{"id":47,"date":"2022-08-23T16:14:28","date_gmt":"2022-08-23T21:14:28","guid":{"rendered":"https:\/\/live-wsu.pantheonsite.io\/financial-aid\/receive-funds\/"},"modified":"2024-07-01T10:19:26","modified_gmt":"2024-07-01T15:19:26","slug":"receive-funds","status":"publish","type":"page","link":"https:\/\/www.winona.edu\/financial-aid\/receive-funds\/","title":{"rendered":"Receive Your Funds"},"content":{"rendered":"\n
\n
\n
\n \n \"placeholder\"\n <\/picture>\n \n <\/div>\n
\n
\n
\n

Receive Your Funds<\/h1>
\n

Review your WSU financial aid award letter and take the next steps to receive your funds.<\/p>\n <\/div>\n \n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n\n\n\n\n \n

\n
\n
\n
Review Your Award Letter<\/div>\n
\n

Once you\u2019ve submitted your Free Application for Federal Student Aid (FAFSA), watch and wait for a notification from the Financial Aid Office.<\/p>\n <\/div>\n <\/div>\n <\/div>\n

\n \n\n

Your award letter will detail all the types of aid you’re eligible for and the total amounts. The award letter isn’t a bill. Your tuition bill is a separate document that comes later.<\/p>\n\n\n\n

It typically takes several weeks to process your FAFSA and draw up your award letter. You can view your award letter online in Student eServices<\/a>, and you\u2019ll get an email in your WSU email account when it\u2019s ready.<\/p>\n\n\n\n

\n
\n
\n
How to Read Your Award Letter<\/div>\n
You\u2019ve received your award letter, but now what do you do? Here’s a step-by-step guide to what it all means.<\/div>\n \n\n Learn More<\/span>\n<\/a>\n\n<\/div>\n
\n
\n \"\"\n <\/div>\n<\/div>\n <\/div>\n<\/div>\n\n <\/div>\n <\/div><\/div>\n\n\n \n
\n
\n
\n
Accept Student Loans If You Need Them<\/div>\n
\n

Although WSU will automatically accept free money like scholarships and grants for you, federal student loans are another matter.<\/p>\n <\/div>\n <\/div>\n <\/div>\n

\n \n\n

You need to accept the offered loans\u2014however many you need, however much you need\u2014if you want to use federal student loans to pay for college. As part of accepting a federal direct loan, you must complete entrance counseling<\/a> and sign a Master Promissory Note<\/a> (MPN).<\/p>\n\n\n\n

You aren’t required to take out all the federal loans you\u2019ve been offered. In fact, it\u2019s best to take out only enough to pay for your upcoming tuition and\/or living expenses.<\/p>\n\n\n\n

There\u2019s no advantage to taking out more money than you need since you’ll have to pay back the loan amount plus interest once you graduate or leave college.<\/p>\n\n\n\n

\n\n
\n