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. The primary responsibility for meeting the cost of education rests with the student and family to the extent they are able to pay. Eligibility for financial aid is based on Winona State University's costs less the amount we expect your family to contribute towards that cost. The formula for determining this contribution, as written into federal law, takes into account your family income and assets.
Most financial aid at Winona State is awarded on the basis of need, although some is awarded in recognition of merit and achievement. Our primary objective is to assist as many students as possible and to provide access to Winona State University for all qualified individuals.
To receive federal or institutional funds administered by the financial aid office
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 required for the following student assistance 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 date retrieval system to have the IRS input your financial information unto 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.
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.
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.
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