Click on a question below to read the answer:
My loan has not credited to my account. What do I do?
If you were recently awarded a Federal Direct Loan as part of your Winthrop University
financial aid package, there are 2 more steps to complete. All first time borrowers
MUST complete an entrance counseling session and sign a Master Promissory Note before the loan can be credited to your account.
Your Federal Direct Loan will not credit to your account until you have successfully completed the Entrance Counseling and signed the Master Promissory Note.
Your loans may be subject to cancellation if you do not complete the above items.
What is the current cost per semester to attend Winthrop University?
Go to the most up-to-date tuition and fees information.
What are the different types of financial aid that are available?
Need and merit are two major categories. Included in those areas are gift aid (grants) and self-help (loans and work study). Within grant assistance, there are Federal Pell Grant and supplemental grant programs and the South Carolina state grant program for South Carolina residents. These are based on financial need. Under the
category of loans and work study, there is the Federal Work Study Program and the Federal Direct Loan.
Yes, we have the Winthrop University Payment Plan! Some families prefer a monthly
installment plan. Winthrop offers an Equal Payment Plan with four payments each semester.
Information for this program is available through Student Financial Services. While interest is not charged for this program, there is a small fee per semester
for setting up your account.
When should students actually begin thinking about the financial aid process?
Many high schools have workshops on financial aid. As early as the junior year in
high school, students can begin gathering information. The fall semester of the senior
year would be the time to check out all of the academic and merit scholarships that
might be available from colleges and outside organizations. The actual application for need-based financial aid, the FAFSA, will be available after October 1 for the upcoming academic year.
FAFSA is an acronym for the Free Application for Federal Student Aid. This is the
form that students must complete to apply for need-based financial aid, regardless
of which school they plan to attend. More FAFSA information.
When should students fill out the FAFSA form?
Students cannot actually fill out the form until October 1 of each year if they plan
to enroll for the upcoming academic year. Most colleges have priority dates for submitting
the form. Winthrop's recommended date for submitting the FAFSA is no later than November
1.
What if students aren't able to complete the FAFSA by the November 1 deadline?
Although some financial aid programs have limited funds and these may have been committed,
students should still apply for financial aid.
How long after submitting the FAFSA should it take for students to find out how much
aid he/she might qualify for?
When completed and signed correctly, an electronic FAFSA goes into the federal processor's
database immediately. Application information becomes available to the schools you
have listed about one week later. Each school's processing cycle differs, but generally
speaking it will take a minimum of 2 weeks for an award to be processed.
If a student files the paper version of the FAFSA, it will take a minimum of four weeks to get a Student Aid Report and for the colleges to receive that information from the central processor. At that point, if a student has been admitted to the university, and if no additional information is required, it should take approximately two-three weeks for the Office of Financial Aid to send an award notification to the student.
If a student applies by November 1, our office would receive the information by mid-November, so it would be mid-November before the student would hear from the Office of Financial Aid.
What do students need to do once they receive notification of a student financial
aid award?
Notification of financial aid awards will be sent by e-mail to all students who have
provided e-mail addresses to the Office of Admissions or on the Free Application for
Federal Student Aid (FAFSA). Award notifications are sent to Winthrop e-mails. If
a Winthrop e-mail does not exist, it will be sent to the e-mail listed on the FAFSA
or Admissions application. Most awards are made for both the fall and spring semesters.
The e-mail notification will instruct students to log into Wingspan, the university's electronic communication system. Complete details on how to log
into Wingspan will be provided to students.
Students who receive e-mail award notifications may view, accept, or decline aid on Wingspan. Links are provided to detailed information on financial aid programs, student rights and responsibilities and other helpful information. Students should accept or decline aid within 30 days of the notice of award. Students who are awarded funds through loan or work study programs will receive additional information about these programs during the summer.
Must students repeat this process every year?
Yes, a student must submit an application for each academic year.
Often parents assume that their income level will keep them from qualifying for financial
aid. What is suggested for students in that category?
Apply for the first year. If interested in student loans, and all students are eligible
for student loans, then you must file the FAFSA, regardless of income.
How is applying for academic scholarships different from the process of applying for
grants, loans, and other federal aid?
Students are considered for academic scholarships based on the admissions application
and the information that accompanies it (Office of Admissions). Students are considered
for need-based aid based on the information they provide on the FAFSA (Office of Financial
Aid).
There are also outside types of aid that are available, but students have to do a little homework to apply for those. There are good sources available on the internet. Many high school counselors compile information for the areas they serve. There are also reference books available that are published by Peterson's, Lovejoy, and the College Board. All types of information are included in these books, and they are usually available in public libraries and school libraries.
South Carolina has a scholarship program for its residents called the LIFE Scholarship.
Can you tell me something about that?
The LIFE program is a scholarship available to South Carolina residents who meet
2 of the following 3 criteria at high school graduation:
Please remember that rounding of grades, scores, or rank is not permitted.
The award is up to $5,000 for students who plan to attend a four-year institution in state. The scholarship is renewable for students who keep a 3.000 cumulative GPA, without rounding, and earn 30 semester hours in college each year.
How do students apply for the LIFE Scholarship?
Students do not have to apply. The information provided on the admissions application
and the high school transcript will be used to determine eligibility.
Do transfer hours count towards my LIFE GPA?
Beginning with the 2006-07 academic year, the LIFE GPA must be calculated for all students for the purposes of awarding the LIFE Scholarship.
The LIFE GPA must include all grades and credit hours earned at any eligible institution
(in-state and out-of-state), including courses that do not transfer based on the institution's
policy and college courses taken while in high school. The LIFE GPA must not include
continuing education courses, non-degree credit courses for an associate's degree
or higher and remedial/developmental courses."
Students must continue to earn an average of 30 semester hours each year and a cumulative GPA (as defined in the above paragraph) of at least 3.000, without rounding, and meet all general eligibility requirements.
Eligibility for transfer students to receive LIFE Scholarship is not determined until all transcripts from all schools attended have been received and reviewed.
Eligibility to receive LIFE for students enrolled at Winthrop and continuing their enrollment will not be determined until all grades are posted at the end of spring term.
Reminder: Students will have two grade point averages, one calculated for LIFE Scholarship eligibility and one calculated by Winthrop for graduation purposes.
Can I be enrolled less than full-time and still receive my Academic or State Scholarship?
No. Recipients of Winthrop academic and/or State scholarships are required to maintain
full time (12 credit hours) enrollment. Failure to enroll full time will result in
the removal of the scholarship award. Students with documented disabilities on file
with the Office of Disability Services should notify the financial aid office prior
to enrolling in classes.
What other options are available if a student is not eligible for any type of need-based
aid?
Those students are still eligible for an unsubsidized direct loan. They would be
responsible for the repayment of the accrual of interest while they are in school.
But the interest rate is very modest on those loans.
Also, parents might be interested in applying for Parent Loans for Undergraduate Students (PLUS). Parents are generally eligible for loans up to the cost of attendance for the student minus any financial aid the student may receive. The interest rate is capped, and there is generally a ten year repayment period. Applications for PLUS loans can be requested through the Office of Financial Aid. Based on new legislation, parents are able to defer payments on a PLUS loan until after the student graduates.
Winthrop also has a payment plan available through the business office. The balance due for each semester would be divided into four payments that would be paid over the course of the semester. There is no interest charged, but there is a $30 participation fee per semester.
There are also jobs available on campus for students who would like a part-time job. The HR job posting website maintains a current list of jobs that are available.
I don't want to go into debt. Why should I take out a loan?
All federal student loans have low-interest rates, usually less than that offered
by banks, as well as options for low or graduated repayment amounts when you graduate.
A student loan is definitely an obligation, something you have to pay back, but it
is only one piece of the overall puzzle. Most students receive a "package" of aid
that is a balance of scholarships, grants, loans, and work-study. While you will
want to keep your loan balance low, you may need a loan to attend school.
I'm not getting any e-mails from the Office of Financial Aid. Why not?
If you have a 'spam' blocker protecting your e-mail account, you may not be able
to receive e-mails from the Office of Financial Aid. Please disable your 'spam' blocker
on your e-mail to allow Winthrop e-mails to arrive.
Is there a maximum amount of financial aid that I can receive?
Yes, students may not receive aid from all sources which would exceed the established
cost of attendance.
