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Financial Planning

Wade College is committed to assisting every student plan for his or her entire educational program.  The Office of the Director of Financial Services meets one-on-one with each student to walk him or her step-by-step through the financial planning process.  Since the college offers an all-inclusive tuition rate, which includes all necessary books and supplies, and is guaranteed not to change during the student’s normal time for degree completion (see Guaranteed Tuition Rate), most uncertainties regarding educational costs are eliminated. 

Upon completion and receipt of the student’s ISIR and other required forms, the Office of the Director of Financial Services will review and determine his or her financial aid eligibility based on federally-required calculations. After grant and scholarship eligibility is determined, student and/or parent loans may be applied for through the Federal Direct Loan program. If a student and/or parent borrow education loans from the federal government, the direct loan servicing center becomes their single source for managing the repayment of their loans. For general information, a student and/or parent should visit https://studentaid.ed.gov/sa/. This site will provide information about loan limits, regardless of whether a dependent student applying for a loan with his or her parents or an independent student applying for a loan without his or her parents.

The William D. Ford Direct Loan program offers the following types of loans: subsidized; unsubsidized; and PLUS. There are separate applications for each. Student borrowers will be required to sign a Federal Direct Loan Master Promissory Note (MPN); parent borrowers must sign a Federal Direct PLUS Loan Master Promissory Note (MPN). These are multiyear promissory notes that allow the student and/or parent to receive multiple loans without having to complete additional promissory notes each year.  The student and parent, if applicable, should contact the Office of the Director of Financial Services to learn more about these loans and for help in applying for federal loans, or visit https://studentaid.ed.gov/sa/.

To apply for a Direct Subsidized and/or Unsubsidized Loan, a student must complete the Federal Direct Loan Master Promissory Note (MPN) online via the U.S. Department of Education's Direct Loan website at www.studentloans.gov.

To apply for a Federal Direct PLUS Loan, the student’s parent (only one parent need apply) must complete the Federal Direct PLUS Loan Master Promissory Note (MPN) at www.studentloans.gov. Eligible parents who qualify may apply for Federal Direct PLUS Loans to help a dependent child attend school. Since Federal Direct PLUS Loans require a credit check, the Office of the Director of Financial Services assists the student and parent with that process. Based on eligibility and the amount needed to pay for school, the Office of the Director of Financial Services will recommend an appropriate loan amount.

Before a student applies for a direct education loan, the student should schedule a meeting with the Office of the Director of Financial Services who can develop a student financial aid plan based on the student’s specific set of circumstances.

Wade College Student Financial Plan
The Wade College Student Financial Plan is prepared after loan approvals and required credit determinations are obtained. The Wade College Student Financial Plan is a direct result of a lengthy process that considers the relevant information a student provides on his or her financial assistance applications and forms and reflects the approximate amounts and dates of all estimated financial assistance awards and institutional charges for the student’s educational program. An individual Wade College Student Financial Plan is prepared for each registered student prior to the start of classes.

  • The student's educational expenses will consist of direct and indirect costs. Direct costs may include tuition and fees.  The indirect costs include food, transportation, personal expenses, and room and board (the Wade College Student Financial Plan does not outline indirect costs).
  • The student's total financial resources available, which may include federal and state assistance, grants, loans, veteran benefits, and scholarships, will be added together.
  • The student's total financial resources are then subtracted from his or her total estimated direct costs of the educational program.
  • This information will be included in the student's Wade College Student Financial Plan and covered with the student by the Office of the Director of Financial Services.
  • All four pages of this document constitutes the entire Wade College Student Financial Plan.  Future revisions/updates to the first page of a student’s Wade College Student Financial Plan will be sent to the student electronically via email and a copy placed in the student’s financial folder found on the secure college network.

The federal student financial aid payments shown on the Wade College Student Financial Plan are usually made in equal installments for each term in each academic year.  Once all the required paperwork is accurately completed, submitted, and the student begins classes, the student’s federal financial aid is automatically credited to his or her account each term.  Federal student financial aid is sent to the college electronically.

Federal Publication
The College Preparation Checklist (found at www.studentaid.ed.gov/collprep) explains how students, and their parents, can prepare academically and financially for college through "to do" lists. Information about federal student financial aid, what to do at FAFSA filing time, and looking for scholarships is included. Readers are directed to publications and websites for more detailed discussions of the topics in the checklist. 
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