Understanding Your Financial Aid Offer
A Financial Aid Offer Letter is a notification you receive, informing you how much financial aid you may receive for school. In order to qualify for financial aid, you must first submit a Free Application for Federal Student Aid (FAFSA) or Washington Application for State Financial Aid (WASFA).
After you submit your FAFSA/WASFA and, if approved, your financial aid is calculated based on your Cost of Attendance (see COA below) and Expected Family Income (see EFC below). Based on that calculation, financial need for the academic year will be assessed, and where you will be given a financial aid offer. Students receiving financial aid offers will be emailed a communication to their WSU email address, forwarding them to their financial aid account in myWSU. Financial aid offers may provide various types of financial assistance:
- grants & scholarships
- Federal Direct Student Loans
- Optional Loans such as Parent PLUS and Private Loans
You will be notified by Student Financial Services when you are able to take actions on your loans.
Have you or a family member experienced unforeseen financial hardship?
If so, please visit our Special Circumstances page for possible financial aid options.
Timeline for Awarding
Timeline of financial aid offers
For the 2023-2024 awarding year, financial aid offers will reflect current year tuition and fees in the Cost of Attendance. Federal and state funds offered will also include current year values. WSU is still awaiting final decisions on tuition and mandatory fees along with final confirmation from state and federal aid providers on awarding levels for 2023-2024. Until WSU receives distributable aid, you cannot accept your 2023-2024 loans. Please check your WSU email and visit this page regularly, as we will be notifying students as soon as possible.
For the current 2022-2023 awarding year, as soon as your financial aid application file is complete, you will receive a notice of your financial aid offer via email communication.
Next Steps
Loans
**Please Note: Effective for the 23-24 academic year – accepting/declining of offered loans is now open! Visit our Accepting Loans page for more information and details about the process.**
Helpful Videos
Financial Aid Quick Guide
Types of Aid
State
Federal
Institutional
To be considered for these awards, students need to complete the FAFSA or (for undocumented students) the WASFA. Award amounts are determined by the EFC (expected family contribution) calculated from the FAFSA and WASFA.
External
There is also a general scholarship application which one can apply to in order to be considered for multiple scholarships in a single application.
Cost of Attendance
Cost of attendance is composed of direct and indirect costs. Direct costs are directly billed to the student, and are made up of:
- Tuition
- Mandatory fees
- Course fees
Indirect costs are costs that are based off of estimates and are not directly billed to the students. Instead they may vary off of individual circumstances and decisions. Indirect costs include:
- Housing
- Food
- Transportation
- School supplies
- Living expenses
Cost of attendance varies depending on what campus and program the student is enrolled in. Cost of attendance by year, campus, and program can be found on our tuition and expenses page.
Renewal Requirements
Some scholarships and grants are eligible to be renewed for following aid years. A list of scholarships and their terms and conditions with their renewal requirements for the 2023-2024 aid year can help you understand the renewal requirements for your award.
Glossary of Financial Aid Terms
Terms and concepts within the Financial Aid Process
**Items in BOLD have multiple items listed**
Academic Year
Cost of Attendance (COA)
The estimated total cost of attendance for attending an institution for one academic year. This amount may include the following:
- Tuition (Direct Charge) – Charges for one academic year of tuition based on residency, campus and assumed full-time enrollment.
- Mandatory Fees (Direct Charges) – Charges assessed for other college services (e.g. technology access, recreational center use, etc.)
- Room (Indirect Cost) – Estimated cost; Includes residence hall charges for on-campus students or an estimate of rent and utilities for an off-campus student
- Board (Indirect Cost) – Estimated cost; Includes the cost of a meal plan and/or an estimate of the costs of food prepared at home
- Transportation (Indirect Cost) – Estimated transportation and parking costs
- Books (Indirect Cost) – Estimated costs for books and supplies
- Miscellaneous (Indirect Cost) – Estimate costs such as personal hygiene, laundry, and reasonable entertainment, average loan fees
Department Fee Waiver Placeholder
Direct Costs
Educational Loans
A form of financial aid that must be repaid. The money borrowed is meant to finance post-secondary education or higher education-related expenses. Educational loans are intended to cover the cost of tuition, books and supplies, and living expenses while the borrower is in the process of pursuing a degree. Students generally are not required to pay back on their loans while attending college, with some students being able to defer their payments up to 6 months after graduation.
Federal Student Loans
Federal Direct Subsidized Student Loan
Federal Direct Unsubsidized Student Loan
Federal Direct Graduate PLUS Loan
Federal Direct Parent PLUS Loan (PLUS)
Private Loan
Enrollment Status
Estimated Financial Aid Offer
Expected Family Contribution (EFC)
FAFSA (Free Application for Student Aid)
Family Financial Responsibility (FFR)
Federal Pell Grant
Federal Supplemental Educational Opportunity Grant (FSEOG)
Federal Work-Study (FWS)
Gift Aid
Grants
Indirect Costs
Iraq and Afghanistan Service Grant (IASG)
Need
Net Price
Placeholder Awards
- A department or outside source sends funds directly to the Bursar’s Office to apply toward specific charges. Bursar’s Office sends notification to SFS and a placeholder award is added. SFS estimates the same amount for spring term but this is not a guarantee you will receive these funds. You will want to inquire with the awarding source to validate what your expected award is each term.
- You’ve notified SFS of Estimated Financial Assistance. SFS will account for these funds as a placeholder award.
- Work Study funding is awarded as placeholder funding noting the approved maximum amount of Work Study you are eligible for each term.