Financial Aid       

West Chester University

25 University Avenue, Suite #030
West Chester, PA 19383
Phone: (610) 436-2627
Fax: (610) 436-2574


Loans Watch Video

Student loans are serious financial and legal obligations - they must be repaid. To apply for a Federal Student Loan you must complete the FAFSA by the March 1st deadline. Federal loan programs are regulated by the U.S. Department of Education and are subject to program-specfic requirements, including maintaining satisfactory academic progress. Learn your borrower rights and responsibilities - borrowing for college is a serious investment.

FEDERAL DIRECT STUDENT LOANS

To Apply - First-Time Borrowers:

  1. File the Free Application for Federal Student Aid (FAFSA) by the March 1st priority deadline.   

  2. Accept your Federal Direct loan on-line at wcupa.edu/financial aid, and be sure to accept EACH loan individually

  3. Go to www.studentloans.gov to do both subsidized/unsubsidized entrance counseling AND complete your Master Promissory Note (MPN)

           using your student FAFSA pin number

To Apply - Returning Borrowers:

    

  1. File the Free Application for Federal Student Aid (FAFSA) by the March 1st priority deadline.   

  2. Accept your Federal Direct loan on-line at wcupa.edu/financial aid, and be sure to accept EACH loan individually

HOW MUCH CAN I BORROW?

 

Federal Perkins Student Loan

  • To be considered for a Federal Perkins Student Loan you are encouraged to complete your FAFSA in compliance with the March 1st PRIORITY deadline. Your record will be screened for eligibility as part of WCU's packaging process. Consideration for Federal Perkins Student Loans is given first to our "high need" students. Cost of Attendance (COA) minus Expected Family Contribution (EFC) = need.

  • If you are offered a Federal Perkins Loan you MUST accept your loan via MYWCU at the West Chester University Web site. First-time borrowers must:

    1. Please go to iPROMise and complete an Entrance Counseling Test and Loan Interview.  You are also required to review and accept your personalized TLID at this time. You must provide information for all of the questions with an asterisk. The financial aid office will confirm that the requirements have been met and will update your financial aid alertsl, via myWCU.
    2. Complete and sign a Master Promissory Note (MPN) generated by the financial aid office.   The MPN must be signed in person.

     

      You are encouraged to complete these steps as soon as possible to avoid cancellation of the award.

      All WCU students who borrow funds after May 1, 2010 are required to complete a NEW Master Promissory Note (MPN). The MPN will be available 2 business days AFTER you accept your loan on-line at MYWCU. You will not be permitted to sign the MPN if you are a first time borrower and have not completed all of the steps included in the 1st above.

We encourage you to sign the MPN if are on campus, during the summer. Please download and print the Federal Perkins Student Loans Fact Sheet.      

Federal Nursing Student Loan

  • Nursing majors (only) that have filed their FAFSA in compliance with the March 1st deadline will be reviewed for Nursing Loan eligibility.
  • The Federal Nursing Student Loan has a fixed interest rate of 5 percent.

  • If you are offered a Federal Nursing Student Loan you MUST accept your loan via MYWCU at the West Chester University Web site. First-time borrowers must:

    1. Please contact the financial aid office to schedule an inperson Entrance Counseling Interview.
    2. Complete and submit a Acknowledgement/Reference Form to the Financial Aid Office.
    3. Complete and sign a Master Promissory Note MPN in person, in the financial aid office.

Parent Loan for Undergraduate Students (PLUS)

PLUS funds are available for parents who qualify to bridge the gap between the Cost of Attendance (COA) and other financial aid, including loans.

All PLUS applications are subject to a credit check. Credit checks have only a 60 - day window before they expire,so, if applying for PLUS funding,

the best time to apply for attendance at West Chester University is around June 1st each year.

To Apply:

  1. Go to www.studentloans.gov
  2. Apply for Parent PLUS on-line
  3. Complete and e-sign a Master Promissory Note (MPN) if applying for the first time

Graduate PLUS

Graduate PLUS funds are available to graduate students who are enrolled in degree programs and need funding to bridge the gap between the

Cost of Attendance (COA) and Federal Direct student loans. All graduate PLUS applications are subject to a credit check. Credit checks have

only a 60-day window before they expire, so if applying for Graduate PLUS funding, the best time to apply is around June 1st of each year.

To Apply:

  1. Go to www.studentloans.gov
  2. Apply for Graduate PLUS on-line
  3. Complete and e-sign a Master Promissory Note (MPN) if applying for the first time

 

Private Education Loans  

Private Loans are education loans that have, depending on the lender, a variety of terms and rates. Students with sufficient income and credit may be borrowers on these loans; parents may be borrowers or co-signers if their students do not meet the lender's income and/or credit criteria.

Students and parents should carefully consider interest rates and terms ("comparison shop").