Financial Aid FAQ

Besides the FAFSA, will I have to submit any other documentation?

Maybe. Once we receive your FAFSA application, we will notify you of any additional documentation needed to review your financial aid eligibility. We will post a checklist of your requested documentation online. Applicants can review their checklist through their application portal and returning students can view their checklist on ScotWeb.

How do I submit any additional documentation requests?

Submit forms to the Financial Aid Office by:

I’ve received my award letter, how can I learn more about each type of aid that was offered?

We have put together a Financial Aid Overview to help you learn more about each individual type of aid.

View and download the Financial Aid Overview

Do I need to reapply for need-based financial aid each year?

Yes, you must file the FAFSA each year. You and your family can file the FAFSA for the upcoming academic year. This year’s FAFSA will be live on Jan. 1, 2024.

Is there a review process if my family had a change in income or other extenuating circumstances that could not be included on the FAFSA?

Yes, if your family has experienced an unforeseen or significant change in financial status since the income reported on the FAFSA or you think you have special circumstances that should be considered, you may request a review of your financial aid eligibility. Contact our office for additional information about what documentation we need to review your request. Requests are handled on a case-by-case basis and may or may not result in additional aid.

How should I anticipate the cost of tuition changing each year?

The Comprehensive Fee structure includes tuition, fees, room and meals (often referred to as “board”).  Wooster’s Board of Trustees determines the comprehensive fee annually, taking into account a variety of factors including increased costs, inflation, competitive wages, new programs and support services, and more.  In recent years, the comprehensive fee has increased between 3-4%; we recommend your family anticipate this annual increase as you develop your financial plan for four years at Wooster.  Keep in mind that merit-based scholarship amounts are guaranteed as long as students maintain good academic standing (2.0 GPA or above); need-based financial assistance is reassessed annually by completing the FAFSA and any other requested documentation.  Current academic year pricing and billing information can be found here.

Will my financial aid change after the first year?
  • Academic Merit Scholarship: The merit scholarship you received upon admission is renewed for eight semesters, as long as you maintain good academic progress
  • Performance Scholarships: The performance scholarship you were awarded is renewed, as long as you continue to participate and meet the requirements of the scholarship.
  • Need-Based Aid: Need-Based aid is reviewed annually when you complete your FAFSA. If your circumstances remain the same from year to year, you can anticipate your aid remaining similar. However, fluctuations of your Expected Family Contribution, as calculated by the FAFSA, can cause your aid to be adjusted as well.
  • Your merit scholarships will renew annually for eight semesters, as long as you maintain academic progress. Need-based aid is reviewed annually. If your financial situation remains consistent, you can expect your financial aid to remain consistent as well. Some changes that can affect aid eligibility are major income changes or having a change to the number of siblings in your family enrolled as an undergraduate student.
How many semesters can I receive Wooster scholarship and grant aid?

You are eligible to receive eight semesters of Wooster financial aid funds.

Is there a cap to the amount of merit aid I can receive?

The maximum annual amount of Wooster merit scholarship is $43,000 annually and can be applied only to tuition charges. Prospective students may apply for more than one competition based scholarship but will only be awarded one. Competition based scholarships replace the Dean’s Scholarship amount, except for the Covenant and performing arts scholarships.

What if I have a benefit that covers tuition? Does that change my aid eligibility?

Yes. Wooster merit scholarships become honorary if students are awarded a tuition benefit such as the Tuition Exchange Program, the Great Lakes College Association (GLCA) program, Wooster’s employee tuition remission, or Veteran’s Education Benefits. Any need-based aid awarded prior to notice of the tuition benefit will be re-evaluated.

How do outside scholarships impact my need-based aid award from Wooster?

All outside scholarships or other resources need to be reported to the Financial Aid Office. Our goal is to apply your outside scholarship as favorably for you as possible. If your financial need has been met, your work study or Federal Direct Loan may be adjusted first. There are situations where it may be necessary to reduce Wooster aid based on the other aid you have already received, per federal regulations. You will be notified of any changes to your awards.

Where can I find information about additional scholarships?

There are several scholarship search websites that are helpful to students. Cappex, College Board, and Fastweb are good starting points. You can also talk with your High School Guidance Counselor for information about scholarships for your school and community.

I have Federal Work Study in my financial aid package. What does this mean?

You are eligible to apply to work on campus and earn funds through the Federal Work Study program. Being eligible does not guarantee a job on campus, but FWS students are granted a priority period to apply for jobs. When you begin working, you will be paid for hours worked, so actual earnings may be more or less than the amount listed on the award letter. Your earnings are not applied to your student account.

What if I don’t have Federal Work Study listed on my award letter?

All students are eligible to apply for the many jobs on campus. There are some positions on campus that are limited to Federal Work Study eligible students.

What Federal student loan programs are available?

All students that have submitted a valid FAFSA are eligible for a Direct Student Loan. Subsidized and Unsubsidized eligibility will be determined by the Financial Aid office and will be listed on your award letter.

What Federal loans are available to parents?

The Federal Direct Parent PLUS Loan is available to a credit-worthy parent (or step-parent) who is a U.S. citizen or eligible non-citizen, whose student has submitted a valid FAFSA. More information and the application can be found at studentaid.gov.

What are my options to cover the remaining balance after all financial aid has been applied?

Wooster offers payment plan options through Nelnet, allowing families to break down the academic year’s costs into affordable monthly payments, interest free, for a period of up to twelve months. To find more information and to apply for the payment plan, families can visit this Website.

When do I have to have the academic year’s cost paid?
  • Fall Semester – The Business Office will mail home the fall semester invoice in mid-July and the fall payment is due by August 10th.
  • Spring Semester – The Business Office will mail home the spring semester invoice in mid-December and the spring payment is due by January 10th.
I’ve read about large loan debt incurred while pursuing a college degree. What is the average loan debt for Wooster graduates?

Wooster students graduate with less student debt than the national average. For students graduating in 2021, the average federal loan debt was $23,968.

Can I use my financial aid to study abroad?

Yes, all financial aid is eligible to be applied to full semester study abroad programs approved by the Global Engagement Office.

Will my aid change if awarded an endowed scholarship?

In some cases, the College will identify eligibility and award Wooster endowed scholarships after your initial aid offer has been determined. While this will affect the current breakdown of your financial aid award, it does not increase or decrease the total amount of your financial aid.  Endowed scholarships fund an equal amount of existing Wooster Grant funding, which may possibly include merit scholarships. Donors have established these scholarships in order to support the financial aid students are awarded to pursue their Wooster education.

Am I eligible for tax benefits due to paying for College? How can I get a copy of my students 1098-T?
  • Many families are eligible for considerable tax benefits for out of pocket college expenses. Please discuss with your accountant or visit the IRS website for additional information.
  • Student can print a copy of their 1098-T from ScotWeb or contact the Business Office for a copy.
How will I receive information from the Financial Aid Office?
  • Most of our communications will come to you via email. Please be sure to check your personal email listed on the FAFSA and Wooster email (once this is available) often.
  • Financial Aid award letters will be mailed home and an electronic copy will be available on your application portal.
What if my question is not listed?

Contact the Financial Aid Office with any questions you may have. We also invite students and families to visit us on campus on the first floor of Galpin Hall.