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Financial Aid
Frequently Asked Questions
What are the types of financial aid available to me?
The three main types of aid are grants, work-study, and
loans.
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Grants,
such as the Federal Pell Grant or Washington State Need Grant, are
free assistance that do not need to be repaid.
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Work-study gives you
the chance to work and earn money for school. Work-study is
an opportunity to be employed on or off-campus.
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Loans, such as the Federal
Stafford Loan or Perkins Loan, are low interest and need to be paid
back after you leave school or drop below half-time.
How do I apply for financial aid?
You must apply by submitting a Free Application for Federal Student
Aid (FAFSA) each year you wish to be considered for financial aid.
The FAFSA may be filed on the internet or by completing &
mailing the paper application. We strongly encourage students
to file on the internet if possible for faster and more accurate results.
When filed the completed FAFSA is sent the federal processing center.
The results are forwarded to the colleges you have indicated on the
form. Application is free and you may choose up to six colleges to
receive your FAFSA results.
When do I send in my FAFSA?
You can mail in your FAFSA as early as January 1 for the school year
that begins that fall. The priority processing date at WSU is March
1. Students who miss the March 1 date are encouraged to file a FAFSA
at the earliest possible date after March 1.
For
other important WSU dates, go here.
How is financial need determined? Does all financial aid require
financial need?
Financial need is determined by taking the estimated Cost of Attendance
and subtracting the Expected Family Contribution (from the processed
FAFSA). The difference is your financial need. Based on this formula,
families with the highest financial need will be expected to contribute
less to the Cost Of Attendance and will be eligible for a greater
percentage of grant assistance and other need based financial aid.
Families whose Expected Family Contribution exceeds Cost Of Attendance
or have been considered for all need-based financial aid and still
have not been fully funded for the entire Cost Of Attendance
will
be eligible for non-need based loans; the unsubsidized Federal Stafford
and/or PLUS Loan.
Do I apply for scholarships by submitting the FAFSA?
WSU does not require that a FAFSA be submitted with the Scholarship
Application to be considered for institutional scholarships; however,
some schools may ask that you do so. Contact the colleges that you
are applying to for their specific requirements. Please note that
any scholarships you receive (from WSU or from outside agencies) may
reduce your financial need.
Go
here for more scholarship information.
Do I need to provide my parents financial information on the FAFSA?
Federal regulations dictate that if you were not born before January
1, 1983 (for 2006-2007 academic year), or you were not married, not
a veteran, not a ward of the court, not a graduate or professional
student, or do not have children or legal dependents other than a
spouse, you are considered a dependent student and must provide parent
information on the FAFSA. (For
more information on federal dependency status, go here.)
Do I need to be enrolled in school full-time to obtain financial
aid?
In order to receive your full financial aid package you must be enrolled
on a full-time basis (12 credit hours per term for undergraduates,
10 credit hours for graduates). Part time students may also receive
aid, but your award amount will be adjusted based on the number of
credits for which you enroll. If you will enroll on
a less than full-time basis, you must notify our office (in writing)
of your expected enrollment before the beginning of each term. Aid
will be adjusted only once per term for enrollment changes. Most aid
programs will not approve aid for less than half-time (6 credits per
term undergraduate, 5 credits graduate) enrollment.
What if I have special circumstances that are not addressed on
the FAFSA?
You should notify our office in writing of any circumstances not covered
on the FAFSA. You may also notify our office of changes in circumstances
that may have arisen, such as the loss of income or unforeseen medical
expenses. All such letters should include the name and social security
number or WSU ID number of the student applicant clearly indicated.
We will contact you if additional information is needed and when a
decision has been reached. Be sure that your FAFSA is still
completed by the priority processing date, which is March 1. (Go
here for more information on Special Circumstances at WSU.)
What is WSU's Federal School Code?
Washington State University's Federal School Code used in the processing
of the FAFSA is 003800.
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