Frequently Asked Questions about Financial Aid at Wabash
We've created a document called Understanding Your Financial Aid 2020-2021 that we feel may be helpful in answering some of the questions you may have regarding your Financial Aid.
Q. Must I be accepted for admission at Wabash before I can apply for aid?
A. No. You may file the FAFSA application after October 1, 2020. However, you must be admitted to Wabash before any financial aid can be awarded.
Q. I will have brothers and sisters in college as well. Will the financial aid package take into account that fact?
A. Yes. The expected family contribution is adjusted for families with more than one child attending post-secondary school simultaneously.
Q. Should I file the FAFSA even though I am sure I will not qualify for need-based assistance?
A. Yes. Should your financial situation change drastically, the FAFSA is necessary to qualify for aid. Also, all students are eligible for Federal Direct Loans if they file the FAFSA - regardless of parental income and financial need.
Q. What should I do if my family's financial situation changes?
A. It is not necessary to file another FAFSA application. Send a letter or call to explain the changes in your situation. Contact our office if you need any assistance.
Q. My parents can't afford the amount of money that the FAFSA reports. What should I do?
A. If you feel you have not been given adequate consideration, you should contact our financial aid office. When determining your financial aid package, we make every effort to offer you the maximum amount of assistance you are eligible to receive from the resources available. In determining your aid eligibility, we are governed by federal and state regulations which may limit the types and amounts of assistance you are qualified to receive.
Q. After I am notified of my financial aid packages, when will I receive the money?
A. Funds will be credited to the student's bill in the beginning of each semester or refunded to the student if there is a credit balance in order to pay living expenses.
Q. Even though I am dependent, my parents will not provide any money for my education. What will I do?
A. This is a difficult situation. The federal and state governments expect parents to assist their children when it comes to financing college. If there is a gap between expected parental contribution and the actual contribution, contact our financial aid office to find out about alternative loan or financing programs.