WPI Co-op Program
If you are in good academic standing, you are eligible for the Co-op program. You have the option of completing one or two Co-op assignments between the end of your sophomore year and beginning of your senior year. The work periods are January through August or May through December. For each Co-op work assignment you complete, you will miss one half of an academic year. While on Co-op you do not receive any academic credit, therefore, your education will be extended to four and a half or five years, depending if you work one or two Co-op assignments.
Fall Semester Co-op
If you participate in a fall semester Co-op, you will not be eligible for financial aid during your fall semester because you will not incur tuition charges from WPI. When you return to campus for the spring semester to enroll as a full-time student, your financial aid eligibility will be assessed as follows:
One half Academic Year Cost of Attendance |
|
minus | Full year Parent Contribution |
minus | $3900 minimum Co-op Student Contribution |
equals | spring semester Institutional Aid Eligibility |
Note that the above formula includes a minimum of $3900 from your Co-op earnings towards college costs. This contribution is higher than the $1800 minimum student contribution assessed by all WPI students, because Co-op students earn a higher wage for an extended period of employment.
The above formula will most likely result in a significant reduction in institutional and other gift assistance during the spring semester. Many students who return from a fall semester Co-op are only eligible for the maximum Stafford loan ($5500 for third and fourth year students) during the spring semester. However, remember that participating in a fall semester Co-op only impacts financial aid eligibility in the subsequent spring semester.
When you return spring semester, if you plan to enroll the following academic semester or year, you must file all the necessary financial aid applications by their designated deadlines, including the FAFSA, the CSS PROFILE Application and the WPI Upperclass Application, along with signed and completed federal tax returns, schedules, and W-2 Forms. When you apply for financial aid in the following academic year, your aid will be assessed based on the usual eligibility criteria:
Full Academic Year Cost of Attendance |
|
minus | Full Year Expected Parent Contribution |
minus | Full Expected Student Contribution or $1800 Minimum |
equals | Academic Year Eligibility following fall Co-op |
Spring Semester Co-op
If you participate in a spring semester Co-op, you will not be eligible for financial aid during your spring semester because you will not incur tuition charges from WPI. In order to be eligible for financial aid during the following academic semester or year, you must file all the necessary financial aid applications by their designated deadlines, including the FAFSA, the CSS PROFILE Application and the WPI Upperclass Application, along with signed and completed federal tax returns, schedules, and W-2 Forms.
When you return to campus the following academic year, your financial aid eligibility will be assessed as follows:
Full Academic Year Cost of Attendance |
|
minus | Full Year Expected Parent Contribution |
minus | $3900 Student Contribution Minimum |
equals | Academic Year Eligibility Following spring Co-op |
As stated above, the $3900 Co-op student contribution is higher than the $1800 minimum student contribution used for all WPI students, because Co-op students earn a higher wage for an extended period of employment.
If you plan to enroll for an additional semester or year beyond that period when you return from your spring semester Co-op, your financial aid eligibility will be assessed by a similar formula; however, the student contribution will be based on student earnings or a minimum of $1800. Remember that the $3900 Co-op student contribution is only expected during the academic year immediately following the spring Co-op.
Contact the Office of Financial Aid or the Cooperative Education Program in the Career Development Center if you have questions about these policies.
Maintained by webmaster@wpi.eduLast modified: July 06, 2007 15:50:35