FINANCIAL AID

John Wesley University has one of the lowest, private, Christian-college tuition requirements in the country. We value our responsibility to make our tuition affordable and cost-effective. 98% of John Wesley students are on some form of aid and over 60% are on some form of Federal aid. It is most advantageous to think of funding your education as a partnership among:

  • You (the student and family),
  • The Government (federal and state) – John Wesley University’s Code number for FAFSA is 013819.
  • The Institution (John Wesley University), and
  • Outside Sources (organizations, businesses).most affordable
Financial Aid for Current Students

60 Percent Dates (Return of Financial Aid Funds)

If you’re receiving financial aid grants or loans, you must attend your classes. Don’t drop or stop attending any class without consulting the Financial Aid Office. Changes in your enrollment level and failing grades may require you to repay federal financial aid funds.

Federal regulations require you to repay a portion of financial aid funds if you withdraw from all classes before satisfying the 60 percent rule for the enrollment term.

You also may be required to repay financial aid funds if you receive failing grades in all of your classes, unless an instructor can document that you attended class for at least 60 percent of the enrollment period.

FEDERAL FINANCIAL AID is available to eligible students who are pursuing a degree on a full-time basis (12 or more credits per semester). Part-time federal aid may be available to eligible students taking between one and eleven hours each semester. To receive need-based aid students must complete the FAFSA (Free Application for Federal Student Aid) each academic year.

Students applying for the 2017-2018 Academic Year

Please Note: The 2017-2018 FAFSA is available starting October 1, 2016.

You will need to create a FSA Username and Password to complete the FAFSA.  Here are step by step instructions on how to create a FSA ID Username and Password.

FAFSA Guide
Financial aid begins with the FAFSA, yet in 2013 an estimated 47% of high school graduates neglected to submit theirs, resulting in 2.9 billion dollars in Pell Grants going unclaimed. No student can afford to miss out on financial aid opportunities.

John Wesley University’s Code number for FAFSA is 013819.

  • The  priority deadline to submit the FAFSA is June 30 2017 for Prospective Freshmen and returning students; November 1st 2017 for Spring Transfers.
  • Please note that this is a free application, no payment is required to complete this form.
  • To complete the FAFSA on-line or for practice worksheets, go to www.fafsa.gov.
  • Make sure when completing the FAFSA to import all financial demographics using the IRS Data Retrieval Tool. If you need further assistance contact the financial aid office at 336.821.2476 or mkennon@johnwesley.edu.

Starting with the 2017­–18 application cycle, the following changes will be put in place:

  • Students will be able to submit a FAFSA® earlier.  Students will be able to file a 2017–18 FAFSA as early as Oct. 1, 2016, rather than beginning on Jan. 1, 2017. The earlier submission date will be a permanent change, enabling students to complete and submit a FAFSA as early as October 1 every year.
  • Students will use earlier income information. Beginning with the 2017–18 FAFSA, students will be required to report income information from an earlier tax year. For example, on the 2017–18 FAFSA, students (and parents, as appropriate) will report their 2015 income information, rather than their 2016 income information.

FAQ: Click on any question below.

Will deadlines be earlier?Do I have to apply for admission to a school before I list it on my FAFSA?Will 2016-17 FAFSA information be carried over onto the 2017-18 FAFSA?Can I choose to report 2016 information if my family's income has dropped significantly since we filed 2015 taxes?Do I report my 2015 tax and income information on the 2017-18 FAFSA now, and then update it once I've filed my 2016 taxes?What if my parents' (or my) marital status has changed since we filed 2015 taxes? How do we supply tax and income information on the FAFSA?Will I receive offers from schools earlier if I apply earlier?
The federal deadline won’t be earlier, but some state and school deadlines will. Most state and school deadlines haven’t changed, but be aware of this: Several states’ deadlines have changed from “as soon as possible after Jan. 1” to “as soon as possible after Oct. 1.” Find state deadlines on the FAFSA and school deadlines on schools’ websites.
No. On your FAFSA, list all the schools to which you have applied or might apply.
If you choose the Renewal FAFSA option when you start your application at fafsa.gov, some basic information from your 2016–17 FAFSA will be prepopulated in your 2017–18 FAFSA. However, your tax and income information will not. (Too much could have changed in your life since you filled out the 2016–17 FAFSA.)
No. You must report 2015 tax and income information, as the FAFSA requires. If your family’s financial situation has changed dramatically since then, you should complete the FAFSA questions as required, submit the FAFSA, then contact the school you plan to attend and discuss your situation with the financial aid office.
No. Do not update after filing your taxes. The 2017–18 FAFSA asks for 2015 tax information.

Here are some tips for this type of situation:

  • The FAFSA asks for marital status “as of today” (the day it’s filled out). So if the student or parent is married now but wasn’t in 2015 (and therefore didn’t file taxes as married), the spouse’s income will need to be added to the FAFSA.
  • Similarly, if the student or parent filed 2015 taxes as married but is no longer married when filling out the FAFSA, the spouse’s income will need to be subtracted.
  • And if the student or parent was married when filing 2015 taxes, then got divorced and is now married to someone else, there’s a bit more math to do: Subtract the ex’s income, then add the new spouse’s income.
  • The help text in fafsa.gov will discuss all these situations.
Not necessarily; some schools will make offers earlier, and others won’t. And keep in mind that an early offer might be an estimated offer, so read communications from schools carefully.

Providing Financial Information

The FAFSA asks for financial information, including balances of savings and checking accounts and information from tax forms.

  • If you are filling out the 2017–18 FAFSA, you will also need 2015 tax information. (Starting with the 2017–18 FAFSA, you’ll need to report income information from the tax year two years prior to the academic year. Learn more about the 2017–18 FAFSA.)

 Automatically Filling in Your Tax Information Using the IRS Data Retrieval Tool 

Be sure to consider the option the FAFSA offers you to use the IRS Data Retrieval Tool (IRS DRT). (If you got an extension on filing your taxes and didn’t file until September or October, find out when your tax return information will likely be available using the IRS DRT.) Here’s how the IRS DRT process works:

  1. The IRS DRT takes you to the IRS website, where you’ll need to log in by providing your name and other information exactly as you provided it on your tax return.
  2. At the IRS site, you can preview your information before agreeing to have it transferred to your FAFSA.
  3. When you return to the FAFSA, you’ll see that questions that are populated with tax information will be marked with “Transferred from the IRS.” Don’t make any changes to those answers (except where Individual Retirement Account or pension rollovers are involved), or you’ll invalidate the information you retrieved.
  4. If you or your parents are married and you’ve used the IRS DRT to transfer information into your FAFSA, you’ll see that a value for Income Earned from Work is transferred. Refer to the guidance about Income Earned from Work for student and spouse and guidance about Income Earned from Work for parents in the help topics on the FAFSA site to correctly document this value.

Using the IRS DRT saves you time and effort:

  • You don’t have to find your tax records.
  • You don’t have to worry about making mistakes entering your tax information on your FAFSA®.
  • If you use the IRS DRT and don’t change any of the retrieved information in your FAFSA (other than that listed in step 3 above), you may not need to provide tax transcripts if you’re selected for verification.

For Further help please contact the Financial Aid office or go to this website https://studentaid.ed.gov/sa/fafsa/filling-out.

For further FAFSA information, contact:

Mary Emily Kennon, Assistant Director of Business Affairs

336.821.2476

mkennon@johnwesley.edu

OR
Federal Student Aid Information Center
P.O. Box 84
Washington, DC 20044-0084
1-800-433-3243

FAFSA Video Instructions