Financial Aid FAQ

PNWU’s federal school code is G41305.

The first step is to complete the Free Application for Federal Student Aid (FAFSA). Be sure to list PNWU as your school choice (our federal school code is G41305). Your FAFSA information will then be electronically transmitted to PNWU. We will review the information, then you will receive a notification sent to your PNWU email account about your aid offer and instructions on how to accept/decline/reduce the student loans on the Financial Aid Portal.

Yes! The FAFSA must be completed every year if you wish to receive a financial aid award notice and be offered federal student loans. The FAFSA may be completed beginning October 1 for the following academic year.

We usually have our system upgraded for the new year in January, then import all new FAFSAs and start posting aid notices to the Financial Aid Portal in March. 

You must be a US citizen or an eligible non-citizen (possessing Permanent Resident card I-551, an I-551C, or an I-94 with eligible designations). You are NOT eligible if you have an F1 or F2 student visa, J1 or J2 exchange visitor visa, or G-series visa. 

The only issue when you apply is allowing enough time for your FAFSA to be processed at PNWU so your tuition is paid by the first day of fall semester and for you to receive funds for your living expenses in a timely manner. Students who complete the FAFSA late or fail to complete all required steps may be charged a late fee for paying tuition after the first day of class.

We begin posting aid eligibility in March, for applicants who filed their FAFSA between October 1 and March 1. FAFSAs received after March 1 will be processed throughout spring and summer. If you have filed your FAFSA but haven’t received your aid eligibility email within six weeks before classes begin, please contact the Financial Aid Office, finaid@pnwu.edu.

At this time, we offer a combination of loans (unsubsidized loan and the Graduate PLUS Loan) to pay your tuition in full and cover your PNWU estimated living expenses for the academic year. PNWU’s estimated living expenses are based on reasonable living expenses for our area.  Note that summer living expenses are not included when you are not enrolled at least half-time. (a minimum of 6 credits).

However, as of July 1, 2026, the Graduate Plus will no longer exist for new borrowers.  Students will need to seek other funding, such as private student loans and scholarships.  There are also specific scholarships that pay tuition in full as well as provide a monthly stipend for living expenses, but these are in return for fulfilling a service commitment after you graduate.  Check these out on the PNWU scholarship page.

No. We strongly encourage you to take a close look at your household budget and only borrow what you need. You can decline or reduce any amount of the loans offered on the Financial Aid Portal. Please keep in mind that any loan amount you decline at first can still be accessed later in the academic year if you find that you need more funds.

According to federal student aid guidelines, purchasing non-required study materials is not an “allowable expense” for increasing federal student loans.  Materials to help you study for board exams, in addition to the board prep question banks, are provided to you by PNWU.

However, students who are struggling academically and are not testing well could possibly qualify for adding the cost of additional study materials to their student loans.  These unique situations require confirmation by faculty or a PNWU learning specialist and will be considered on a case-by-case basis. Contact the Financial Aid Office for more information.

Yes. You can choose to accept a lesser amount than your full financial aid eligibility offered (i.e., if you only want to accept enough to cover tuition and fees); simply reduce the amount offered on the Financial Aid Portal when accepting the loan(s). However, if you want to borrow a higher amount you will need to speak with the Financial Aid Office first, or email finaid@pnwu.edu.

Begin by checking out the PNWU scholarship page and also registering your profile at The WashBoard to receive notices of potential scholarship matches. Students are also encouraged to conduct their own online scholarship searches, and to check with their local civic, religious, fraternal, and community organizations, personal donors, and free scholarship search engines.  As the Financial Aid Office receives scholarship information from various organizations periodically throughout the academic year, our office notifies students of these opportunities via email. Scholarships are also advertised in the weekly Student Government newsletter. Remember to NEVER pay for a scholarship search!

Yes, you must notify the Financial Aid Office if you are receiving any aid from an outside source. We will review the outside aid to determine if the total amount received exceeds the student’s budget. Adjustments to the student’s federal loans may be required. 

A private education loan is a non-federal student loan offered by private lenders like banks and credit unions to finance educational expenses, such as tuition, books, and housing. Unlike federal loans, private loan terms and interest rates are determined by your creditworthiness and often require a creditworthy cosigner for approval and better terms. They are used to cover the gap between the total cost of attendance and other financial aid, but generally offer fewer borrower protections and flexible repayment options compared to federal loans. 

• Lenders: Offered by private financial institutions, not the federal government.
• Credit-Based: Approval and interest rates are based on the borrower’s and/or cosigner’s credit history.
• Cosigner: Many students need a creditworthy cosigner to qualify for a loan.
• Fixed or Variable Rates: Interest rates can be fixed (staying the same) or variable (changing over time).
• No Federal Benefits: Private loans do not have the borrower protections, such as flexible repayment terms and subsidized interest, found in federal student loans. 

Federal student loan

• Borrowed from the federal government
• To apply, you must complete the Free Application for Federal Student Aid (FAFSA)
• Fixed-rates and origination fees

Private loan

• Borrowed from online lenders, banks, and credit unions
• Approval and interest rates are based on the borrower’s and/or cosigner’s credit history
• Fixed- or variable-rates
• Typically few or no origination fees
• More flexible loan amounts

Prequalification: If you want to check your eligibility for private student loans, consider getting prequalified with multiple lenders. You can do this by visiting each lender’s website and answering a few basic questions about your school, income, and credit history. Instant student loan approval through prequalification doesn’t require a credit check and won’t affect your credit score. It’s not a contract, just a simple way to see estimated rates and loan amounts based on the information you provide.

Application: Applying for student loans can affect your credit score.

• Whenever you apply for a loan, the lender typically conducts a credit check, which can result in a hard inquiry on your credit report.
• Hard inquiries can have a negative impact on your credit score, especially if you have several of them within a short period of time. However, the impact is usually small, and your score should recover over time as you make on-time payments and your credit history improves.
• It’s important to shop around for the best student loan rates, but be mindful of the number of loan applications you submit.

Yes. Students can borrow up to the total cost of attendance, minus other financial aid, to cover various education-related expenses. 

• Compare potential lenders by evaluating their interest rates, total fees, and repayment options, including terms, grace periods, and flexibility like deferment and forbearance.
• You should also research customer reviews and lender reputation, and ensure the lender offers features like a cosigner release and any available discounts. 

If you have completed all required items prior to the term beginning, funds from your loans will be electronically deposited to your bank account by the Monday after the first week of fall term and the Monday after the first week of spring term. The tuition and fees are deducted from these funds; the remainder is released to you for your living expenses.  

Please visit this Federal Student Aid site for current interest rates.

Yes. Most federal student loans have loan fees that are a percentage of the total loan amount. The loan fee is deducted proportionately from each loan disbursement you receive while enrolled in school. This means the money you receive will be less than the amount you actually borrow. You’re responsible for repaying the entire amount you borrowed and not just the amount you received. Please visit this Federal Student Aid site for current loan fees.

The MPN is a legally binding contract the student must sign. It is an agreement to repay federal student loan money you will borrow. The MPN also describes your rights and responsibilities as a student loan borrower. You can view more information and complete your MPN here.

You may return unwanted loan funds within 14 days of disbursement.  Contact the Financial Aid Office immediately if you want to return funds by emailing finaid@pnwu.edu. We will return the funds on your behalf so that no fees or interest is charged.

If you decide to return excess funds more than 14 days after disbursement, you will need to contact your loan servicer directly for instructions on how to make a payment on your loan. 

If you declined part or all of your student loan offer, you can request more throughout the academic year. Send an email request to finaid@pnwu.edu.

If you accepted the full offer and still need additional funds. You can request a loan increase by submitting a Budget Revision Request. If you have any questions or need assistance, please email budgetrevision@pnwu.edu.

Stop by the Financial Aid Office to discuss your situation or send an email to finaid@pnwu.edu.  

Stop by the Financial Aid Office to discuss your situation or send an email to finaid@pnwu.edu.

For current students enrolled in the 2025-26 academic year, we offer a combination of federal student loans (unsubsidized loan and the Graduate PLUS Loan) to pay your tuition in full and cover your PNWU estimated living expenses for the academic year. PNWU’s estimated living expenses are based on reasonable living expenses for our area.  Note that summer living expenses are not included for programs who are not in school during summer term.

However, as of July 1, 2026, the Graduate Plus will no longer exist for new borrowers.  Students will need to seek other funding, such as private student loans and scholarships.  There are also specific scholarships that pay tuition in full as well as provide a monthly stipend for living expenses, but these are in return for fulfilling a service commitment after you graduate.  Check these out on the PNWU scholarship page.