How to receive your financial aid
Financial aid available
- Autumn 2015 – September 30, 2015
- Winter 2016 – January 4, 2016
- Spring 2016 – March 28, 2016
Financial aid generally begins disbursing one week prior to the first day of the quarter. To have your aid disbursed, you must have been awarded and have accepted your aid, not have any holds on your aid, if you are borrowing loans have completed required entrance counseling and signed promissory notes, and are registered for the minimum required credits.
If these conditions have been met, aid will disburse first to your University student account to pay your tuition, U-PASS, late change and other university fees. If the amount of your aid is greater than the charges on your student account, the difference will be sent to your bank account via direct deposit.
If you are not signed up for direct deposit, an aid check will be automatically mailed to your local address on file. Please check your address information on MyUW and update it if necessary. Aid checks may take up to 10 business days to reach you by mail; signing up for direct deposit will allow you to receive your funds quickly and safely.
Signing up for direct deposit
The easiest and quickest way to sign up for direct deposit or to confirm your direct deposit status is through your Financial Aid Status under Student Finances in MyUW. If you are not able to access this site, contact Student Fiscal Services at firstname.lastname@example.org.
Clear all holds
If you have any holds on your aid, it will not disburse. If you have been asked to provide documents or information or have been told that the Financial Aid Office is reviewing your eligibility, follow up with them as soon as possible. You can tell what aid is available to you, what has been disbursed and whether or not there are any holds on your aid by using the Financial Aid Status service in MyUW under Student Finances.
Minimum credit load
You must be registered for a full-time credit load (12 credits for undergraduates and professional students; 10 credits for graduate students) in order for aid, except Stafford and PLUS Loans, to be disbursed. If you have been awarded aid as a less than full-time student see the Financial Aid Office for minimum credit load information. After the start of classes, if you drop below full-time enrollment, aid already disbursed to pay charges on your account will not be canceled; however, no additional aid will be disbursed to you. If you drop below full-time before the start of classes and aid has been disbursed to you, you will owe a repayment of aid.
Federal Student Loans (Stafford, Unsubsidized Stafford, Graduate PLUS, Parent PLUS, Perkins, or Health Professions/Nursing Loan)
If you are a first time borrower at the UW with a Stafford, Unsubsidized or Graduate PLUS loan, you will be required to complete Entrance Counseling before your loan can be disbursed. This can be done online at http://studentloans.gov.
Generally, new Federal Direct Stafford Loan program borrowers need to sign a master promissory note over the web at https://studentloans.gov/. You will need to login with your FSA Id to complete the note. Generally students who borrowed through the Federal Direct Stafford Loan Program last year and signed a promissory note will not be required to sign a new promissory note for a Federal Direct Stafford or Unsubsidized Stafford Loan this year. You are required to sign your promissory notes even if you expect your entire loan to be used to pay charges on your University account.
You can sign your master promissory note for the Perkins Loan and/or the Health Professions/Nursing Loan on the web in the Financial Aid Status section of MyUW.
Graduate PLUS (GPLUS)
Borrowers sign their promissory note online. If you borrowed a GPLUS in the previous year usually you do not have to sign a master promissory note again. Each year the government’s direct loan servicer performs a credit check. If your loan is approved, funds will disburse to your student account. If your credit is denied and you obtain an endorser for your loan, you will need to sign a master promissory note for each GPLUS loan that is endorsed.
If you want to make arrangements to receive a paper promissory note for your Federal Direct Stafford loan or Grad PLUS loan, please contact the Office of Student Financial Aid via email at email@example.com. If you wish to request a paper promissory note for a Perkins, or federal Health Professions / Nursing loan, contact Student Fiscal Services via email firstname.lastname@example.org, or on the live chat button on the Student Fiscal Services website.
Parent Loans (PLUS)
If you have been awarded a Parent Loan (PLUS), your parent borrower will need to complete a PLUS request and master promissory note. As part of the application process, a credit check will be completed. If your parent’s credit is approved, they will then complete a master promissory note on the same site. If their credit is denied, endorser options will be presented to them. More information on the Parent Loan process.
Parent Loans are disbursed to the student’s University student account to pay any charges. When completing the application, parent borrowers indicate whether any remaining loan proceeds should disburse directly to the student or to the parent. Loan proceeds disbursed to the parent borrower are sent automatically via paper check from Student Fiscal Services.
Pay your own tuition if your financial aid is late
Short term loans may be arranged through MyUW Personal Services. If your tuition is not paid by the end of the third week of the quarter, you will be charged a $120 late payment penalty.
How to pay charges on your University account
Please visit the Cashier’s Office website for options to pay tuition or other fees on your University account, including information about the tuition payment plan.
If you must withdraw from school
If you withdraw before the start of classes, you must repay any financial aid you have received. If you withdraw during the quarter, you may have to repay some of your aid. If you do not officially withdraw but fail to pass any classes, you will be considered to have unofficially withdrawn and may have to repay aid. A withdrawal may affect your future aid eligibility. Please see the Time Schedule or Withdrawal and Refund for information on refunds. Tuition refunds, in general, must be returned to the financial aid programs.