Financial Aid Basics
Financial aid is money provided to help bridge the gap between your own resources and the amount of money needed to pay for the cost of attending Winona State University.
Minimum Eligibility Requirements
To receive federal or institutional funds administered by the financial aid office
- you must have a high school diploma (or equivalent)
- be enrolled as a regular student (e.g. not special admit, or audit) in a degree-granting program
- have a valid social security number
- be a U.S. citizen or eligible non-citizen
- be making satisfactory academic progress toward completion of your degree
- you must not owe a refund on any federal grant
- not be in default on any student loan previously received
- be registered with the Selective Service and the INS if required by law to do so
- you must not have been rendered ineligible for federal aid as a result of a drug conviction
Suspected cases of fraud or abuse will be reported to the U.S. Office of Inspector General.
Federal regulations require that we verify the accuracy of information provided. As a result, some applicants must submit IRS tax transcripts, W2's, and other requested documents. If you do not provide these materials before or during the academic year, you will not receive aid awarded by the financial aid office. An application is not complete until all required documentation is submitted. The final determination of eligibility and awarding rests with the University and is based upon uniform and consistent treatment of family circumstances.
The Free Application for Federal Student Aid (FAFSA) is the only application Winona State requires for all Federal and State financial aid programs
Applications are available on line at http://www.fafsa.ed.gov/ The FAFSA must be submitted every year you wish to receive financial aid. Winona State University's Title IV School Code is 002394. It is recommended that you wait until two weeks after you have submitted your Federal Tax Return to complete the FAFSA. This way you can use the IRS data retrieval system to have the IRS input your financial information into your FAFSA. This will reduce the likelihood of being selected for verification, and being required to submit your tax documentation to the Financial Aid Office.
***If you don't have a PIN, apply for one online at http://www.pin.ed.gov/.
The FAFSA should be submitted as soon as possible after January 1 for priority consideration. Students submitting the FAFSA after May 15 are considered late filers and may experience a delay in the receipt of their award notification and fall semester financial aid. Information provided should be from a completed tax return.
Need to Make a Correction to Your FAFSA
Necessary corrections to your FAFSA can be made online at www.fafsa.ed.gov
If you submit your FAFSA using the wrong social security number, you must refile your FAFSA. Please do not make a correction to your existing FAFSA with the wrong social security number. You will need to go to the FAFSA website and start over using the correct social security number.
Some funds are limited and available on a first-come, first-serve basis to eligible recipients. Priority consideration will be given to students submitting their FAFSA as soon as possible after January 1. May 15th is considered a late application. FAFSA filers who do not have their bills paid in full for each term by the published due date will automatically be entered into the extended payment plan with an initial $30 fee.
In the event of a substantial change in your family circumstances (loss of employment, death, etc.) after filing the application for financial aid, you may submit a Special Conditions Review Form. The Financial Aid Office will review the information reported and determine whether changes can be made.
To estimate your financial aid. Click here.
The Net Price Calculator provides an estimate of typical expenses, and an estimate of financial aid you may be eligible to receive. This information is based on price of attendance and financial aid provided to students in a previous year. It does not provide estimates on scholarships or Minnesota State Grant awards.
You have the right to know:
- The cost of attendance.
- The refund policy for students who withdraw.
- What financial assistance is available from federal, state, and institutional sources.
- Procedures and deadlines for submitting applications for financial aid.
- How financial aid recipients are selected.
- How your eligibility was determined, including all resources the aid office considered available to you.
- How and when funds will be disbursed to you.
- An explanation of each type of award you receive. For any student loan you receive: the interest rate, total amount you must repay, when your repayment begins, the length of your repayment period, and the cancellation or deferment provision of your loan.
- For any Work-Study job: a description of the job, the hours you must work, the rate of pay, and how and when you will be paid.
- The criteria used to determine satisfactory academic progress for financial aid purposes.
It is Your Responsibility to:
- Read directions thoroughly, complete all application forms accurately, and to comply with any deadlines.
- Provide any supplemental information or documentation required by the office of financial aid or other agency if applicable.
- Read, understand, and keep copies of any forms you are required to sign.
- Repay any student loans you may receive.
- Complete entrance and exit interviews on the web as required if you receive student loans while in attendance at Winona State.
- Notify the office of financial aid of any changes in your enrollment status or financial status (including any scholarships or grants received from outside sources). Changes of address and enrollment status must also be reported to your lender if you have a loan.
- Satisfactorily perform the work agreed upon in a Work-Study job.
- Know and comply with all requirements for continuation of financial aid, including satisfactory academic progress requirements.