NEXT STEP: COMPLETE THE FAFSA
This allows us to add other funds to your financial aid package.
Be sure to list Wartburg College code #001896.
FINANCIAL AID
Admitted students receive a minimum $30,000 scholarship per year!
Regardless of your financial standing, we are committed to making education attainable for you. As a residential college, Wartburg supports the concept of a socially, culturally, and economically diverse student body and believes this diversity better prepares students for society. The college provides financial aid to enable students from all segments of society to attend. Wartburg believes that students should be able to select a school for academic rather than financial reasons and admits students on academic and personal promise, not the ability to pay. Wartburg offers financial aid estimates for students who apply and are accepted before December 1 of their senior year in high school.
Contact Us: (319) 352-8262 or finaid@wartburg.edu
Funds and Eligibility
Most 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 College.
- Be 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.
- Be a U.S. citizen or eligible non-citizen for federal assistance.
- Be admitted to Wartburg as a degree seeking student.
- Maintain satisfactory academic progress.
- Meet eligibility requirements for each of the aid programs accepted.
- Not be 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.
Notification of Award: We accept applications throughout the year, giving priority consideration to students who apply before March 1. Given that families can complete the FAFSA as soon as October 1 for the next academic year, prospective students who complete the FAFSA by November 1 will receive notification of their financial aid award starting January 1. Existing Wartburg students are encouraged to complete their FAFSA by March 1 and will be notified of their awards beginning in April. Current Wartburg students can check for any missing documents or the status of their award by accessing Net Partner.
Awarding Aid Criteria: Institutional merit scholarships are awarded based on a prospective student’s academics. For a first year student, this includes the most recent high school grade point average (GPA), class rank, and ACT or PSAT score. A transfer student is evaluated based on his/her most recent GPA from the college or university he/she is currently attending.Secondly, a student is awarded based on his or her financial need according to the results of the Free Application for Federal Student Aid (FAFSA). These results are used to calculate and award federal, state and institutional need based grants and loans.
Financial Aid Grievance Process
In an effort to help identify sources of assistance or procedures to follow when a student has a financial aid complaint or grievance, the following process has been outlined.
What IS Financial Literacy: Financial Literacy has become quite the buzz term on college campuses. In a nutshell, Financial Literacy is defined as possession of knowledge and understanding of financial matters. More specifically, it refers to the set of skills and knowledge that allows an individual to make informed and effective decisions through their understanding of finances. It is our goal at Wartburg College to provide our students with the tools and knowledge they need to make sound financial decisions during their college careers as well as after they graduate. Here are some statistics:
- Finances are the #1 reason that students withdraw from college and what gives them the most stress.
- A study of 1,065 teens found that 21% of 18 and 19-year olds have credit cards.
- People in the 18 to 24 age bracket spend nearly 30% of their monthly income just on debt repayment, double the percentage spent in 1992 (10% of net income is a recommended amount for debt obligation).
- The average 21 year-old in the U.S. will spend more than 2.2 million in their lifetime.
- 40% of Americans say they live beyond their means.
- The average household with debt carries approximately $10,000 to $12,000 in total revolving debt and has nine credit cards.
- 45% of college students are in credit card debt, the average credit card debt being more than $3,000.
- The number of 18-24-year-olds declaring bankruptcy has increased 96% in 10 years.
- In 2002, more people filed for bankruptcy than graduated from college in 2002.
- Personal bankruptcies nearly doubled in the past decade, including more than 1.6 million people who filed for personal bankruptcy in 2003.
- Home foreclosures in 2002 reached the highest rate in 30 years.
Other Helpful Sites:
Definition: Confirming the accuracy of information entered by a student on the FAFSA by requesting documentation from the student as required by the federal government. According to federal regulations, the following items must be verified.
- Household Size
- Number in College
- Adjusted Gross Income (AGI)
- US (federal) taxes paid
- Certain types of untaxed income and benefits
One third of all students submitting a Free Application for Federal Student Aid (FAFSA) are selected at random for verification. An institution of higher learning is required to verify any FAFSA selected by the processor. If selected, you will be notified by the processor after submitting the FAFSA. Prospective students are further notified by the Wartburg Financial Aid Office (FAO) with instructions for completing the process when they register to attend the Student Orientation, Advising and Registration (SOAR) day. Returning students will be notified by an email from the FAO. The FAO will not prepare an award package for a returning student until the verification process is complete. Wartburg verifies the above information with the collection of the following documents.
- Verification Worksheet – students will need to download and print the appropriate worksheet from the list found online. If you are an independent student please contact the Financial Aid Office.
- Parent IRS Tax Return Transcript for the appropriate tax year.
- Student IRS Tax Return Transcript for the appropriate tax year.
- Copy of all parent and student W-2 forms for the appropriate tax year
No federal or state financial aid can be distributed to the student’s account until the process is complete. The above required documents can be sent by postal mail or fax.
Wartburg College Financial Aid
100 Wartburg Blvd.
Waverly, IA 50677
Fax # 319-352-8247
After completion of the verification process the student will be notified by email of any changes that are made to their FAFSA information and previously awarded financial aid.
If a student is eligible, there are two types of financial aid that he/she can expect to receive.
Gift Aid, which comes in the form of grants and scholarships and does not need to be repaid. This type of aid may be awarded on the basis of need or merit.
Self Help Aid, which comes in the form of loans and on-campus employment. Loans need to be repaid when a student graduates or leaves school for an extended length of time. Interest rates on these loans are generally lower than commercial loans. Students can work in various departments on campus up to 20 hours per week. Almost 75% of Wartburg students are employed on campus.
Note: All students will receive an email notification each year when their financial aid award is complete. Access before then will result in an incomplete award. Incoming students with questions should contact their admissions counselor. Returning students should use the link to determine their missing documents.