Financial aid provides assistance to help you pay the cost of higher education, including tuition, fees, books and room and board. Financial aid can be made up of “gift aid” which does not have to be repaid, such as grants and scholarships; loan assistance where you borrow money to be repaid later; and work programs were you earn a regular paycheck to help with your ongoing costs.
To be considered for financial aid (grants, loans and work study), start by submitting the Free Application for Federal Student Aid (FAFSA) at fafsa.ed.gov. This is done on an annual basis. The application opens each October for the following school year. You must demonstrate financial need to qualify for grants, work assistance and some loans. To be considered for scholarships, apply for EWU scholarships at ewu.edu/scholarships, click Apply Now.
From the time you submit your financial aid application you should plan six to eight weeks before you receive a financial aid offer. For those who apply really early in the year, first financial aid notices for the new school year are sent around March 15 for new students and May 15 for returning students.
Financial need is the difference between your cost of attendance and the amount you and your family are expected to contribute to your education based on the data submitted on your FAFSA. Cost of Attendance – Expected Family Contribution (EFC) = Financial Need
Your financial need determines the maximum amount of need-based financial aid (grants, Perkins Loan, subsidized loan) you can receive. Even if you do not qualify for need based assistance, unsubsidized and PLUS loans will be available to help cover your educational costs.
EFC is calculated by the income, assets and family data provided on your FAFSA. EFC determines your eligibility for financial aid assistance. The lower your EFC, the greater your need for assistance, especially grants. Your EFC is the same regardless of the school you attend.
Your EFC is not the amount of money your family will have to pay for your education, nor is it the amount of financial aid you will receive. Regardless of your EFC, at a minimum you will be eligible for student loans.
COA estimates the cost of attending EWU for the regular school year, fall – spring terms. COA includes direct costs like tuition/fees and books/supplies. COA also includes a modest allowance for indirect costs including room/board, transportation and personal expenses.
COA will vary based on your state of residency, whether or not you live with your parents, your student level (undergraduate or graduate) and the number of credits for which you are enrolled. COA elements, except tuition, are based on state wide averages. Tuition is the COA value which will vary the most from school to school.
Many financial aid sources are limited, so funding is awarded on a first-come, first-served basis to those eligible. You may not be considered for all financial aid programs if you miss the EWU priority consideration date of February 1. Regardless of when you apply for financial aid, if you meet the qualifications for Pell grant and student loans, you will still have access to these resources.
The amount of financial aid for which you are eligible will vary from student to student, based on all of the details referenced above. Once you complete the FAFSA and submit any additional documents necessary, these amounts will be determined. Each financial aid source has individual qualification requirements and maximum annual limits.
When comparing financial aid offers from various schools, be sure to calculate the “bottom line.” Subtract each institution’s financial aid offer from that institution’s cost of attendance to determine the amount that you and your family will contribute.
All financial aid for which you are eligible is evenly split over your terms of enrollment in the school year. Semester students receive half their aid each term and quarter students receive one third of their aid each term. EWU fees are assessed on a semester or quarter basis as well.
Aid is released beginning the week before classes start, each term, and first pays any charges due to EWU, including tuition/fees and on-campus room/board. If you have more financial aid in the term than charges to EWU, a “refund” is generated and released the first day of classes via direct deposit or a check put out in the mail.
All EWU charges are due to be paid in full by the 6th class day each term. If unpaid by the due date, a $75 late fee is assessed to you for the term. You will not be dis-enrolled from your courses. When your financial aid becomes available, it will pay toward all EWU charges, including the late fee. A short term (60 day) loan may also be available to help you purchase your books in advance of receipt of financial aid. If for any reason you are not eligible and/or do not receive aid for the term, you are still responsible to pay your EWU charges.
The federal government will deduct a loan origination fee and a default fee from each disbursement; therefore, the funds you receive will be slightly less than that on your financial aid notice.
If you have remaining aid for the term, after your EWU charges have been paid, you may utilize these funds to purchase books. Financial aid funds are not available in advance of the start of the term and are not issued directly to the bookstore.
Work study is an amount you may earn through work each term. You do not receive these funds at the start of the term. Rather, you will receive a paycheck for hours worked twice per month, the 10th and 25th, to assist you with costs you incur throughout the term.
To receive your financial aid on the first day of the term, you must meet the following conditions at least one week in advance of the term start. From the time your aid is released and pays your EWU charges, it is an additional three business days before funds are available in your bank account or you receive a refund check by mail. For timely receipt of your financial aid:
- Be enrolled full-time. Wait listed courses do not count toward your total enrollment. Repeated courses may also impact your eligibility.
- Meet satisfactory academic progress (SAP) requirements.
- Have all holds cleared.
- Have all required documents and contracts signed and returned, including accepting your financial aid award and completing your loan promissory note at studentloans.gov.
- Ensure your loan/scholarship funds have been received from the lender/donor.
The most common reasons for a delay in your financial aid is not being enrolled full time or missing required information, like your student loan promissory note. Check your portal a few weeks prior to the start of the term to ensure nothing is missing and you have no holds.
If you are registered for classes and need to leave EWU, you should formally withdraw through the Records and Registration Office. Students who do not formally withdraw may receive grades of “0.0” for all classes. As a financial aid recipient, if you do not earn any credits in the term and/or receive a 0.0 in all classes, you may be required to repay all or a portion of the financial aid you received for the term. Refer to the Return of Title IV Funds policy for details.
In addition, you will be put on financial aid suspension and be required to complete an appeal process to receive financial aid in a future term.
To check your financial aid status at any time, log in to your portal at my.ewu.edu and select the appropriate link under Financial Aid & Scholarships. Your award detail, accepting your aid, checking on holds and many other financial aid related tasks are available. If needed, you may also electronically submit missing documents through your portal.
Details about your financial aid status, missing items, award availability, holds, etc. is also communicated via your Eagles email account. Be sure to regularly check it!
Yes, you can obtain a student loan as long as you are enrolled in the term for which you want loan aid and have a complete FAFSA on file. Contact our office for your next steps to obtain the loan, which may include completing a promissory note at studentloans.gov. The amount of loan money you may borrow per school year is limited based on the number of college credits you have completed and your dependent/independent status. It can take two to four weeks to receive loan funds, so plan accordingly.
There is an expectation from the federal government that unmarried students under the age of 24 and without children of their own, are financially “dependent” on their parents, regardless of their parents willingness or ability to pay for their higher education. In extreme unusual circumstances, such as abuse, you may apply for independent status. But, in most cases, parent information will be required. Parents are not required to borrow a parent PLUS loan or assume any financial liability for your education by completing the FAFSA.
If you are seeking financial aid for summer term, contact the financial aid office for details and a short application. For most students, your maximum grant and loan aid has already been used over the regular school year. Summer term financial aid is limited to any unused funds from the regular school year and parent/private loans.
Satisfactory academic progress means that you are completing enough credits to progress toward the goal of completing your degree program. Federal regulations require that all students make satisfactory academic progress to receive aid. Please review EWU’s Satisfactory Academic Progress policy for more details.
If you are in a study abroad program that is approved for credit at EWU, you may receive financial aid through EWU for that program. Contact the Office of Global Initiatives for more details.
Eastern Washington University strives to satisfy all requests for special access needs for persons with disabilities. Requests for special access may be made by calling the Financial Aid and Scholarship Office at 509.359.2314 or the Disability Support Services Office at 509.359.6871.
Education Tax Credits
The United States Congress has created a number of tax credits, tax deductions, and savings vehicles for higher education expenses. Details about these tax benefits are provided below:
Tax Benefit Guides
NASFAA’s Education Tax Benefit Guide and the IRS brochure “Students and Parents – Why Form 1098-T is Important to You” provide details for students and families about tax credits and deductions to help lower the cost of higher education.
Important Tax Information
There are also favorable tax benefits associated with flexible IRAs and employer-provided tuition benefits. EWU staff members are not authorized to give tax advice; however, further information on all of these programs can be obtained from the following sources:
- a professional tax advisor
- IRS Publication 970
- Internal Revenue Service at 800.829.1040
- Internal Revenue Service web site
The GET Program
GET is a prepaid tuition plan that allows Washington families to buy credits at current tuition rates for use in the future. For further information, please call 800.955.2318 or visit the GET web site.
Additional Resources and Links
Need more information about financial aid, college planning, or how paying for college can save you money on your taxes? Click on a link below to find the information you need.
FAFSA on the Web
- US Department of Education
- US Disability Services
- US Internal Revenue Service, 800.829.1040
- US Selective Service, 847.688.6888
- US Social Security Administration, 800.772.1213
- Washington Student Achievement Council (WSAC)
General Financial Aid Information
- Award Comparison Tool
- College Navigator
- Federal Aid Information, 800.433.3243
- Federal Student Aid Publications Available for Download
- General Financial Aid Information
- NASFAA’s Parent and Student Financial Aid Resource Center
- Preparing for College
- Student Lobbying
- Report Financial Aid Fraud, 800.647.8733
International Student Aid Information
Loans and Financial Management
- General Information about Direct Loans
- Loan History
- Financial Planning
- Student Loan Ombudsman, 877.557.2575
- Identity Theft Prevention