The U.S. Dept. of Education’s office of Federal Student Aid (FSA) provides more than $150 billion in grants, loans, and work-study funds each year to help pay for college or career school. As you know, completing the FAFSA® (Free Application for Federal Student Aid) is a primary step in determining eligibility for federal student aid. FSA is asking for your assistance in promoting FAFSA completion through your social media channels. To help you do that, we have developed some resources for you to use.
To apply for federal financial aid, you need to complete the steps listed below. It is important that you complete these as quickly as possible so your financial aid will be in place before classes begin.
- Complete the Free Application for Federal Student Aid (FAFSA) – WATC school code = 005498.
- Complete the Student Data Form online.
- Complete and turn in any other documents the Financial Aid office requests in a timely manner.
TYPES OF FINANCIAL AID
Pell Grant — A federal grant that is awarded based on need. To determine eligibility, students must complete the FAFSA. This is money that in most cases does not have to be paid back.
Direct Loans — A Federal Direct Loan is a loan that must be repaid. Students must be enrolled in at least six credit hours per semester to receive these loans. To determine eligibility, students must complete the Free Application for Student Aid at www.fafsa.ed.gov. Contact Financial Aid, 316.677.9400, for more information about these loans.
Parent Loan for Undergraduate Students (PLUS) — A PLUS loan is a loan a parent can apply for to help with their child’s educational costs. This loan must be repaid and is the parents’ responsibility. To determine eligibility, parents must go to www.studentloans.gov, to complete the PLUS application and pre-approval. If you need assistance, please contact the Financial Aid Office at 316.677.9400.
Private Loans – Private loans are another option for students who need assistance. Private educational loans are approved/denied based on the student’s credit score. It is highly suggested that the student apply with a cosigner. The private education loan options for students at WATC are listed below; however, students may also apply with any other private loan company or bank they wish to use. Please contact the Financial Aid office at 316.677.9400 with questions.
Paying Back Federal Student Loans
WATC offers program specific scholarships. Along with institutional scholarship; WATC is pleased to offer industry supported scholarships from Airbus, Delta Dental, Grainger, Snap On Industries, Soroptimist, Spirit Aerosystems, and more. You can view and apply for WATC scholarships at watc.edu/admissions/paying-for-college/scholarships/.
The state of Kansas currently has many scholarship opportunities for WATC students including the Kansas Vocational Scholarship, the Nursing Service Scholarship, and the Kansas Ethnic Minority Scholarship. You can also search the National Scholarship Database: www.fastweb.com/.
RECEIVING YOUR FINANCIAL AID
When will I receive my financial aid?
Your financial aid funds will be disbursed (transferred to your student account) on your specified disbursement date(s). Typically there are two disbursements for a student attending both fall and spring semesters — one in the fall and one in the spring. These disbursements usually occur 30 days after the first day of class for that semester. If a student only attends one semester in the award year, their first disbursements will occur 30 days after the first day of class, and the second will occur at the midpoint of the semester. To find out what your exact disbursement date(s) will be, please contact Financial Aid, 316.677.9400.
Will I receive a check in the mail?
All financial aid will be applied to the balance of your student account first (tuition, fees, etc.). However, if the amount of your financial aid is greater than the total of your charges, you will have what’s called a credit balance. The business office will mail any credit balance to your address within 14 days after financial aid transfers your funds to the business office.
Example 1: Your total charges are $3,000, and your total financial aid award is $2,000 — you owe $1,000.
Examples 2: Your total charges are $3,000, and your total financial aid award is $5,000 — you have a credit balance of $2,000, and this amount will be mailed to you.