Types of Aid Available

Updated: 12/1/15; Reviewed: 7/13/21
Contact: Financial Aid

Jewell Scholarships and Grants
William Jewell scholarships and grants are credited to your student account automatically by the Office of Financial Aid and Scholarship Services (one-half of the total annual grant each semester) unless there are participation requirements such as athletics, music, debate, newspaper and theatre. These awards will require that students sign an agreement/contract. All talent recipients excluding athletes will accept the participation award at their MyJewell account. Full-time enrollment at William Jewell is a requirement.

External Grants and Scholarships
Federal and State aid awards will be applied to your student account. Outside scholarships such as those received through local clubs, organizations, high schools, etc., will be deposited to the student account. Most of these scholarship proceeds arrive at the Office of Financial Aid and Scholarship Services for coordination with the overall student financial aid package. Any payments made directly to the student must be reported to the Office of Financial Aid and Scholarship Services. External scholarships received for student-athletes will require that the Financial Aid Office secure written confirmation of selection procedures before processing scholarship programs.

Federal Perkins Loans
Federal Perkins Loans are disbursed directly to the student borrower’s account, generally one-half of the total annual award each semester once all requirements are complete. The borrower must sign all loan documentation which is a paper process, including the Federal Perkins Loan Master Promissory Note (MPN) for first-time borrowers. The William Jewell Student Loan Coordinator will contact the borrower when loan documentation is ready for completion. One of the eligibility requirements is a minimum half-time enrollment status.

Federal Nursing Loans
Federal Nursing Student Loans (NSL) are disbursed directly to the student borrower’s account, generally one-half of the total annual award each semester once all requirements are complete. Among the requirements is compliance of the Federal Truth-In-Lending Act (TILA) that requires the borrower to complete an on-line process and mandatory waiting period. The borrower must also sign all loan documentation which is a paper process, including the Federal Nursing Student Loan Master Promissory Note (MPN) for first-time borrowers. The William Jewell Student Loan Coordinator will contact the borrower when loan documentation is ready for completion. One of the eligibility requirements is a minimum half-time enrollment status.

Federal Direct Stafford Loans
Federal Direct Stafford Loans will be credited to the student account, generally one-half of the total annual award must be used first to pay tuition before being used for living expenses. Accordingly, one-half of the total loan amount, minus any loan origination fees, will be disbursed directly to the student account each semester. At least half-time enrollment is required. It is a student responsibility to ensure that the Federal Direct Stafford Loan funds are credited to the student account. Before Federal Direct Stafford Loan funds can be disbursed, the requirements of both the Federal Direct Loan Entrance Counseling and Master Promissory Note must be completed for the first-time borrower at the U.S. Department of Education website. The borrower must also accept the Federal Direct Stafford Loan at the MyJewell account each academic year loan funds are borrowed.

Federal Direct PLUS and Graduate PLUS Loans
Federal Direct PLUS and Graduate PLUS Loans must be credited to the student account, one-half of the total annual award each semester. At least half-time enrollment is required. The loan funds are transmitted directly into the student account at the beginning of each semester. It is a student responsibility to ensure that the Federal Direct PLUS or Graduate PLUS Loan funds are credited to the student account. Before funds can be disbursed, a Master Promissory Note and application must be completed. For a Federal Direct Graduate PLUS Loan the student must complete Federal Direct Loan Entrance Counseling on-line at the U.S. Department of Education website.

Private Educational Loans
Private Educational Loans are generally transmitted to the student account from the lender. Some lenders will send proceeds co-payable to the student and college that will require endorsement by the student to credit the funds to the student account. While most private loans are requested by the student in even disbursements, it may be more appropriate to request uneven amounts based on unusual expenses anticipated in either semester. Disbursement of proceeds (according to disbursement dates approved by the college) will occur when the student borrower has completed the necessary application, promissory note (including co-endorser addendum if required) and all consumer information requirements requested by the lender. The lender can provide further details regarding its specific private loan disbursement method. Generally, half-time enrollment is required for most programs.