GREETINGS...From the Wartburg College Financial Aid Office!The information available here will assist you in understanding your financial aid opportunities at Wartburg College.

Whether you are a new student or a current student, you will receive an email notification when your 2020-21 Financial Aid Award at Wartburg is ready. The notification will instruct you how to access and utilize Net Partner, our online financial aid system. On Net Partner you can:

• Accept or decline work opportunities. • Accept, reduce, or decline your loans. • Ensure that all loan applications or supplemental financial aid materials are completed. • Access your financial aid information 24 hours a day, seven days a week to keep informed.

Please notify the Financial Aid Office of any private scholarships and/or changes in your enrollment assumptions.

A Wartburg education is a significant and great investment in yourself. We look forward to your enrollment as a Knight!

WARTBURG’S COMMITMENTWartburg is committed to you now and will continue this commitment throughout your four-year academic career. The longevity of institutional funding for transfer students will be prorated based on their class status upon enrollment at Wartburg. We will not reduce the total institutional funds to a student in subsequent years, providing the family’s situation remains the same. The institutional grants and/or scholarships in your aid package are, in part, made possible by our generous donors. You will be notified in the fall of any particular donor scholarship(s) that support the institutional funds you have been awarded.

If the amount of federal, state, or outside assistance you receive increases, an adjustment in your award package may be necessary to comply with federal regulations. In rare cases, this might include an adjustment to your Regents or Presidential Scholarship.

Please call the Financial Aid Office at 800-772-2085, ext. 8262. Our staff is available to assist you.

Your Wartburg education will provide great value.

• You will benefit from small classes with highly qualified professors who take a personal interest in you.

• You can finish in four years, instead of the five or six years it may take at a larger institution, saving on tuition costs and getting an earlier start on a career or postgraduate education.

• You will join a strong network of Wartburg alumni who offer valuable connections to internships and employment.

FINANCIAL AID —— A WA R D G U I D E ——

ELIGIBILITY CRITERIAMost financial aid funds come from the federal government, the state of Iowa, Wartburg College, and private donors. Each aid program has specific eligibility requirements. In general, all students must meet the following requirements to receive financial assistance through Wartburg:

Enrolled on a full-time basis—a minimum of three course credits for institutional funds and three and one half course credits for full consideration of federal grants.

A U.S. citizen, or noncitizen eligible for federal assistance.

Admitted to Wartburg as a degree-seeking student.

Maintain satisfactory academic progress.

Meet eligibility requirements for each of the aid programs accepted.

Not in default on any educational loan or owe a refund for a grant.

Demonstrate financial need or meet special scholarship requirements.

The financial aid award is subject to the availability of expected federal and state funds. Institutional grants and scholarships require full-time enrollment and must be applied toward tuition. The combination of institutional and state funds, including the Iowa Tuition Grant, cannot exceed tuition. Please note that Wartburg institutional funding is available for eight terms. The longevity of Wartburg institutional funding for transfer students will be prorated based on their class status upon enrollment.

TYPES OF AWARDS

Scholarships and GrantsThis type of “gift” assistance does not have to be repaid. Federal, state, and institutional eligibility is automatically checked using the results of the Free Application for Federal Student Aid (FAFSA). Students are strongly encouraged to seek assistance from outside organizations. Find links to free scholarship searches at www.wartburg.edu/scholarships.

Self-Help AidStudent Loans The Federal Direct Student Loan Program is part of the William

D. Ford Federal Direct Loan Program. The current interest rate for subsidized and unsubsidized Federal Direct Loans can be found at https://studentaid.ed.gov/understand-aid/types/loans/interest-rates. The federal government pays interest on the Federal Direct Subsidized Loan during the in-school period, whereas the student is responsible for the interest on the Federal Direct Unsubsidized Loan. Repayment begins six months after graduation or after the student is no longer enrolled at least half-time. Please refer to the back cover for the Federal Direct Loan application process.

Student EmploymentReceipt of Federal Work Study (FWS) is based on need. Please note: Students are responsible for securing their own on-campus position with the assistance of the Student Employment Office (SEO). It is your responsibility to work approximately 10-12 hours per week to earn your full award.

During the last week of June, you will receive an email from the SEO with instructions for accessing Handshake, Wartburg’s online job board. Position openings will be posted on Handshake in mid-July, at which time you may begin applying for employment.

Before beginning employment, a student must complete an Employment Eligibility Verification form (I-9) and Federal and State Withholding forms (W-4). These forms can be downloaded from the SEO website at www.wartburg.edu/jobs. The I-9 form is NOT complete until a student presents appropriate proof of identity and citizenship as explained in the instructions of the I-9. Photocopies of these documents are NOT acceptable; please bring the original documents with you to campus.

Student will have their wages earned direct deposited into their bank accounts. Students may elect to have all or a percentage of their wages applied toward their tuition bill by filling out the Student Payroll Deduction Agreement. Contact the SEO at 319-352-8350 for more information.

Students who are awarded an EPIC grant have indicated they attend an ELCA church. They could be eligible for a matching grant from Wartburg College, up to $750, if their church chooses to participate in the Educational Partners in Covenant (EPIC) program. Go to www.wartburg.edu/church-relations for more information, and contact your church to find out its application requirements.

TUITION PAYMENT

Remaining Balance Payment Options The Monthly Tuition Payment Plan allows you to meet all

or part of Wartburg’s academic year expenses in 12 or fewer interest-free, equal monthly payments, beginning June 1, final payment May 1. Information and an application are available at www.wartburg.edu/crunch-your-numbers. Contact the Business Office at 800-772-2085, ext. 8411, with questions.

Federal Direct Parent Loan for Undergraduate Students (PLUS) enables parents to borrow for dependents who are enrolled at least half-time. The parent borrower is responsible for the interest and principal repayment, which begins 60 days after the loan is fully disbursed. The current interest rate for PLUS loans can be found at https://studentaid.gov/understand-aid/types/loans/interest-rates. Credit checks are mandatory, and those with adverse credit histories will not be eligible. If interested, complete the steps for parents at www.wartburg.edu/loans as early as mid-April.

Student Alternative Loans—Several financial institutions provide low-interest loans for students who might need additional assistance. The various loans differ by interest rate, interest capitalization, guarantee fees, and co-signer options. A list of alternative private student loans that are not federally funded is available at www.wartburg.edu/loans. This list of loan products is not all-inclusive and does not imply endorsement by Wartburg. Wartburg will certify a loan from any lender you determine best meets your needs even if they are not on the list.

Payment in FullIf a balance remains after all financial assistance is considered, the balance for Fall Term is due on or before the first day of Fall Term classes to avoid finance charges. The balance for Winter Term is due on or before the first day of Winter Term classes to avoid finance charges. If you choose to pay the balance with a Remaining Balance Payment Option, arrangements need to be in place prior to the start of each term.

PERSONAL PAYMENT WORKSHEETInformation regarding your financial aid is found on Net Partner.

2020-2021 Direct CostsFull-time Tuition and Fees (Fall, Winter, May) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$45,680

Estimated Room (double) and Full Board Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $9,592

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$55,272

Subtract total aid accepted on the financial aid award letter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ ___________________

Approximate amount to be paid by the student . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ ___________________ *

We estimate indirect costs such as books and personal expenses will be approximately $2,400 for the year.

* Actual cost may be higher since other fees will vary by the individual (e.g., music lessons, uniforms, lab fees, parking). See the Wartburg Academic Catalog. Every first-time student will be charged a ONE-TIME $200 indemnity fee that is refunded, less any outstanding charges, when the student graduates.)

Financial Literacy

Check out our financial literacy page at www.wartburg.edu/financial-aid. Like us on Facebook to keep up to date on financial literacy activities on campus and outside scholarship opportunities!

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APPROXIMATE MONTHLY INTEREST

LOAN AMOUNT 6.8%

$1,000 $6 $3,500 $20 $4,500 $26 $5,500 $31 $7,000 $40 $8,000 $45 $10,000 $57 $13,500 $77 $15,000 $85 $17,000 $96 $19,000 $108 $20,000 $113 $23,000 $130 $25,500 $145

ESTIMATED MONTHLY PAYMENTS

(10-Year Term)

LOAN AMOUNT 6.8%

$1,000 $50 $3,500 $50 $4,500 $52 $5,500 $63 $7,000 $81 $8,000 $92 $10,000 $115 $13,500 $155 $15,000 $173 $17,000 $196 $19,000 $219 $20,000 $230 $23,000 $265 $25,500 $293

The interest rate is fixed at 6.8%.

FIRST-TIME BORROWERS

Three Easy Steps to Completing the Loan Process at Wartburg College:

Step 1: Financial Aid will originate your Federal Direct Loan once you have registered for classes. You will need to complete a Master Promissory Note (MPN) online at https://studentaid.gov.

Step 2: To receive Federal Direct Loan funds on your student account, you will need to complete an Entrance Counseling session. Go to https://studentaid.gov to complete the process.

Step 3: A new annual requirement for student borrowers will be to complete an Annual Student Loan Acknowledgement (ASLA). Please check your Wartburg email this summer for directions.

Upon completion of the MPN and Entrance Counseling, loan funds will be disbursed through an electronic funds transfer (EFT) to your student account at the beginning of each term.

The Financial Aid Office will most often contact you through your Wartburg email address. Please read and respond to all future correspondence from Wartburg College and your loan servicer. If you have any questions regarding your loan, contact the Financial Aid Office at 800-772-2085, ext. 8262.

FEDERAL DIRECT LOANAPPLICATION PROCESS

Wartburg College is dedicated to challenging and nurturing students for lives of leadership and service as a spirited expression of their faith and learning.

Consumer information is available at www.wartburg.edu/consumer. This information contains statistics, policies, and programs at Wartburg College, which includes, but is not limited to, the Annual Security Report and the Annual Fire Safety Report. Please contact the Financial Aid Office with questions or to request a paper copy.