Financial Aid

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How Financial Aid Works

Financial need is determined using information you and your parents supply when you complete and submit the Free Application for Federal Student Aid (FAFSA). The information you provide on the FAFSA is processed using a Federal Methodology (FM) established by the United States Congress. The FM calculates your Expected Family Contribution (EFC), i.e., the amount you and your family are expected to contribute toward your education.

When you complete a FAFSA, renewal FAFSA or electronic FAFSA, the federal processor will send you an acknowledgment that your application was processed. This acknowledgment will contain your EFC. The federal processor electronically transmits the analysis of the data you submitted to each institution you specified on the FAFSA.

Each college or university determines an estimate of how much it will cost for you to attend school, including tuition and fees, books and supplies, room and board, personal expenses, transportation and miscellaneous expenses. This is called your Cost of Attendance (COA) and it will vary from one institution to another. Take a look at our cost of attendance.

To determine your financial need, your expected family contribution is subtracted from the cost of attendance:

Your Financial Aid Package

Once we receive the results of your FAFSA and other required forms, we will create your financial aid package, based on your financial need. It is UNCW's policy to award scholarships and grants first, followed by employment and loans for which you qualify. You may receive some types of financial aid, in excess of your need, up to the Cost of Attendance.

First-time (freshmen and transfer) students receive a paper Financial Aid Notification outlining the financial aid being offered. This notice will include general information about each award offered and instructions for accepting or rejecting each award. After the first notification, subsequent award adjustments/updates are sent to the student's UNCW email address. Email notifications will refer the student to UNCW SeaNet for detailed award information and instructions. After classes begin, and where possible, all correspondence from the OSFA to the student is sent to campus email addresses. Students should check their UNCW email regularly. Note: Upon written request, a paper award letter may be mailed to the student. One should note, however, that handling the award process by postal mail will result in significant delays.

Special Circumstances

While the process of determining financial aid eligibility is basically the same for all applicants, there is some flexibility for specific circumstances. At UNCW, your financial aid counselor determines whether your special circumstances merit changes in the data elements which determine your Expected Family Contribution or your Cost of Attendance. UNCW uses standards recommended by the National Association of Student Financial Aid Administrators. Situations which might merit special circumstances consideration include:

1. Reduction of income due to loss of Child Support, Alimony, and/or Social Security benefits.
2. Loss or reduction of household income due to death, permanent disability, and/or separation/divorce (for independent students or parents of dependent students).
3. Unusual medical and dental expenses, paid in the year for which income is reported on the current Free Application for Federal Student Aid (FAFSA), and not subject to reimbursement by insurance (for independent students or parent of dependent student). Example: For the award year 2011-2012, unusual medical and dental expenses occurred during the 2010 tax year.
4. Reduction of earned income in the current year greater than or equal to 20% of earnings in the year for which income is reported on the current Free Application for Federal Student Aid (FAFSA). Earnings of both student and spouse, if an independent student, or earnings of both student and parents, if a dependent student, must be considered. Generally, adjustments in this category are not considered until August or later. Example: For the award year 2009-2010, anticipated family income in 2009 will be at least 20% less than the actual 2008 family income reported on the 2009-2010 FAFSA.
5. Expenses required for a Special Needs child or dependent adult, e.g., private school, special services, equipment, etc., not covered by other sources or parent.
6. Family hardship due to natural disaster, e.g., fire, hurricane, tornado, flood, etc. Reduction of earned income may also apply.
7. A family and financial situation where a student normally considered dependent could be considered independent.

If you feel you have any special circumstances that might affect the amount you and your family are expected to contribute, talk with your financial aid counselor. See our contact information to determine how to contact your counselor.

Receiving Your Financial Aid

The Student Accounts Office is responsible for disbursing your financial aid. Your financial aid is applied directly to institutional charges (tuition, fees, room and board). Any excess funds will be available to you within 14 days of the date the credit balance occurs or within 14 days of the first day of classes, whichever is later. Financial aid student refunds are disbursed to students by direct deposit. Students should log-on to SeaNet and their E-Bill information to set up direct deposit into an existing bank account.