Receiving your aid

Award terms and conditions

Maintaining financial aid eligibility is an ongoing process. Not only must you reapply for financial aid every year, but the Financial Aid Office must continually monitor your eligibility. 

Required Reading

When funds are applied

Financial aid funds are applied to your student account balance at the beginning of each semester.

Aid is applied to your student account the week before your classes begin. Aid can only be applied after you have accepted your awards and completed all requirements.

  • Financial aid for the academic year is applied in two payments — half in the fall semester and half in the winter semester. 

If you add a class after your aid is refunded, remember to pay your balance before late fees are charged.

If you have unpaid outstanding charges other than tuition, fees, or room and board, and you want the university to deduct payment from your financial aid, you must complete the -

Title IV authorization form

How funds are received

All financial aid offered through the Financial Aid Office — excluding work-study awards — is credited to your student tuition account to pay for:

  • tuition and fees
  • room and board (if applicable)

Work-study earnings are paid biweekly in the form of a paycheck. Remember to submit your timesheet promptly.

  • Note: Unused funds from a fall and/or winter work-study award cannot be earned in the spring/summer semester.

What happens to excess aid?

Financial aid is meant to assist with your costs. After tuition, fees and applicable room or meal plan charges are paid, any remaining aid will be refunded to you for other educational expenses. You may use these funds to assist with your living expenses while you are in school.

Financial aid refunds

Outstanding balances

Do not ignore your balance. If you owe money, be proactive.

  • If your aid has not been applied to your student account, check Academica to see if you have any outstanding requirements. 
  • You must accept loans if you want them and complete entrance loan counseling and promissory note requirements.
  • If you need to set up a payment plan, contact the Student Accounts Receivable Office.

Wayne State offers installment tuition payment plans for university debts.