Financial Aid Literacy
Financial literacy is a growing national concern, and it is very important that you use tools that provide assistance with your personal finance education. We have partnered with USA Funds® to offer a variety of tools and solutions that will help with your personal finances. Using these tools will empower you with critical knowledge to take control of now and after your graduate.
USA Funds Life Skills® is a Web-based financial literacy and student success program provided at no cost. The program equips students to manage their time and money wisely during school and after graduation. The program also allows schools to track students’ progress, assess their knowledge of key personal finance and student success concepts and measure behavioral changes by measuring gains in knowledge, capturing attitude and planned action after lesson completion, and tracking students’ application of the concepts and tools in the months following completion.
Furthermore, take advantage of the USA Funds Student Loan Repayment Calculator which allows you to compare monthly payments, total loan costs and more. USA Funds Student Loan Repayment Calculator allows borrowers to compare monthly payments, total loan costs and payback schedules under all the repayment options available to federal student loan borrowers, including Income-Based Repayment and Pay as You Earn options. Click the link to begin using the loan repayment calculator: Student Loan Repayment Calculator
The total value of your scholarship is outlined in your scholarship offer. For scholarships paid per credit points, the total scholarship value is based on the minimum number of credit points required to complete the degree you are enrolled in at the time you receive your first scholarship payment.
This does not include advanced standing. Your scholarship will be terminated once you have been paid the total scholarship value or become ineligible to continue receiving payment under these Terms and Conditions.
- Scholarship value $6000 for a full-time study load (48 credit points), paid per year until the minimum points for your degree are completed
- Degree length – 252 credit points (equivalent to 5.25 years full-time study)
- Total scholarship value $31,500 = (252/48) x $6000
You must accept your scholarship offer by the due date, as instructed in your scholarship offer, to be eligible to receive payment. You will be sent instructions on how to receive your scholarship payment. If you do not provide the UWC with these details by the required date, your scholarship may be terminated.
Your payment date will depend on the census date of your units.
Unit census date payment dates:
- Between 16 Feb and 30 Apr – Late April
- Between 1 May and 30 Sep – Late September
- Between 1 Oct and 31 Dec – Mid December
- Between 1 Jan and Feb – Late January
Note: Some students with certain scholarships may be eligible for an early payment in March.
How your payment is calculated
Depending on your scholarship, you will be paid in accordance with one of the below calculation methods. All options are subject to the enrolment requirements outlined .
Credit point calculation
Your scholarship payments will be calculated according to the number of credit points you are enrolled in at the census date.
- $6000 for a full-time study load (48 credit points) paid per year until the minimum points required to complete the degree are completed
- Enrolled credit points in one semester = 18
- Scholarship payment
$2250 = ($6000/48) x 18
You will not be paid for units that are studied at another university or that do not form part of your degree (e.g. Diploma of Languages units). Students awarded scholarships commencing in semester one will not be paid for any units completed prior to be being awarded the scholarship (e.g. Summer B)
How your scholarship is paid
There are two ways a scholarship can be paid:
- into your nominated bank account; or
- to your course fees (not including the Student Services and Amenities Fee – SSAF).
Should you have any questions about Financial Literacy, please contact the office at firstname.lastname@example.org or at +1 (626) 692-6949.