Financial Aid Process
As you continue your education, it is likely that financial aid will play a key role in helping you achieve your educational goals. Thus, it is important that you understand the process of applying and accepting your financial aid.
Here is a general overview of the financial aid process at Winona State University.
Apply for Financial Aid
The Free Application for Federal Student Aid (FAFSA) is the only application WSU requires for federal and state financial aid programs.
Complete the FAFSA as soon as you can to avoid any delays in receiving aid. WSU’s school code is 002394.
If you wish to apply for any scholarships, get started on those applications as well.
Accept Your Awards
WSU will send you an award letter detailing the types and amounts of aid you are eligible for. If you wish to take any student loans you’ve been offered, you must go online to officially accept them.
Scholarships and grants are already accepted for you by the Financial Aid Office since these types do not have to be repaid.
Receive Funds and Pay Your Bill
The Financial Aid Office will begin disbursing your financial aid in the first week of the semester. Depending on the type of aid, funds will be applied directly to your student account or deposited in your personal bank account.
If financial aid doesn’t cover your entire bill at WSU-Rochester, additional payments will be necessary. Please review the WSU payment procedures. An extended payment plan is available.
Repay Student Loans
If you took out loans as part of your financial aid package, you will have to repay that money with interest.
While certain types of federal or state loans will require interest payments while you in school, others don’t require any payments until you:
- drop below half-time enrollment
- leave school
Complete exit counseling to learn about repayment options and processes.