Financial Aid FAQ

Financial Aid frequently asked questions.
What is PNWU’s federal school code?

PNWU’s federal school code is G41305.

What is the process for applying for federal student loans at PNWU?

The first step is to complete the Free Application for Federal Student Aid (FAFSA) online at 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 and then post your aid eligibility, including federal student loans and instructions on how to accept/decline/reduce the student loans to the Financial Aid Portal.

Do I have to fill out the FAFSA every school year?

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, visit

Am I required to include my parents’ information on my FAFSA?

Although not required, we strongly recommend that you include parents' information for scholarship purposes. Including parents' information has no impact whatsoever on your dependency status, your loan eligibility, or the amount of federal loans you will be offered.

How long does it take for you to receive my FAFSA?

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 April. 

I am not a U.S. citizen. Am I eligible for federal financial aid?

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. 

Are there fees associated with borrowing?

Yes.  The table below contains the most recent origination fees on the federal loans. Origination fees will continue to fluctuate until 2021 due to Sequestration.  

Loan Date

Origination Fee - Unsubsidized

Origination Fee - Grad PLUS

On or after Oct 1, 2018



What are the current federal loan interest rates?

Current interest rates effective July 1, 2018: unsubsidized loan rate will be 6.6% and the Graduate PLUS interest rate will be 7.6%. The interest on both of these loans will begin to accrue when the funds are made available to the student.

When may I view my aid eligibility on the Financial Aid Portal?

We begin posting aid eligibility on the Financial Aid Portal in April, for applicants who filed their FAFSA between October 1 and April 1. FAFSAs received after April 1 will be processed throughout the spring and summer. If you have filed your FAFSA but do not see your aid eligibility within six weeks before classes begin, please contact the Financial Aid Office,

What is covered by my financial aid eligibility notice?

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 as you are not in school during summer term.

Other expenses that cannot be covered by your financial aid (per federal regulations) include items such as the personal purchase of study guides in addition to those provided to you by PNWU, taking the USMLE exam, credit card payments, car payments, veterinary/pet costs, spouse expenses, purchasing gifts, etc.  Only cost related to you and your degree requirements is an allowable expense.

What types of federal student loans will I be offered?

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 in enrolled at least half-time.

Do I have to borrow the maximum loan amounts?

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.

How do I apply for scholarships?

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!

If I receive a scholarship, do I need to report it to the Financial Aid Office and how does that affect my loan eligibility?

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. 

When will I receive the proceeds of the financial aid?

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 first day of the fall term and the first day of the spring term. The tuition and fees are deducted from these funds; the remainder is released to you for your living expenses.  

What if I overestimate and have borrowed too much money on my student loans?

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 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. 

What if I underestimated and have not borrowed enough money on my student loans to cover my living expenses?

Email your request for a loan increase to and we will review your request.

What if I have an emergency financial situation, but I have borrowed the maximum amount offered to me this year?

Stop by the Financial Aid Office to discuss your situation or send an email to  

What if I need a short-term loan just to get by until the next disbursement?

Stop by the Financial Aid Office to discuss your situation or send an email to

What is the Master Promissory Note (MPN)?

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.

I would like to receive a different amount than what has been offered on the Financial Aid Portal. May I adjust the amount?

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

Are there deadlines as to when the financial aid process has to be completed?

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 and may incur late fees with their landlord.

Can I increased my federal student loans to purchase board exam question banks and study guides?

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.