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Table of Contents

Grants and Scholarships


Employment


Loans




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Grants and Scholarships

Federal Pell Grant
For undergraduate students, first baccalaureate degree only. Eligibility is based on financial need. The amount of the award ranges from $400 to $4,000 per year, subject to Congressional appropriations, and will be reduced for students who enroll less than full time. The Federal Pell Grant processor notifies students of their eligibility by sending them the "Student Aid Report" (SAR).

Federal Supplemental Educational Opportunity Grant (SEOG)
For undergraduate students, first baccalaureate degree only. The Financial Aid Office determines eligibility for this program based on the FAFSA information and funds available. Priority is given to Federal Pell Grant recipients who have demonstrated exceptional financial need.

Minnesota State Grant
For undergraduate students that are residents of Minnesota, demonstrate financial need, attend a school in Minnesota and have not exceeded the equivalent of 10 full-time semester of attendance. Winona State University calculates eligibility for enrollment levels ranging from 3 to 15 credits.  See the MHESO home page for further information on the state grant.

Minnesota Child Care Grant Program
The maximum award amount is $2600 for each eligible child per academic year. Non-AFDC Child Care Grant awards will be divided evenly, and disbursed to recipients each quarter or semester, depending upon the type of school the student attends.
Who is eligible? Award recipients must:


*Income eligible guidelines: The student's 2002 family income must be less than the following amounts:

 
Family of 2 - $40,000               Family of 7 - $55,000
Family of 3 - $43,000	       Family of 8 - $58,000
Family of 4 - $46,000	       Family of 9 - $61,000
Family of 5 - $49,000	       Family of 9 + - $64,000
Family of 6 - $52,000

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Institutional Scholarships

WSU ACADEMIC SCHOLARSHIPS
Approximately 250 students share in the Winona State University Scholarship Program. These scholarships and awards are determined by the WSU Admissions Office.

Outstanding Academic Honors Award:
Established in 1991, this $2500 award recognizes incoming freshmen for outstanding academic achievement in high school, and is renewable each year for a total of $10,000 if a cumulative GPA of 3.5 is maintained while remaining in continuous full-time attendance and completing at least 12 credits per semester. Students in the top 5% of their graduating class who have an ACT composite of 32 or greater are eligible. Awards are based upon date of acceptance to the university, therefore, early application to WSU is encouraged. Recipients are required to live on campus their first two years unless residing with a parent or guardian. First priority awards will be made in early December. A separate application is not required.

WSU Foundation Board Scholarship :
The WSU Foundation Board annually awards scholarships of $2000 to four entering freshmen who rank in the top 5% of their high school graduating class and have an ACT composite of 28 or greater. An on-campus interview is required. Interview candidates are selected by submitting an essay. This scholarship is renewable each year for a total of $8000 if the student maintains a cumulative GPA of 3.50, while remaining in continuous, full-time attendance and completing at least twelve credits per semester. Recipients must live on campus for their first two years unless residing with a parent or guardian. Students must be accepted to the university by January 15 to be considered. A separate application is not required.

President's Honor Scholarship:
The President's Honor Scholarships are awarded to entering freshmen in the following categories:

This scholarship is available for four years if recipients are in continuous full-time attendance and maintain a 3.50 cumulative GPA and completes at least 12 credits per semester. Recipients must live on campus for their first two years unless residing with a parent or guardian. Awards are based upon date of acceptance to the university, therefore, early application to WSU is encouraged. First priority awards are made in early December. A separate application is not required.

Academic Awards: $300-$500 awards are made to students graduating from a high schools in Minnesota and Wisconsin. Students who are in the top 20% of their graduating class with a minimum ACT of 21 or have an ACT composite of 24 and are at least in the top half of class are eligible. Awards are based upon date of acceptance to the university, therefore, early application to WSU is encouraged. A separate application is not required.

Transfer Honor Scholarships:
Students transferring to WSU are eligible to apply for a Transfer Honor Scholarship if they have a GPA of at least 3.35 on a 4.0 point scale and plan to begin classes during Fall semester. Application forms are available from the Transfer Office.

SCHOLARSHIPS AWARDED BY WSU DEPARTMENTS
WSU academic departments select the recipients of the following scholarships of $100-$2000. These scholarships are awarded to freshmen and upperclassmen in good standing and majoring in given areas. Students interested in these scholarships should contact the designated departments for information on application procedures and deadlines. The application process begins early in Spring semester.

OTHER SCHOLARSHIPS

Scholarships Awarded by the WSU Financial Aid Office
The Financial Aid Office selects the recipients for scholarships totaling more than $60,000. Awards are based on the demonstrated financial need and academic standing of the student. The only application required or accepted for these scholarships is the application for student aid. All students who submit this needs analysis report to WSU receive scholarship consideration based on their test scores and/or cumulative grade point average combined with their financial need. Amounts vary from $100 to $1500. Financial aid applications should be filed as soon as possible after January 1.

Additional Scholarships

Alumni Society Merit Scholarships
The WSU Alumni Society awards six $500 scholarships to entering freshmen who are relatives of alumni. The applicant must be a child, grandchild, brother, sister, or ward of a WSU graduate. The applicant must have the endorsement of the relative and a high school counselor. Application forms are available from the WSU Alumni Office and must be completed by March 1

Resident Tuition Scholarships:
The Resident Tuition Scholarship (RTS) awards resident tuition rates to new, non-resident non-reciprocity freshmen. This scholarship is renewable for a total of 8 academic semesters if the student maintains a cumulative GPA of 3.00 while remaining a continuous full-time student and completing at least 12 credits per semester. Students who rank in the top 15% of their graduating class (minorities in the top 25%) or have an ACT of 25, an SAT total of 1100 or PSAT selection index of 150 are automatically awarded the RTS upon acceptance to the university. Early application to WSU is encouraged. A separate application is not required.

Talent Scholarships:
Students interested in art, music, speech, or theater can apply for fine art scholarships by contacting the chairperson of the appropriate WSU department. Early application is encouraged.

Students interested in Intercollegiate Sports should contact the appropriate head coach for consideration for athletic scholarships.

Cultural Diversity Scholarship
The Cultural Diversity Office coordinates minority scholarships, incentive grants, internships, and summer opportunity employment programs. Scholarships of $350-$1,100 are available to qualified minority students who are new students at WSU. The awards are renewable each year if the recipient maintains the appropriate GPA and completes a minimum of 12 credits per semester. Applications are available from the Cultural Diversity Office, 121 Kryzsko Commons (507) 457-5595.

OTHER WSU FOUNDATION SCHOLARSHIPS
The Karen Sweetland Scholarship, the Kaiser Scholarship and the Knight Scholarship all $500, are awarded annually by the WSU Foundation to a WSU junior or senior with a minimum 3.75 GPA. A letter of application should be sent to the WSU Foundation. Each year a WSU Faculty/Support Staff Scholarship is awarded as a general scholarship. WinCraft Inc. offers a $500 scholarship, giving priority to WinCraft employees or their relatives. For further information, contact the office of University Relations and Development, 210 Somsen.

A Treasures Galore Scholarship is awarded each year to a Winona County high school graduate who enrolls at WSU. Students apply directly to Treasures Galore in Winona.

A Norwest Bank Red Wing Scholarship is available to a student from Red Wing Independent School District 256 who enrolls at WSU. Students apply through their high school counseling center.

OTHER SOURCES OF SCHOLARSHIPS
In addition to receiving the scholarships described here, each year WSU students also receive thousands of dollars in scholarships from outside sources such as government agencies, professional organizations, civic groups, corporations, sororities and fraternities, foundations, religious groups, educational associations and military/veterans organizations. Directories of these scholarship sources are available in public libraries, high school counselor offices and financial aid offices. You may also access scholarship information on the internet at: http://www.finaid.org/

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Employment

Federal Work Study
Federal Work-Study is an employment program for both undergraduate and graduate students. Eligibility is based on the federal methodology using the information provided on the FAFSA. Students who demonstrate financial need are allocated money to be earned while working on campus or in non-profit organizations. Work schedules are coordinated with class and study schedules. Minimum wage laws are followed and paychecks are issued every other Thursday. The amount of money you are awarded is the maximum you can earn during the academic year.

Minnesota State Work-Study is funded by the State of Minnesota and is available only to Minnesota residents. Demonstration of financial need is required. The rate of pay is minimum wage or more, and like the Federal program, students can work off-campus.

Other Employment Opportunities
If you are not awarded Federal or State-Work Study but wish to earn money to help pay expenses, there are a limited number of positions available to students through various departments on campus. Students seeking this employment should contact campus departments. Demonstrated financial need is not required. The Financial Aid Office also maintains a bulletin board of off-campus job postings. This is located directly outside the Financial Aid Office, Somsen 108.

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Loans

Loans are sources of funding that allow you to spread the cost of education over time. They are available from various sources, including federal and state governments, the University and private lenders.

Loans are first credited to your student account with any remaining money disbursed to you in the form of a check. Your loans may be canceled if you do not completed the required documents (i.e., promissory note and entrance counseling).

When you take out a student loan, you must pay it back--even if you do not complete your education.

Federal Perkins Loan
For graduates and undergraduates. Awards are based on financial need as demonstrated by the information provided on your FAFSA and on the availability of funds. Preference is given to students with exceptional need on a first-come, first-serve basis.
For more information, click here.


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Federal Stafford Loans
First-Time Borrowers: All first-time borrowers must complete an entrance loan counseling on the web. Loans for first-time borrowers will be held for 30 days before being disbursed.(effective 10/1/02)

Entrance Counseling should be done only when a student is actually applying for a stafford loan. Go online forEntrance Counseling

Exit Interviews: When leaving Winona State University, all student borrowers must complete exit interview online. The Financial Aid Office will provide information upon graduation.

An origination fee is deducted from each loan disbursement. This fee is required by law and is used to reduce the federal government's cost of subsidizing this loan program.

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Subsidized Federal Stafford Loan
For graduate and undergraduates enrolled at least half-time. Low interest loans are made by commercial lenders who participate in the program. You must demonstrate financial need as determined by the information provided on the FAFSA. You do not pay interest on the loan if you continue to be enrolled at least half-time. The interest rate is variable for new borrowers, with a maximum of 8.25%. Contact the Office of Financial Aid for current rate information.

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Unsubsidized Federal Stafford Loan
For graduates and undergraduate students enrolled at least half-time. Unsubsidized Federal Stafford Loans are not based on need, although you must file the FAFSA to be considered. The interest rate is variable with a maximum of 8.25%. Interest will be charged from the time the loan is disbursed to you until it is paid in full. You can choose to pay the interest while you are in school or allow it to accumulate. However, allowing it to accumulate will increase the total amount you have to repay. Contact the Office of Financial Aid for application information.

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Federal Plus Loans
Loans made to credit-worthy natural or adoptive parents of eligible dependent undergraduate students. PLUS loans are not based on need and may be used to replace all or part of the expected family share. The interest rate is variable and set each June. The maximum is 9%. A 4% origination fee and insurance premium may be charged. Borrowers must begin repaying principal and interest within 60 days of disbursement. Contact the Office of Financial Aid for application information.

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Student Educational Loan Fund (SELF)
First-Time Borrowers:all First-time borrowers must complete an entrance lean counseling on the web. Entrance counseling should be done only when a student is actually applying for a SELF loan.
The SELF program is a long-term, low-interest educational loan provided by the Minnesota Higher Education Services Office (MHESO). The program is unique to Minnesota and MHESO is the only lender in the program.

Minnesota residents attending eligible post-secondary institutions in-state or out-of-state and non-residents attending eligible post-secondary institutions within Minnesota are eligible to apply. An eligible school is one who has signed a contract with the MHESO in order to participate.

Undergraduate students in grade levels 01 and 02 may borrow up to $4,500 per year; undergraduate students in grade levels 03, 04, and 05 may borrow up to $6,000 per year. Graduate students may borrow up to $9,000 per year. Aggregate borrowing maximums are $21,000 for undergraduate students to $25,000 post baccalaureate students, and $40,000 for graduate students. There is a $500 loan minimum.

Currently the interest rate is 4.60%. The interest charged is the sum of the margin, which is currently 2.70%, added to the index, which is based on the average rounded to the nearest tenth of one percent of the three-month London Interbank Offered Rated (LIBOR) rate during the previous calendar quarter. There is a cap on interest rate changes of 3% during any 12-month period.

Since 7/1/89, there have been no fees of any kind charged or deducted from the SELF loan check.

There is no "grace" period, and no deferment of payment is available. Quarterly payment (interest only) begins 90 days after disbursement, and continues as long as the student is properly enrolled. At termination of study, monthly payment (interest only) begins and continues up to 12 months. On the 13th month out of school, borrowers have a choice of two repayment plans: (a) The Standard Plan requires monthly payment of both principal and interest for up to nine more years, (b) The Extended Interest Plan provides two or more years of monthly principal and interest payments.

If a student transfers schools or goes on to graduate school the student can still make interest-only payments ONLY if they transfer before the transition period elapses, and ONLY if the school to which they transfer is an eligible one.

The length of repayment period is determined in the following variables:


There is no minimum income threshold or requirement for the demonstration of financial need. Eligibility is determined by subtracting available financial aid from the yearly cost of attendance. Aggregate student loan indebtedness is also an important consideration. Every applicant must have the SELF application certified by the financial aid officer, and completed by a credit-worthy co-signer.

A credit-worthy co-signer is a U.S. citizen or permanent resident 18 years of age or older, with an address in the United States, who has no credit bureau balances discharged through bankruptcy, no garnishments, attachments, foreclosures, repossessions, or suits; no delinquent or unsatisfied credit obligations; no more than five percent (5%) of credit bureau balances past due. If the co-signer cannot be located in the credit bureau listings, a Personal Financial Statement provided by the so-signer will be evaluated. Using this method, the co-signer must have a net worth equal to ten (10) times the amount of the SELF loan requested. The MHESO performs the credit check on each co-signer for each application.

The SELF Program is not subsidized the federal or state government. Because SELF must pay for itself, continuous payment from the borrower is required, and a credit-worthy co-signer is needed to insure repayment.

To obtain more information about the SELF Program, contact the Financial Aid Office at Winona State or call the Minnesota Higher Education Services Office (MHESO) at (612) 296-3974, or toll-free, 1-800-657-3866. You may also visit them at: MHESO Website

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WSU Short-term Loan
The WSU Emergency Loan fund is designed to assist students with unexpected expenses. It is a short term loan typically involving repayment between thirty and sixty days after disbursement. Expenses caused by unforeseen family, medical or personal circumstances may be temporarily defrayed through use of this fund. Normal living expenses and educational costs should be financed from other sources.

Payment is due as agreed to and is not based upon the scheduling of student aid disbursements. As the borrower, you should know the due date and be prepared to repay the loan when it is due. If this becomes a problem, contact the Financial Aid Office before the due date. The office will attempt to arrange a workable repayment with you. Do not allow the loan to become delinquent since registration materials and grade transcripts are held for delinquent borrowers.

The following guidelines apply:


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Mayo Nursing Loan

The following criteria need to be met for the Mayo Nursing Loan Program:

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