WHAT AID IS AVAILABLE FOR GRADUATE STUDENTS AT WSU?

Since federal grants and the Minnesota State Grant are only available for undergraduate study, graduate students should consider student loan options. The Federal Stafford Loan program is an option for any student who is admitted as a regular graduate student, is in good standing, and is enrolled for at least three graduate credits. A Free Application for Federal Student Aid (FAFSA), http://www.fafsa.ed.gov/is required and will be used to determine if the loan will be subsidized or unsubsidized. Further information on other Types of Financial Aid is available on this website.

COMPLETING THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA)

When to File:

Graduate students should file as soon as possible beginning any time after January 1st . Students should begin their FAFSA application even before they are admitted so that the Financial Aid Office can review the FAFSA information and request any necessary follow up information while the admission process is being completed. That way an award letter can be generated as soon as the student is admitted.

How to File:

Students need to apply for their federal PIN # (if they do not have one from their undergraduate years) by visiting http://www.pin.ed.gov/

The FAFSA online application is located at http://www.fafsa.ed.gov/. A paper FAFSA, available from the Financial Aid Office, can be filled out and mailed to the federal processor, but students are encouraged to file online because of the faster turn around time. You will need your federal income tax information in order to complete the FAFSA.

RESPONSE FROM THE FINANCIAL AID OFFICE WHEN FAFSA IS RECEIVED

Tracking Letter: This type of letter, which explains why a student is not ready to be awarded, is sent out almost immediately after WSU receives the FAFSA from the federal processor because further information or a change in status is needed. A student who has not been admitted yet will receive this letter notifying them that an award letter will not be sent until they have been officially admitted. This letter will also be sent if the student is selected to provide tax documents and other verification materials before the file is complete.

Award Letter: This letter communicates the student’s eligibility levels for student loan borrowing and provides the instructions for students to follow to accept and process the loan(s). Students should not begin any loan processing steps until they receive an award letter. WSU is not able to certify any loans until the student has been awarded.

STAFFORD LOAN PROCESSING STEPS (Begin after award letter is received)

l. To complete the online Federal Stafford Loan Master Promissory Note (MPN). Go to Stafford MPN/Fastloans .

2. You will be asked to enter the amount of loan you want to borrow based on your award letter eligibility. You will also need to select a loan period and a lender from the list of lenders provided. You will need your driver’s license number and reference information for two references. You will need to use your federal PIN# to sign your MPN electronically. If you don't use your federal PIN# you will need to print out the MPN and send the signed MPN to the WSU Financial Aid Office. Please note: Students who already have a completed MPN from the prior year on file will only need to enter their requested loan amount, the loan period and agree to use the lender on record.  

3. Online entrance counseling is required for any student who has not had a Stafford loan before or does not have an unpaid balance on a prior Stafford Loan. Go to Stafford Entrance Counseling . This counseling will consist of reading the information provided, answering questions about the material, and then submitting the results.

4. A Direct Deposit Authorization must be given to WSU so that after the loan is sent to WSU to apply against the bill for tuition and fees, any overage above the amount owed can be direct deposited to the student’s bank account. Go to Direct Deposit .

COSTS AND BILLING STATEMENTS

Please refer to Cost of Attendance section of the Award Guide.

FINANCIAL AID DISBURSEMENT

Requirements for disbursement of financial aid:

1. Admission status must be as a regular graduate student seeking a degree. Grad special students are not eligible for federal loans and will be referred to alternative private loans.
2. Enrollment is required at the level of 3 graduate credits for disbursement at a half time status and 6 graduate credits for full time status.
3. Completion of the loan processing steps.
4. Entrance counseling requirements have been met.
5. Direct deposit authorization was successful.
6. Meets satisfactory academic progress standards

For further information on Financial Aid Disbursement 

SATISFACTORY ACADEMIC PROGRESS FOR GRADUATE STUDENTS

Please refer to Satisfactory Academic Progress section.

IDENTITY NUMBERS YOU NEED TO KNOW AT WSU

FEDERAL PIN#:

When you receive: You must apply at http://www.pin.ed.gov/ to initially receive this prior to filling out your FAFSA.

What you need it for: This PIN# is used to electronically sign your online FAFSA each year and to electronically sign your Federal Stafford online Master Promissory Note (MPN).

Who to contact for assistance: The website http://www.pin.ed.gov/ has options to check on your status, and find or change your number. There is a contact support staff feature which allows you to get individual assistance with you problem.

WSU WARRIOR ID AND PIN#:

When you receive: A Warrior ID, also called a student id, is assigned to you when you first make contact with WSU through an admission application or by having your FAFSA sent to WSU. You are normally notified of your Warrior ID and your PIN# when you receive your letter of acceptance to the University.

What you need it for: This identifier is used to conduct most of your business at WSU. It allows you to register for classes online or to make changes. You can view your bill online and also your financial aid award and status.

Who to contact for assistance: Contact the Graduate Office or the Registrar’s Office 1-800-342-5978 ext. 5038 or 5030 Monday - Friday 8:00am - 4:30pm.

WSU NETWORK USERNAME AND PASSWORD

When you receive: You are not assigned your username and password until you are registered for classes at WSU. It is usually given out at the training session when students pick up their laptops. The majority of graduate students do not lease laptops so they need to contact WSU Tech Support to get this information. See contact information below.

What you need it for: This is needed to complete the Direct Deposit requirement for all financial aid recipients. It is also how all network functions are accessed.

Who to contact: WSU Tech Support can be reached at 507-457-5240. They are available 7:30am to 8:00pm Monday through Thursday; 7:30am to 4:30pm Fridays; and 4:00pm to 8:00pm on Sundays. (The WSU Toll free number 1-800-342-5978 ext 5240 can be used Monday –Friday 8:00am to 4:30 pm.) The student must call rather than send an e-mail since they need to establish the identity of the caller through a short series of questions.

TIMELINE EXAMPLE FOR A LEARNING COMMUNITY GRADUATE STUDENT

Because of the nature of learning communities which have individualized starting times and registration during classes that fall outside of regularly scheduled registration, those graduate students need to be aware of how the various steps are integrated:

1. Apply for financial aid by completing the FAFSA (Check with Financial Aid Office if you are uncertain which year’s form to file)
2. Apply for Admission to WSU if you have not already done so.
3. Review any letter from the Financial Aid Office requesting further information. If the only item missing is your admission status you can wait until you are officially admitted and then contact the office if you don't receive an award letter.
4. When you are officially admitted be sure you know what your Warrior ID and pin number are (see above) or contact the Graduate Office to obtain them.
5. Review your award letter when received. Contact the Financial Aid Office if you have questions.
6. Follow the loan processing steps outlined in the letter or award guide section of the website. Only your federal pin # (see above) is required for these steps.
7. Register for classes when it is appropriate for you to do so.
8. Once you are registered you will have an amount owed on your student account. You can view your bill online using your Warrior ID and password.
9. Contact WSU Tech Support to obtain your WSU Network Username and password (see above).
10. Complete your direct deposit authorization (required for financial aid recipients)
11. Financial aid disbursement begins as scheduled by the University for registered students. Loan funds are brought to campus daily through EFT from the various lenders and are credited to the student’s account. Any overage is direct deposited to the student and arrives at the student’s bank approximately two days after funds are credited to the WSU student account.
12. A new FAFSA must be filed for each new academic year and the steps repeat as appropriate.

Last Modified: Monday, May 05, 2008 11:22 by Mari Livingston