Do you have a financial plan ready for this upcoming semester? Be sure to meet priority
deadlines, complete the 2425 FAFSA form, and make it part of your plan to visit with
our team for your financial success.
By now, you have received your financial aid offer. We've gathered some helpful information
for you to break it down into understandable pieces so you can plan and budget for
college costs.
Financial Aid Offer
Financial aid is a combination of awarded or loaned money to students and/or their
families to pay for educational expenses. It includes scholarships, grants, work-study
employment, and loans. We determine your eligibility for financial aid from a number
of factors, not just your income. These factors can include your grade level in college,
your chosen degree program, your residency, where you plan to live while in college,
and whether you intend to enroll full time or part time.
Due to the number of corrections by the U.S. Department of Education during the 2024-25
aid year, your aid offer is a tentative offer and is subject to change.
This section is made up of discounts you may qualify for at 萝莉社 based on
meeting certain requirements (i.e. Shocker City Partnership is based on the county
you live in). Discounts are listed by semester and are initially based on estimates.
Official discount rates are typically finalized in July before school begins. On your Financial Aid Dashboard, tuition discounts and outside scholarship resources
can be viewed at the bottom of the Offer tab under "Other Resources." More information about tuition discounts is available at wichita.edu/tuitiondiscounts.
This program gives students an opportunity to earn money while earning a degree at
萝莉社. This is an estimate of your eligibility, not a guaranteed award amount.
Students can begin searching and applying for campus jobs at .
To be considered for work study at 萝莉社, you must complete the FAFSA by our
early application priority date (2024-2025: March 1, 2024) and have financial need.
This type of financial aid requires repayment but can be used to assist in paying
your Cost of Attendance of studying at 萝莉社. Loans are limited by grade level
and your dependency type (dependent or independent) and must be repaid over time.
More information about the different types of loans is available at wichita.edu/studentloans.
These options are available for you to consider to assist in meeting your costs at
萝莉社. Whether your parent decides to borrow a loan on your behalf, or if
you choose to set up a payment plan, you have options.
Sample Aid Offer, 萝莉社 Office of Financial Aid & Scholarships
Cost of Attendance
The total of estimated Billed Costs and Other Costs to Consider equals the total estimated
Cost of Attendance.
Billed Costs are estimated charges that will be issues from 萝莉社 directly (i.e., Tuition
& Fees and On-Campus Housing & Food).
Other Costs to Consider will not show up on your billing statement. They reflect the other educational expenses
you might have for school and living (i.e., Books & Supplies, Transportation & Personal
Expenses, Off-Campus Housing & Food, and Loan Origination Fees).
Net Costs After Financial Aid
This section includes an estimate of your remaining billed costs minus your financial
aid (excluding work study).
An estimated cost greater than zero indicates you will need to consider additional options to meet your costs, such as
you or your family's savings, a payment plan, or additional private or parent loans.
An estimated cost less than zero (negative number) indicates you will have excess financial aid after your billed costs, which will result
in a refund. Students generally use these refunds to assist with the cost of books,
transportation, and other educational expenses.
Here are a few tricks of the trade to help prepare you for your first year at Wichita
State. These tips have been invaluable to first-year students and will set you up
for a successful and well-planned first year.
Use your summer job to save at least $1,250 for books and supplies.
If borrowing loans, only accept what you need. After all, they eventually have to
be paid back.
Begin thinking about if you're planning to work part-time while you're in college.
Consider how much you can save or put toward your college costs. This planning will
give you a more complete picture of your personal budget. Apply for campus jobs at
.
Check out scholarship opportunities at wichita.edu/scholarshipuniverse. The site includes internal 萝莉社 scholarships as well as regional and national
scholarships from outside organizations. 萝莉社 students earn over $2.5 million
in outside scholarships every year!
Official tuition and fee rates will be available in July, and your specific charges
may vary based on your enrollment and housing choices. Beginning in July, your official
billing statement for tuition, fees, and housing (if applicable) will be available
on the Student Account Suite within your my萝莉社 portal.
What To Do Next:
Consider your aid offer and decide what financial aid you plan to accept and how much.
Each summer, the Kansas Board of Regents approves, for each state university, the
actual tuition and fees, as well as on-campus housing rates for the new academic year.
Since this has not yet taken place for the 2024-2025 academic year, the costs shown
are based on the current 2023-2024 academic year. The estimated cost of attendance
assumes full-time enrollment for fall and spring semesters, and reflects the typical
expenses for students with your same residency and major. Actual expenses will depend
on your individual choices. Estimated costs can help you plan your own budget.
Certain scholarships have a May 1 acceptance deadline. Additionally, some aid programs,
such as the Merit and Incoming Student Scholarships, Shocker Promise, Kansas Comprehensive
Grant, the Federal Supplemental Educational Opportunity Grant, and Federal Work Study
require that you enroll by June 1.
Tuition discounts and waivers are shown at the bottom of the Financial Aid Dashboard
on the Offer tab under the "Other Resources" section. The items listed there are estimates
based on full-time enrollment. Once tuition and fee bills are available in mid-July,
you can view your discounts and waivers on your bill through the Student Account Suite
in your my萝莉社 portal.
No. You do not have to take the full amount of loans offered to you. You may accept
all, none, or elect to only take a portion of the total offer. Borrowing a loan for
your education is an investment in your future. However, it is important to only borrow
what you need to cover your expenses and ensure you have the ability to repay it.
Yes, in most cases. If needed, you can later revise your decision about student loans
during the semester and borrow up to the remainder of your loan eligibility for that
semester. You can submit a Financial Aid Revision Request online through your my萝莉社
student portal under the myFinances tab. Please be aware all requests to modify a
student loan will need to be made prior to the last day of classes for the semester.
Yes. To be eligible for financial aid at 萝莉社, you must meet certain federal,
state, institutional, and program requirements and you are responsible for reading, understanding, and agreeing to these terms and conditions
before accepting your offer. More information about financial aid policies is available
at wichita.edu/finaidpolicy.
There鈥檚 no magic formula to have all the answers. Preparation will differ from family
to family, but we highly recommend families begin and continue discussions about each
person's contributions to the costs. Use the estimates included in the aid offer as
a baseline for early discussions and plans. Then review your specific tuition and
fees bill when it becomes available in July to finalize your decisions.
Changes in finances due to a reduction in income, a change in marital status, death
of a parent/spouse, or other special circumstances may greatly impact a family鈥檚 ability
to pay for college. The Department of Education allows financial aid administrators
to use Professional Judgment on a case-by-case basis to make adjustments to the data
used in calculating the estimated family contribution (EFC) to reflect these special
circumstances.
If your family is experiencing financial issues (such as the loss of a job, reduction
of income, or other extenuating circumstance) and would like to discuss financial
aid options and information about the process of a Professional Judgment for the next
academic year, schedule an appointment to meet with a financial aid advisor at .
Yes, absolutely! We are available for in-person, virtual (Zoom and Teams), and phone
appointments. You can set an appointment through Navigate with a financial aid advisor
at wichita.edu/finaidappt.
Your financial aid offer is unique to you and was developed according to federal,
state, and institutional regulations. All offers are based on available funding levels
and are subject to change. Due to the number of corrections by the U.S. Department
of Education during the 2024-25 aid year, your aid offer is a tentative offer and
is subject to change. 萝莉社 retains the right to revise, cancel, or withdraw
offers if we are notified of additional aid resources for you or if aid is not accepted
by the deadlines of each aid program. See wichita.edu/finaidpolicy for details.
Glossary
Financial Aid Offer: A financial aid offer is a document sent by a postsecondary institution to a student
that outlines the amounts and details of the financial aid being offered to the student,
which may include scholarships, grants, loans, employment, or other forms of financial
assistance to pay for college expenses. Sometimes schools refer to these as financial
aid 鈥渁wards鈥�, although this term is outdated. Schools should refer to these as financial
aid offers.
Cost of Attendance: The Cost of Attendance consists of the sum of educational costs payable to the school
(also referred to as direct or billable costs) and costs paid to others (or indirect,
non-billable or discretionary) costs. The Cost of Attendance represents the highest
dollar amount of financial aid a student can receive during an award year.
Costs Paid to Others: Costs paid to others(also referred to as indirect, non-billable, or additional costs),
are other expenses not paid directly to the school, but associated with receiving
an education. These expenses are estimated by the school and may differ from student
to student based on their individual circumstances. These expenses may include books,
course materials, supplies, equipment, transportation and parking, personal expenses,
childcare costs, computer costs, disability expenses, licensure expenses and off-campus
rent and food.
Costs Payable to the School: Costs Payable to the school (also referred to as direct or billable costs) generally include tuition, fees, housing,
and meals/food (for students residing on campus), health insurance (if minimum insurance
coverage is not documented), or any other expenses paid to the school for enrollment.
Educational Loan:Money borrowed from the federal government, a college or university, or a private
source like a bank or financial institution to pay for educational expenses and must
be paid back with interest.
Federal Loan: Also known as the Direct Loan Program, which allows eligible students and parents
to borrow directly from the U.S. Department of Education at participating colleges
or universities. Federal student loans include Direct Subsidized, Direct Unsubsidized
and the Direct PLUS programs for parents of dependent students and graduate or professional
students.
Federal Direct Subsidized Student Loan:A Direct Subsidized Loan is an undergraduate federal student loan based on financial
need and offers students a reduced, fixed interest rate and flexible repayment terms.
Interest is subsidized, meaning it does not accrue to the borrower, while in an in-school,
grace, or deferment period. Annual and aggregate limits apply.
Federal Direct Unsubsidized Student Loan: An unsubsidized loan offers students a fixed interest rate and flexible repayment
terms. It is not based on financial need. Interest begins to accrue when the loan
is disbursed and can be paid while the student is enrolled or when loan repayment
begins. Annual and aggregate limits apply.
Federal Direct Graduate PLUS Loan: Direct Graduate PLUS Loans are federal loans that graduate or professional students
use to help pay for education expenses. A credit check for adverse credit history
is required for eligibility. Interest begins to accrue when the loan is disbursed
and can be paid while the student is enrolled or when loan repayment begins.
Federal Direct Parent PLUS Loan: Direct Parent PLUS Loans are federal loans that parents of dependent undergraduate
students can use to help pay for education expenses. Parents must pass a credit check
for adverse credit history to qualify for PLUS loans.
Private Loan: A student or parent loan from a bank, credit union, private company, a nonprofit or
state-affiliated lender, or from the college or university directly to pay for educational
costs. Interest begins to accrue when the loan is disbursed, and repayment begins
while the student is still enrolled in school.
Enrollment Status: The number of credits, clock hours, or classes the student is enrolled in, or whether
they have withdrawn, graduated, etc. Enrollment status affects eligibility for and
the amount of financial aid a student may receive. It also affects when student loans
enter repayment status.
Federal Pell Grant: The Pell Grant is a federal grant program designed to assist undergraduate students
in low- and moderate-income households to pay for college. The award amount is based
on the cost of the institution, SAI, and enrollment status, and is subject to an aggregate
limit.
Federal Supplemental Educational Opportunity Grant (FSEOG): A federal grant provided by the institution to qualified undergraduate students who
demonstrate exceptional financial need and does not need to be repaid. The amount
of funding from this program varies by institution.
Federal Work-Study (FWS): Federal Work-Study provides funding for part-time jobs for undergraduate and graduate
students with financial need. Unlike grants and loans, FWS is paid to students as
they earn the funds by working.
Grants & Scholarships: Any money provided to students that does not have to be repaid. They can be called
grants, scholarships, tuition remissions, gift aid, or tuition waivers. Grants and
scholarships are provided based on many different factors.
Need: The student's Cost of Attendance minus their Student Aid Index.
Need-based Aid: Financial assistance provided to students based on their financial situation, determined
by completing the FAFSA. Need-based financial aid can take different forms, including
grants, scholarships, work-study programs, and low-interest loans, like the federal
direct subsidized loan.
Net Price: The difference between the cost of attendance and all grants and scholarships. Net
price reflects what the student is expected to pay for their education on their own
and can be covered through a variety of sources, including savings, student employment,
institutional payment plans, or education loans.
Other Funding Options: Funding options outside of grants and scholarships that a student and their family
may use to pay any remaining costs or expenses. This may include loans, student employment,
institutional payment plans, or personal savings.
Student Aid Index (SAI): The SAI is the eligibility index used to determine your eligibility for federal, and
in some instances, state and institutional need-based student financial aid. Generally,
students with a higher SAI are eligible for less need-based financial aid. It is based
upon the information provided by the student and their family on the FAFSA.
Verification: A federally mandated process to confirm the accuracy of data provided by selected
applicants on the FAFSA. To complete the verification process, the student, their
parent(s), or spouse, if applicable, are required to provide certain documents to
the school for review. If the documentation the student provides the institution doesn't
match what was reported on the FAFSA, verification can result in changes to the student's
financial aid eligibility, and/or financial aid offers.
Sample Aid Offer, 萝莉社 Office of Financial Aid & Scholarships