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Financial Aid FAQs

Q:  How do I apply for Financial Aid? 

A:  The FAFSA (Free Application for Federal Student Aid) application can be found online at www.fafsa.gov.  This application is for all federal student aid including Pell Grants, Direct Student Loans, and Campus Based programs such as Work Study and Perkins Loan.

 

Q: What is Williston State College's school code?

A: The school code for Williston State College is 003007.

 

Q:  Do I have to re-apply for federal financial aid and scholarships each semester?

A:  No, your award notice that you receive in the fall covers both fall and spring semesters.  You must, however, re-apply for both during the spring semester for the following school year.  Priority deadline for the FAFSA is April 15th and for scholarships is March 15th.

 

Q:  What is the deadline for the FAFSA?

A:  Priority deadline is April 15th prior to the year of attendance.

 

Q:  Where do I apply for scholarships?

A:  Access the WSC website at http://www.willistonstate.edu and click on the following links: 
Future Students>Financing Your Education>Financial Aid>Scholarships>Stars Online.

 

Q:  What is the deadline for applying for scholarships?

A:  Priority deadline is March 15th prior to the year of attendance.  Applications will be accepted beyond this date if the online application is available.

 

Q:  What is an MPN?

A:  An MPN is a Master Promissory Note, which is the legal binding document for your Direct Student Loan.  Your completion of this document is a requirement before your student loan can be disbursed to you.

 

Q:  Where can I complete my MPN?

A:  You can complete this requirement at www.studentloans.gov.  You must use your four-digit PIN number from your FAFSA to login to this website.

 

Q:  Where can I complete my student loan counseling?

A:  You can complete this requirement at www.studentloans.gov.  If you are a first-time borrower, you will need to complete the Direct Loan Entrance Counseling in order to receive your first disbursement.

 

Q:  What is verification, and why do you need my tax information?

A:  Financial aid recipients are selected randomly by the Department of Education for review.  The Financial Aid Office is required to compare your FAFSA information with your IRS Tax Transcript to verify that the information is correct.

 

Q:  How do I accept the awards I have been offered?

A:  You may access your Financial Aid Awards through CampusConnection by logging in with your Student ID and password at http://www.willistonstate.edu.  Once you have logged in, click on "Student Center" and "Accept/Decline Awards", or if you prefer, you may return a signed copy of your paper award notice.

 

Q:  Do I have to be enrolled full-time in order to receive financial aid?

A:  No!   If you are Pell Grant eligible, the grant will be pro-rated based on your enrollment status.  You may even have eligibility for a Pell Grant at less than half-time (5 credits or less) status.  In order to receive a student loan, you must be enrolled at least half-time (6-8 credits).

 

Q:  Will I have to repay all of my financial aid if I withdraw from school?

A:  Once a withdrawal occurs, the Financial Aid Office is required to perform a refund/repayment calculation.  This calculation will tell you the amount of financial aid that must be repaid back to the financial aid programs or how much you might owe the school.  If you receive federal financial aid, usually the refund for tuition will need to go back to these programs.

 

Q:  When do I have to pay my student loans back?

A:  If you received a Subsidized Loan, you will start repayment 6 months after you withdraw, graduate, or fall below half-time status.  If you received an Unsubsidized Loan, interest payments are due quarterly.  The principal amount due on these loans will begin 6 months after you withdraw, graduate, or fall below half-time status.  If you received a Perkins Loan, you must begin payments 9 months after you withdraw, graduate, or fall below half-time status. 

 

Q:  What if my GPA falls below a 2.00?

A:  All students are required to maintain Satisfactory Academic Progress while attending college.  If your grades fall below this standard, or if you complete less than 66% of your credits attempted, you may be put on Financial Aid probation.  You will continue to receive financial aid during this probationary semester, although, if your progress does not improve, you will be placed on disqualification at which time financial aid is revoked.

 

Q: How is my financial aid applied and disbursed?

A: Once all the requirements are completed, your financial aid will apply to your student charges the day before student fees are due. If you have any excess aid, that will be disbursed three weeks after school starts in either the form of a check or direct deposit to your account on file. A direct deposit form can be found under Financing Your Education > Financial Aid > Online Applications.