Attention parents with Payment Plans. As of January 10, the payment plan system is now in “Actual Phase”.
Student Accounts Updates
This means that if your payment plan does not accurately reflect the amount due on the student’s account, the plan will self-adjust to correct this.
Students and their authorized payers need to make sure that they have funds available and that their financial aid is posting to their accounts. If another outside payment is going to be made, you will also want to do that prior to the rebalance. The payment plan will only take into account anything posted on the account at the time rebalancing occurs.
During this phase, we cannot make any manual changes outside of terminating the plan. Plans can be terminated at any time with no additional charges, but please remember that if the plan is terminated and the balance is not paid in full, the student risks occurring holds and late fees.
Below, you can see when rebalancing occurs and how notifications will be generated.
Actual Phase Timeline
|15 Days Before||Re-balance Notification (If applicable)|
|An email will be generated notifying you that a re-balance may occur in five days.|
|10 Days Before||Re-balance Activity (If applicable)|
|If your estimated budget does not match the actual charges on your student account, the remaining payments will be adjusted. The payments can be either increased or decreased, depending on the discrepancy.|
|5 Days Before||Payment Reminder|
|An email will be sent out reminding you of that your payment will be withdrawn on the 5th. At this time, you will want to ensure that the funds are in your account and that you are aware of the new payment amount if applicable.|
|5th of the Month||Final Re-balance (Decreases Only)|
|If you received any additional financial aid or made a payment, your remaining payment plan payments will be decreased.|
|Payment is Processed|
|Your payment is automatically processed using the payment information you provided. An email notification will be send when the payment has been processed.|
If you have further questions about the payment plan system, please visit the following websites:
My College Payment Plan: http://mycollegepaymentplan.com/umw/
Payment Plan Information: https://adminfinance.umw.edu/studentaccounts/payment-plan-information/
You can also contact our office at 540-654-1250 or 540-654-1289 or by email at email@example.com.
Financial Aid Updates
2/1/19 2019-2020 UMW FAFSA Priority Deadline
- 2019-2020 FAFSA: The 2019-2020 FAFSA is now available at fafsa.ed.gov or by downloading the new MyStudentAid app in the Apple App Store or Google Play. It is recommended that students complete the FAFSA early to ensure they receive funding from all financial aid programs for which they are eligible. For example, Virginia State grants have limited funding, and are awarded based on FAFSA completion date until the grant funds are depleted.
- Due to the Government Shutdown and the IRS being closed students and families can now submit signed 1040 (Individual Tax Returns) for their Tax Return Transcript, if selected for Verification by the Department of Education.
- 2019-2020 Award Packages: Continuing students can anticipate to receive 2019-2020 award packages towards the end of February early March, given they have no outstanding Financial Aid requirements.
- FERPA: Due to Federal privacy regulation (FERPA), the Office of Financial Aid is only permitted to speak to students, and individuals that have been designated a ‘delegated user.’ This allows Financial Aid Representatives to speak to the third party about financial aid requirements, and award status.
- Enrollment Changes & Financial Aid: When initially awarded, financial aid is based on full-time enrollment (12-18 credits/semester). After the add/drop period, all financial aid packages are reviewed based on actual enrollment. Please be aware that dropping below full-time status could cause a change in your financial aid package. Please visit the UMW Financial aid website for a full list of enrollment requirements by program type.
- Student Employment: There are approximately 700 student employment positions across campus. Students may apply through the UMW Career’s homepage. Hiring occurs throughout the year. Students are encouraged to reach out to any department for which they are interested in applying, as they would make the actual hiring positions.
UMW Office of Financial Aid
Lee Hall, 2nd Floor