FAQsLearning to manage your money better doesn’t mean you will have all the answers right away. Here are a few of the common questions about finances in your college years to help you get started.
If you are still wondering how to pay for college, you are welcome to contact Financial Aid at FinancialAid@winona.edu.
What is the process to apply for financial aid?
To begin applying for financial aid, you must complete the Free Application for Federal Student Aid (FAFSA).
If you do not complete the FAFSA, you won’t be eligible to receive federal grants, loans and many other types of aid.
Learn more about how to apply for financial aid and the next steps in the financial aid process.
Is there a deadline for applying for financial aid?
Technically, students have until the end of the award year to apply for financial aid. However, you should submit the FAFSA as soon as possible after Oct. 1 of the preceding year for priority consideration.
Students submitting the FAFSA after May 15 are considered late filers, and you may experience a delay in notification of your awarded aid and the disbursement of fall semester financial aid.
Please contact the Financial Aid Office directly if you are considering filing your FAFSA after the May 15 recommended deadline.
Do I have to include my parent's information on the FAFSA?
Dependent students must include their parent’s information on the FAFSA.
Here are resources to help you figure out whether you are a dependent or independent student.
How much do I owe in student loans?
How much do I owe for my semester bill?
Students can review the details of their student bill on e-services by clicking on the “Bills and Payment” tab and then “View Account Detail”.
How much should I borrow in student loans?
The amount you should borrow depends on your unique financial situation. As a general rule, you should try to minimize the amount you take out in student loans because you will have to pay more in interest over the long term.
First, understand your total cost of attendance. Then look into grants, scholarships, work study, personal savings and family contributions to help pay for your education. This will give you a better idea as to whether or not you need to take out a student loan.
Learn more about ways to determine how to pay for college.
Is there a limit to how much I can borrow in student loans?
Yes, students are limited in how much they can borrow each year from the federal government. There are also limits on how much you can borrow throughout your entire college career.
Learn more about federal student loan limits.
Can I receive financial aid if I live off campus?
Yes, students who live off campus are eligible to still receive financial aid.
Once your tuition bill has been paid off, any remaining financial aid can be deposited into your bank account. You are able to use this aid to pay for off campus living expenses such as rent, food, books, transportation etc.