Wilson Community College offers a comprehensive program of student financial aid to assist students in meeting educational expenses. Reasonable educational expenses constitute the student’s cost of attendance and include tuition and fees, room and board, books, supplies, transportation, miscellaneous personal expenses, and expenses related to maintenance of a student’s dependents.
The student financial aid program at Wilson Community College is administered according to the nationally accepted principle that the family (meaning parents or those acting in place of parents, the student, and/or spouse) is primarily responsible for a student’s educational expenses. Financial aid is available to fill the “gap” between the total cost of attendance and the amount the family can reasonably be expected to contribute.
Eligibility for financial aid is established by need analysis which is based on a comparison of the student’s cost of attendance and the expected family contribution.
Need Analysis
Need analysis is a consistent, systemic way of measuring the ability of the family to finance the total cost of education and thereby determine eligibility for financial aid. This analysis is done by the US Department of Education and all applicants are treated fairly and equitably by law based on the information they provide. The analysis is based on information provided on the FAFSA application.
- You may access the FAFSA at www.studentaid.gov.
- The college code for Wilson Community College is #004845
In determining how much you and your family can contribute, a number of factors are considered. The information you provide for need analysis is treated confidentially and will include family resources. Family resources are the income and assets of the parents as well as the student’s assets and income unless you are determined to be an independent student. All taxable and non-taxable income (Social Security, Child Support, Welfare, etc.) is included. Family resources may include the value of assets of parents such as the value of a farm or business, home equity, savings, stocks, bonds, and other real estate. Your answers on the FAFSA application for aid, and the required supporting documentation, will determine whether the student’s parental or spousal information is considered in determining need. If you are an independent married student, this will include the income and/or assets of your spouse.
Allowances are made for taxes and Social Security deductions, medical or dental expenses not covered by insurance, a housekeeping allowance if both parents are working, debts and other obligations.
The student contribution is determined from the student’s savings from a summer job, any special income (Veterans Educational Benefits, Social Security, etc.) and a percentage of the student’s savings.
Other factors considered include the family size, any unusual expenses, and the number of family members in college.
From these factors, a need analysis determines how much you and your family can contribute and how much money you will need to finance your education.
The amount of a student’s financial aid award is based on two things: (1) The expected contribution from the student’s and/or the student’s parents’ resources, (2) The student’s particular cost of attendance. The difference between resources and budget is the amount of aid the Student Financial Aid Office attempts to offer the student.