For important information on avoiding financial aid scams, please review Student Aid on the Web.
Verification
The College of Wooster is required by federal regulations to validate the accuracy of the financial information of students identified by the U.S. Department of Education for verification. Wooster may also select students for verification. The Department of Education requires all student FAFSA filers and contributors to the FAFSA form to provide consent and approval to the access, disclosure, and use of federal tax information (FTI) through the Direct Data Exchange (DDX) process. Additional documentation may be requested by the Financial Aid Office, even if FTI is transmitted successfully by the DDX process, for any student selected for verification by the U.S. Department of Education or The College of Wooster.
Financial aid eligibility will not be finalized until all requested verification documentation is received. Financial aid awards are subject to change based on the accuracy of information submitted on the FAFSA.
Financial Aid Disbursements
One half of the annual comprehensive fee will be billed prior to the start of each semester and one half of the student’s annual financial aid (except work study) will reduce the charge. Federal aid remains pending until 10 days before the first day of class each semester.
Definition of an Academic Year at Wooster
An academic year is defined by fall and spring terms and 30 weeks of instruction.
Code of Conduct
In an effort to avoid any conflict of interest between The College of Wooster and educational lending institutions, Financial Aid employees and all other employees involved in the loan process will abide by the following policies:
- No employee will participate in revenue-sharing arrangements with any lender
- No employee will accept gifts, other than those of nominal value, from a lender, guarantor, or a loan servicer
- No employee will participate in any contracting arrangement providing financial benefit or affiliate of a lender
- No employee will direct borrowers to particular lenders, or refuse or delay loan certification
- No employee will accept offers of funds for private loans
- The Financial Aid Office staff will not accept call center or office staffing assistance from any lender
- No employee will accept compensation for serving on an advisory board