FAQs
What are the school codes for Wells College?
Federal FAFSA Code: #002901
New York State TAP Code: #1050
How do I apply for financial aid?
You can apply for financial aid by completing the FAFSA after January 1st with the
Federal Processing Center at www.fafsa.gov. We strongly recommend that new students complete the FAFSA by February 15th and
returning students complete by May 1st.
We won’t have our taxes done until April, so I can’t complete the FAFSA. What do I
do?
Many families do not have their federal and state income taxes completed until April;
however, this should not prevent you from applying for aid on time. The FAFSA allows
you to use estimated income figures on its form. You can always update your application
at a later time and the financial aid office will adjust your aid eligibility, if
necessary.
How much can I earn before I disqualify for financial aid?
There are no income cutoffs when determining a student's financial aid eligibility.
Many factors are taken into consideration when determining a family's ability to pay
beyond parental income such as household size, number of dependent children in college,
family assets, and cost of the institution; so it is impossible to determine your
eligibility based strictly on income. To know if you will qualify for financial aid you must apply.
When can I expect to hear about my financial aid package?
For new applicants to Wells College, you must be accepted for admission before an
aid award letter will be sent to you. All students must have a processed FAFSA on
file in order to receive an aid award letter. Accepted early decision applicants who
apply for aid using the Wells College Financial Aid Estimator Form will be notified
by December 30th. All other accepted new students will be notified beginning March
1st and returning students will be notified by mid-June.
How will my financial aid be disbursed to me?
All financial aid, with the exception of work study funds, will be credited to your
billing account in two equal disbursements: fall and spring. Once your charges have
been paid (tuition, fees, room and board), any additional funds on your account will
be refunded to you by the Business Office to help you pay for off-campus living costs,
books, or personal expenses. Students awarded campus employment will receive a paycheck
for the number of hours worked in a specific pay period. Students in general are paid
every two weeks. Since students have not received any work study earnings at the beginning
of the semester, we encourage students to have book money upon their arrival to campus.
Will outside scholarships affect my financial aid package?
Outside scholarships must be included in your financial aid package as a resource
to help pay for your educational costs. However, it is the policy of Wells College
to make sure that students are awarded for achievements and efforts by first applying
these funds to any unmet need the student may have incurred. If need has been met
100%, we will lower the student's recommended loan amount. It is the responsibility
of the student to notify the financial aid office of all outside scholarship awards.
How do I find a job on campus?
The Office of Career Services and Experiential Learning manages the student employment
program. All students will have the opportunity to apply for jobs on-campus and off-campus.
Due to the limited number of positions available, students are not guaranteed student
employment. Returning students will have an opportunity to apply for a campus job
during the spring semester and new students will receive a job application by June
1st and have the ability to interview for openings during the College's summer Wells
Warm-Up orientation programs. Students who do not participate in these programs can
apply any time upon their arrival to campus.
What if my family’s financial circumstances change drastically during the year? What
can be done?
There are circumstances that will enable the Wells College financial aid office to
adjust a student's aid eligibility. These circumstances could include: job loss due
to unemployment or illness, a one-time benefit that affected your federal adjusted
gross income, separation or divorce, or unusual medical/dental expenses, elementary/secondary
dependent tuition costs, nursing home costs not covered by insurance, and unusual
high childcare costs. If conditions such as these occur during any of your four years
at Wells, please contact the financial aid office. Do not send any letters to the
federal aid processing center. They are not able to adjust your aid eligibility.
Can I expect to receive the same financial aid package throughout my undergraduate
years?
You are required to apply for financial aid each year. Sometimes family situation
changes: another child attends college, a parent returns to the workforce, or a parent
dies. For the most part if your family situation does not change from year to year,
your Wells grant will remain unchanged.
Will I have to borrow to attend Wells College?
Whether a student attends a state university or private college, student loans are
a component of the aid package and help families meet their educational costs. Depending
on your family's ability to pay, you may be packaged with a student loan.