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Financing Your Education

Financial Aid Terms
Other Financial Aid Website
Additional Scholarship Information
Paying Your Fees

Most students finance their education from a combination of funding sources: family resources, work (whether on or off campus), federal and state grants, scholarships, and low interest student loans.

To qualify for financial aid administered by any institution you must (1) be an admitted student; (2) be in good academic standing; and (3) be making adequate progress toward your degree. Understanding the following terms may make the process of applying for financial aid easier.

Financial Aid Terms to Know

    Financial Aid

    Financial aid typically refers to federal monies such as Pell grants, Stafford and Perkins loans, and the College Work Study Program. The amount of aid is determined by the difference between the cost of your education and the amount you should be able to contribute from your resources to fund your education.

    FAFSA

    Free Application for Federal Student Aid is the form you complete annually to determine the amounts and kinds of aid you qualify for. Pick up an application in the Financial Aid Office, Schofield 115 or apply online at www.fafsa.edu.gov

    SAR

    After you submit the FAFSA you will receive, via postal mail or email, your SAR (Student Aid Report).  The Financial Aid Office also receives a copy of this report electronically and uses the information to determine the kinds and amount of aid you qualify for.  They will then send you a Financial Aid Award Form.

    Scholarships

    Scholarships are monies available from private sources. You must apply for these separately from your FAFSA.

    Grants

    Grants are state and federal aid that, like scholarships, you do not have to repay. You may or may not receive a grant as part of your financial aid package. These are based on your income and other information reported on your FAFSA.

    Loans

    This is money you pay back at a low interest rate after graduation. You may or may not be offered a loan as part of your financial aid package.

    Work Study

    This is on-campus employment for which you receive a bi-weekly paycheck to be used for any expenses.

    Veterans Benefits

    Money paid to military veterans for education expenses.  See the section on the Veteran’s Services Office for more information.

    The Financial Aid Office maintains a number of publications and resources for you to research possible funding sources.  Check out the UW-Eau Claire financial aid homepage at:  www.uwec.edu/finaid/   to fill out a “Financial Aid Estimator”.  Meet with a financial aid counselor, Schofield 115, (715-836‑3373) for more information or to explain any special circumstances your family has that could not be addressed on the FAFSA.  Remember, students must make satisfactory academic progress to continue to receive financial aid.

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Other financial aid websites include:

National Scholarships
Here are some of the best on-line scholarship search engines:
http://www.fastweb.com

http://www.finaid.org

http://www.collegenet.com/mach25/

http://www.collegeboard.com/paying/

http://www.salliemae.com/

http://www.xap.com/getmoney/scholarship/

http://www.petersons.com/

http://www.studentjobs.gov/d_scholarship.asp

http://www.scholarships.com/


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Additional Scholarship Information

A scholarship is usually awarded for outstanding academic achievement; some are also based on financial need. Scholarships can be awarded from a number of different sources but there are two main categories:

A. UWEC Foundation Scholarships: A detailed description of these scholarships is available in the UWEC Scholarship Manual available in the Financial Aid Office and on the Financial Aid Office website.

B. Private Scholarships: Private scholarships are offered by many organizations and individuals. Inquire at the Financial Aid Office to review a number of publications and resources they maintain for student use or the NSS website: http://www.uwec.edu/advising/nss/scholar.htm.

Also....don't forget to check with employers, organizations, credit unions, and churches of which you are a member; they sometimes offer scholarships or tuition reimbursement as well.

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Paying Your Fees

The class schedule that you receive via email after you register will have an estimated bill. If you are registering during priority registration, this bill will NOT include your financial aid. You will receive a correct bill with your financial aid near the start of the semester.

  • To avoid finance charges, you must pay your entire bill approximately four weeks after the start of the semester. For exact dates, see http://www.uwec.edu/bussvs/busoff/billSchedule.htm
  • If you cannot pay your entire bill, you must pay at least 50% at the first due date to avoid a finance charge.
  • The final payment is due approximately 8 weeks after the start of the semester. A 1% finance charge is assessed on any amount due after the first deadline. In addition, if you did not pay 50% by the first deadline, an administrative fee will be assessed.
  • You can receive money back if you drop below full time, or as a part time student, decrease the number of credits you are taking, within the first four weeks of classes. See http://www.uwec.edu/bussvs/busoff/refundOver.htm for details.

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