W E S T E R N I L L I N O I S U N I V E R S I T Y
H I G H E R V A L U E S I N H I G H E R E D U C A T I O N
Financial Aid Programs Financing your educational costs should begin in the high school counselor’s office or the college Financial Aid office. There, professionally trained financial aid advisors will help you meet your financial needs through a variety of programs and services. Visit wiu.edu/fa regularly for the latest financial aid news.
Financial aid programs are funded by the federal and state governments: Federal Programs • Pell Grant • Supplemental Education Opportunity Grant (SEOG) • TEACH Grant
• Federal Work-Study • Federal Direct Loans • Parent PLUS Loan
State Programs • Monetary Award Program (MAP) Grant • Numerous grants and teacher scholarships (ISAC.org); may require additional application
Financial aid “packages” may come from many different sources: • Grants – Awards that do not need to be repaid. These funds are credited to a student’s account. • Scholarships – Awards based on academics or a merit-based skill or talent. Financial need is usually not a factor, and scholarships usually do not need to be
repaid. • Student Employment – Jobs are available for students on campus. The Federal Work-Study program offers jobs to financially eligible students. Other part-time
jobs are available both on and off campus, regardless of financial need. • Loans – Loans are a flexible means of financing a college education. Borrow only the amount necessary. All or a portion of the loan can be cancelled at any
time by contacting the Financial Aid office.
Financial Aid Process The financial aid process can be divided into the following:
• Application Process – After a student has filed the FAFSA at fafsa.gov, the Student Aid Report (SAR) will be sent to the student by the federal processor. Review the information on this form. If all information on the SAR is correct, keep it in a personal file for reference. If incorrect, make corrections at fafsa.gov.
• Review Process – The application is reviewed by the Financial Aid office after the student is accepted for admission. If any follow-up is needed, correspondence will be e-mailed to the student’s WIU e-mail account.
• Award Notification – An electronic notification is sent to the student when the award letter is posted on STARS at wiu.edu/STARS.
Financial Aid Financial Aid Office, Division of Student Services
W E S T E R N I L L I N O I S U N I V E R S I T Y
ACADEMIC EXCELLENCE • EDUCATIONAL OPPORTUNITY • PERSONAL GROWTH • SOCIAL RESPONSIBILITY
• Loan Processing – Borrow only the amount needed. Please note that you may cancel a loan at any time prior to disbursement. A master promissory note and entrance counseling must be completed by all new borrowers at studentloans.gov.
Financial Aid Dos & Don’ts DO . . . • Obtain an FSA username and password. If you are required to provide parent information on the FAFSA, your
parent will also need an FSA username and password. • File your FAFSA as soon as you can on or after Oct. 1. Apply online at fafsa.gov. Many state- and federal-based
financial aid programs operate on a first-come, first-served basis. Funds are limited, so apply early. • List Western Illinois University on the FAFSA. Western’s school code is 001780. This will guarantee your financial
aid package is put together quickly by Western’s professional financial aid staff.
DON’T . . . • Forget to list the state of residence for you and your parents on the FAFSA. For Illinois residents, this will guarantee
consideration for the Illinois-based Monetary Award Program (MAP) Grant. • Procrastinate. Act on all opportunities for aid. Check your local library, high school guidance counselor’s office, or
community college financial aid office for resources. • Forget to use the Financial Aid homepage wiu.edu/fa to read the latest financial aid news, and to access the
scholarship search program—Fastweb.
Scholarships Western provides scholarships to academically talented students. Most scholarships are awarded to students enrolled as majors in specific academic departments and colleges. Recipients of these awards are selected by their respective academic departments or by the Western Foundation Scholarship Committee. For more information about scholarships, contact the Scholarship Office via email at SC-Office@wiu.edu. Additional information can be found at wiu.edu/scholarship.
Types of Loans Federal Direct Loan • Subsidized – Awarded on the basis of financial need. The federal government pays the interest on the loan, or “subsidizes” the loan, until the borrower begins
repayment and during authorized periods of deferment. • Unsubsidized – Financial need is not a factor. Interest accrues during enrollment, but the borrower is not required to make payment until repayment begins
(following graduation or dropping below half-time—fewer than six credit hours).
Maximum eligibility for federal direct loans is determined based on academic status. Freshmen are eligible for up to $5,500 ($3,500 of which can be subsidized); sophomores are eligible for up to $6,500 ($4,500 of which can be subsidized); juniors and seniors are eligible for $7,500 ($5,500 of which can be subsidized).
Parent PLUS Loans • The Parent Loan for Undergraduate Students (PLUS) is federal loan in the parents name. A parent with good credit history may borrow money to pay the
education expenses of each child who is a dependent undergraduate enrolled at least half-time (six or more credit hours). • The yearly limit of this loan is equal to the cost of attendance minus any financial aid the student receives. For example, if cost of attendance is $6,000 and
$4,000 is received in financial aid, parents can apply for a Parent PLUS loan for up to $2,000.
After College Students who receive funds from Federal Direct Loans and withdraw or graduate from Western Illinois University must complete exit counseling. Exit counseling can be completed online at studentloans.gov.
Students who borrow a Federal Direct Loan will have their loan information submitted to the National Student Loan Data System (NSLDS). Track loan debt online at nslds.gov.
We Are Here to Serve Western Illinois University is an interactive public university that serves more than 8,000 students. Along with its core values, Western recognizes the needs of the region, state and society. WIU plays a significant role in cultural, economic and educational developments within the community and the state.