Overview: Financing Your Education
A college education is likely to be one of the most significant investments you and your family will ever make. For academic year 2009-2010, Wheaton's annual charges for tuition, room and board, and required fees total $49,440.00. (A breakdown of tuition and fees by semester is available here.) The actual cost of attending can be substantially less for the hundreds of students who qualify each year for financial assistance. Approximately 60 percent of Wheaton students receive some form of financial aid from federal, state or college funds; many others take advantage of a range of alternative financing programs available through the Office of Student Financial Services.
Determining Eligibility
Financial assistance at Wheaton is distributed based on a combined evaluation of financial need and academic performance. Our financial aid awards reflect your level of overall achievement in the degree to which we meet your financial eligibility. "Need" (i.e. eligibility) is the difference between the cost of attending Wheaton and the amount that we estimate you and your family should be able to contribute on an annual basis. This contribution is calculated based on the financial information that you and your family provide on the Free Application for Federal Student Aid (FAFSA) and PROFILE forms. The analysis considered factors such as family size, number of dependents attending college, and any extraordinary medical or unusual expenses, as well as the student's and family's total income and assets.
The Financial Aid Package
Once your eligibility is determined, we attempt to meet all or part of it through a "package" of resources that may include a grant, a loan or a job, singly or in combination. Student aid funds come from a variety of sources, including Wheaton's own grants, loans and job programs as well as from many federal aid programs: Pell Grants, Supplemental Educational Opportunity Grants (SEOG), Perkins and Stafford Student Loans, and the College Work-Study Program, for example. Your student aid package also may include state scholarships from programs in Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, Pennsylvania, Rhode Island or Vermont.
Other Options and Opportunities
Even students who are not eligible for direct aid through Wheaton can have difficulty meeting college costs. Several additional plans and programs are available to help you finance your Wheaton education. Examples include a no-interest Budget Payment Plan and alternative financing options.