The following information is provided to explain the sources of aid which may appear on your financial aid notice and how these funds are credited to your charges for tuition, fees, housing and food.
If you have any questions about how these circumstances could affect your eligibility for need-based aid in subsequent years, please contact the Office of Financial Assistance.
Important note regarding the crediting of funds to your student account: If you received a Tentative Financial Aid notice, your aid will NOT credit to your student account. Once the Office of Financial Assistance receives your missing documents, they are reviewed against the information submitted on the FAFSA and CSS Profile. The Office of Financial Assistance will issue credit to your student account only after all documentation is submitted and, if selected for Federal Verification, all requirements are satisfied.
A student must be a US citizen or eligible non-citizen to qualify for Federal and State funding. Students who reside in the United States but do not hold an immigrant visa are not eligible for federal or state funding.
Federal Pell Grants are need-based grants provided by the federal government to qualified undergraduate students who demonstrate exceptional financial need and have an Expected Family Contribution (EFC) below a threshold designated annually by the US Department of Education based on the amount of program funds appropriated by Congress.
State funded program provides grants to state residents who demonstrate the highest level of financial need as determined by the results of the FAFSA. Amount varies and is based upon enrollment status. Any state grant amount listed in your financial aid notice is an estimate and becomes finalized only when your state agency notifies Villanova University’s Office of Financial Assistance. If at a later time you receive a state grant that is not reflected in your aid notice, your Villanova University Grant may be reduced by the amount of the state grant.
The amount of the need-based Villanova University Grant is determined each year based on the information on the CSS Profile and after the Office of Financial Assistance has received and reviewed all financial aid applications and documents. Therefore, this need-based grant amount is subject to change each year as a family’s financial information, household size and number enrolled in undergraduate college changes. This need-based grant is awarded for a maximum of four academic years (8 consecutive semesters), excluding summer terms, to undergraduate daytime students who are enrolled full-time (a minimum of 12 credits per semester). Grant funds are credited to your account at the time of enrollment.
Net operating losses, siblings over 23 years of age, parents enrolled in undergraduate or graduate school, siblings enrolled in graduate school, pursuing a second baccalaureate degree, or enrolled on a part-time basis, enrolled at a community college or in a non Title IV eligible institution are not considered in determining the Expected Family Contribution (EFC) for purposes of awarding the need-based Villanova University Grant. The net value of a business or farm and information from the CSS Profile is included in determining eligibility for this grant.
Endowed scholarship funds may replace a Villanova University Grant after the school year begins. If any changes are made to the student’s financial aid, the student will be notified.
Important Note: Villanova University Grant when combined with outside privately funded or non-need based gift aid and scholarships, cannot exceed need. If need is exceeded, an adjustment is made to reduce self-help aid first (loans, Federal Work Study) then grant funds.
The need-based Villanova University Grant is awarded to you based on demonstrated financial need. The amount of need-based Villanova Grant listed in your financial aid notice will not increase during your four years at Villanova University.
To receive this grant, you must be enrolled as an undergraduate full-time, day college student for a minimum of 12 credits per semester. A student can receive the Villanova University Grant for a maximum of four academic years (8 consecutive semesters) and, it is not applicable to the summer term. Please remember that you must reapply each year. If your aid notice is tentative (documents are missing or incomplete), credit will be issued after your file is complete. Otherwise, credit will be issued at the time of billing. Please note that your Villanova University Grant may be replaced by endowed scholarship funds after the school year begins.
The following items are not considered when determining the Expected Family Contribution (EFC) or awarding the need-based Villanova University Grant: net operating losses; siblings over 23 years of age; siblings pursuing a second baccalaureate degree, enrolled at a community college, or enrolled on a part-time basis; or parents enrolled in undergraduate or graduate school. The net value of a business or farm and information from the CSS Profile is included in determining eligibility for this grant.
While we recognize that some students' countries may experience currency devaluation over their tenure at Villanova University, the University is unable to provide additional funding to account for any currency fluctuations.
Villanova University awards this need-based federal grant. Students who are eligible for a Federal Pell Grant and who demonstrate the greatest financial need receive priority. FSEOG funds are credited at the time of enrollment. Awarding is contingent upon funding and may or may not be renewed year to year.
Nursing Student Loan
Students majoring in Nursing may be eligible for this fixed-rate, low-interest loan (currently at 5%), which becomes payable nine months after you leave the University or drop below half-time. You will be required to complete an online process, which includes an Entrance Interview, Truth in Lending Agreement (TILA), and Promissory Note, prior to the beginning of classes if you have been awarded and accept a Nursing Loan.
A program that provides part-time employment to students attending institutions of higher education who need the earnings to help meet their costs of post-secondary education and encourages students receiving FWS assistance to participate in community service activities. This is a need-based federal employment program for eligible full-time undergraduate students. Paychecks earned under FWS are not deducted from your student account (tuition bill) but can be used toward your personal expenses. Please consider this when determining the amount owed on your student account. If you have qualified for FWS, more information about this program will be sent to you at a later date. Please note: If your aid notice doesn't indicate federal work study, you may still be eligible for student employment. Student employment is an on-campus or approved off-campus job. It is money that needs to be earned; it is not money that is credited to your student account.
Student employment is awarded to students based on financial need. It is money that needs to be earned; it is not money that is credited to your student account.
If your aid notice lists Student Employment please understand the following:
Federal Direct PLUS Loan is an easy way for parents to help finance their child's education. Federal Direct PLUS Loans can supplement any of the Federal Direct Loan variations or the Expected Family Contribution. Federal Direct PLUS Loans are not based on need but on a parent's creditworthiness. A parent must be a US citizen or eligible non-citizen to apply for the loan. Federal Direct Loans are funded by the US Department of Education through Villanova University and are managed by the Federal Direct Loan Servicing Centers, under the supervision of the Department of Education.Top
Subsidized Direct Loan
This is a federal need-based educational loan available to undergraduate students who are enrolled at least half-time in a degree program. The federal government pays the interest on the loan during your period of enrollment of at least a half-time basis. Top
Unsubsidized Direct Loan
This is a federal educational loan available to students who are not eligible or have limited eligibility for the Subsidized Direct Loan. Students may borrow under the same terms as the Direct Subsidized Loan; however, at no time does the government subsidize the loan through payment of interest.
Details about Subsidized and Unsubsidized loans are located in the Villanova University Financial Aid Assistance Booklet and the Financial Assistance web site. You will be required to complete an online process (described below) prior to the beginning of classes if you have been awarded and accept either of these loans.
All first-time borrowers will need to complete Entrance Counseling and a Master Promissory Note, prior to funds being credited to your student account, online at: https://studentaid.gov.
In the process of paying for college, your objective should be to satisfy the balance of tuition costs without spending too much on interest from loans. Our objective is to provide you with a strategy to accomplish this.
You may finance the balance through a variety of options described in more detail on our website. These include an interest-free payment plan, a Federal Direct PLUS Loan, and private educational loans.
To enroll in the Payment Plan Option provided by Nelnet, you may sign-up via their website at https://mycollegepaymentplan.com/villanova .
For information regarding the Federal Direct PLUS and private educational loans, as well as the application process, please visit http://www1.villanova.edu/villanova/enroll/finaid/financing.html.
The following circumstances could affect your financial aid eligibility:
Contact the Office of Financial Assistance in writing if any of these circumstances apply to you.