Financial Aid FAQs

What are the school codes for Wells College?

FAFSA Code: #002901
New York State TAP Code: #1050

How do I apply for financial aid?

You can apply for financial aid by completing the FAFSA after October 1 with the Federal Processing Center. We strongly recommend that new students complete the FAFSA by December 1 and returning students complete by May 1.

We won't have our taxes done until April, so I can't complete the FAFSA. What do I do?

Not to worry! New legislation requires students and parents to complete their FAFSAs using the prior prior year tax information. For example, for the 2022-2023 FAFSA, families should use 2020 tax information.

How much can I earn before I disqualify for financial aid?

There are no income cutoffs when determining a student's financial aid eligibility. Many factors are taken into consideration when determining a family's ability to pay beyond parental income such as household size, number of dependent children in college, family assets, and cost of the institution; so it is impossible to determine your eligibility based strictly on income. To know if you will qualify for financial aid you must apply.

When can I expect to hear about my financial aid offer?

For new applicants to Wells College, you must be accepted for admission before a financial aid offer will be sent to you. All students must have a processed FAFSA on file in order to receive a financial aid offer. Accepted new students will be notified beginning mid-December and returning students will be notified by mid-June.

How will my financial aid be disbursed to me?

All financial aid, with the exception of work-study funds, will be credited to your billing account in two equal disbursements: fall and spring. Once your charges have been paid (tuition, fees, food, housing), any additional funds on your account will be refunded to you by the Business Office to help you pay for off-campus living costs, books, or personal expenses. Students awarded campus employment will receive a paycheck for the number of hours worked in a specific pay period. Students in general are paid every two weeks. Since students have not received any work-study earnings at the beginning of the semester, we encourage students to have book money upon their arrival to campus.

Will outside scholarships affect my financial aid package?

Outside scholarships must be included in your financial aid package as a resource to help pay for your educational costs. However, it is the policy of Wells College to make sure that students are awarded for achievements and efforts by first applying these funds to any unmet need the student may have incurred. If need has been met 100%, we will lower the student's recommended loan amount. It is the responsibility of the student to notify the financial aid office of all outside scholarship awards.

How do I find a job on campus?

The Office of Career Services and Experiential Learning manages the student employment program. Students will have the opportunity to apply for jobs on-campus and off-campus. Due to the limited number of positions available, students are not guaranteed student employment. Returning students will have an opportunity to apply for a campus job during the spring semester and new students can apply online after August 1.

What if my family's financial circumstances change drastically during the year? What can be done?

There are circumstances that will enable the Wells College financial aid office to adjust a student's aid eligibility. These circumstances could include: job loss due to unemployment or illness, a one-time benefit that affected your federal adjusted gross income, separation or divorce, or unusual medical/dental expenses, elementary/secondary dependent tuition costs, nursing home costs not covered by insurance, and unusual high childcare costs. If conditions such as these occur during any of your four years at Wells, please contact the financial aid office. Do not send any letters to the federal aid processing center. They are not able to adjust your aid eligibility.

Can I expect to receive the same financial aid package throughout my undergraduate years?

You are required to apply for financial aid each year. Sometimes family situation changes: another child attends college, a parent returns to the workforce, or a parent dies. For the most part if your family situation does not change from year to year, your Wells grant will remain unchanged.

Will I have to borrow to attend Wells College?

Whether a student attends a state university or private college, student loans are a component of the aid package and help families meet their educational costs. Depending on your family's ability to pay, you may be packaged with a student loan.