Award Letter Information For 2012-2013
The following section provides students with valuable information on how awards are calculated and disbursed. It is best to read this section after you have filed the FAFSA for 2012-2013, and have received your award letter. You can review your award letter online under Student eServices.
How Your Aid Package is Determined
Once we have determined your demonstrated financial need, we attempt to meet as much of that need as possible from the need based aid programs available. (See Types of Financial Aid). First, we consider any Federal Pell Grant and/or Minnesota State Grant, Federal SEOG, institutional or other outside gift assistance you may be eligible for. We subtract your gift assistance from your calculated need. If you have remaining need, we complete the package using one or more of the following programs: Federal or State Work-Study, Federal Perkins Loan, or the Federal Direct Loan.
How Your Need is Determined
Your demonstrated financial need is determined by a financial analysis through the FAFSA (Free Application for Federal Student Aid). Your need is simply the difference between the projected student and/or parent contribution, derived from an analysis of income, assets, household size, number in college, etc., and the projected cost of education for the period for which you are applying for aid.
The budget we use in determining your financial need consists of tuition, fees, allowance for room and board, digital life time learning fee, books and supplies, transportation, personal expenses, and loan fees for one academic year (9 months). Shown below are our estimated budgets for all students for the 2012-2013 school year. Please check your billing statement for actual costs.
Estimated tuition and fee rates for 2012-2013.
*The room and board costs listed above are used for students living on or off campus. They are based on the average cost of living on campus. If you are living on campus, you can check out the Housing and Residence Live website for your exact room and board costs. The room and board budget when you are living with your parents is $4,060 for the 2012-2013 school year.
Tuition is based on a full-time course load of 12-18 credits per semester. The Minnesota grant considers 15+ credits to be full-time. Fees cover student activities, health services, and student union programs.
Tuition is based on a full-time course load of 9 credits per semester. Financial Aid considers full-time enrollment at 6 credits per semester.
Minnesota has tuition reciprocity arrangements with Wisconsin, North Dakota, and South Dakota, which allows students form these states to pay MN resident tuition rates. For students on WI reciprocity last year, you will continue to pay tuition rates that compare with those of a state school in your home state. For students paying Midwest Compact Rates last school year, you will continue to pay Midwest Compact Rates for this school year.
Student's attending Rochester Center may see a difference in the cost of tuition and fees. Please check your billing statement for actual costs. The room and board budget when you are living with your parents is $4,060 for the 2012-2013 school year.
Financial Aid Disbursement
Fall Semester 2012
Classes Begin: August 27, 2012
Spring Semester 2013
Classes Begin: Jan. 14, 2013
You should be prepared to pay for books, supplies, and personal expenses from personal funds until financial aid is disbursed each semester.
Click here for information on the WSU book loan.
Important Disbursement Information
Third party Billing/Tuition Payment Procedures
If you are receiving financial assistance from a third party agency (Department of Vocational Rehabilitation, Job Service, Private Industry Council, etc.) you need to provide the Student Accounts Office with an authorization to bill your agency for tuition, fees, books, etc., billing to your agency does not occur until approximately three weeks into the semester and actual payment may not be received until three to four weeks after your agency is billed. Any other financial aid such as loans, grants, or scholarships will be applied to your account at their scheduled time. When your agency’s payment is received your account will be adjusted if your financial aid and third party billing exceeds what you owe WSU. WSU will then direct deposit the difference into your bank account.
Questions regarding this process should be directed to 507-457-5075.
Third party funding could affect your other financial aid. Please notify the Financial Aid Office:
Fee statement, tuition refunds, late payment, etc.
Winona State University participates in the Federal Direct Student Loan program. The lender of this loan is the US Department of Education.
New Winona State University Federal Loan Borrower
Previous Federal Direct Loan Borrower
What is an MPN?
An MPN is a legally binding contract you sign, agreeing to repay the Federal Direct Loan money you have borrowed. The MPN describes your rights and responsibilities as a student loan borrower. It is extremely important to read everything included on your MPN. By signing the MPN, you not only agree to repay the money you borrow, but you also agree to all terms and conditions included in the MPN. Once your MPN is signed, a new MPN is not required for any new Federal Direct loans.
Your MPN will automatically expire ten years after the date it is signed or received by the Department of Education. However, there are other circumstances that would cause the cancellation of your MPN before the ten-year expiration. These include:
You must complete entrance counseling if you are a first time Federal Direct Loan borrower at WSU, Federal Perkins Loan or a Minnesota SELF Loan borrower. If this is the first time that you have borrowed a Federal Perkins loan from WSU you must complete entrance counseling for the Perkins Loan regardless if you have borrowed a Perkins loan at another school.
*Your funds cannot be disbursed until this is done.
Why do I have to do it?
Federal and State regulations require us to counsel you regarding your rights and responsibilities as a borrower before you can receive your Federal Direct, Perkins or SELF loan(s).
Where do I complete my entrance counseling?
You can complete this entrance-counseling requirement at home, in the library, or in the residence hall anytime, by using the Internet.
Winona State is requiring all students to complete their entrance counseling online. If there is any problem with this, please give us a call: 507-457-5090.
How do I complete entrance counseling?
All students must have an accurate direct deposit authorization on record before any financial aid can be disbursed to your account.
Financial aid loans, scholarships and grants first pay your student account and then any overage is direct deposited to your personal bank account. You must be sure to confirm that funds are in fact in your account before attempting to use them. WSU cannot assume responsibility for your bank charges under any circumstances. If you are a new student, you will need to have your network user name and password, which is given to you when you receive your laptop.
If you are not required to have a laptop, contact the WSU Tech Support at 507-457-5240.
If you have any questions while filling out this form please call the WSU Student Accounts Office at 507-457-5075 or 800-342-5978 (ext. 5075).