Admissions & Financial Aid Sources of Aid
Wabash College has a long tradition of offering one of the most generous scholarship programs of any college or university in the country. The extraordinary generosity of Wabash alumni and friends over the years has enabled us to maintain this outstanding merit scholarship program. The information contained here should answer your basic questions about Merit Scholarships and our policies governing the same.
THE WABASH COLLEGE PROMISE
The Wabash Promise is based on our historic commitment to provide a superior liberal arts education to qualified men regardless of their financial circumstances. Our need-based aid and merit scholarships fulfill this promise.
Need-Based Financial Aid for Indiana Students
- Academically qualified Federal Pell Grant recipients, from Indiana, will receive grants to cover the balance of all tuition and fees not covered by government grants.
- Academically qualified students from families residing in Indiana, with adjusted gross incomes up to $125,000 will receive grants to lower the Wabash tuition and fees to the equivalent to tuition and fees at the state's flagship university.
- Application for admission must be completed by March 1, 2019.
WABASH COLLEGE MERIT-BASED SCHOLARSHIPS
For Domestic Students Entering Wabash in 2019-2020
|Scholarship||Value||How to apply||Selection Criteria|
|Wabash College Lilly Awards||Tuition, standard fees, on-campus room and board each year. More than $200,000 over four years.||Apply for admission and submit the Lilly Award application by October 26, 2018.||Based on character, creativity, and academic accomplishment. Finalists interviewed on campus November 29-30, 2018.|
|Honor Scholarship||Up to full tuition over four years.||Apply for admission by December 1, 2017 and attend Scarlet Honors Weekend November 30-December 1, 2018.||Students must have a completed application by December 1, 2017. Must attend Scarlet Honors Weekend November 30-December 1, 2018.|
|Snodell Scholarships||Up to $15,000 each year for four years||Complete application for admission.||Based on residence in Chicago, northern Illinois, southern Wisconsin, and eastern Iowa.|
- Students selected as Lilly Award recipients or who receive a full tuition award from Wabash are not eligible for additional Wabash Merit-Based Scholarships/Awards. Students selected to receive more than one of the other Wabash Merit-Based Scholarships/Awards will receive the monetary value of their highest award plus a maximum of an additional $1,000 to represent each Wabash Merit-Based Scholarship/Award of an equal or lesser monetary value.
- Wabash College is a member of the NCAA Division III. Consequently, we cannot consider athletic participation, ability, or leadership roles in the awarding of Wabash Scholarships.
- Free Application for Federal Student Aid (FAFSA) should be filed by January 15, 2019.
|Federal Pell Grant||Financial need; Must file a FAFSA||Up to $5815||Does not have to be repaid|
|Federal SEOG||Financial need; Must file a FAFSA||$100 - $4000||Does not have to be repaid|
|Federal TEACH Grant||Must file a FAFSA||Up to $4000||Does not have to be repaid unless student fails to carry out required service obligation|
|Indiana Grants||Indiana resident; Must file a FAFSA by April 15, 2018||$600 - $9500||Does not have to be repaid; Required to meet completion requirements to renew awards|
|Wabash Grants||Based on financial need as determined by the FAFSA||Amount varies||Does not have to be repaid|
LOANS and WORK
|Federal Direct Subsidized Stafford Loan||Financial need; Must file a FAFSA||
Freshman - $3500
Sophomore - $4500
Junior/Senior - $5500
|Must be repaid with interest after graduation or separation from college|
|Federal Direct Unsubsidized Stafford Loan||Non-need based; Must file a FAFSA||
Freshman - $5500 (less any subsidized funds received for the same period)
Sophomore - $6500 (less and subsidized funds received for the same period)
Junior/Senior - $7500 (less and subsidized funds received for the same period)
|Must be repaid with interest after graduation or separation from the College; Additional unsubsidized funds available for students deemed independent by the Department of Education.|
|Federal Direct PLUS Loan||Must file a FAFSA||Up to total cost of attendance less other financial assistance received||Parent borrows on behalf of the student to cover expected contribution; Must be repaid with interest|
|Private Loans||Non-need based||Up to total cost of attendance less other financial assistance received||Must be credit-worthy or have a credit-worthy co-signer; Must be repaid with interest|
|Federal Work Study||Must file a FAFSA||Amount varies||Money earned while attending school; Does not have to be repaid|
|Wabash Internships and Student Employment||Need-based; Must file a FAFSA; Awarded on a limited basis||Amount varies||Money earned while attending school; Does not have to be repaid|
Tuition Remission and Exchange Policy
Tuition Exchange and GLCA Tuition Remission Exchange are tuition benefits for employees of certain post-secondary institutions and their dependents. The employing institution (also called the “home” or “exporting” institution) determines eligibility for either program. Eligible employees should contact the Tuition Exchange or GLCA Tuition Remission Exchange representative at their home institution (typically in the human resources or financial aid offices) to initiate the application process.
Tuition Exchange —Students must apply for admission to Wabash College and designate Wabash on the Tuition Exchange application no later than December 1. Selections are made on a competitive basis; typically, two or three new applications are approved to be imported each year. Applicants are notified by mid-December of the selection committee’s decision. Tuition Exchange is valued at full-tuition each year.
GLCA Tuition Remission Exchange (TRE)—Students should apply for admission to Wabash College no later than December 1. TRE is valued at full-tuition, minus 15% of the mean charge of tuition for the participating colleges.
Both benefits are available for eight semesters and students must make satisfactory academic progress to retain eligibility. The parent/guardian eligible employee must reapply with and be approved by the home institution each year. Students should complete the FAFSA (Free Application for Student Aid) each year to apply for other federal and/or state grant assistance. Recipients of Tuition Exchange and the GLCA Tuition Remission Exchange benefits are not eligible for Wabash merit-based assistance.
Scholarship Integration into Need-based Aid
By Federal regulation, need-based financial aid can be no greater than a student’s demonstrated financial need. Therefore, if the student’s demonstrated need is greater than his merit award/s, the merit award/s will be integrated into his overall need-based aid award. In limited cases, this may necessitate the reduction of merit award/s, but in no case will the aggregate scholarship/grant funds be less than the value of the merit award/s. If a student with need-based financial aid and/or merit award/s receives outside scholarships, the outside funding may reduce or eliminate other aid. Outside scholarships and awards do not affect the value of other aid unless the total of all awards exceeds total direct costs (tuition, on-campus room and board), and books.
Outside Scholarships/Gifts and Integration into Financial Aid Award
Students must notify the Financial Aid Office of all outside scholarships and awards received. These awards will be incorporated into the student's Financial Aid Award on a pending basis until funding for each award is received by the College. Outside scholarships typically do not affect the value of merit-only awards unless the total of all awards exceeds the direct educational costs (tuition, fees, room and board charges). Outside scholarship and award checks must be sent to the Financial Aid Office in order to be processed and applied to the student's tuition invoice. Unless otherwise specified by the awarding agency, all outside scholarships and award funds are distributed evenly between the fall and spring semesters.
Merit-based scholarship recipients are expected to maintain the following Continuance in College Standards:
Course Credits GPA
End of Freshman Year 6 1.5
End of Sophomore Year 14 1.7
End of Junior Year 24 1.85
Loss of Eligibility
If a student falls below the required minimum credits and/or GPA and is allowed, per the Dean of the College, to continue his studies at the College, the student will maintain his merit-based scholarship eligibility. Students should be aware that failure to maintain the Continuance in College Standards may necessitate more than eight semesters of attendance to complete the degree requirements. As noted in the Duration section, merit-based scholarships are available for eight semesters of attendance only.
Merit-based scholarships offered by Wabash College are four-year awards (eight semesters) for students entering as first-year students. Any semester during which a student enrolls at Wabash and subsequently withdraws is considered a semester of eligibility “used.” A semester of enrollment at another college/university will count as a semester of “used” scholarship eligibility if the student transfers at least three credits back to Wabash. Semesters of attendance elsewhere will not count if the student transfers back fewer than three course credits.
Department of Defense Voluntary Education Partnership
Wabash College is an active participant in the Department of Defense Voluntary Education Partnership Memorandum of Understanding.