Financial Aid and Scholarships
Applying for Financial Aid
In order to be considered for financial aid, students must take the following actions.
- Students must complete and be accepted
- Students must complete and submit the Free Application for Federal Student Aid (FAFSA) at studentaid.gov/FAFSA. The FAFSA must be submitted annually.
First time borrowers must also complete Student Loan Entrance Counseling and the Master Promissory Note at studentaid.gov/
- Students interested in Financial aid for summer must complete a Summer Aid Application, which is available in March and available on the Financial Aid Office's Student Forms webpage.
Teach Grant
The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program provides grants of up to $4,000 per year to students who intend to teach in a public or private elementary or secondary school that serves students from low-income families. As a recipient of a TEACH Grant, you must teach for at least four academic years within eight calendar years of completing the program of study for which you received a TEACH Grant. IMPORTANT: If you fail to complete this service obligation, all amounts of TEACH Grants that you received will be converted to a Federal Direct Unsubsidized Stafford Loan. You must then repay this loan to the U.S. Department of Education. You will be charged interest from the date the grant(s) was disbursed. To receive a TEACH Grant you must meet a number of student eligibility requirements. Please contact the WLU Financial Aid Office for additional information.
Federal Work Study
An employment opportunity that is awarded through financial aid, based on the student's FAFASA to students showing financial need based on fund availability. Students apply for available positions through the Handshake system, which is linked form the Financial Aid Office's student employment webpage. The student receives a paycheck every other week according to the WLU payroll schedule. The usual workload per week varies from five to 20 hours. The work-study award is not applied to the student’s bill.
Federal Direct Loan Program
The federal direct loan program is available to students who complete a FAFSA and are enrolled in at least half-time in a degree or certificate program. Students must also meet the general eligibility requirements for federal student aid. The maximum loan amount for a graduate student is $20,500. Effective loan interest rates can be found at studentaid.gov. Repayment of the interest and principal begins six months after graduation or after half-time enrollment ceases. A Student Loan Entrance Counseling and Exit Counseling are also required for any student receiving a federal direct Loan. To apply for a federal direct loan, students must complete the FAFSA online at studentaid.gov/FAFSA. Entrance and Exit Counseling must be completed online at studentaid.gov.
Federal Direct Graduate Plus Loan
A federal direct graduate PLUS is a credit based federal loan program available to graduate or professional students . A Graduate PLUS Loan can be applied for at studentaid.gov. The loan amount is determined either by request or by the eligibility remaining towards the student’s cost of attendance. A credit check is required and will be processed by the Direct Loan Service. US Department of Education Effective loan interest rates can be found at student aid.gov. Student receive an automatic deferment while they are enrolled in a school at least half time, and for an additional six months after graduation, leaving school or dropping below half-time enrollment. Students do not have to start making payments until after this deferment period ends. During the period of deferment, interest will accrue on the Graduate PLUS loan. Students may choose to pay the accrued interest or allow the interest to be capitalized when they start making payments.
Scholarships
Some scholarships are awarded by various departments of the university on the basis of students’ majors and/or special abilities. More details can be found on the individual college websites.