College Administered Loans
The student's eStatement will reflect all College-administered financial aid awards for the billed semester. The College will list offered and/or accepted Direct, PLUS, Perkins and Private loans as 'Authorized Financial Aid'. The loan amount showing on the eStatement is the approximate disbursement amount that the College will receive for the semester from the lending source. In the event that a PLUS loan is denied by the lender or any of the loans are not accepted by the borrower, the authorized aid amount will be removed from the account and the student will be responsible for paying all outstanding charges.
The borrower has the right to cancel all or a portion of any College disbursed loan and have the proceeds returned to the lender. If the borrower wishes to cancel, they must notify the Financial Aid Office at (757)-221-2420 within 14 days from the date of disbursement.
College administered Grants and Scholarships
The student's eStatement will reflect all College administered grants and scholarships for the billed semester as 'Authorized Financial Aid'. Funds are disbursed to the student's account on the first day of class for the semester. For more information regarding the types of aid available, please refer to the Financial Aid Office website.
Please direct any questions concerning your College administered financial aid to the Financial Aid Office at (757) 221-2420 or email at [[finaid]].
Private off-campus scholarships
Scholarships administered by organizations outside the College of W&M will be reflected on the student's eStatement as:
- a student account payment if the College receives the scholarship check prior to the date of the eStatement.
- a pending memo item if the Student Accounts Office has received official documentation from the scholarship organization. The scholarship award amount will reduce the semester charges.
If for any reason the scholarship funds are never received by the College, the student will be responsible for paying the balance owed.
College Work Study
Work study awards have not been deducted from the bill as they represent potential job opportunities for a student and are not intended to be used for the payment of tuition.
Any balance not covered by financial aid must be paid in full by the due date on your billing statement or scheduled through the W&M Tuition Payment Plan. Unpaid balances will result in late fees, registration holds and holds on your transcripts.