Frequently Asked Questions

How do I log onto my MyNova account?

Go to https://mynova.villanova.edu and you will see a Sign In option in the top right area of the page. Your username and password is the same as your Villanova email login/password.

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I am having problems logging into MyNova.

If you are having difficulty logging into your MyNova account, please contact Villanova's Help Desk at 610-519-7777.

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What financial aid forms am I missing?

To ensure that you are aware of the additional information that is being requested, the student should be monitoring their Applicant Status Page (prospective students) or their MyNova account (current students and students who were offered admission and who paid their deposit) as well as their Villanova e-mail on a regular basis.

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How do I see what forms are missing via MyNova?

Log into your MyNova web portal – search for Financial Aid – Click on Financial Aid Requirements – Select the correct aid year – Click submit.  You will see a tab marked ‘Unsatisfied Student Requirements.”  After your financial assistance counselor reviews your aid file, other requirements may be added to the list so continue to monitor your account.

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How do I update the Profile?  I don't have an IDOC login code.

The CSS Profile is required to be filed by posted deadlines every year by prospective freshmen and returning full-time undergraduate students.  (Link to Key Dates  https://www1.villanova.edu/villanova/enroll/finaid/calendar.html)

If you make an error on the Profile, you must print the summary pages, make corrections in the margin next to the error and submit the corrected copy to the Office of Financial Assistance by FAX or mail.

Shortly after the Profile is submitted, the student will receive confirmation from the College Board that it has been processed.  Included with the confirmation will be a unique code and instructions about how to upload the required forms to the College Board IDOC (the College Board secure document tracking site.)  The confirmation is sent to the student.  If you do not receive your unique code, then you must contact the College Board for assistance by calling 1-866-897-9881. 

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I uploaded a form to IDOC but my Applicant Status Page or MyNova account indicates that it's still needed.  Do you have it?

It may take 7-10 business days for a form to be uploaded to your Applicant Status Page or MyNova web portal.  If the form is from our financial aid website and you uploaded it to IDOC, it may be labeled as “Other.”  Forms like these will not be recognized by IDOC’s database.  You should submit all Villanova University specific forms directly to our office via mail or fax 610-519-7599.

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My document is marked "Incomplete" on IDOC, but I uploaded it there.  Did you receive it?

IDOC is a separate database used by our office to obtain documents securely.  If the item is marked as incomplete, this means that the document was received by IDOC but is not acceptable.  Documents that are for the wrong financial year, missing signatures, blurry, not completed fully, that have missing pages or pages are cut off will be marked as incomplete.  Review the items that were uploaded to check if they are legible and complete.  If not, upload them again.

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Is a tax return needed if the student did not file a tax return?

If the student did not file a Federal Income Tax Return, then the student must complete the Non-Tax Filer Form found on their IDOC Dashboard.

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Do I need to send you a spousal W-2 Form if the student is not married?

No, if the student is not married then there is no spousal W-2 Form.  However, the student’s W-2(s) Forms are required even if he/she did not file a Federal Income Tax Return. 

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I received my financial aid notification, but I don't know what any of it means.

There is a link in your financial aid notification to our Financial Assistance Booklet.  This booklet provides detailed explanations of each fund, financing options, costs, as well as how aid eligibility can be impacted in future years.

You may also find our current booklets on our website (on the right hand side of this page) as well as through the Important Forms webpage at https://www1.villanova.edu/villanova/enroll/finaid/forms.html.  Be sure to click on the Financing Options to obtain a full explanation of how you and your family can meet the remaining costs of your education not covered by your financial assistance.

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I received my financial aid notification, but no scholarships were listed?

Scholarships are awarded as part of the admissions process.  Each scholarship recipient will be notified directly by the selection committee if  

a scholarship has been offered.  If you have applied for need-based financial assistance and have been selected by the scholarship committee to receive a scholarship, it will be included in your financial aid notification. 

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Are the FAFSA/CSS Profile required for scholarship consideration?  I'm only interested in merit-based funds.

Scholarships at Villanova University typically are selected by committees. Although completing the financial aid process is not a requirement in order to be considered and offered a scholarship, students are encouraged to complete the financial aid application process in case they qualify for other financial assistance

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What are your deadlines?

Refer to the information on our website regarding Key Dates for when you should apply for financial assistance: https://www1.villanova.edu/villanova/enroll/finaid/calendar.html

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What do I do if I feel that I have a special circumstance or if my family is experiencing a reduction in income?

Villanova University provides special consideration for applicants whose families are experiencing a reduction in income.  Review the Request for Revision Form found on our website: https://www1.villanova.edu/villanova/enroll/finaid/forms.html.  If you complete and submit it to our office, be sure to include supporting documentation.  We will not consider your request if the form is incomplete or required documentation as mentioned on the form is missing

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How do I appeal for more financial aid?

The Office of Financial Assistance will attempt to meet as much of your need as possible using federal, state and institutional funding which can be awarded in the form of grants, loans and/or student employment.  Although we do not meet 100% of financial need, unique situations may require you to request a re-evaluation of the financial assistance offered.  Submit your request to our office via email with a complete explanation.  We are unable to match offers from other institutions.   

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When will I receive my Form 1098-T?

This is distributed by the Bursar’s Office.  You may contact them for more information at 610-519-4258 or bursar@villanova.edu.

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Can I email, mail, or upload to IDOC my proof of citizenship?

No, per federal guidelines students must present the original documentation of their proof of citizenship in person to the Office of Financial Assistance.  You may bring your proof of citizenship the next time you are on campus or during freshman orientation.  We will still be able to continue with the review of your aid application and provide a tentative financial aid notification.   

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What are Direct and Indirect Costs?

Direct Costs

What Villanova University bills directly to you for full-time enrollment for the academic year (Fall and Spring semesters).  For the complete list of direct costs (tuition, fees, room, and board) for the academic year, please visit the Bursar's Webpage.

Indirect Costs

These are the additional costs for the University does not bill you such as, books, supplies, personal transportation; however, they are included in the cost of attending Villanova in order calculate your aid eligibility.

Total Cost of Attendance = Direct + Indirect Costs.

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When can I expect to receive the tuition bill?

Student account billing is presented electronically.  The bill for the Fall semester usually is available through the Bursar's Office webpage before the 10th of July and is due around August 10. The bill for the Spring semester is available in mid-November and is due around December 10.  More information on billing and many other subjects may be found in the Parents' Handbook or on the Bursar's webpage.

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How do outside scholarships affect my financial aid?

At Villanova University, outside scholarships are considered a resource and must be included in the students' overall financial aid.  We will allow students to retain their outside aid IF financial need has not been met.  If a student's need is met, we will reduce the Federal Work Study, then reduce the Federal Direct Subsidized Loan.  However, once those options are exhausted, we are required to reduce Villanova Grant/Scholarship funds that have been awarded to the student.  If any changes are made to the student's awards, it will be reflected on their MyNova account as well as a revised award notification will be sent to the student.  For additional information, please view our Packaging Policies.

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What is Villanova's Cohort Default Rate?

Each year the U.S. Department of Education (Department) calculates an annual cohort default rate.  The latest rate released in September, 2108 is the  Fiscal Year (FY) 2015 national federal student loan cohort default rate (also referred to as the CDR).

The FY 2015 national cohort default rate is the percentage of a school's borrowers who entered repayment on Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan (Direct Loan) Program loans between Oct. 1, 2014 and Sept. 30, 2015, and subsequently defaulted prior to Sept. 30, 2017.

During the tracking period for the FY 2015 borrower cohort—from Oct. 1, 2014 to Sept. 30, 2017—more than 4.9 million borrowers entered repayment, and 531,653 of them, or 10.8 percent, defaulted on their loans. Those borrowers attended 6,155 postsecondary institutions across the nation.

Villanova University is proud to report that the FY 2015 rate is 1.7%.

Rate Trends

For public institutions, the FY 2015 rate, 10.3 percent, fell from 11.3 percent in FY 2014. Public institutions make up approximately 27 percent—or 1,660—of the total number of schools and represent approximately 53 percent of borrowers who entered repayment that year. The rate dropped among private schools from 7.4 percent in FY 2014 to 7.1 percent in FY 2015. Private schools comprise approximately 28 percent—or 1,726—of the total number of schools.

Among the 2,364 proprietary institutions in the borrower cohort, the default rate went from 15.5 percent for FY 2014 to 15.6 percent for FY 2015. Proprietary schools accounted for approximately 38 percent of the total number of schools. Additionally, 405 foreign schools saw their rate remain at 3.5 percent for FY 2014 and FY 2015. Foreign institutions make up nearly 7 percent of all postsecondary schools.

The Department's default management website provides information about the national student loan default rate, as well as rates by individual schools, states, types of postsecondary institutions, and other details.  

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Will I receive the same financial aid for all four years?

Your Financial Aid Award usually remains consistent over the four years of your education, assuming your financial situation remains consistent. However, Financial Aid is re-evaluated every year. Financial Need is calculated by both Federal Methodology (FAFSA), CSS Profile and Institutional Methodology (Villanova University). Federal Methodology, determined by the calculation of the information submitted on the FAFSA application is used when awarding Federal Pell, Federal Supplemental Education Grant (FSEOG), Direct Loans, and Federal Perkins/Nursing Loans. Institutional Methodology is used when awarding the need-based Villanova Grant. Institutional Methodology, is a separate calculation based on household size, number of household members enrolled full-time in an undergraduate program, taxable and untaxable income, home and business/farm value, is used when awarding need-based Villanova grant funds.  Please view our Packaging Policies to understand how need-based aid is determined and what elements can affect institutional grant eligibility.  Please Note: how aid eligibility can be affected in future years can also be found in the Financial Aid Award Booklet.

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On MyNova I see that my cost of attendance allows for charges for room and board but I am living off campus?

The cost of attendance (the budget) is the figure that is reported to the Federal Government to reflect allowable indirect as well as direct billable costs to attend Villanova University.  Check your billing screen on MyNova to determine your direct billable costs for which you are responsible to pay. The cost of attendance is the maximum amount that students/families can borrow, minus any financial aid that the student is awarded.

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How does living off campus affect my financial aid award?

Because most Villanova students are not guaranteed housing in their fourth year, the Office of Financial Assistance will review, process, and disburse your aid as an on-campus student, you will see that your total cost of attendance will still include a meal and housing allowance. The only difference is that when living off-campus (not residing at your parents' home), you are paying rent to a landlord. In this case, students often receive a refund from our Bursar’s office. This refund can be used for rent and meals (room and board).

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How does studying abroad affect my financial aid?

Students who study abroad are charged Villanova University’s tuition rate which allows financial assistance to be used for the Fall Semester, Spring Semester, or a combination of the Fall & Spring Semesters.  Other program costs (e.g. room, board, transportation in a foreign country, airfare, visas, etc.) are recalculated according to the individual study abroad program to determine your cost of attendance.  This recalculation of program costs can possibly result in a reduction of financial aid or an increase in loan eligibility.

After reviewing your financial aid file for any changes to your financial aid eligibility, grants and federal funds will be credited to your account as if you had stayed at Villanova.  In addition, Villanova University academic scholarships are applicable for study abroad semesters. 

Please Note:  If you are a recipient of Tuition Remission, Tuition Exchange, or an Augustinian Relative Remission Grant, the value of these remissions do NOT apply for any study abroad programs.  In these cases, the student will be charged the tuition of the sending school and not that of Villanova University, as well as a processing fee charged by our Bursar’s Office.  

We strongly encourage students to visit the Office of Financial Assistance to discuss funding before making a final decision on a study abroad program.  

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How will my financial aid be affected if I withdraw?

Federal aid is reviewed under a federal process called “Return of Title IV Funds." The premise is that even though aid is packaged before the beginning of the semester, the aid is actually earned through being enrolled.  The percentage of the semester that a student remains enrolled correlates to the percentage of federal aid “earned” as of that point.  Please view our Return of Title IV Policy for additional information.

For example, a student withdrawing at the 20% point in the semester has only earned 20% of the federal aid awarded, thus is at risk of having 80% of the federal aid returned.  This may, in some cases, result in a fairly large balance, as tuition is adjusted according to a different schedule.  See the Bursar’s Office website for more information about tuition adjustments for withdrawal.

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What happens to my financial aid if I become a Residential Assistant (RA)?

Because Residential Assistants receive a stipend for their room and board, we need to include assistance received as an RA in the overall financial aid package. This could mean that some changes are made to the student’s financial aid. Students are encouraged to meet with a Financial Assistance Counselor before making their final decision regarding the acceptance of an RA position.

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Will dropping to a part-time student affect my financial aid?

Yes, it will affect your financial aid. If you begin a semester full-time and then drop to half-time, aid will need to be adjusted and some sources may be reduced or canceled entirely.  In general, we only offer Federal Pell grant (to those who are eligible), Direct Loans, and Alternative (Private Bank) Educational Loans to our part-time students. Villanova Grant assistance is not offered to students enrolled on a part-time basis; however, Villanova Grant consideration may be given to students who were enrolled as a full-time undergraduate student, but are now last-semester seniors enrolled in at least nine credits.  Students are encouraged to meet with a Financial Aid Counselor before making a final decision to go to a part-time status.

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What if I need to speak to a financial assistance counselor?

Usually, your questions can be answered by any one of our student services representatives. However, if there are special circumstances that you would like to discuss with an administrator, you may ask for an appointment by calling our office at 610.519.4010 and speaking with one of our representatives.

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How does the Office of Financial Assistance send communications to the students?

Prospective Freshmen are notified by access to their Applicant Status Page account and via an official award letter from our office prior to the start of classes.  Once classes begin, all communications regarding the financial aid award is made via email and MyNova. Upperclassmen receive emails to their Villanova email account informing them to check MyNova for their financial award. Overall, students are expected to consistently review MyNova or their Villanova email accounts for any updates pertaining to financial assistance. 

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When will I receive my refund check if my account states that I have a credit balance?

A refund will be automatically processed if Federal Funds for the semester exceed the semester charges.  Refund checks are mailed to the student’s permanent address unless a direct deposit account has been created.  Students can create a direct deposit account by accessing the Bursar Dashboard, under the Sign-up for Direct Deposit of Refunds Tab in their MyNova account.   

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Where can I get information on the Yellow Ribbon Program at VU?

Information regarding the Yellow Ribbon Program can be found by visiting the Registrar's Webpage.

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Will my financial aid cover my summer courses?

Financial aid is not applicable to the summer term with the exception of the Federal Pell Grant. However, parents can apply for the Direct PLUS loan to cover the summer educational expenses and/or students can apply for an educational alternative loan for this time period. BSN Express students and graduate students are also an exception, and Direct Loans can be certified for the summer term.

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I have been accepted into the 5-year BS/MS Program. How will my financial aid be affected?

Need-based financial aid is awarded for eight semesters as a full-time, day undergraduate student.  In your last year, you will be considered to be a graduate student and would only be eligible for the Federal Direct Unsubsidized Loans of $20,500 per academic year, unless you are provided a graduate assistantship.

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Are adult or part-time students eligible for financial aid?

As a part-time matriculated student, you would be eligible for certain forms of aid if you registered for at least six credits per semester.  This would include Federal Pell Grant, PA State Grant (for Pennsylvania residents) and Direct Loans.  In addition, all part-time students have the option of utilizing our alternative tuition payment plan and/or other alternative loans.  Financial aid forms and information on federal or state grants, loans, and scholarships are available through the Office of Financial Assistance 610-519-4010.  Although students enrolled on a part-time basis are not eligible for Villanova University Grant, there are a limited number of scholarships available to part-time students.  Please access the College Of Professional Studies webpage for the latest information.

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Is any part of my scholarship required to be reported on a Federal Income Tax Return?

According to federal tax law: "Scholarship amounts that exceed the cost of tuition, fees, books, supplies, and equipment required for attendance and coursework are considered taxable income to the recipient.  Amounts which would be considered taxable include scholarship funds which cover costs of room and board, travel, and optional equipment. " 

Please consult your tax advisor for information regarding filing a tax return and reporting these amounts.

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2019-2020 Financial Aid Booklet for Incoming Freshmen and Transfer Students

Click the link above to view the 2019-2020 Villanova University Financial Aid Booklet for Entering Freshmen and Transfer Students

 

2019-2020 Financial Aid Booklet for Returning Undergraduate Students

Click the link above to view the 2019-2020 Villanova University Financial Aid Booklet for Returning Undergraduate Students

 

2019-2020 International Student Financial Aid Information Sheet

Click the link above to view the 2019-2020 Villanova University International Student Financial Aid Information Sheet

 

2019-2020 Financial Aid Booklet for BSN Express Students

Click the link above to view the 2019-2020 Villanova University Financial Aid Booklet for BSN Express Students

 

2019-2020 Financial Aid Booklet for Graduate Students

Click the link above to view the 2019-2020 Villanova University Financial Aid Booklet for Graduate Students