The cost of college can add up and unfortunately, sometimes scholarships and
grants cannot cover everything. Wayland Baptist University offers a few other alternatives to help cover the cost of higher education with the following programs:

WORK STUDY

Wayland Baptist University offers a great opportunity to gain work experience... and earn a little extra cash. Several work-study positions are available on campus which offer work experience in numerous fields of study.

Students seeking employment on campus must complete Student Worker Orientation. The student will also be required to submit the following documents in order to retain a position. It is the student’s responsibility to submit a copy of their application to the departments on campus that fit their personality and skill level. Once the student finds employment on campus, they will work with the department of employment and our Work-Study Coordinator to complete a work agreement in order to receive payment. The Work-Study Coordinator will determine whether the student will be considered Federal Work-Study, Institutional Work- Study or be funded through the Literacy Program*. Student pay checks are normally
deposited directly into the student’s banking account unless arrangements
are made with the Business Office for these funds to be directly submitted to the student's Business Office account (toward current balance).

*For students interested in working with elementary students ask about the Literacy Program.

Note: Work Agreements and Time Sheets may only be obtained through the Office of Financial Aid. Generally, students may only work up to 20 hrs a week at the current minimum wage of $7.25 per hr. Time sheets are due on the 15th and last day of the month. *International students are able to participate in the Institutional Work-Study program as long as their financial aid awards plus earnings do not exceed their total cost of attendance.

*Once the documents are completed, they should be submitted to the Work-Study Coordinator, Office of Financial Aid.

Click here for a list of departments offering Work-Study positions. Contact listed departments to find current openings. Departments highlighted in red have indicated they are currently seeking Work-Study students.

Contact our Work Study Coordinator with any questions.

Another form of self-help is student loans, and under the current government, all student loans are considered Federal Direct Loans. Students who indicate interest in the FDLP will be awarded loans upon completion of the student financial aid file. WBU prorates federal financial aid funds based upon terms of enrollment. A student's loan eligibility will be adjusted according to hours of enrollment, Expected Family Contribution (EFC) determined by the FAFSA, cost of attendance, and other federal aid received such as grants, scholarships, TA, employer tuition assistance, vocational rehab benefits, etc...

Once a student is notified of loan eligibility through the award notification, the student will need to complete the loan award online by completing Loan Entrance Counseling and signing the Master Promissory Note (MPN) at
www.studentloans.gov. Federal financial aid funds will not be disbursed until all documentation to complete the student's file is received.

There are two types of Federal Loans: Direct Subsidized and Direct Unsubsidized.

Direct Subsidized Loans—Direct Subsidized Loans are for students with financial need. Your school will review the results of your Free Application for Federal Student Aid (FAFSA) and determine the amount you can borrow. You are not charged interest while you are in school at least half-time and during grace periods and deferment periods.

Direct Unsubsidized Loans—You are not required to demonstrate financial need to receive a Direct Unsubsidized Loan. Like subsidized loans, your school will determine the amount you can borrow. Interest accrues (accumulates) on an unsubsidized loan from the time it is first paid out. You can pay the interest while you are in school and during grace periods and deferment or forbearance periods, or you can allow it to accrue and be capitalized (that is, added to the principal amount of your loan). If you choose not to pay the interest as it accrues, this will increase the total amount you have to repay because you will be charged interest on a higher principal amount.

Other Aid:

Wayland Baptist University also participates in the Direct PLUS loan program
A Parent PLUS loan can be applied for by parents of dependent students
(determined by FAFSA) to help cover educational expenses. Parents may complete the pre-approval process at www.studentloans.gov to determine federal financial aid eligibility based upon credit history.

Yearly limit is determined by cost of attendance minus all other awarded aid. First payment for the PLUS loan is generally due within 60 days after the loan is fully disbursed. Under certain circumstances, parents can receive deferment on the loans by contacting the lender. Denial of a PLUS loan may result in additional Unsubsidized Stafford loan eligibility for the student.

Alternative Loans:

Alternative Educational Loans should only be considered once a borrower has explored the options available through Federal Loan programs. Alternative Educational Loans provide funding options but may have higher, variable interest rates, as well as different repayment terms and options. Potential borrowers should carefully compare all loan terms and conditions.

To view a historical lender list (lenders that have been used by WBU students in previous years), please click here.

A student borrower may select any lender and is NOT restricted to the lenders presented on the historical lender list provided

The cost of higher education can add up quickly. For tips on Federal Student Loan limits and borrowing responsibly, please visit the following sites:

Tips to Borrowing Responsibly
Federal Student Loan Limits
Borrower Responsibilities & Rights