Your Financial Aid Award Letter 2011-2012

Table of Contents

Undergraduate Budget
Graduate Budget
Financial Aid Disbursement
Master Promissory Note (MPN)
Entrance Counseling
Direct Deposit

Cost of Attendance

The following section provides students with valuable information on how awards are calculated and disbursed. It is best to read this section after you have filed the FAFSA and have received your award letter.  You can review your award letter online under Student eServices.

Important Reminders

  1. Please check the accuracy of all pre-printed information on your award letter and make any necessary corrections.
  2. All awards are subject to change based on the availability of funds. They may also change due to assistance you may receive from other sources such as private scholarships.
  3. If you will be receiving funding from another source that is not shown in your award letter, please e-mail the Financial Aid Office at, fax us at 507.457.5628 or send us a copy of the award notification you receive from the source.
  4. Awards are estimated and are based on the information available to us at the time of awarding. Your awards may be adjusted at the time of disbursement, and you will be notified of any changes on your online billing statement.
  5. Students receiving financial aid must be in good academic standing and must maintain satisfactory progress (see Satisfactory Academic Progress).
  6. Students should discuss with a Financial Aid Counselor how their aid will be affected if you drop classes or withdraw.
  7. Please notify the Financial Aid Office when you change the degree that you are seeking.

How Your Aid Package is Determined

Once we have determined your demonstrated financial need, we attempt to meet as much of that need as possible from the need based aid programs available. (See Types of Financial Aid). First, we consider any Federal Pell Grant and/or Minnesota State Grant, Federal SEOG, institutional or other outside gift assistance you may be eligible for. We subtract your gift assistance from your calculated need. If you have remaining need, we complete the package using one or more of the following programs: Federal or State Work-Study, Federal Perkins Loan, or the Federal Direct Loan.

How Your Need is Determined

Your demonstrated financial need is determined by a financial analysis through the FAFSA (Free Application for Federal Student Aid). Your need is simply the difference between the projected student and/or parent contribution, derived from an analysis of income, assets, household size, number in college, etc., and the projected cost of education for the period for which you are applying for aid. 

The budget we use in determining your financial need consists of tuition, fees, allowance for room and board, laptop, books and supplies, transportation, personal expenses, and loan fees for one academic year (9 months).  Shown below are our estimated budgets for all students for the 2011-2012 school year.  Please check your billing statement for actual costs.

Undergraduate Budget 

  MN Resident  Non-Resident** WI Reciprocity 
 Tuition   $6,660  $11,780  $6,260
 Fees  $920  $920  $920

 Room and Board*

 $7,540  $7,540  $7,540
 Digital LL Fee  $960  $960  $960
 Total  $16,080  $21,200  $15,680


The room and board costs listed above are used for students living on or off campus.  They are based on the average cost of living on campus.  If you are living on campus, you can check out the Housing and Residence Live website for your exact room and board costs.  The room and board budget when you are living with your parents is $4,000 for the 2011-2012 school year.

Tuition is based on a full-time course load of 12-18 credits per semester.  Minnesota grant and scholarship programs consider 15+ credits to be full-time.  Fees cover student activities, health services, and student union programs. 

Additional Expenses
You should also plan on the following annual miscellaneous expenses that are not billed by WSU.

Books & Supplies  $1,200 
Personal Expenses $2,300 
Transportation  $640 
Loan Fees  $120 

Graduate Budget

   MN Resident Non-Resident**  WI Reciprocity  ND & SD Reciprocity 
 Tuition   $6,100      $9,020  $6,000  $6,100
 Fees  $540  $540  $540  $540
 Room & Board  $7,540  $7,540  $7,540  $7,540
 Total  $14,180  $17,100  $14,080  $14,180

Tuition is based on a full-time course load of 9 credits per semester.  Financial Aid considers full-time enrollment at 6 credits per semester.

Additional Expenses
You should also plan on the following annual miscellaneous expenses that are not billed by WSU.

 Books & Supplies   $1,200 
 Personal Expenses  $2,300
 Transportation  $640
 Loan Fees  $120

** Reduced Tuition

Minnesota has tuition reciprocity arrangements with Wisconsin, North Dakota, and South Dakota.  If you are a resident of one of these states, you are eligible to pay tuition rates that compare with those of a state school in your home state.  The Midwest Student Exchange Program also qualifies students from Kansas, Michigan, Missouri, and Nebraska for reduced tuition (approximately 30% off of the non-resident tuition rate).

Budget Variance

Student's attending Rochester Center may see a difference in the cost of tuition and fees.  Please check your billing statement for actual costs.  The room and board budget when you are living with your parents is $4,000 for the 2011-2012 school year. 

Financial Aid Disbursement

Fall Semester 2011

Classes Begin: August 22, 2011
Fall Tuition Due: August 26, 2011
Financial Aid Disbursement: September 2, 2011

  • Fall semester classes begin on Monday August 22, 2011.
  • Payment for fall semester classes is due by Friday August 26, 2011.
  • If WSU receives a valid 2011-2012 FAFSA by Friday, August 26, 2011, fall classes are not automatically dropped.
  • Financial aid disbursement and direct deposit of student account balances begins on Friday September 2, 2011.
  • It can take up to three business days for banks to deposit student account credit balances into your personal bank account.

Spring Semester 2012

Classes Begin: Jan. 9, 2012
Spring Tuition Due: Jan. 13, 2012
Financial Aid Disbursement: Jan. 20, 2012

  • Spring semester classes begin on Monday, Jan. 11, 2012.
  • Payment for spring semester is due by Friday, Jan. 13, 2012.
  • If WSU receives a valid 2011-2012 FAFSA by Friday, Jan. 13, 2012, spring classes are not automatically dropped.
  • Financial aid disbursement and direct deposit of student account balances, begins on Friday, Jan. 20, 2012.
  • It can take up to three business days for banks to deposit student account credit balances into your personal bank account. Check for further information at: Billing and Payment Procedures.

You should be prepared to pay for books, supplies, and personal expenses from personal funds until financial aid is disbursed each semester.

Click here for information on the WSU book loan.

Important Disbursement Information

  • Your aid will be available each semester according to the schedule shown above. Aid such as Federal Pell Grant,  Minnesota State Grant, FSEOG and Federal Perkins Loan will be applied to your bill. Once your bill (charges for tuition, fees, and residence hall) is paid, any aid remaining will be direct deposited to your bank account. If aid is applied to your bill and there is still an amount owed, you should be prepared to pay that amount with a personal check or other funds.
  • Federal Direct and MN SELF loan funds are sent by the lender to WSU for delivery to the borrower. Any amount owed to WSU will be deducted. Because Direct loan funds can only be held for 3 days, you must notify the Financial Aid Office if you will be late registering so that your loan funds are not returned and your loan cancelled.
  • The Federal PLUS loan is electronically sent by the lender to WSU for delivery to the student’s account. Any amount owed to WSU will be deducted, and any remaining money will be direct deposited to the student’s bank account.
  • You must be at least half time to receive Federal or MN state loans and work study (6 credits for undergraduate students and 3 graduate credits for students admitted to a graduate program). Students who have Federal or State work study positions receive their bi-weekly paychecks through direct deposit to their personal bank account.
  • You have the right to cancel all or a portion of a student loan any time within 14 days from the date of the disbursement. You may return any funds you do not wish to accept by returning that portion to the loan service directly or you may request that Winona State University cancel some or all of the loan and return the funds on your behalf.
  • Entrance interviews are required of all first time borrowers. These requirements affect student loan disbursement. Please read about Entrance Counseling requirements.
  • Federal loans must be certified by WSU by the last day of the loan period.  Please complete all of your necessary steps prior to the end of the loan period, to allow for sufficient loan processing time. 
  • Before any financial aid can be disbursed onto your account, all students must fill out a Direct Deposit Form.

Third party Billing/Tuition Payment Procedures

If you are receiving financial assistance from a third party agency (Department of Vocational Rehabilitation, Job Service, Private Industry Council, etc.) you need to provide the Student Accounts Office with an authorization to bill your agency for tuition, fees, books, etc., billing to your agency does not occur until approximately three weeks into the semester and actual payment may not be received until three to four weeks after your agency is billed. Any other financial aid such as loans, grants, or scholarships will be applied to your account at their scheduled time. When your agency’s payment is received your account will be adjusted if your financial aid and third party billing exceeds what you owe WSU. WSU will then direct deposit the difference into your bank account.

Questions regarding this process should be directed to 507-457-5075.


Third party funding could affect your other financial aid. Please notify the Financial Aid Office:

Fax: 507-457-5628
Or send us a copy of the award notification you receive from the outside source.

Fee statement, tuition refunds, late payment, etc.

Information on WSU policies related to payment is provided in each semester class schedule.
Questions should be directed to the Student Accounts Office:  507-457-5075. 

Master Promissory Note (MPN)

Winona State University participates in the Federal Direct Student Loan program.  The lender of this loan is the US Department of Education.    

New Winona State University Federal Loan Borrower
If this is the first time that you have borrowed a Federal Direct Loan there are three steps that you will need to complete before your loan request can be processed.

  1. You need to complete the Federal Direct Loan Application on the student e-services website.
  2. You need to complete Entrance Counseling (website link is provided on the Financial Aid student e-services website under Loans).
  3. You need to complete a Master Promissory Note (the website is the same as the Entrance Counseling website ).  You must a Federal Direct Loan Master Promissory Note before loan funds will be disbursed to your school account.

Previous Federal Direct Loan Borrower
If you have borrowed a Federal Direct Loan, there only one step that you need to complete for your federal student loan.

  1. You need to complete the Federal Direct Loan Application on the student e-services website.  Winona State University will use your current Master Promissory Note that you have with Direct Lending.

What is an MPN?

An MPN is a legally binding contract you sign, agreeing to repay the Federal Direct Loan money you have borrowed. The MPN describes your rights and responsibilities as a student loan borrower. It is extremely important to read everything included on your MPN. By signing the MPN, you not only agree to repay the money you borrow, but you also agree to all terms and conditions included in the MPN. Once your MPN is signed, a new MPN is not required for any new Federal Direct loans.

Your MPN will automatically expire ten years after the date it is signed or received by the Department of Education. However, there are other circumstances that would cause the cancellation of your MPN before the ten-year expiration. These include:

  • There have been no disbursements made within 12 months of the date you signed the MPN.
  • You file for bankruptcy.

Entrance Counseling

You must complete entrance counseling if you are a first time Federal Direct Loan borrower at WSU, Federal Perkins Loan or a Minnesota SELF Loan borrower. If this is the first time that you have borrowed a Federal Perkins loan from WSU you must complete entrance counseling for the Perkins Loan regardless if you have borrowed a Perkins loan at another school.

*Your funds cannot be disbursed until this is done.

Why do I have to do it?

Federal and State regulations require us to counsel you regarding your rights and responsibilities as a borrower before you can receive your Federal Direct, Perkins or SELF loan(s).

Where do I complete my entrance counseling?

You can complete this entrance-counseling requirement at home, in the library, or in the residence hall anytime, by using the Internet.

Winona State is requiring all students to complete their entrance counseling online. If there is any problem with this, please give us a call: 507-457-2800.

How do I complete entrance counseling?

  • Please do entrance counseling for each loan you borrow. If you are borrowing from the Federal Direct, Perkins, and SELF loans you must complete three separate entrance counseling’s before aid can be disbursed. Entrance Counseling is different for each of these three loans.
  • Read the directions and click on each relevant loan.
  • Read each page of information and answer all questions.
  • After finishing the test, you will receive an online form to complete. Please provide all of the requested information, review it, and click “submit”. The information will be sent to WSU’s Financial Aid Office. Print the confirmation page or note your confirmation number for your records. If you have any questions, please call or stop by the Winona State Financial Aid Office: 507-457-2800 or 800-DIAL-WSU

SELF Loan Entrance Counseling
Federal Direct Loan Entrance Counseling
Perkins Loan Entrance Counseling

Direct Deposit

All students must have an accurate direct deposit authorization on record before any financial aid can be disbursed to your account.

Financial aid loans, scholarships and grants first pay your student account and then any overage is direct deposited to your personal bank account. You must be sure to confirm that funds are in fact in your account before attempting to use them. WSU cannot assume responsibility for your bank charges under any circumstances. If you are a new student, you will need to have your network user name and password, which is given to you when you receive your laptop.

If you are not required to have a laptop, contact the WSU Tech Support at 507-457-5240.

If you have any questions while filling out this form please call the WSU Student Accounts Office at 507-457-5075 or 800-342-5978 (ext. 5075).

WSU Direct Deposit Form