Types of Financial Aid
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Types of Financial Aid
William N. Pennington CTE Scholarship
The ľ¹ÏÊÓƵ Foundation and Financial Assistance Office are thrilled to announce the opening of the 2024-2025 William N. Pennington CTE Scholarship Application! The William N. Pennington Foundation Career and Technical Scholarship has been created to support students that are pursuing careers in fields that are in high demand with local employers. This scholarship aims to improve the well-being of our community by offering students, with financial need, the opportunity to redefine their careers and ultimately their lives by learning the skills necessary to obtain meaningful employment in northern Nevada.
ROADS Scholarship Program
This scholarship is awarded during the Spring of 2024 and the Fall of 2024 semesters. This scholarship is for students enrolled in specific courses of study: Automotive Mechanics, Machine Tool Technology, Advanced Manufacturing, Healthcare, Construction, Computer Information Technology, HVAC, Truck-Driving (CDL) and Welding. The funds for this scholarship is grant funding that has been received from the Nevada Department of Employment Training and Rehabilitation (DETR), U.S. Department of Education, WINN - Nevada Governor's Office of Economic Development and SNAP/ENT.
ľ¹ÏÊÓƵ Foundation Scholarships
Each year, ľ¹ÏÊÓƵ Foundation awards scholarships to students on the basis of academic criteria or any combination of academics, field of study, financial need, activities, community service, and other criteria.
General Eligibility Criteria for ľ¹ÏÊÓƵ Foundation Scholarships
In general, in order to be selected for a campus-based ľ¹ÏÊÓƵ Foundation Scholarship, a student must:
- Meet the specific selection criteria for a particular scholarship program
- Be enrolled in a minimum of six units, unless otherwise requested by the donor
- Have a minimum cumulative grade point average (GPA) of 2.0, unless otherwise requested by the donor
- Some scholarships require students to have a financial need. To be more likely to receive a financial need based scholarship, please make sure to complete the Free Application for Federal Student Aid (FAFSA). For information on how to do this visit
Award Details
- Students awarded a scholarship will receive a unique communication from ľ¹ÏÊÓƵ AwardSpring Software with instructions specific to their scholarship award. Student will also receive a Financial Assistance Offer letter that includes their scholarship awards and any other forms of aid the student maybe eligible for.
- Scholarships of $500 and more will be disbursed in two equal payments (Fall/Spring) unless otherwise requested by the donor.
- Students must meet the minimum GPA criteria for a scholarship in order to receive the Spring disbursement.
- Students awarded a scholarship will have their award disbursed to their student account only when a thank you card has been received for the donor and in accordance with semester disbursement dates. You can learn more at: Disbursement/Refunds.
FAQs
I dont have sign in information for the scholarship website, how do I get one?
Click , then on the Set your Password button to create a new account. You must use the same email address that you use to enroll with ľ¹ÏÊÓƵ in order to create an account.
I dont have a Myľ¹ÏÊÓƵ account, what email do I use?
If you do not have a Myľ¹ÏÊÓƵ account set up, please click to create a scholarship account. You may use any personal email; please make sure to use the same one when you enroll with ľ¹ÏÊÓƵ.
When I enter my email to create an account, I get the error this email does not exist. Why wont it accept my email address?
You must use the same email address that is listed in your Myľ¹ÏÊÓƵ account in order to create an account. If you do not have a Myľ¹ÏÊÓƵ account, please click to create a scholarship account. You may use any personal email; please make sure to use the same one when you enroll with ľ¹ÏÊÓƵ.
On the dashboard page of the application website it says X Applied Scholarships. What does this mean?
Based on the information you have provided, this is the number of scholarships that you potentially qualify for. You will be notified if you are awarded any of those scholarships.
Can I start my application today and finish it a different day?
Yes. The application will save as you work so you can finish it later.
I dont know how to write a personal statement. Can you help me?
You can find details on how to write a personal statement at https://www.wnc.edu/foundation/statement/
I dont meet the federal requirements to qualify for financial aid. Can I still earn a scholarship?
Yes, the ľ¹ÏÊÓƵ Foundation offers scholarships that are not based on financial need. You may qualify for one of those scholarships.
I am very busy. How long will it take to fill out the scholarship application?
The scholarship application saves as you work so you can leave the application and finish it later. You can take as much time as needed to complete the application.
Governor Guinn Millennium Scholarship
In 1999, Gov. Kenny Guinns Millennium Scholarship initiative was enacted into law by the Nevada Legislature. Each Millennium Scholarship is worth up to $10,000 over the lifetime of the award. There is no application for students to complete, however students should become familiar with the policies and procedures related to the .
Acknowledging your Millennium Scholarship Award
Students who meet eligibility requirements, as determined by the students high school and the State Treasurers Office, must acknowledge their award prior to the college awarding the Millennium Scholarship. Students should visit the to learn how to acknowledge their award.
Determining your Millennium Scholarship Award Amount
A student attending ľ¹ÏÊÓƵ and using his or her Millennium Scholarship must enroll in a minimum of 9 degree applicable credits and can receive funding for up to 15 degree applicable credits. Students will receive a maximum of $40 per credit hour for lower-division credits (100-200 level) and $60 per credit hour for upper division credits (300-400 level).
Enrollment in courses under the 100 level are counted towards the minimum enrollment requirement of 9 credits, however these course are not eligible for funding.
Maintaining your Millennium Scholarship Eligibility
To remain eligible for the Millennium Scholarship each semester, students are required to complete at least 9 credits and maintain a SEMESTER GPA 2.75 .
Disbursement of Millennium Scholarships
Millennium Scholarships disbursements follow the same disbursement dates and process as all other financial assistance at ľ¹ÏÊÓƵ.
Millennium Scholarship Frequently Asked Questions
The Nevada State Treasurer Governor Guinn Millennium Scholarship Office maintains a very helpful Frequently Ask Questions list. Learn more by visiting: the .
Questions regarding your Millennium Scholarship
Temple Campana
ľ¹ÏÊÓƵ Scholarship and Student Employment Coordinator
775-445-3260
temple.campana@wnc.edu.
Note: Additional scholarship information can be found at the State Treasurers website:
In 1999, Gov. Kenny Guinns Millennium Scholarship initiative was enacted into law by the Nevada Legislature. Each Millennium Scholarship is worth up to $10,000.
A student attending ľ¹ÏÊÓƵ and using his or her Millennium Scholarship must enroll in a minimum of 9 degree applicable credits and can funding for up to 15 degree applicable credits. Students will receive a maximum of $40 per credit hour for lower-division credits (100-200 level) and $60 per credit hour for upper division credits (300-400 level). Contact the Office of the Nevada State Treasurer to request complete information and all eligibility criteria.
Nevada Promise
The Nevada Promise Scholarship is a last-dollar scholarship that was established by the Nevada State Legislature in 2017. The scholarship incorporates service learning and mentorship with academics, with the goal of increasing enrollment in higher education and improving overall student achievement, by eliminating financial barriers and allowing students to place greater emphasis on their education. This scholarship provides coverage of tuition and other mandatory fees not met by federal or state aid for up to three years. There are no income or high school GPA requirements, and it is open to all Nevada high school students graduating between August 1 and June 15 who begin classes at ľ¹ÏÊÓƵ in the fall immediately following graduation.
Visit the page to learn how to qualify!
Outside Scholarships
Western Nevada College does not post links for external scholarships at this time. We do encourage students to explore scholarship opportunities by using free scholarship sites such as:
There are many other similar search sites just make sure you never pay money to apply and avoid searches that want to link to your social media or ask for private personal information such as your social security number, as these are often scams.
Big companies and large corporations often offer scholarships so its a good idea to search those sites too! Other places to check out include your or your parents places of employment as well as local financial institutions.
We do support known local organizations who offer scholarships and often have hard copy applications in the Financial Assistance Office. Applications are in our lobby or posted on our lobby bulletin board.
Federal Pell Grant
A Federal Pell Grant, does not have to be repaid. Pell Grant program is federally funded with the purpose of helping financially needy students meet the cost of postsecondary education. This program is centrally administered by the federal government and is typically the foundation of a students aid package. Students must demonstrate financial need to qualify.
The Financial Assistance Office uses the Pell award as the foundation of the students financial aid package. Therefore, students requesting financial assistance during their enrollment are required to establish Federal Pell Grant eligibility before additional determination of funds eligibility is made and/or awarded.
In order to determine eligibility for any federal financial aid program, students must file a Free Application for Federal Student Aid (FAFSA) and have the results sent to ľ¹ÏÊÓƵ, by providing the ľ¹ÏÊÓƵ School Code on the FAFSA (013896).
Federal Pell Grant award amounts are based on the Federal Pell Grant Payment and Disbursement Schedules provided by the U.S. Department of Education. You can learn more about the PELL Grant at .
Students are notified of the amount of their Pell Grant through a financial aid offer letter. Students are directed to view their offer letters on myľ¹ÏÊÓƵ.
Summer Pell Grant
Eligibility
To be eligible for a Summer 2023 Pell Grant, you must:
- Have completed a 2022-2023 FAFSA
- Be eligible for the Federal Pell Grant
- Declare a financial aid eligible degree-seeking program
- Enroll in degree-applicable classes for the Summer
- Meet Satisfactory Academic Progress
- Have lifetime Pell Grant eligibility remaining
Check your Lifetime Eligibility
You can check for your remaining eligibility level online at and logging on using your FSA ID. View your Lifetime Eligibility Units (LEU) on the financial aid review page.
Summer Awarding Timeline
Once you enroll in Summer classes and ľ¹ÏÊÓƵs Financial Assistance Office determines that your classes are degree-applicable, you will automatically be awarded the Federal Pell Grant for Summer, based on your Summer enrollment status.
Dropping, Withdrawing or Failing Classes
It is possible that you could owe money back for all or part of your Federal Pell Grant if you do not complete classes in which you enrolled for the Summer. The amount you may owe will be calculated based on the drop date, the number of credits that you did not earn and the last day that you attended classes. Review the Return of Title IV Policy page for more information.
PELL Grant Amount Depends on Enrollment
Your Summer Pell Grant amount will depend on the number of credits you enroll in for the Summer Session. If you have already received a Pell Grant Award for Full Time enrollment in both the Fall and Spring Semester, your Summer Pell Grant award will require you to enroll in a minimum of 6 degree applicable credits.
The Pell Grant amount will be adjusted just prior to the disbursement of your aid based on your enrollment level. Enrollment levels are defined in the following manner:
- 12+ credits = Full Time Enrollment and 100% of the semester Pell Grant amount
- 911 credits = Time Enrollment and 75% of the semester Pell Grant amount
- 68 credits = Enrollment and 50% of the semester Pell Grant amount
Federal Supplemental Education Opportunity Grant (FSEOG)
FSEOG, similar to a Pell Grant, does not have to be repaid. This federal program provides limited grant funding on a first-come, first-served basis to students who meet the April 1 priority filing deadline.
Recipients must be:
- Eligible for a Pell Grant
- Be enrolled in at least six units
- Demonstrate financial need
ľ¹ÏÊÓƵ begins awarding this fund after April 1 of each year and awards to student with the lowest EFC, enrolled in six units or more, and with the earliest FAFSA completion date.
Award amounts are based on remaining financial need and begin at $500 per semester.
You can learn more about FSEOG at:.
Silver State Opportunity Grant (SSOG)
The Silver State Opportunity Grant Program (SSOG Program) is a state-supported financial aid program created by the 2015 Legislature pursuant to Senate Bill 227 (Chapter 387,Statutes of Nevada 2015). Under the SSOG Programs, need based grants will be awarded to eligible low income student who are college-ready to pay for a portion of the cost of education at a community college or state college within the Nevada System of Higher Education (NSHE). This unique program is built on a shared responsibility model and guided by a philosophy for awarding grant aid based on the total cost of attendance (tuition and fees, books and supplies, room and board, and other living expenses) being shared by partners (the state, federal government, family, and the student).
To be eligible for an SSOG award, a student must:
- Be enrolled in a program of study leading to a degree or certificate;
- Enroll in at least 15 credit hours that apply to the students chosen program of study;
- Be college ready based on placement or completion of entry-level, college-level mathematics and English*;
- Be classified as a resident for tuition purposes;
- Meet institutional Title IV financial aid satisfactory academic progress requirements; and
- Complete the Free Application for Federal Student Aid (FAFSA) and have an Expected Family Contribution (EFC) of 8500 or less.
*To be considered college-ready for the purpose of SSOG Program eligibility, a student must be 1) currently or previously enrolled in a 100 or above level mathematics and English course, 2) placed into a college-level course under institutional placement policies for placement into at least Math 120 and English 101, or 3) previously successfully completed remedial coursework (evident by a C or better in Math 96 and/or English 98).
Nevada Resident Award and Nevada Student Grant
These two state programs provide limited funding to Nevada residents on a first-come, first-served basis.
To be eligible for these programs, students must:
- Be a Nevada resident
- Have a complete financial aid file
- Demonstrate financial need
- Enroll at least six units
ľ¹ÏÊÓƵ begins awarding this fund after April 1 of each year and awards to students with the lowest EFC, enrolled in six units or more, and with the earliest FAFSA completion date.
Award amounts are based on remaining financial need and begin at $500 per semester.
Grant in Aid
This state program provides limited funding to Nevada residents on a first-come, first-served basis.
To be eligible for a GIA award, a student must:
- Have a complete financial aid file
- Demonstrate financial need
- Enrolled at least six units
- Have an expected family contribution of less than 200.
ľ¹ÏÊÓƵ begins awarding this fund after April 1 of each year and awards to student with the lowest EFC, enrolled in six units or more, and with the earliest FAFSA completion date.
Award amounts are based on remaining financial need and begin at $500 per semester.
Western Nevada Award
This institutional funded grant program provides limited funding to students on a first-come, first-served basis.
To be eligible for this programs, students must:
- Have a complete financial aid file
- Demonstrate financial need
- Enroll at least six units
ľ¹ÏÊÓƵ begins awarding this fund after April 1 of each year and awards to students with the lowest EFC, enrolled in six units or more, and with the earliest FAFSA completion date.
Award amounts are based on remaining financial need and begin at $500 per semester.
Wildcat Award
This institutional funded grant program provides limited funding to students on a first-come, first-served basis.
To be eligible for this programs, students must:
- Have a complete financial aid file
- Demonstrate financial need
- Enroll at least six units
ľ¹ÏÊÓƵ begins awarding this fund after April 1 of each year and awards to students with an EFC just over the Pell Grant eligible EFC and with the earliest FAFSA completion date.
Award amounts are based on remaining financial need and begin at $750 per semester.
ľ¹ÏÊÓƵ 15 to Finish
This institutional funded grant program provides limited funding to students on a first-come, first-served basis.
To be eligible for this programs, students must be:
- Have a complete financial aid file
- Demonstrate financial need
- Enroll at least fifteen units
ľ¹ÏÊÓƵ begins awarding this fund after July 1 of each year and awards to students with the lowest EFC, enrolled in 15 units or more, and with the earliest FAFSA completion date.
Award amounts are based on remaining financial need and begin at $1000 per semester.
Non-Federal Aid for Non-FAFSA Filers
Students who are NOT eligible to file the FAFSA are considered Non-FAFSA Filers. Students in this category are not eligible for federal aid, however could be eligible for other types of non-federal student aid.
The majority of students are eligible to complete the Free Application for Federal Student Aid (FAFSA).If you are a U.S. citizen or non-citizen who is eligible to receive Federal Student Aid, you should complete the .
Students who are deferred action for childhood arrivals (DACA) are asked to also complete the FAFSA. Completion of the FAFSA could help you become eligible for certain state and institutional awards. Students who have DACA status, should be prepared to present the ľ¹ÏÊÓƵ Financial Assistance Office with their I-797 after the completion of the FAFSA.
Application for Non-FAFSA Filers
Beginning with the 2023-24 school year, 5 Nevada System of Higher Education institutions are using the College Board’s CSS Profile to calculate the financial need of students who are unable to complete the FAFSA due to their immigration status. This form is used by financial aid offices to determine the student’s eligibility for institutional and state financial aid.
Participating Institutions: College of Southern Nevada, Great Basin College, Nevada State College, Truckee Meadows Community College, Western Nevada College
Do not pay to complete the CSS Profile! Contact the financial aid office at your college– they will guide you on whether this is the correct application for you, and provide you with a fee waiver code to input as payment.
Steps to Apply:
- Gather your and your parent’s financial documents before applying:
- A copy of your, and your parent’s, completed tax returns, if applicable
- W2 forms and other records of income
- Records of assets and untaxed income
- Sign in to the Fall 2023/Spring 2024 CSS Application at
- You will be prompted to create a College Board student ID if you haven’t previously created one.
- As part of your application, you will be asked for demographic and financial information for the student and parent(s).
- Make sure to include all the colleges you want your information sent to.
- If you are asked to make a payment STOP and contact your financial aid office. They will provide you with a fee waiver code so you can complete the application at no cost to you.
Non-FAFSA Filers are also encouraged to complete the ľ¹ÏÊÓƵ Foundation Scholarship Application to become eligible for donor based scholarships.
AmeriCorps
AmeriCorps Vouchers are available to complete on-line at .
Once you fill out the voucher on-line, AmeriCorps will forward it to our office and we will complete the school portion electronically. This process takes two to three weeks. If you qualify for these funds.
When ľ¹ÏÊÓƵ receives the Americorps funds, they are applied to your student account. If the balance is paid in full and there are residual funds, they will be sent to you how you've set up refunds with the Business Office. If ľ¹ÏÊÓƵ does not receive the AmeriCorps funds prior to the beginning of the semester, you will need to pay for your classes and books on your own.
Student Employment
Student Employee programs help students earn funds to help with part of their college expenses while attending school.
To be considered for the majority of student employment funds, complete the Free Application for Federal Student Aid (FAFSA).
Student Employment positions can be found on the Student Employee Job Board.
Student Employee Supervisors should refer to the Student Employment Handbook for policies and procedures.
Federal Work-Study Program is a federally funded program designed to help provide employment for qualified students who demonstrate a financial need as determined by the FAFSA. These are on-campus jobs that are located on the Carson City, Fallon and Douglas campuses. The hours worked are arranged around the students class schedule, not to exceed 20 hours per week. Students must be enrolled at least half-time to be eligible for this program.
Nevada Student Employment Program is a state-funded program based on financial need as determined by the FAFSA. Students must be a Nevada resident and enrolled at least half-time. Like federal work-study, these are on-campus jobs that are located on the Carson City, Fallon and Douglas campuses. The hours worked are arranged around the students class schedule, not to exceed 20 hours per week. Students must be enrolled at least half time to be eligible for this program.
Western Student Employment Program is a Nevada access employment program for students who have demonstrated financial need as determined by the FAFSA and is designed to help provide employment for qualified students who demonstrate a financial need. These are on-campus jobs that are located on the Carson City, Fallon and Douglas campuses. The hours worked are arranged around the students class schedule, not to exceed 20 hours per week. Students must be enrolled at least half-time to be eligible for this program.
Regents Service Program is a state funded program based on criteria established by the Nevada System of Higher Education Board of Regents. To be eligible, Nevada residents must be enrolled at least half-time and must meet at least one of the following criteria:
- Head of household.
- Single parent who has never attended college or has had a break in enrollment of two years or more.
- First person in their immediate family to pursue a certificate or degree beyond high school.
- Not receiving support from parents or family.
- Have unusual financial circumstances.
ľ¹ÏÊÓƵ uses the funds from this program to support literacy by providing reading tutors to the elementary schools within our service area. These tutors provide individual and group tutoring at the elementary schools. A FAFSA is not required for this program. Applications are available in the Financial Assistance Office.
FAQs
How do I apply for a job?
How to apply for Student Employment:
- Look through the job postings on the Student Employee Job Board and contact the supervisor(s) listed via email, including your resume, and ask for an interview.
- If you are offered a position, the supervisor will contact the Student Employment Coordinator and Human Resources.
- The Student Employment Coordinator will confirm you are eligible for student employment. Once approved, Human Resources will send the Supervisor hiring you a link to apply for the position and that will be forwarded to you.
NOTE: Some positions require you to have work study funds. Work study funds are based on your eligibility determined by the FAFSA and are awarded as part of your Financial Aid package. If you are interested in work study, you can contact the Student Employment Coordinator at temple.campana@wnc.edu and she can review your eligibility and add you to the work study waiting list.
What is the Work Study Program?
Work Study Programs provide funding for part-time jobs for students with financial need, allowing them to earn money to help pay education expenses. These programs encourage work related to the students course of study. Most students will work 10-15 hours per week with the maximum being 20 hours. Students can earn the amount listed on their award letter.
Student Loans
Student loans are money that must be repaid. Loans are legal obligations. Students are required to repay ALL student loans regardless of whether they didnt like the education received, ability to get a job in a preferred field of study, or financial difficulty.
Before taking out a student loan, it is wise to think about the amount of money being borrowed and the amount of money to be repaid over the years, with interest.
Be conservative. Only borrow what is absolutely needed.
The Financial Assistance Office at ľ¹ÏÊÓƵ supports the Nevada Attorney Generals Office with regards to college student loan conduct. Please read the ľ¹ÏÊÓƵ College Student Loan Code of Conduct for more information.
Steps to Apply for a Federal Direct Loan
Please Note: Summer Loan requests are processed separately from Fall and Spring. If you plan to request a loan for Summer, you must complete a new loan request form.
- Complete and submit the Free Application for Federal Student Aid (FAFSA).
- Complete your ľ¹ÏÊÓƵ financial aid file.
- Complete a Master Promissory Note (MPN) at . Sign in with your FSA ID and choose Complete MPN from the menu on the left side of the page.
- Complete the Entrance counseling at: Sign in with your FSA ID and choose Complete Entrance Counseling from the menu on the left side of the page. ENCOURAGED TO COMPLETE EVERY YEAR.
- Log into the Student Aid to download your financial aid history. This document will help students understand how to review their borrowing history as reported to the National Student Loan Database System (NSLDS). First time borrowers must still complete this step. To access your financial aid history login at with your FSA ID, click on Name on top right, then click My Aid and Download Aid Data.. You must attach your financial aid history summary to your Loan Request Form.
- Complete and submit the .
- Must complete the Exit counseling at: in the last semester you are in attendance at ľ¹ÏÊÓƵ or drop below 6 credits.
- If you decide to cancel your loan(s), you need to submit to the Financial Assistance office a completed form and/or return the loan funds to your lender. To avoid penalty, you must cancel your loans as soon as possible or no later than 14 days after disbursement of funds.
FOR MORE INFORMATION ON DIRECT FEDERAL LOANS GO TO:
Loan Disbursements
Federal regulations require loans to be disbursed in two equal payments. One in the Fall semester and one in the Spring semester. Federal Student Loans will begin disbursing after the Financial Assistance Census Date and not until the 3rd week of the semester.
IF you are a First Time Freshman AND First Time Borrower (that means the borrower has never attended college or does not have transfer credits AND has never borrowed a loan), you will have a 30-day delay on your first disbursement.
Loans for one semester will still have the two disbursements one after the Financial Assistance Census Date and the second disbursement midway through the semester.
If you are enrolled in all online classes, the financial assistance office could verify participation and attendance, prior to disbursing financial aid funds.
View Sample Loan Disbursement Letter
Types of Loans
- Federal Direct Loans (Subsidized and Unsubsidized)
- Direct Subsidized Loan This loan is need-based aid (need is determined by FAFSA). Eligibility is determined based on credits taken, degree program declared, and past borrowing. Interest is subsidized while in school attending at least half time (six credits).
- Direct Unsubsidized Loan This loan is non-need based aid. Interest begins to accrue immediately from the date the loan is disbursed, like a credit card purchase. The borrower is responsible for the interest that accrues on the loan. Students are encouraged to pay the interest while in college. If the borrower does not pay the interest that is accruing on the Unsubsidized loan while in college and when the Unsubsidized loan goes into repayment, the lender will take the principle borrowed, all the interest that was not paid, add them together and then determine what the payment will be with interest!
- Direct Parent Loan for Student (PLUS) This loan is a low-interest student loan for the parents of dependent students and for graduate/professional degree students. Unlike Subsidized and Unsubsidized loans, this type of loan requires the borrower to pass a credit check. Interest begins to accrue from the date the loan is disbursed, just like a credit card purchase. Parents can apply online at: . AND, your parent must also complete the ľ¹ÏÊÓƵ PLUS Loan Request Form, at the following link: Financial Aid Forms. Parents must complete this ľ¹ÏÊÓƵ PLUS request form every year.
Exit Counseling
The federal government requires that student borrowers complete Exit Counseling. Exit Counseling is required before you withdraw, graduate or drop below half-time attendance (even if you plan to transfer to another school). This can be completed at:
Interest Rates
On or after July 1, 2023 and before July 1, 2024
- Subsidized loan is 5.50% (when you go into repayment).
- Unsubsidized loan is 5.50% (accruing immediately once loan is disbursed).
- PLUS is fixed at 8.05% (accruing immediately once loan is disbursed).
On or after July 1, 2024 and before July 1, 2025
- Subsidized loan is 6.53% (when you go into repayment).
- Unsubsidized loan is 6.53% (accruing immediately once loan is disbursed).
- PLUS is fixed at 9.08% (accruing immediately once loan is disbursed).
National Student Loan Data System (NSLDS)
- This is a national data base that tracks every federal loan ever borrowed. When you
log into NSLDS, you can:
- Track who your loan servicer is and where to make payments
- Track your loans from disbursement to payoff
- Track your total student loan debt
- Track your loan status & interest rate
- As part of receiving a Direct Loan, loan disbursement information is reported to the National Student Loan Database (NSLDS) and is accessible to view by authorized agencies, lenders, and other institutions.
Loan Default Consequences of Default
- Full amount of loan is due INCLUDING collection costs and all interest that has accrued
- You are subject to federal & state offsets
- Wages and tax refund may be garnished
- Credit will be tarnished
- Will Lose deferment & forbearance options
- Will Lose eligibility for future financial aid
- May lose eligibility for certain federal or state jobs
- May lose professional license
Western Nevada College 3 year Cohort Default Rate Trends
A cohort default rate is the percentage of a schools borrowers who enter repayment Direct Loan loans during a particular federal fiscal year (October 1st to September 30th), and subsequently default by the end of the second following fiscal year. Learn more at: .
- 2020= 0.0
- 2019= 3.6
- 2018 = 13.7 / National Average = 7.3
- 2017 = 21.3
- 2016 = 20.2
Private Education Loans
There are several lenders that provide education loans. All private education loans are credit based.
- Available through private lending institutions.
- Loans are credit based.
It is in the best interest of the borrower to review each lenders interest rates and types to ensure the borrower chooses the best one for his or her needs.
THERE IS NO PENALTY FOR PAYING YOUR FEDERAL DIRECT LOAN(S) EARLY.
FAQs
How Much Can I Borrow Each Academic Year?
Annual (Yearly) loan limits are regulated by the government and are as follows:
Class Standing |
Credits Earned |
Base Eligibility |
Additional Unsubsidized Eligibility |
Freshman | 0-29 credits | $3,500 | $6,000 ($2,000 Dependent Students) |
Sophomore | 30 59 credits | $4,500 | $6,000 ($2,000 Dependent Students) |
Junior/Senior * | 60 or more credits | $5,500 | $7,000 ($2,000 Dependent Students) |
* Funding only applies to students in the Bachelor of Technology program.
What is an Academic Year?
A typical academic year is the Fall and Spring semesters. You can use your loan to help pay for the Summer semester. However, if you have borrowed all you are eligible for between the Fall and Spring semesters, you will not have any money left to borrow in the summer.
How Much Can I Borrow for a Lifetime?
Aggregate (lifetime) loan amounts are set by the federal government. Undergraduate levels are as follows:
Dependent Students | $31,000 (of which no more than $23,000 can be subsidized) |
Independent Students | $57,500 (of which no more than $23,000 can be subsidized) |
The aggregate amounts are Lifetime limits from earning an Associates and/or Baccalaureate (Bachelor) degree.
Be careful when Borrowing Loans! This is all you have to work with!
Getting Ready to go into Repayment?
Contact Us
Financial Aid Office
Bristlecone Building, Room 102
2201 West College Parkway, Carson City, NV 89703
ľ¹ÏÊÓƵ Federal School Code 013896
finaid1@wnc.edu
775-445-3264
775-445-3058