the three enrollment periods (fall, spring and summer) is determined as follows:
Undergraduate
Most undergraduate programs at Wilkes-University require full time enrollment (12 or more credits per semester). Note that most academic programs require between 14-18 credits each semester based on the progression of the curriculum. Financial assistance from University sources requires full time enrollment. All institutional grants and scholarships are subject to this policy.
With the exception of the federal Pell Grant, all other sources of state and federal grants and loans require a minimum of half time enrollment (6 credits per semester)
Graduate (Masters, DNP, EDD)
Graduate students must maintain at least half time status to receive Federal Direct Stafford or Graduate PLUS Loans. Half time status for graduate programs is typically defined as 6 credits each semester based on the progression of the curriculum. Graduate students enrolled in fewer than 6 credits who are working on a thesis or dissertation may be eligible for federal loans if one of the following special circumstances apply:
SPECIAL CIRCUMSTANCES:
- After completing all required coursework, a master’s level student may be considered half-time while enrolled in a 3 credit hour thesis course. This half- time status may be maintained for two semesters.
- After entering candidacy status, a doctoral student may be considered full-time while enrolled in a 3 credit hour dissertation course. A doctoral candidate may maintain full-time status in this fashion until completion of the number of dissertation credit hours specified by their program and designated on the plan of study.
Graduate (PhD)
PhD students must maintain at least half time status to receive Federal Direct Stafford or Graduate PLUS Loans. Half time status for PhD students is defined as 3 credits each semester based on the progression of the curriculum.
Years five and six of the Pharmacy program entail coursework considered to be at the post-baccalaureate level. For financial aid purposes, you are identified as a “professional or graduate level student” in these years. The exception is that students who have earned a bachelor’s degree prior to entering pharmacy school will be considered a graduate-level student for the four professional years. Students enrolled at this level of study in the Pharmacy program are independent for financial aid purposes and only qualify for financial aid available to graduate and professional students. Typically, this financial aid includes the federal unsubsidized Direct Loan (with an annual loan maximum of $33,000), Graduate Direct PLUS Loan (after the student has used his/her unsubsidized loan eligibility for the year), and private loans. Currently enrolled fifth and sixth year Pharmacy students do not qualify for any federal, state, or institutional grants and limited scholarships. However, academically successful Pharmacy students will retain 30% of their merit-based scholarship, per year, in the final two years of the professional program.
Enrollment Chart:
Undergraduate
| Enrolled Credits |
Enrollment Status |
| 12+ |
Full-Time |
| 9-11 |
Three Quarter Time |
| 6-8 |
Half-Time |
| Less than 6 |
Less than Half-Time |
Graduate (Masters, DNP, EDD)
| Enrolled Credits |
Enrollment Status |
| 9+ |
Full-Time |
| 6 |
Half-Time |
| Less than 6 |
Less than Half-Time (Refer to “Special Circumstances” for Exceptions) |
Graduate Nurse Certificate Programs
| Enrolled Credits |
Enrollment Status |
| 6+ |
Full-Time |
| 3 |
Half-Time |
| Less than 3 |
Less than Half-Time |
Graduate (PhD)
| Enrolled Credits |
Enrollment Status |
| 6+ |
Full-Time |
| 3 |
Half-Time |
| Less than 3 |
Less than Half-Time |
Institutional and Financial Assistance Information
Wilkes University subscribes to the belief that the primary responsibility for financing the cost of higher education rests with the student and his or her family, but Wilkes remains committed to providing resources to make the cost of earning a degree affordable. Toward that end, the University is committed to assisting students through options in regard to federal and private funding sources.
Financial assistance for qualified students is awarded in the form of financial aid packages, which consist of funding sources, such as loans, scholarships and grants. All students are encouraged to apply for financial assistance.
Students with questions about graduate financial aid or students seeking applications for financial aid should contact the Graduate Financial Services Office or Admissions Office representative at the nearest Wilkes office. More detailed information regarding the financial aid programs and requirements is included in the Consumer’s Guide to Financial Aid, Costs, and Charges at Wilkes University, which is also available on the Wilkes University Web Site.
Financial Aid Application Procedures
At Wilkes University, we ask students and families to complete the Free Application for Federal Student Aid (FAFSA) if they are interested in being considered for any of the following programs in Graduate Financial Aid:
- Federal Student Loan Programs
- Federal work-study
NOTE: Students must be regularly accepted in a degree-seeking program for admission at the University before their application for financial aid will be considered.
Free Application for Federal Student Aid (FAFSA)
Typically, you must meet the following requirements before applying for financial aid through the Department of Education (www.studentaid.gov):
- Be a U.S. citizen or eligible non-citizen with a valid Social Security number
- Have a high school diploma or a GED certificate
- Be enrolled or accepted for enrollment in a qualifying degree or certificate program
- Maintain satisfactory academic progress while in school
- Not be in default on a loan made under any Title IV, HEA loan program or owe a repayment on any Title IV funds
- Be registered for the appropriate number of credits for the semester in which you are applying for financial aid
NOTE: Non-degree seeking students are not eligible for federal or state financial assistance.
Students can being to file the FAFSA on or after October 1 preceding the year they are seeking financial aid. For example, students looking to attend for the 2025-2026 academic year could file the FASFA on or after October 1, 2024.
Renewal of Financial Aid
Financial aid is awarded on an annual basis. The renewal of financial aid is not automatic and failure to submit renewal applications may result in the loss of financial aid. Students must, therefore, reapply for financial assistance each year, and renewal of awards is based on the timely completion of all required documents and on the student’s continued eligibility for assistance.
The deadline for requests for renewal of financial aid is May 1. In addition to demonstrating continued financial need, students must also meet specific academic progress requirements to qualify for renewal. These requirements are explained in detail and can be found on the Wilkes-University website under Consumer Information, Student Financial Assistance, Satisfactory Academic Progress Policy.
Veterans’ Assistance (VA) Programs
Interested persons should contact the Office of Student Financial Services and/or their local VA Office to obtain information concerning GI Education Assistance, Veteran Work-Study Program, and other sources of veterans’ assistance. Wilkes University participates in the Yellow Ribbon Program of the U.S. Department of Veterans Affairs. For details about this particular program, go to: ttps://wilkes.edu/admissions/financial-aid/yellow-ribbon-program-for-veterans
Veterans Benefits and Transition Act of 2018
The University complies with the Veterans Benefits and Transition Act of 2018 (38 USC 3679(e)), and will not impose any penalty, including the assessment of late fees, the denial of access to classes, libraries, or other institutional facilities, or the requirement that a covered individual borrow additional funds, on any covered individual basis due to the delayed disbursement of a payment by the VA under chapter 31 or 33 veteran educational assistance entitlement.
All Covered individuals (anyone who is entitle to educational assistance under chapter 31, Vocational Rehabilitation and Employment, or chapter 33, Post-9/11 GI Bill® benefits) are requested to provide a written request of use of these entitlements and will be permitted to attend or participate in the course of education beginning on the date on which the individual provides to the educational institution a certificate of eligibility for entitlement to educational assistance under chapter 31 or 33 (a “certificate of eligibility” can also include a “Statement of Benefits” obtained from the Department of Veterans Affairs (VA) website eBenefits, or a VAF 28-1905 form for chapter 31 authorization purposes). the Certificate of Eligibility or Statement of Benefits is required to be submitted no later than the first day of courses for which an individual wishes to use the individual’s entitlement to education assistance in order to provide proper and timely certification and disbursement of VA funding. Additionally, all covered individuals will be required to provide any and all additional information necessary to complete the proper certification of enrollment by the institution within 10 days of notice.
This policy does not prevent the University from requiring that the difference between the amount of the student’s financial obligation and the amount of the VA education benefit disbursement be satisfied.
GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government website at www.benefits.va.gov/gibilll.
Withdrawal - Return of Financial Aid Funds
The Return to Title IV Funds (R2T4) policy applies to any student who receives federal financial aid, begins classes, and subsequently either withdraws from the courses the student was scheduled to complete or receives all failing grades because the student ceases enrollment at some point during the semester but neglects to complete the formal withdrawal process (known as an unearned “F”) during a semester or payment period. When students withdraw from their courses for any reason, including medical withdrawals, they may no longer be eligible for the Title IV funds the student was originally scheduled to receive. Since financial aid is “earned” each day a student participates, you may be expected to repay the “unearned” portion of your financial aid. You are also required to complete exit counseling at studentaid.gov if you borrowed federal loans. Wilkes University follows the federally prescribed policies and procedures for calculating whether the student has earned all or a portion of their federal financial aid.
The date of withdrawal will be the date the student begins the withdrawal process at the Registrar’s Office unless attendance in class is documented after that date; in that case, the last date of documented attendance will be the official date of withdrawal. Students who do not follow the official withdrawal procedure but who stop attending classes for all of their courses will be considered to have withdrawn at the 50% point of the semester unless attendance is documented after that time. There will be no adjustment to federal financial aid after the completion of at least 60% of the semester.
Once the amount of the federal fund to be returned has been calculated, the funds will be returned in the following order:
- Federal Direct Unsubsidized Stafford Loans
- Federal Direct Grad PLUS Loans.
Please note that students who receive a refund of financial aid prior to withdrawing from the University may owe a repayment of federal financial aid funds received. Students will be contacted by a Wilkes University representative in such situations and will be given 30 days to repay the funds to the University. Students who fail to return the unearned portion of federal financial aid funds given to them will become ineligible for continued receipt of financial aid until such time as the repayment is made.
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