The first day of classes is right around the corner, and the WSU Student Financial Services (SFS) office would like to make sure you and your student take the steps needed to begin this semester with the right foot forward!
Fall Financial Aid Timeline:
- August 9th Tuition and mandatory fee charges post to students’ accounts
- August 12th Housing charges post to students’ accounts (if applicable)
- August 19th Financial Aid disburses to students’ accounts
- August 21st Financial Aid Direct Deposit refunds sent to students’ banks (if applicable)
- August 24th
- Classes begin
- Financial Aid paper refund checks mailed to students
- Fall Semester tuition is due
- September 8th First Late Fee will be charged at 3% if tuition and mandatory fees are not paid in full at the end of the business day
- September 22nd Second Late Fee will be changed at 5%
- October 6th Third Late Fee will be charged at 7%
Parent PLUS Loan:
The Parent PLUS Loan (PLUS loan) is a form of financial aid which enables parents or step-parents (but not legal guardians or grandparents) to borrow up to the total annual cost of the student’s undergraduate education, minus any other aid the student may be receiving in the form of grants, scholarships, waivers, or other direct loans, such as the Subsidized or Unsubsidized loans. Unlike other forms of aid, the PLUS loan is not based on the family’s income or asset information but rather the parent’s credit history. This means that the parent applying can either be approved or denied depending on their credit history. You can find the complete process for how to apply for the PLUS loan on the SFS website. Once the PLUS loan application has been completed, the Department of Education will do a credit check. It can take up to five business days to receive the credit decision from the Department of Education. The parent borrower receives an email from the Department of Education, and from WSU, on the status of the credit decision. If approved, the PLUS loan Master Promissory Note must be completed by the parent borrower on studentloans.gov before aid begins to disburse on August 19, 2015. If denied, the communication received will explain the next steps and other options available to your student.
Since the PLUS loan and other student loans are long term commitments, we highly encourage parents to be well informed on the various types of loans offered while also comparing alternatives provided by outside loan lenders. By doing so, you and your student can make sure you choose the loan that best fits your needs.
Third Party Access:
Third Party Access (TPA) is a way for students to authorize parents, or another third party, to access their official WSU record, including account balances, financial aid, class schedules, grades, and more. TPA is granted by your student through myWSU, formally known as zzusis.
As a parent of a first time student, you may have previously been given access to your student’s records without needing TPA from your student, however under FERPA guidelines starting August 24th, the first day of classes, a Third Party Authorization Code will be required from you before Student Financial Services is able to share any detailed information regarding your student’s account. This means that in order to access or discuss your student’s financial aid status in detail, under FERPA, your student must grant you Third Party Access.
Our office does encourage active parent involvement however, like many other aspects of the university experience, college is intended for personal development and we strongly encourage that the student be the principle manager of their finances, budget, and the financial aid process. For this reason we recommend parents and students have a conversation before the first day of school about Third Party Access.
Your student can grant you TPA by going to >Main Menu> Self Service> Third Party Access. To see step by step video instructions on granting Third Party Access, click here.
Schedule an appointment with SFS:
To increase efficiency and provide better service, Student financial Services asks students to make an appointment to meet with an advisor rather than dropping in. To make an appointment with SFS, your student can visit the finaid.wsu.edu click on FinAid scheduler (located in the center of the page), log in using their WSU Network ID and password, and click on the date and time that best fits their schedule. When the date of their appointment arrives, your student will check in at the front desk and then be directed to a counselor. By making an appointment we can assure students will have plenty of time to meet with a financial aid advisor to answer any questions they may have regarding their financial aid award.
Appointments can also be made by parents with help from their student. Since Third Party Access will be required for the parent starting August 24th, please set-up that access if you would like to meet with an advisor without your student’s presence or at any time you would like specific information regarding your student’s account.
Student Financial Services is here to help. If you have any questions, please contact the office Monday through Friday from 8 a.m. to 5 p.m. by calling 509-335-9711 or emailing email@example.com. You can also schedule an appointment to meet with an SFS advisor at WSU Pullman, Monday through Friday from 8 a.m. to 4 p.m. by visiting finaid.wsu.edu. Please follow our social media outlets for timely updates and information: Facebook, Twitter, and Instagram.